Antiquorum Starts Season Off With A BANG!!!

Antiquorum CEO Evan Zimmerman walked over to me as I was inspecting some watches on the Wednesday preview and with a wink stated "we have more registered bidders than ever". Hmmmmmmmmm.
My mind begins to wander. Everyone who sees me at shows and in NYC like to engage in "market talk". As the self professed "king of market gloom and doom" I am sometimes skeptical of smaller dealers on the street who want me to hear some crap about how they sold a 1501 Date for $2k and expect me to blow it up on my blog and VRF. Maybe they are buried in a few? lol!!
"Real players" lay back in the cut and analyze so I wondered, is this going to be the big market indicator for the season?
I do not know but if yesterday's auction in NYC is any indication of where the market is going, I can only say "WOW"!
There are many ways to get an understanding of how an auction will play out. While sitting at the preview it was clear this was going to be a good one. Lots of people examining watches, pulling them apart, checking serials and casebacks. I was there with my trusty sidekick Viper who loves nothing more than pulling things apart and scrutinizing.
We arrived Thursday morning a bit into the first session, 30 lots in. As I sat down a beaming AQ Chairman Bob Maron walks over tells us the smaller lots in the beginning are doing "extremely well". Nice. Bobby's happy already. That's a good thing.
I was interested in the vintage Rolex, which by all accounts was scarce in this sale on the whole, and big Patek. Lots 93 and 94 go off as expected. Lot 95 then hammers at $7k which IMO is a little strong but not unexpected. Lots 97/98 go the same route. When lot 104 does not hit reserve, I am a little uneasy as it was just so perfect and sold for $100k last year. Then came lot 120, the 5970 Tiff which blew up over $130k+ BC. Lot 140 Breguet clock/watch combo sold for over $500k. By lot 173 the tsunami continued with a nice but ordinary 5513 went for $6k w/buyers commission! Lot 176 Tiffany 1016 was over $6500 w/BC, lot 177 $45k+.
Lot 179 was the killer selling for $84k w/BC. $84k!!!!
Patek lot 216 the "platinum Gilbert Albert" came close to $100k, which really was indicative of most Patek, current or vintage. All sold well which leads me to believe people are looking to plant money somewhere, ANYWHERE, but in the bank and want hard, tangible items with a proven history of value over the long term.
Lot 341 green Milgauss closed at $7200 which is amazing
My personal favorite (lol) lot 343 the Bamford Blackout Daytona closed soft, IMO at around $20k.
Can anyone say PRO-HUNTER???? There is no substitute!
LOL
Lots 350 and 351, 5513 mattes, closed in the mid $4k range, with lot 532 coming close to hitting $50k even with many "non Milsub" issues.
My other personal favorite lot 353 the cream 16550 full set closed over $15k. Lot 354 the 1530 full boat also did very well at $8k.
Lot 356, the orange hand, did not hit reserve which is not surprising as there are alot out there and can be had in the $11k range.
Lot 357 held it's own at $27k+ to round up the Rolex.
The big Patek lots were what really brought home the show:
Lot 401 over $74k, lot 402 clost to $400k but lot 413 and 414 hit the higher of their respective estimates at $780k and $680k+.
I must say, as I watch the market daily I did not see the strong "big Patek" numbers coming. They talk about a lack of money but it is apparent people will sock money into something which has a proven track record. Vintage Rolex is still hanging very strong in the auction world too. One observation I made during the day was there are deals to be had at auction and on the street but the "two tier" market is still in play. If you buy right, you can get top dollar at auction and vice-versa. We see deals on 47th and beyond, but these are serious Patek numbers. Some of the "more common Patek" did almost retail+ in many lots.

Patrizzi and Co are next on October 7th. While they may have not many Rolex in their sale, they are counting on higher quality pieces, as opposed to quantity. I am told by insiders that P & Co have lots coming in droves, but Osvaldo Patrizzi is not accepting anything but prime examples, which is refreshing and necessary.
I am very excited to see what happens on October 7th at Patrizzi & Co. Their sale will either solidify the market as real, or show this AQ auction to be a fluke. I am betting the market is coming back strong, but for the mere fact that cash is worth less and less each day. When inflation hits here and around the world, we can always use a red Subbie to trade for groceries!'
lol

One last comment on yesterday's auction is this: Antiquorum had the "buzz" going...AGAIN! You could feel the electricity in the air when you arrived. Though I had to leave a little early I could tell it was going to be very strong w/sales close to $10 million. Not bad in a slumping Obamamerica, huh?
Again, many congratulations to Bob, Evan and the AQ team for a splendid sale and overall top rate event...