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Yesterday β€” 1 April 2025Main stream

Vacheron Constantin is rolling out a watch so complicated it'll make horologists' heads spin

1 April 2025 at 23:06
Vacheron Constantin store, on 22 November, 2024 in Madrid, Spain.
Swiss watchmaker Vacheron Constantin released what it called the world's most complicated watch.

Jesus Hellin/Europa Press via Getty Images

  • Vacheron Constantin has a new wristwatch that does a lot more than tell the time.
  • The new timepiece comprises over 1,500 components and has 41 functions.
  • The watch is "mind-blowing" and "a total flex of horological muscle," said Paul Altieri, the founder and CEO of the watch reseller Bob's Watches.

If you need to know which constellations are above you in the sky at any given moment, Vacheron Constantin has you covered.

The Swiss watchmaker is rolling out the "Les Cabinotiers Solaria Ultra Grand Complication — La Première," which it called the "most complicated wristwatch ever made."

According to the watchmaker's website, the 45-mm-diameter and 14.99-mm-high watch comprises 1,521 components. The watch has 41 complications β€” a term referring to any function of a watch that goes beyond the display of time.

Paul Altieri, the founder and CEO of the watch reseller Bob's Watches, told BI that fitting 41 complications into a wristwatch while keeping it wearable is "mind-blowing" and "a total flex of horological muscle."

"It's less of a watch and more of a statement β€” the ultimate blend of art, engineering, and ego," Altieri said.

It took eight years of development and 13 patent applications to get the watch out, Vacheron Constantin said.

The timepiece looks sleek and modern, with black dials accented with metallic gray and white tones. The watch is double-sided, with its top face featuring four subdials and its inner face showing the position of the stars.

Apart from telling its wearer the time, the watch also shows the sun's position, height, trajectory, and angle relative to the Earth. It also lets the wearer know which constellations are overhead and how long it will take for a star to be visible.

The watch was revealed at the Watches and Wonders trade fair in Geneva on Tuesday, CNN reported.

Representatives for Vacheron Constantin did not respond to requests from Business Insider regarding the retail price of the watch, when it would be available for sale, and how many pieces of this model would be released.

The new watch follows the watchmaker's history of making ultra-complicated watches. In 2024, it released the "Les Cabinotiers - The Berkley Grand Complication," a pocketwatch with 63 complications and 2,877 components.

'Extremely delicate'

A watch with this many complications is "extremely delicate," Altieri said. Servicing would likely take months and could probably be done only by Vacheron's top-level master watchmakers in Geneva, he added.

"Collectors and horological folks will worship it, but it's definitely not meant for mass appeal. It's meant as a show-stopper. A jaw-dropper," Altieri said.

Matteo Barbetti, a luxury vintage watch expert based in Italy, told BI the fact that the watch's features can fit into a wearable 45mm case without compromising the thickness "is a testament to Vacheron Constantin's mastery of miniaturization and innovation."

But the "sheer number of complications might make it less practical for everyday wear," Barbetti said.

"I believe the Solaria will captivate serious collectors and enthusiasts of haute horology," he added.

Read the original article on Business Insider

Before yesterdayMain stream

What 'The White Lotus' characters' watches can tell us about them, from a quiet-luxury Hermès to an ostentatious $380,000 timepiece

22 March 2025 at 01:06
Jason Isaacs as Timothy Ratliffe in "The White Lotus"
Jason Isaacs as Timothy Ratliffe, wearing a Rolex worth about $45,000.

HBO

  • HBO's 'The White Lotus' uses luxury watches to reveal character traits and hint at plot points.
  • The show's characters wear timepieces from HermΓ¨s, Cartier, and Rolex, reflecting their personas.
  • Price tags range from less than $300 to $380,000.

A luxury watch can say a lot about its wearer.

That's especially true on HBO's "The White Lotus," a show known for packing lots of meaning into little details while showcasing the follies and foibles of a cast of privileged hotel guests.

But what does it mean that Saxon (Patrick Schwarzenegger) opts for two different watches worth five figures apiece, and is there any reason Tim (Jason Isaacs) and Victoria (Parker Posey) sport matching Rolexes?

Business Insider spoke to Paul Altieri, the founder & CEO of Bob's Watches, to glean what the luxury timepieces worn by the guests of Thailand's White Lotus can tell us about their characters β€” and reveal what's still to come this season.

Jaclyn wears a $12,000 quiet luxury Hermès

Michelle Monaghan as Jaclyn in season three of "The White Lotus."
Michelle Monaghan as Jaclyn, wearing a $12,000 Hermès Nantucket.

Fabio Lovino/HBO

Hollywood star Jaclyn (Michelle Monaghan) wears a $12,000 rose gold Hermès Nantucket. Altieri described it as a quiet luxury choice that leans more toward jewelry than a statement watch.

"It's a sign of someone who's been around money long enough to not have to prove anything β€” at least on the surface," he added.

