Watch Collectors Cash In As Phillips Geneva Auction Totals $46 Million
Watch investors take note.
Watch investors take note.
Over the weekend, the Phillips Geneva Watch Auction XI marked the return of the live watch auction – the first since the global Covid-19 crisis. With 210 lots on offer, the event experienced energetic bidding from buyers across at least 67 countries totalling approximately $46 million.
The sale, conducted by Phillips in association with Bacs & Russo at the Hôtel La Réserve in Geneva, was held for a limited number of live buyers supported by more than 2000 collectors bidding via phone or online.
As far as individual sales, Patek Philippe claimed all three spots on the podium with the premiere lots from the private collection of Jean-Claude Biver – a recognisable force of the Swiss watch industry. Here, the Patek Philippe ref. 1518 perpetual calendar chronograph from 1941 claimed top spot, its moonphase in pink gold and extremely rare pink dial fetching for around $5.1 million.
In second, was the Patek Philippe ref. 2499 perpetual second series calendar chronograph with moonphases, from 1957. Only 20 known examples of this model – with its yellow gold batons 0 are known to exist, making it a highly sought-after piece. And with nine bidders competing for the watch, it soared to a final price of approximately $3.93 million.
In third was a Patek Philippe ref. 1579 from 1946, in platinum. Recognisable for its ‘spider’ lugs and blue enamel graphics, it is believed to be one of only three models of this reference with a platinum case, and of those, it is the only watch with a blue scale and markers. As such, the one of a kind piece commanded a $2.91 million sale price.
Despite Patek Philippe’s dominance across the auction block, the action wasn’t limited to the venerable Swiss brand with the earliest F.P. Journe watches ever made both selling well above their estimates at prices of $2.18 and $1.6 million respectively.
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Lost for decades, an acoustic guitar John Lennon used at the height of the Beatles’ fame is going up for auction after being found in the attic of a home in the British countryside.
The 1965 Framus Hootenanny is arguably one of the most historically important guitars in the history of the Beatles, and was used on some of the group’s classic songs and played by Lennon in the movie Help! , released the same year.
The 12-string acoustic guitar will headline Julien’s Auctions Music Icons event on May 29 and 30 at the Hard Rock Cafe in New York, the auction house announced Tuesday morning in London.
Darren Julien, the firm’s co-founder and executive director, expects the Framus to exceed its presale estimate of between US$600,000 and US$800,000 and says it could set a new record for the highest-selling Beatles guitar, a record his auction house set nearly a decade ago.
“Julien’s sold a John Lennon [Gibson J-160E] guitar in 2015 for US$2.4 million, and because this, historically speaking, is a more significant guitar, our expectation is that this guitar—played by John Lennon and George Harrison on the Help! album and other recordings—will be in the top five most expensive guitars ever sold at auction,” Julien says. “It’s likely the last chance for someone to buy and personally own an iconic John Lennon/George Harrison guitar.”
While equating its discovery to that of a “lost Rembrandt or Picasso,” Julien believes this is the greatest find of a Beatles guitar since Paul McCartney ’s lost 1961 Höfner bass, which was returned to him in February after it had been stolen in 1972.
The rediscovered Framus was famously seen in the 1965 film Help! , and was used in recording sessions for classics such as “You’ve Got To Hide Your Love Away,” “It’s Only Love” and “I’ve Just Seen A Face.” It was also played by George Harrison on the rhythm track for “Norwegian Wood” on the 1966 album Rubber Soul .
According to the auction house, by the late-1960s the guitar was in the possession of Gordon Waller of the British pop duo Peter & Gordon, who later gave it to their road managers. The instrument was recently discovered in an attic in rural Britain where it sat forgotten and unplayed for more than 50 years. After finding the guitar in the midst of a move, the homeowners contacted Julien’s.
Along with co-founder Martin Nolan, Julien traveled to the U.K. and immediately recognised that it was the storied Help! guitar. While on the premises, they also discovered the original guitar case in the trash and rescued it. It’s an Australian-made Maton case that can be seen in photos taken of The Beatles in 1965 The sale of the guitar is accompanied by the case and a copy of the book The Beatles: Photographs From The Set of Help by Emilo Lari.
In addition to Lennon’s acoustic Gibson J-160E—which fetched three times its presale estimate—Julien’s has broken multiple Beatles records, including Ringo Starr’s Ludwig drum kit (which sold for US$2.2 million), the drumhead played on the Ed Sullivan Show (US$2.2 million), and a personal copy of the White Album , (US$790,000), all of which sold in 2015.
Julien’s also holds the record for the world’s most expensive guitar ever sold at auction: Kurt Cobain’s MTV Unplugged 1959 Martin D-18E acoustic electric guitar, which sold in 2020 for US$6 million.
More than 1,000 pieces of music memorabilia will also be part of the auction, including items used by the likes of AC/DC, Nirvana, Guns N’ Roses, Judas Priest, Heart, Queen, and Tupac Shakur.
Sartorial highlights include custom dresses worn by Tina Turner (Versace) and Amy Winehouse (Fendi), both of which are expected to sell for between US$4,000 and $6,000, and Michael Jackson’s stage-worn “Billie Jean” jacket from 1984’s Victory Tour (presale estimate: US$80,000 to $100,000).
Bidders will have the chance to buy items benefitting a pair of U.K. charities. Several collectibles from The Who and other British musicians will be sold to benefit the Teenage Cancer Trust, and an assortment of memorabilia—ranging from a Stella McCartney dress worn by Helen Mirren and an Armani jacket stage-worn by Phil Collins to artwork created and signed by Pierce Brosnan—will be offered to help fund the King’s Trust.
Rounding out the two-day auction is Randy Bachman’s collection of more than 200 museum-quality guitars. Known for his role in The Guess Who and Bachman-Turner Overdrive, the Canadian rock star used the instruments on hits such as “These Eyes,” “Takin’ Care of Business,” “You Ain’t Seen Nothin’ Yet,” and “American Woman.”
The public can view the Help! guitar and other auction highlights at Hard Rock Cafes in London (April 23-29) and New York City (May 22-28).
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