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Results for Phillips Geneva Watch Auction XIV

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Business News: Richemont Reports Flat Watch Sales and Losses Online SJX Watches
Vacheron Constantin as enjoying Nov 8, 2019

Business News: Richemont Reports Flat Watch Sales and Losses Online

Having just announced its six-month results to the end of September, luxury conglomerate Richemont eked out a rise in sales driven by its jewellery division, with its online business staying in the red and watchmakers showing no growth. Sales rose 9% increase to €7.397 billion, with a stable net profit of €869 million, based on actual exchange rates. The group reported double-digit sales growth in China, Korea, Japan, the US and the United Kingdom. But overall sales in Asia Pacific, which accounts for 37% of the group’s sales, has been subdued, mostly due to the political unrest in Hong Kong, which accounts for around 10% of the group’s revenue. The city saw sales drop by double digits. Richemont’s jewellery brands, namely Cartier and Van Cleef & Arpels, though it just added Buccellati to its portfolio, reported an 8% rise in sales. Notably, it was led by a higher increase in watch sales than jewellery. Prospects for the group’s watch brands, which include IWC and Panerai, have been muted due to the slump in its biggest market, Hong Kong. Richemont singled out Panerai, A. Lange & Söhne and Vacheron Constantin as enjoying the highest growth within the watch division, which is notable for the fact that these brands are not usually the drivers of growth, at least in recent years. The A. Lange & Söhne Odysseus, launched too late to help sales but its maker did well anyway In terms of sales channels, retail sales at Richemont’s own stores were up by 4%, but who...

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IWC Introduces the Pilot’s Watch Timezoner Chronograph “80 Years Flight to New York” SJX Watches
IWC Introduces Oct 15, 2019

IWC Introduces the Pilot’s Watch Timezoner Chronograph “80 Years Flight to New York”

IWC’s latest limited edition is a surprisingly small run – 80 pieces to mark the 80th anniversary of the flight of the giant Latécoère 521 flying boat Lieutenant de Vaisseau Paris from New York to Lac de Biscarrosse in Southwestern France. Starting on Bastille Day, July 14, in 1939, the flight was the first nonstop crossing of the North Atlantic by flying boat. A passenger on the 28-hour, 27-minute journey was French aviator Antoine de Saint Exupéry. And it happens that one of IWC’s most popular sub-collections of pilot’s watches watches is Le Petit Prince, named after the famous novel by de Saint Exupéry. So the Pilot’s Watch Timezoner Chronograph Edition “80 Years Flight to New York” is an offshoot of the Le Petit Prince collection, with a few tweaks. It retains the vaguely retro flavour, with Gothic-esque numerals and lozenge hands, but instead of the standard blue dial of Le Petit Prince, the anniversary watch has a brown metallic dial, matched with brown ceramic bezel. The edition is based on the Timezoner Chronograph, usually available only in the standard black and white livery of IWC’s basic Pilot’s Watches. It’s an unusual watch that combines both a flyback chronograph and IWC’s proprietary “timezoner” mechanism. Originally developed by the defunct watch brand Vogard, the timezoner mechanism has a rotating world time bezel linked to the second time zone, so turning the bezel moves the 24-hour hand in one-hour ste...

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