Laurie's Cartier piece is classic and confident

Carrie Coon as Laurie in season three of "The White Lotus."
Carrie Coon as Laurie, wearing a Cartier Baignoire.

Fabio Lovino/HBO

Corporate lawyer Laurie (Carrie Coon) sports a $7,250 Cartier Baignoire timepiece that's a bit understated, matching her character's lower maintenance affect compared to her friends.

"The Baignoire is subtle, classic, and timeless," Altieri said. "Laurie's pick says she's confident, no-nonsense, and has nothing to prove."

Tim and Victoria sport matching Rolexes

Parker Posey as Victoria Ratliffe in "The White Lotus"
Parker Posey as Victoria Ratliff, wearing a Rolex Day-Date.

HBO

The Ratliff parents wear matching yellow gold Rolex Day-Date Presidents, and there are some signs they've had theirs for a while. Tim's (Jason Isaacs) navy dial is only available through the resale market now, and it's worth about $45,000, according to Altieri.

"The Day-Date is the power watch. Always has been," Altieri said. "It's wealth, tradition, and authority all in one." Rolex advertises it as the watch of "the past and of future leaders," which speaks to Tim's professional ambition and the traditional values Victoria (Parker Posey) espouses.

Victoria also wears her Rolex loose, which could mirror her character's mildly anesthetized demeanor. Yet her watch also matches her husband's, which means she may be in lockstep with him. Perhaps she knows more about the family's finances than she's letting on.

Saxon has a mix of practical and conspicuous wristwear

Patrick Schwarzenegger as Saxon, Sarah Catherine Hook as Piper, and Sam Nivola as Lochlan in season three, episode one of "The White Lotus."
Patrick Schwarzenegger as Saxon, left, wearing a Hublot Big Bang Unico Black Magic.

HBO

Saxon (Patrick Schwarzenegger) wears a few different watches, including a $23,000 Hublot Big Bang Unico Black Magic and a roughly $10,000 Rolex Milgauss.

Altieri described the Hublot as "a watch that screams for attention" because of its bold and oversized look. "He's clearly trying to prove something, whether to himself or his family," Altieri said.

The Milgauss, on the other hand, is an unconventional choice. It was originally made for scientists who needed their timepieces to withstand magnetic fields, an odd choice for a finance nepo baby. Maybe this former Duke frat star has hidden depths yet to be seen?

Lastly, Saxon's Apple Watch seems pretty on brand with his creatine-guzzling, fist-pumping gym bro persona.

Sritala's timepiece is all style

The White Lotus
Lek Patravadi as Sritala, left, wearing a $380,000 Jacob & Co. Fleurs de Jardin.

HBO

Hotel owner Sritiala (Lek Patravadi) wears the most expensive timepiece on the show: a Jacob & Co. Fleurs de Jardin, which retails for $380,000.

"That's a status symbol β€” nobody's wearing it to tell the time," Dayna Alexander, a content creator who's gained a steady following from White Lotus wardrobe deep dives, told BI.

Altieri agreed. "This is pure spectacle. Complicated, extravagant, and more jewelry than a watch. It's for someone who wants attention and isn't afraid to flaunt it."

Perfect for a glamorous hotel owner who isn't afraid of the spotlight.

Rick's choice is practical, not showy

Walton Goggins and Aimee Lou Wood on season three of "The White Lotus."
Walton Goggins and Aimee Lou Wood on season three of "The White Lotus."

Fabio Lovino/HBO

Rick's (Walton Goggins) Timex Q GMT is more affordable than most other timepieces on the show, retailing for under $250. It's not flashy, but it's respected by watchmakers. Altieri described it as the watch of someone who "appreciates style and function, but without the need for a luxury flex," matching the vintage shirts worn by Goggins' character.

Lochlan's watch is playful and suggests individuality

Sam Nivola as Lochlan, wearing a Moon Swatch Mission to Saturn.
Sam Nivola as Lochlan Ratliffe, wearing a MoonSwatch Mission to Saturn.

HBO

Lochlan's (Sam Nivola) MoonSwatch Mission to Saturn stands in stark contrast to his family's Rolexes. It costs less than $300, far cheaper than the Rolexes his parents and brother wear.

The MoonSwatch is modeled on a watch with major historical significance. The model Lochlan wears is an affordable timepiece inspired by the Speedmaster Professional, or "Moonwatch," which became the official watch for NASA astronauts in the 1960s.

"The Mission to Saturn adds an extra layer of individuality β€” less predictable than the usual Mission to the Moon choice," Altieri said. "Worn by someone who's in the know but doesn't take things too seriously."

His watch choice could hint at a possible break away from his family's world as the youngest Ratliff charts his own path in Thailand.

Read the original article on Business Insider

Real estate as an investment? One study says luxury watches do better.

By: Lloyd Lee
15 March 2025 at 03:55
Rolex
Rolex watches showed more than 50% in returns even after the decline of the secondhand luxury watch market in the past three years, a study showed.

