Sotheby’s end-of-the-year auction highlighted a significant trend in the watch industry which looks set to continue as we head into 2023.
The results in mid-December 2022 are unequivocal: all the more than 150 lots of high-end watches presented were awarded at a valuation above the minimum price, which is a testament to the enormous public interest in fine watches, but there is one more element to consider.
Among the beautiful watches proposed, from more or less well-known brands, the best performances occurred on watches from the most innovative Maisons.
One of which was Aventi and its A15 Wraith Saphite Paraiba, a watch that combines a Swiss tourbillon movement with a case made of proprietary material, Saphite, which is even more transparent than sapphire crystal, with a delicate light blue Paraiba color.
This timepiece started at a base valuation of USD 25,000 and went as high as 70,000 – almost three times the minimum lot price – against a maximum valuation of USD 50,000.
It is becoming increasingly common that lesser-known watches, perhaps produced by independent boutiques, are beginning to excite the public and is now one of the significant snowball effects caused by the worldwide expansion of watchmaking.
Beyond the historical borders of Switzerland, there is an entire world moving and creating independent projects outside the big institutional circuits.
It mirrors the same results that are highlighted year after year by the GPHG.
Catch up on Rob Corder’s predictions for the industry ahead of 2023 HERE.