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Preface: From Past to Future by Osvaldo Patrizzi
by Osvaldo Patrizzi
Sometimes it’s simply a ‘spark’ that ignites the interest that then becomes the passion of watch collecting. This passion may take many different forms and directions, from the elegant, simple dress watch to the complicated wristwatch. The complicated wristwatch fascinates us and takes us into the world of wonder, where minute-repeaters, perpetual calendars, chronographs, and such, mesmerise us with their precision, beauty, and functionality. One might, however, be drawn to timepieces that serve purely practical functions, such as the diver’s, sports, military, or world time watches; these are found in so many different styles, forms, designs and materials that they fill the collector with enthusiasm. Some individuals approach collecting out of pure passion, while others decide to invest in their passion. The Investing in Wristwatches series of monographs is aimed at both types of collector – to inform them of the directions of the markets and the evolution of values from the beginning of this interest in the 1980s to the present day.
The worldwide exponential growth in this sector of horology has continued, despite the financial crises of the late ’80s and early 2000s and new world records continue to be set in the auction world today. The goal of these books is to provide information based on official results, which translate to a real market basis. Some pieces that failed to sell at auction are included, as they are indicative of the market in that moment. Conversely, not all of the watches sold are present in the books, only those that seem to me to be the most representative for the purpose of the monograph; by omitting the occasional excesses, both in the high and the low prices achieved, it offers a truer picture. To provide a clearer understanding of prices reached during the sales, a list of the different currencies and their comparative values for that particular time period is included on p.318. An interesting point to keep in mind is that the watch purchased today may very well be the collector’s watch of tomorrow.
Thanks to the collaboration with Sotheby’s auction house, we can show the prices for a timepiece of the same reference from the ’80s through to the most recently held auctions prior to the printing of each book. A comparative analysis of these results enables a better understanding of the evolution of the market value throughout the years, thanks to Sotheby’s Worldwide allowing us access to their photographic archives and price results. We have chosen Sotheby’s over other important auction houses, in order to maintain a stable average and linear progression of results over time. We would especially like to thank Daryn Schnipper, the Chairman of Sotheby’s International Watch Division, and all her team.
To write these books I have asked Mara Cappelletti for her assistance. Mara is a journalist specialising in luxury products, as well as a jewellery and watch historian. We have collaborated on several watch books in the past, with great success. I would like to thank Mara for all her help – her assistance producing these latest books has greatly eased the process.
The first monograph of this series is dedicated to Rolex, one of the most prestigious brands in the world.