Leon Neal/Getty Images

  • The secondhand luxury watch market has been on a decline since 2022.
  • Still, one study contends that luxury watches like Rolexes have less volatility.
  • The study also found that high-end watches saw more average annual returns than real estate.

In a period of tariff whiplash and geopolitical uncertainty pushing the S&P 500 into a stock market correction, the luxury watch could stand the test of time.

A recent study by two SwissΒ finance professors contends that luxury watches saw less market volatility than real estate, stocks, andΒ "fixed income" orΒ bonds when examining various indices that track the performance of those assets betweenΒ January 2019 and September 2024.

The study's findings suggested that high-end timepieces could be an "attractive option" for investors looking to diversify their portfolios because they have a low correlation with the stock market, making them lower-risk investments.

"The watch market's volatility (3.90% annual volatility) and range are the lowest of any asset class," the study, which was published February 24 on Social Science Research Network, said. "The closest asset class in terms of risk is fixed income, with a volatility of 5 to 8%."

Philippe Weisskopf, assistant professor of finance who co-authored the paper with his colleague at EHL Hospitality Business School, Philippe Masset, told Business Insider in an interview that one caveat to the findings is that luxury watches are illiquid, meaning people aren't selling off their watches as quickly as they could with stocks.

"There are not that many transactions, and this kind of artificially lowers the risk a little bit," Weisskopf said, adding that he and his colleague tried to account for this issue by excluding data that looked at daily price movements.

Returns from luxury watches also tell a mixed story.

"Overall, the watch market (5.68% annual return) underperformed equities (12.85%) and gold (13.06%) but outperformed fixed income (negative returns) and real estate (3.14%)," the study said.

Some brands, however, came close to the average annual returns seen on the MSCI World Index, which the study used as a measure of global stock market performance.

Audemars Piguet showed 11.68% in average annual returns, whereas stocks showed 12.85% in annual returns. Patek Philippe showed average annual returns of 10.92%, according to the study.

Weisskopf notes that brand knowledge and knowledge of specific models within brands are crucial when looking into luxury watch investments.

The Rolex Recession

The study's conclusion factors in the decline of the secondhand watch market in the past three years.

The resale market saw a huge boom in 2022, with the price of a secondhand Rolex Daytona climbing to its peak in March of that year at $48,500 β€” a nearly 228% markup from its retail price of $14,800 in 2023, according to WatchCharts.

Today, the estimated cost of a resale Daytona would be $27,052 WatchCharts data showed. That still represents about an 83% price increase.

Weisskopf's study said brands like Rolex and Vacheron Constantin showed a return of more than 50% after 2022.

"Meanwhile, Audemars Piguet and Patek Philippe, which are the best-performing brands, tripled in price between 2019 and 2022," the study said. "However, the two brands roughly doubled over the total period (i.e. from January 2019 to September 2024)."

Weisskopf noted during the interview that although the paper's findings point to luxury watches as a better long-term investment, the study should not be taken as investment advice.

"From a financial economist point of view, I'd say I don't see how the watch market could turn around a lot right now if you look at what's happening throughout this globe, politically, geopolitically, economically speaking," he said. "I think, right now, a lot of people are rather paying a bit more attention to where they put their money. So I don't think it's going to go up. Is it going to stabilize? Maybe."

Read the original article on Business Insider

Check out the Rolex wrist candy Mark Zuckerberg rocked at UFC this weekend

10 March 2025 at 02:25
Mark Zuckerberg attends the UFC 313 event at T-Mobile Arena on March 08, 2025 in Las Vegas, Nevada.
Mark Zuckerberg came to the UFC event in Las Vegas blinged out in a solid gold Rolex Daytona watch.

Chris Unger/Zuffa LLC

  • Mark Zuckerberg sported a new timepiece at Saturday's UFC match in Las Vegas.
  • Watch experts identified the watch as a Rolex Daytona "Le Mans" in solid gold.
  • The Meta CEO has been seen with numerous expensive watches in recent months.

Mark Zuckerberg showed up with a Rolex timepiece at the UFC match on Saturday in Las Vegas, adding to the slate of major wrist candy he's been spotted with.

In his Sunday Instagram post and videos on X, the Meta CEO was seen wearing a shiny gold watch with a black dial and three white subdials.

He kept the rest of his outfit simple, with a black T-shirt, khaki cargo pants, black shades, and his new staple accessory β€” a thick gold chain.

Four watch experts told Business Insider the watch is likely a yellow gold Rolex Daytona "Le Mans."

Ng Yong Shen, a vice president at Re-Loved Luxury, a Dubai-based secondhand luxury retailer, said the watch has a resale value of up to $300,000.

Always great to see @zuck 🦾 #UFC313 pic.twitter.com/dvb7S8aO3G

β€” Merab β€œThe Machine” Dvalishvili (@MerabDvalishvil) March 9, 2025

Three other watch trading and authentication expertsΒ based in Italy, Switzerland, and the UK, confirmed the watch's model to BI.

