Phillips Ends The Year On A High Note
But a solid gold G-SHOCK was the breakout star of the show.
“It is with great pleasure that The 1916 Company introduces our newest writer, Greg Gentile. Greg is a twice published book author as well as the author of numerous articles, and first joined The 1916 Company as a member of the operations team, and is now a member of our growing editorial team as well. A trained journalist and historian, Greg is also a lifelong lover of fine watchmaking and horology, and we hope you’ll all be as excited as we are to add his voice to our community!” — Jack Forster
It is no secret that the overall watch market has experienced a decline since the peak of the Covid-19 pandemic. However, this statement alone may be misleading. Despite a correction in the market, sales on the auction circuit are still strong. This past week, Phillips concluded the final auction of the year, and it finished on a high note.
Phillips announced the outcomes of The New York Watch Auction: NINE, held on December 10, which achieved a total sales value of $26 million, indicating a 100% sell-through both by lot and by value. This marks the third consecutive year of Phillips Watches Department in New York achieving a full sell-through, culminating in the department’s highest annual total of $52.3 million. A notable highlight of the auction was the impeccably preserved Patek Philippe Ref. 1518 in pink gold, securing the highest valuation of the season in New York at $1.8 million. Remarkably, this timepiece had been absent from public view for over two decades, residing within a highly significant private American collection.
When I hear stories about watches like this Ref 1518, hidden away, it always makes me metaphorically salivate at the thought of what may be lurking in the safety deposit boxes around the world, soon to resurface. I am still waiting for the Pablo Picasso JLC to appear one day.
Paul Boutros, Head of Watches, Americas, and Isabella Proia, Head of Sale, New York, jointly expressed their satisfaction with the dynamic conclusion to the year’s watch auctions. The sale featured a diverse array of timepieces, ranging from the vintage Patek Philippe Ref. 1518 to the cutting-edge MB&F Horological Machine 4. With over 1,500 registered bidders from nearly 70 countries, the event reflected the resilience of the market and the continued pursuit of rare and significant timepieces by discerning collectors.
Notable performances in the auction included the Patek Philippe Ref. 5204P-021 perpetual calendar with split-seconds chronograph, achieving a record-breaking price of $838,200, and a vintage Ref. 1463 “Tasti Tondi” chronograph retailed by Serpico Y Laino, realizing $565,150. The demand for vintage Rolex models remained robust, as evidenced by the Rolex “Paul Newman Lemon” Daytona Ref. 6264, achieving $965,200.
G-Shock Steals the Show
However, the watch that caught my attention wasn’t a Patek, or Rolex. It was a Casio.
The auction witnessed the historic sale of Casio’s G-Shock 40th Anniversary Dream Project #2, setting a world record price for a Casio watch at an impressive $400,050. This unique wristwatch, crafted from 18k yellow gold, was designed in collaboration with generative artificial intelligence (AI), incorporating 40 years of G-SHOCK data. The proceeds from this sale, totaling $400,050, were directed to The Nature Conservancy in support of its crucial environmental conservation mission.
In all honesty, when headed into this auction I did not anticipate writing about a solid gold G-Shock. But the more I learned about this watch the more enamored I became.
The G-D001, part of the “Dream Project #2,” is a solar-powered marvel boasting radio-controlled timekeeping. This unique timepiece follows the success of G-Shock’s initial “Dream Project” released five years ago. For this edition, G-Shock leveraged 40 years of data to create a 3-D model using a custom AI system, resulting in a stunning 45 mm watch with some wild features. Crafted through a meticulous lost-wax casting process (usually utilized in jewelry making), the gold components were hand-polished, giving the watch a radiant shine. Departing from digital displays, the transparent dial showcases an analog design with independent handsets for various complications. The watch’s quartz power source utilizes Multi-Band 6 timekeeping for precise synchronization with atomic radio towers worldwide. Additionally, silicon gears, ruby bearings, and high-efficiency solar cells on the dial’s outer edge contribute to the timepiece’s exceptional details.
The significance of the Casio G-Shock sale extends beyond its record-breaking value, signaling a noteworthy stride towards the integration of artificial intelligence in watch design. Furthermore, the commitment to environmental conservation, as exemplified by the allocation of proceeds to The Nature Conservancy, underscores the evolving landscape of watchmaking, aligning with sustainable practices for a promising future in the industry.
What I believe this sale highlights, more than the allure of integrating AI into watch design and my obvious appreciation for supporting a charity such as The Nature Conservatory, is that it was a Casio G-Shock. When you listen and read enough horological journalism, you hear many stories about how people got into watches, into collecting them, and I would say 60% of the time it starts with a Casio. But this doesn’t mean they get the side-eye from watch snobs. Casio is well-respected but far from being considered luxury or Haute Horology. This move by Casio is similar to McDonald’s producing the equivalent of a Minetta Tavern bone marrow burger. Is it still a burger? Yes, from a tried and true place, but this time they wanted to show how good they can be. Casio wanted to say, “Hey, don’t forget about us—the people that brought you into this world.” It is a nice reminder that even the companies some may thumb their nose at are still a cornerstone at the foundation of the horological world.
So as we fall in love with the glitz and glamor of the outrageous numbers from this past auction cycle, this last auction reminded me to buy what you love and remember the classics. They are a classic for a reason.