Rare Watches Featured in 2017 Rare Watch Conference

 New York (June 21, 2017)

Richard Mille Sapphire Split-Seconds Chronograph Wristwatch- Auctioned for $1.2 million

This $1.2 Million Richard Mille watch lets you to see the entire movement through a full sapphire case. It is one of the most expensive Richard Mille watches. It is a rare feat for a single watch to include both these features. Richard Mille created the watch with engineering and mechanics in mind. The full skeleton design demonstrates this. It is also a prototype, or a watch manufactured years before the normal production run. It was never sold to the public before the auction as a result. In fact, only five of these watches were actually made during the usual production run!

Rolex 18k Gold Chronograph Paul Newman “Lemoncello” Wristwatch- Auctioned for $871.5 Thousand

This watch was introduced initially in 1970 and was sold only until the year 1973. It is the rarest of Rolex’s Paul Newman Daytona watches, also called the “Lemoncello” for its pale yellow dial.

Patek Philippe Reference 2499- Auctioned for $427.5 Thousand

This watch was given as a gift from a father to his son in the early 1980s, when the watch was also manufactured. It was made for four series since 1950 (this one is a part of the fourth one) with a total of only 349 ever made in all series.

Switzerland

Patek Philippe Senza Luna Watch in 18k White Gold- Auctioned for $1 million

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This is only one of seven Senza Luna watches ever made. The watch’s name is also the Italian term for “moonless,” referring to the lack of a moon phase display, a common feature on modern Patek Philippes like this one. It is also only one of three of these watches sold in white gold. Some watch enthusiasts think these watches were Patek prototypes that were not sold to the public until a year later (this particular one was manufactured in 1981, and first sold in 1982). Some other industry experts believe these watches were crafted according to customer requests. Even so, the mystery regarding the origins of the Senza Luna watch makes it a very intriguing and valuable one to watch collectors.

Rolex “John Player Special” Paul Newman- Auctioned for $773 Thousand

Only two of these watches were known to be made, with the other being auctioned off in Switzerland in May 2013. The “John Player” nickname of this watch refers to the Formula One car of Brazilian race car driver Ayrton Senna, which was black with gold details, like the watch it was named after.

Rolex “Panda” Paul Newman Oyster Cosmograph- Auctioned for $524 thousand

It was nicknamed the “Panda” for its white dial with black detailing, and has remained in impeccable condition despite this particular one having been manufactured in 1971.

Conclusion

The Law of Supply is an economic rule of thumb that states that the less of something available, the more valuable that object becomes. This definitely holds true with the watch industry, where an incredibly rare watch with only few hundred known made (and sometimes even fewer) can be sold for hundreds of thousands, if not millions, of dollars, compared to the usual retail price of a $2,000 watch. Considering that some people tend to hide their watches in safes, not knowing their true value until sold, we could also potentially see rarer watches in 2018.

Sources:

http://www.christies.com/rare-watches-and-american-27140.aspx?saletitle=

http://www.christies.com/rare-watches-27116.aspx?saletitle=