In January, while announcing the end of his Meta's fact-checking partnerships in the US, Zuckerberg wore a Greubel Forsey Hand Made 1, which costs more than $900,000.

Greubel Forsey'sΒ website said it produces only two or three pieces of the watch annually.

In September, Zuckerberg was spotted wearing a rose gold De Bethune DB 25 Starry Varius during an interview with the business podcast "Acquired."

According toΒ listings on watch retailers like The 1916 Company and The Hour Glass, the De Bethune watch costs between $90,000 and $95,700.

Shortly before the "Acquired" interview, he wore a Patek Philippe watch in an Instagram post, with his hand around his wife Priscilla Chan's shoulders. The model Zuckerberg wore β€” the Patek Philippe Grand Complications In-Line Perpetual Calendar 5236P-001 β€” retails for $141,400, per the watchmaker's website.

It's unclear when Zuckerberg first started collecting watches. But the Meta chief was interested in timepieces in March 2024, if his conversation with Anant AmbaniΒ at the latter's pre-wedding party is anything to go by.

In a video from the pre-wedding event circulated on social media, Zuckerberg and Chan were heard praising Ambani's Richard Mille watch.

"You know, I never really wanted to get a watch. But after seeing that, I was like, watches are cool," Zuckerberg said of Ambani's timepiece.

Zuckerberg's style evolution is not limited to watches. The tech leader has long ditched his work uniform, which used to consist of drab gray T-shirts and hoodies. Now, he's been known to wear shearling brown jackets, gold chains, and other statement pieces.

Joseph Rosenfeld, an image consultant based in New York, told BI in September that Zuckerberg's style shift, "shown by a love for premium watches and subtle luxury, suggests a shift."

"He's stepping into a role where his appearance reflects his position as a tech innovator," Rosenfeld added.

Representatives for Zuckerberg did not respond to a request for comment from Business Insider, sent outside regular business hours.

Read the original article on Business Insider

Colman Domingo wore a $160,000 custom watch to the Oscars

2 March 2025 at 18:57
Colman Domingo attends the 2025 Oscars.
Colman Domingo, nominated for best actor for "Sing Sing," attended the 2025 Oscars.

Kevin Mazur/Kevin Mazur/Getty Images

  • Colman Domingo attended the 2025 Oscars in a custom red-and-black look by Valentino.
  • He paired the statement suit with a made-to-order Omega Speedmaster Moonwatch.
  • The accessory, set with baguette-cut diamonds, reportedly cost $160,000.

Colman Domingo wore a statement-making watch for his big night at the Oscars.

Domingo, 55, is nominated for best actor for his performance in "Sing Sing," about a group of incarcerated men who stage a play in prison.

He looked every bit the leading man for the awards ceremony, arriving in a custom Valentino suit designed by the brand's creative director Alessandro Michele and styled by Wayman + Micah.

None of Domingo's accessories stood out as much as his Omega Speedmaster Moonwatch in 18-karat Canopus Gold.

Colman Domingo at the 2025 Oscars.
Colman Domingo wore a custom Omega watch to the Oscars.

Lexie Moreland/WWD via Getty Images

The made-to-order watch was set with baguette-cut diamonds, making it even more valuable. According to the Omega website, the style of watch has been "a part of all six moon landings."

GQ reported the custom piece cost a whopping $160,000. His stylists did not immediately return a request for comment.

Colman Domingo at the 2025 Oscars.
Colman Domingo wore a luxury watch with his custom suit.

Frazer Harrison/WireImage/Getty Images

A staple brand of the luxury watch world, Omega is also worn by Silicon Valley tech icons, including Jeff Bezos. Its parent company, Swatch, said in January that stronger sales in the US market stand in contrast to a slower China market.

Several other attendees wore Omega pieces to the Oscars, including Robert Downey Jr., "Dune" director Denis Villeneuve, and Kieran Culkin, who won the best supporting actor Oscar for his performance in "A Real Pain."

Colman Domingo at the 2025 Oscars.
Colman Domingo at the 2025 Oscars.

Gilbert Flores/Penske Media via Getty Images

Domingo wore a red jacket that was cinched at the waist with a sash and had wide black lapels. Black tassel detailing on the sash added a playful touch. A red button-down, black pants, and black Valentino Garavani Bowow Loafers completed the look.

Domingo was just one of the best-dressed men at the 2025 Oscars who experimented with colorful suits, though he elevated his ensemble with luxury accessories beyond the Omega watch.

Red-tinted sunglasses brought a fun edge. Domingo also wore jewelry from Maison Boucheron, including a bracelet from the brand's private collection, a brooch, a cat ring, and diamond stud earrings.

