“People buy Audemars Piguets to wear them, and they buy other brands to invest in…so a pristine Audemars at auction 20 years from now will be a very valuable piece,” said Sotheby’s head of watches John Reardon. The value of a vintage watch is determined directly by market perception, Reardon said. That’s one reason why Patek Phillipe has sold extremely well in recent years–and why women’s watches have flatlined.
As for Rolex, the brand was conspicuously absent from note, though it did come up at the end of the night during the question and answer session. Feelings were mixed. Robert Ronen, a sales manager for Audemars Piguet, compared the brand to pot. “Rolex is the gateway watch,” he said. “It is the first thing that opens people’s eyes to the high-end watchmaking world. God bless ‘em.”
Shots fired at Rolex, but we’re in the new money crowd and can’t imagine spending $80,000 for a watch…today. God bless us with a free one for coming to their defense.
