results were healthy enough, but the action on the floor was mostly serene. Serenity seems to be the tone across the watch industry in 2024, from—when production slowed and neophyte “pandemic collectors” drained supply—2024 is shaping up to be downright dull by comparison.Jay-Z Rocked a Rare Patek Philippe Grand Complication Watch at the Champions League FinalFor experienced watch collectors, however, dull markets can be rather interesting.
Also interesting is that the high earners for Patek were not the Nautilus and Aquanauts that were so hot during the pandemic, but classically styled dress watches.With these two thoughts in mind, we see solid—and indeed dominant—results for Patek Philippe, but not especially astounding results. One buyer paid $2.7 million for a 1947 Patek Philippe 1518 perpetual calendar chronograph with a salmon dial, which is a strong result, but not especially hot for that piece.
EveryWatch reports that in Geneva this spring a solid $60.4 million in watches with leather straps sold compared to just $9.8 million for watches on bracelets .
Barring some unforeseen event, as I look at the vintage watch market this spring, I feel relatively confident that these trends toward smaller dress watches and away from sports watches will stay relatively stable for the time being. Happy collecting!Allen is Robb Report's digital watch editor. His writing and photography have appeared in Fortune, Hodinkee, WatchTime, International Watch and many others.