Read the original article on Business Insider

Swatch — the parent of Longines, Omega, and Tissot — is seeing sales slump, and it's because of China

30 January 2025 at 22:16
A Swatch store in London
Swatch saw its profits slide 75% in 2024 compared to the year before.

John Keeble/Getty Images

  • Watch group Swatch saw its sales decline by more than 12% and its profits by 75% in 2024.
  • It attributed its weak results to a "persistently difficult market situation" in China.
  • 2024 was a bad year for luxury brands, from LVMH and Kering to Champagne producers.

Swatch reported weak sales and a major slump in operating profits in 2024, owing largely to weak demand from Chinese consumers.

The luxury watch group, which owns watch big league brands like Omega, Tissot, and Longines, saw its sales decline 12% and its profits drop about 75% last year.

In the earnings press release published on Thursday, the group posted net sales of 6.7 billion francs, or $7.4 billion. This was a 12.2% decline from 2023 when it earned 7.9 billion francs.

Its operating profit dropped about 75% from about 1.2 billion francs in 2023 to 304 million francs in 2024.

The group attributed the results to a "persistently difficult market situation and weak demand for consumer goods overall in China."

Swatch's press release said sales in China, including Hong Kong and Macau, slid around 30% in 2024.

It also added that there was a "huge drop in demand for consumer goods" in Southeast Asian markets, which it said are "heavily dependent on Chinese tourists."

However, it reported stronger sales in other key markets, such as the US, Japan, India, and the Middle East. It said that in the US, Tissot sales exceeded $100 million for the first time.

Overall, luxury Swiss watchmakers struggled with weak demand in 2024. In September, Bloomberg reported that Girard-Perregaux and Ulysse Nardin, Swiss luxury watch brands owned by Sowind Group, turned to the government for financial support to cope with low demand.

Meanwhile, the Rolex resale market has also been cooling for more than two years after its COVID-era high, owing partly to a surge of watches coming into the market.

A bad year for luxury goods

Watches are not the only luxury products impacted by waning demand in China.

In 2024, overall luxury spending stagnated, and big brands saw their share prices drop. Kering, the owner of Gucci, YSL, and Balenciaga, saw its stock fall more than 40% last year.

And luxury conglomerate LVMH's sales declined by 3% in the third quarter of 2024, partly because of weakened consumer confidence in China.

Representatives for Swatch did not respond to a request for comment from Business Insider, sent outside regular business hours.

Read the original article on Business Insider

3 telltale signs of a fake luxury watch, according to a watch authenticator

29 December 2024 at 16:00
A Patek Philippe watch.
Patek Philippe is one of the most expensive brands.

FABRICE COFFRINI/AFP via Getty Images

  • A premium watch authenticator said there are telltale signs of fake watches.
  • He said with counterfeiters getting more skilled, it is often difficult to tell the real from the fakes.
  • From the paint on the hands to the magnification of the date window, here's how to check.

This as-told-to essay is based on a conversation with Ng Yong Shen, a vice president with Re-Loved Luxury, a Dubai-based secondhand luxury retailer. It has been edited for length and clarity.

My journey in watch authenticating started during the pandemic when I became a purchaser for Valuence, a secondhand luxury goods company.

I went on to pursue similar roles, first as an authenticator for Carousell Group, an online marketplace, and later as a commercial manager at Luxehouze, a marketplace focused on pre-owned luxury goods.

Now, after four years in the industry, my day involves procuring secondhand pieces from online marketplaces or vintage shops, authenticating pieces for corporate clients at midday, and then working as Re-Loved Luxury's vice president, trying to scale up its business.

Through these roles, I have been exposed to a large volume of luxury items on a daily basis. In addition to watches, I can also detect fake bags and jewelry.

The traditional way to authenticate a watch is to open the back case, check for movement, and check for the integrity of the movement.

But the fakes have gotten better lately. I have had cases where the watch was opened by the watchmaker, approved, and then brought to me, when I realized it actually had a fake movement.

Over the years, I've found some telltale signs of a fake watch across different brands. Here are some small things to look out for when checking for the real deal:

1. Details in the date window

The difference between the date windows in a real and fake Rolex watch.
The difference between the date windows in a fake (left) and a real (right) Rolex watch.

Ng Yong Shen

The first thing to look out for is the date window.

These two photos compare two vintage Rolex two-tone Datejust watches.

The one on the left is fake. Pay attention to the date window. The fonts and the spacing of the square are noticeably different.

You can see they both have different fonts. The one that's fake, you can even see some "bleeding" in the lines of the number, while the number on the real deal has crisper edges.

2. Cut and paintwork of the hands

Paintwork on the hands of an Audemars Piguet watch.
Paintwork on the hands of an authentic Audemars Piguet watch.

Ng Yong Shen

The hands feature some very fine details and can be good giveaways for counterfeits.

They are supposed to have a very fine polish. For some fakes, you can see that at the edges, they look like they have been laser cut, snapped off, and stuck onto the watch.

These are ways for counterfeiters to skimp on costs. The very good, authentic ones shouldn't have all of these traces.

Another detail is the paintwork. If the hands have color or paintwork on them, the paint should be even and not bleed down the hand. This can be seen in the authentic Audemars Piguet watch shown above, with its hands painted in orange.

