Patek Philippe Ref. 1518(Jean-Claude Biver collection)
What happened in the watchmaking world in the first half of this pandemic-ridden 2020? There were two opposite consequences: exports of new timepieces dropped dramatically, while the vintage market, especially the big brands such as Rolex, Patek Philippe and others, experienced a surge that still continues. Among the reasons, there is the fact that being at home more, many collectors have had time to devote to their hobby, while others have discovered a new passion. The figures speak for themselves: a Christie's auction in early 2019 fetched almost USD 2 million; the same auction house this year, again in the first few months, raised USD 1.8 million, but even better was the online auction in May, with just over USD 5 million in 2019 and over USD 12 million in the same period in 2020. The same goes for Phillips, which sold timepieces worth 25.7 million Swiss francs in the May 2019 event and even 30 million Swiss francs on the weekend of 27-28 June 2020 with 100 per cent of lots sold and 2,000 online buyers from 70 countries. On this occasion, a 1948 Patek Philippe Ref. 1518, belonging to the collection of Jean-Claude Biver, was sold for 3,400,000 Swiss francs, setting a world record.
