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Results for Sotheby's (Auctions)

872 articles · 21 videos found · page 8 of 30

Editorial: Geneva Auctions Fall 2024 SJX Watches
Rolex GMT-Master II “SARU” Nov 12, 2024

Editorial: Geneva Auctions Fall 2024

Perhaps the most surprising moment of the fall auction season in Geneva was when the hammer came down on an MoonSwatch at Christie’s for CHF69,300 including fees – exactly the same as a Rolex GMT-Master II “SARU” that sold later in the day. But as is almost always the case with record prices at auction, there was a story behind the price and a method to the madness. The MoonSwatch was the unique “millionth” example conceived specifically for this auction, where all proceeds went to ELA, a French medical charity. The ELA sale was spearheaded by Francois-Henri Pinault, the chief of Kering, the luxury conglomerate that owns Christie’s, and certainly one of the most influential people in the luxury goods business. Sitting in the room and opening the sale was Mr Pinault’s fellow trustee at ELA, Zinedine Zidane, the French footballer better known as Zizou who’s regarded as one of the all-time best players and coaches. Christie’s auctioneer Rahul Kadakia with Zizou. Image – Christie’s Bidding via phone, the winning bidder of the MoonSwatch – which sold for over 150 times the retail price – announced to the room via a Christie’s rep that his winning bid was for “ELA and Zizou”. It was clearly a statement that he or she would have paid up for whatever watch was on sale, regardless if it was plastic or precious metal. It was a good deed done that was no bearing on the MoonSwatch or watches in general. To the moon MoonSwatch aside, the season was pos...

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Editorial: Geneva Auctions Spring 2024 Part I – Only Watch SJX Watches
May 13, 2024

Editorial: Geneva Auctions Spring 2024 Part I – Only Watch

A longer-than-usual Geneva auction weekend just concluded, having started with Only Watch 2024 and concluded with Christie’s watch sale – both of which were postponed for different reasons. Only Watch set the tone for the rest of the sales. The appetite for buying was muted. Most watches performed as expected: desirable brands and watches did well, though not as well as they would have in 2022 or early 2023. A handful of watches were outliers and performed spectacularly. That said, there were more watches that sold poorly compared to either of the last two instalments. In sum, it was a reflection of the overall market for collectible watches. A night-time cyberattack On a sunny Friday morning in Geneva, just before Only Watch was scheduled to take place in the afternoon, it emerged that Christie’s had suffered a company-wide cyberattack that brought down its website, app, and everything else digital. According to a Christie’s representative, the cyberattack began in the early hours of Friday last week, which was fortunately daytime in Asia, so its Hong Kong office was able to respond. Even though the hack took place just before the watch and jewellery auctions in Geneva, the cyberattack was probably timed to take place before the following week of art sales in New York, where Christie’s will sell over US$800 million of art. Tess Pettavino making the opening speech. Image – Only Watch A colourful event Because of the cyberattack, Christie’s postponed its watch...

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