If you see a teardrop or dip in the paint, something is not right. It's better if you have a loupe β€” a magnifying glass β€” to check for the fine details.

3. Construction quality

The Rolex crown on the claps of two watches that Ng owns.
The Rolex crown on the claps of two real watches that Ng owns.

Ng Yong Shen

Premium watchmakers take time and precision to craft these pieces, and this is reflected in the small details.

For example, the lines of the embossed crown logo on the watch's clasp should look crisp and clean, and the area surrounding the crown should not be elevated.

Better safe than sorry

I advise that the best thing to do is to bring your watch to an experienced authenticator for a proper check.

Counterfeiters are getting better, and there are a lot of "Frankenstein" watches with mixed parts.

Sometimes, they use a real watch, meaning that 60% of the components are real. If you open up the watch, you can see the movement is real.

They may just change the dial or maybe the bracelet. If they remove the bracelet β€” swap the real bracelet with a fake one β€” they can make thousands.

So be careful and buy from a reputable seller, or get it checked by an experienced authenticator.

Read the original article on Business Insider

Tom Brady's personal items, including his luxury watch collection, just sold for $9 million at auction. Take a closer look.

11 December 2024 at 11:19
Tom Brady walked the carpet for Netflix's "The Greatest Roast of All Time: Tom Brady," wearing an all-black suit. He accessorized with a Royal Oak Flying Tourbillon by Audemars Piguet.
Tom Brady auctioned items from his personal luxury watch collection at Sotheby's.

Elyse Jankowski/Stringer/FilmMagic/Getty Images

  • Tom Brady auctioned 21 pieces from his luxury watch collection at Sotheby's on Tuesday.
  • His watch collection, which fetched $4.6 million, included pieces from Rolex and Audemars Piguet.
  • Brady's Rolex Daytona Paul Newman 'John Player Special' sold for $1.14 million.

Seven-time Super Bowl champion Tom Brady is passionate about more than just football β€” he also has an extensive luxury watch collection.

Or, he used to.

On December 10, the retired 15-time ProBowler auctioned 21 of his watches at Sotheby's, along with 20 other "treasures" from his football career.

His whole collection brought in more than $9 million, with the watches selling for a total of $4.6 million.

"Watches were really the main story and drew the most value," WatchGuys CEO Robertino Altieri told Business Insider.

The luxury watch industry has experienced major fluctuations in recent years. Following a spike in interest during the COVID-19 pandemic, the industry faced a period of decline.

The overall market index is down 5.1% from 2023, per WatchCharts data from December 9, but the success of Brady's auction should help the industry, Altieri said.

"Seeing Tom Brady attach watches to the sports world as well β€” it's definitely huge," he added.

Brady's auction also reflects the trend of rebooting the luxury resale market through celebrity partnerships. In June 2024, for example, Sotheby's auctioned 11 watches from Sylvester Stallone's personal collection, including his Patek Philippe Grandmaster Chime which sold for $5.4 million.

From a custom Audemars Piguet to the final jersey Brady wore at the University of Michigan, here's a peek at some of the items sold at Sotheby's.

The most expensive watch sold was the Rolex Daytona Paul Newman 'John Player Special.' It went for $1.14 million.
The Rolex Daytona Paul Newman 'John Player Special.'
Brady's Rolex Daytona 'John Player Special' sold for $1.14 million.

Courtesy of Sotheby's

Brady wore the vintage timepiece to the New England Patriots' 2023 home opener, where team owner Robert Kraft famously announced that he'd be inducted into the Patriots Hall of Fame the following June.

According to Sotheby's, the watch was "named after the legendary 1970s Formula 1 livery, because of its black and gold 'Paul Newman' dial" and is "exceedingly rare" due to very small production quantities.

"Beyond its scarcity, the watch radiates an undeniable allure, enhanced by its striking black-and-gold combination and its connection to a golden era of Formula 1," said Richard Lopez, Sotheby's senior specialist for watches.

Brady's custom Audemars Piguet sold for $720,000.
Tom Brady's custom Audemars Piguet Royal Oak Flying Tourbillon.
Brady's custom Audemars Piguet Royal Oak Flying Tourbillon sold for $720,000.

Courtesy of Sotheby's

This Royal Oak Flying Tourbillon by Audemars Piguet features several nods to Brady, including his name set with calibrΓ©-cut and baguette diamonds, the number seven in Roman numerals as a nod to his record Super Bowl wins, and his signature on the rotor, according to Sotheby's.

The watch is made of white gold and also includes "a baguette diamond-set bezel," according to Sotheby's.

Brady wore the watch during his May 2024 Netflix special, "The Greatest Roast of All Time: The Roast of Tom Brady."

Sotheby's previously estimated the watch was worth between $400,000 and $800,000, but Altieri said he'd expected it to exceed $1 million.

"It's not often that brands make a piece unique for someone," he said.

The IWC Pilot's Watch Top Gun Edition "SFTI" exceeded expectations, selling for $42,000.
Tom Brady's Pilot's Watch Top Gun Edition 'SFTI.'
Brady's IWC Pilot's Watch Top Gun Edition 'SFTI' sold for $42,000.

Courtesy of Sotheby's

The IWC Top Gun Edition "SFTI" was estimated by Sotheby's to go for a maximum of $10,000. Instead, it sold for $42,000, more than four times its market value.

"That was a really strong indicator just off the bat that more affordable pieces would go for higher numbers," Altieri said.

"Affordable," in this case, refers to their market value; IWC watches, for example, usually retail for less than $20,000, but significantly exceeded that number at the auction.

Brady famously wore this watch while celebrating at the 2021 Super Bowl boat parade in Tampa Bay after his seventh and final championship win.

Another piece that exceeded expectations was the Rolex 'Batman,' which sold for $60,000.
The Rolex 126710BLNR GMT-Master II 'Batman.'
The Rolex 126710BLNR GMT-Master II 'Batman' sold for $60,000.

Courtesy of Sotheby's

Similar to the IWCs on auction, the Rolex 'Batman' performed well above its market value.

Altieri said the model's market value is $17,000, "but right away the bid went 50, 55, and then it sold for 60."

But while IWC soared, Richard Mille pieces like the 35-03 "Baby Nadal" sold at market value for $384,000.
Tom Brady's Richard Mille 35-03 'Baby Nadal.'
Another watch in Brady's collection is the Richard Mille 35-03 "Baby Nadal."

Courtesy of Sotheby's

This collaboration between Richard Mille and 22-time Grand Slam singles champion Rafael Nadal is best known for its innovative "butterfly rotor."

For those not well-versed in watches, a rotor is a small weight within the watch that swings as the wearer moves, generating energy that winds and powers the watch.

What's different about the "butterfly rotor," according to Richard Mille, is that it "offers the wearer the possibility of varying the rotor geometry by themselves," allowing them to engage in various activities like sports without causing any damage or excessive winding.

Other figures who've worn pieces from Richard Mille and Nadal's collaborations include Jay-Z and Real Madrid's Antonio RΓΌdiger.

Altieri said the watches that "have a lot of hype in today's market" and "attract a lot of media," like a Richard Mille or an Audemars Piguet, didn't perform as well at the auction as he would've expected.

"You would think because it's Tom Brady's name β€” just like the IWCs and the Batman β€” it would at least go for double, but it didn't," he said.

Sotheby's previously estimated the piece would sell for between $300,000 and $500,000.

His Patek Philippe TBXII Grand Comp sold for $264,000.
The Patek Philippe TBXII Grand Comp.
The Patek Philippe TBXII Grand Comp sold for $264,000.

Courtesy of Sotheby's

Sotheby's estimated that this Patek Philippe pocket watch, retailed by Tiffany & Co., would sell for between $200,000 and $400,000.

It ultimately sold for closer to the lower end of its estimate at $264,000, which surprised Altieri.

"I thought there was some potential of something like this coming back into fashion, but it's really a bigger pocket watch. It didn't hit the expectation that I thought," he said.

Per Sotheby's, the "yellow gold open-faced watch from 1917 is a rare example" of the brand's minute repeater, which was first introduced in 1845.

Other items from Brady's football career were auctioned. The jersey he wore in his final game at the University of Michigan sold for $792,000.
Tom Brady's University of Michigan jersey from his last game, the 2000 FedEx Orange Bowl.
The jersey Brady wore during his final collegiate football game at the University of Michigan sold for $792,000.

Courtesy of Sotheby's

In addition to luxury watches, Tom Brady and Sotheby's also auctioned memorable pieces from his playing career.

The best-selling item from his career was the jersey he wore in his final game with the University of Michigan (pictured above), which was estimated to sell for between $300,000 and $500,000, and ultimately sold for $792,000.

Other items included were the Tampa Bay Buccaneers jersey he wore when he broke the NFL's passing yards record, his NFL Combine shirt, and a helmet worn during his last season in the NFL.

"The collection is truly unparalleled; the stories they tell, the authenticity they embody, and their historical significance elevate them beyond mere collectibles," Brahm Wachter, Sotheby's head of modern collectibles, said in October. "These items are genuine pieces of sports history."

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If you want to buy a coveted Patek Philippe timepiece, it'll take patience and a few social skills

21 November 2024 at 10:07
A hand reaching toward a watch
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Harold Cunningham/ Getty Images; iStock; Rebecca Zisser/ BI

  • Patek Philippe watches are some of the most coveted in the world.
  • That's because they're high in quality and have industry-leading features.
  • Watch experts said that buying one requires lots of money, strong social skills, and patience.

Phil Reid, a luxury watch seller based in London, first came across Patek Philippe timepieces "on the back of a magazine."

"No one in my family had a Patek; I didn't come from that sort of wealth," the 30-year-old said, "but they'd be on billboards and in magazines. The marketing would talk about how you'd buy a Patek and pass it down generation to generation. That stuck with me."

By 1845, the Swiss brand, founded six years earlier, had patented key watch features like keyless winding and hand-setting systems, attracting its earliest fans, who included iconic figures like Queen Victoria.

Ever since, it's been known for its status-symbol watches, which can cost hundreds of thousands of dollars when bought directly from the brand or millions each on the resale market.

Still, getting one of the timepieces on your wrist is a tricky task, equivalent to buying a Birkin or Kelly handbag from Hermes.

Reid and Craig Karger, another watch industry professional, told Business Insider that purchasing a Patek Philippe timepiece typically requires patience, a solid relationship with an authorized sales associate, and a lot of money.

"Patek kind of has a stepping stone system to getting the watches that you want," Reid said.

Here's what that path can look like.

Where can you buy a Patek Philippe watch?

Karger, a former lawyer who now runs a publication called Wrist Enthusiast, said that Patek Philippe "generally doesn't own their own stores."

Aside from a handful of boutiques spread across cities like Miami and Lisbon, the Swiss brand sells its products throughΒ authorized retailersΒ worldwide. Watches of Switzerland and Bucherer are two popular examples.

Patek Philippe pieces on display at Watches Of Switzerland in New York City.
Patek Philippe pieces on display at Watches Of Switzerland in New York City.

Eugene Gologursky/Getty Images

Karger recently visited the former to see if he could buy the brand's new Cubitus watch off the shelf. Spoiler alert: He couldn't.

At such retailers, the two experts said you typically need to form a relationship with a sales associate and purchase from them regularly.

"You could buy Rolex. You could buy Cartier. You could buy IWC, whatever the store has, but you're going to have to spend hundreds of thousands of dollars with them β€” and probably more β€” before they start offering you something that's on the very rare side," Karger said.

That's only the first step.

After developing a purchase history of various watches, you'd likely be introduced to Patek Philippe's classic pieces. These variations are luxurious, of course, but not as highly in demand as other Patek watches, like those in the Nautilus and Aquanaut families.

Still, Reid added, completing that step is no small feat. He said these simpler pieces are offered "almost as a privilege," and buying one is another necessary step to being offered more popular styles.

"If you're really buddy-buddy with the salespeople or if you are an influencer or a celebrity, maybe you can bypass some of these steps," Reid said, "but Patek is probably the strictest amongst all the brands with who they allocate watches to."

"They're very, very selective, very careful," he continued. "They will vet everybody meticulously to make sure that they don't resell."

Representatives for Patek Philippe did not respond to a request for comment from BI on its sales processes.

A Paris Fashion Week attendee wears a Patek Philippe Aquanaut watch.
A Paris Fashion Week attendee wears a Patek Philippe Aquanaut watch.

Jeremy Moeller/Getty Images

Pay your dues, or pay a hefty premium β€” the choice is yours

If buying directly from Patek Philippe sounds too daunting, there's always the secondary market. That's where many Patek pieces end up, Karger said.

Some shoppers find buying resale largely beneficial; they can find rare watches and discontinued pieces and save time and money.

"If you have somebody that doesn't want to put in two or three years and spend $50,000 to $100,000 on stuff that they don't want, they can come to businesses like mine," Reid said.

On the flip side, you have to be prepared to pay premium prices.

"Some watches may retail for $50,000 but sell for $150,000 on the secondary market," Krager said. "As long as you're willing to pay that, you can get it leave with it on your wrist that day."

The new Cubitus design is a perfect example. While Patek Philippe's suggested retail price ranges between $41,240 and $88,380 each, the pieces are currently on the resale market for between $127,500 and $238,000 each.

Reaching the level of Patek Philippe

When collectors, jewelers, and other fans discuss Patek Philippe watches, awe almost always enters their voices.

The luxury brand "stands above the likes of Rolex and Audemars Piguet, just because of their quality," Reid said, adding that other high-end watches have "service issues" and don't last as long as they should. "I've never really heard anybody have issues when they've bought a Patex Philippe watch."

Brad Pitt wears a Patek Philippe watch while in Venice.
Brad Pitt wears a Patek Philippe watch while in Venice.

JB Lacroix/Getty Images

Variety also plays a huge role in the appeal of Patek watches.

"As a luxury brand, it's kind of different from everyone else," Krager said of Patek Philippe. "They make something that could fulfill any kind of itch you have at that time β€” whether it's a sports watch or something crazy with really high-end complications."

But maybe the most attractive quality to shoppers is that owning one is still extremely rare, no matter how many Patek watches are on the resale market. Both Reid and Krager, for example, have yet to have Patek pieces in their personal collections.

But if you are one of the lucky ones who's bought a Patek directly from the brand? You basically got a two-for-one deal: a luxury watch and the bragging rights to say you bought one of the most exclusive offers in fashion.

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