Amazing Results for Monaco Legend Auctions during the Fall Season Kick-Off at the Côte d’Azur
- Oliver Knop
- 23. Okt. 2025
- 5 Min. Lesezeit
I did not regret a second traveling to Monaco for the October sale of classic timepieces. Already getting off the flight, the air was mild and smelled like spring. No work for the day, but rather viewing of some of the most beautiful timepieces ever! Of course, the event is also where people meet. The travel day was one of the rare occasions when everything seems to fall into place without effort, including the clean Uber into Monaco and the high-up hotel room that was all set for me although I checked in early at 10:30 am on Thursday.
Perhaps surprisingly, in comparison to Geneva, the atmosphere is more relaxed and grounded in Monaco. Additionally, arriving on Thursday proved a good decision, since the preview was already open, but people only started to come in. The mood was great and that is reflected in the success of the sale. An impressive overall result of € 28.5 m at a likewise strong sell-through rate over 97% speak for themselves. On average, all lots (excl. lot 111 without high estimate) sold at index 111 over their median taxation, further demonstrating the strong interest in the sale.
The three top brands, Rolex, Patek Philippe and Cartier accounted for over 60% of the lots and over 85% of the sales. Add the two expensive FP Journes (lot 81, 152) in the sale and the share is over 90%. It is interesting to note the growing number of Cartiers seen at auction in general, 36 lots in this sale alone. It was a Cartier too that delivered the biggest surprise on the weekend. The unusual Dual Time Zone watch from Lot 64 beat its higher estimate of € 10.000 by ten times and sold at € 104.000.
Of course, following the title lots, ie. the Mondani Rolex and the Patek Philippe with the Cloisonné dial was most exciting. At a hammer plus premium of € 5.3 m., the Mondani Rolex 6062 with black diamond dial equaled the CHF 5.1 m record for the Bao Dai with a similar dial from 2017. To fully appreciate the strong result for the Mondani Rolex this weekend however, it is important to remember that the Bao Dai watch came with an important and well documented provenance and seemed to be barely used. In comparison to its last public appearance in 2006, the value of the Mondani watch has increased by more than ten times. The Patek with the Gaugin inspired cloisonné dial sold at € 936.000, exceeding its high estimate by 17%. Beauty, quality and rarity are always in demand.
I also discussed the two Patek Philippe Chronographs with perpetual calendar and phases of the moon display, ref. 1518 from Lots 170 and 220. I urged those, seriously interested to find out exactly what is driving the rather significant difference in their valuation. Lot 170 was fresh to the market and had a rare dial, yet its high estimate of € 1.0 m was 30% lower than that of lot 270. Corrado Matarelli of MLG presented the two watches alongside and the difference became obvious. Objectively, both were in a similar shape but lot 270 radiated the kind charisma that only comes from perfectly aged beauty that never needed cosmetical enhancement. It went for € 1.4 m, hence outdoing Lot 170 by almost 80%. The difference in taxation was more than confirmed at auction. Lot 270 ended up being number 3 of the sale, behind the ‘Mondani’ Rolex and the FP Journe ‘Astronomic Souverain’ super complicated wristwatch that sold € 1.5 m.
The Rolex Art Deco chronograph described in my preview (Lot 175) was another time capsule. Its design is so extraordinary that it is likely to continue its life in the vault or better a museum. However, the visual harmony of the ‘pink on pink’ case and salmon dial, the utmost rarity of the model in combination with its ‘like new’ condition, delivered in its original box made the difference. Intense bidding put the value of the watch to € 221.000, plus 38% vs. the high estimate. The ‘Rolex Oyster’ chronograph with glossy black dial on the other hand did not sell, despite its Rolex service and attestation. Neither did the golden GMT-Master in lot 63, despite its moderate estimate, that was however above similar lot 183. Is a very rare model both, lot 63 and 183 were in very good condition, but lot 63 had the hands partly replaced and a later date bezel. This shows how strict the market has become. Such spare parts can still be found and replaced, yet the lot did not find a buyer.
The two Rolex calendar chronographs ref. 6036 from Lot 54 and 186 sold too, but the comparison between them is another impressive reveal of how polarized the market has become. Lot 186 went for € 104.000, lot 54 achieved € 676.000. Both were in astounding original condition, especially their notoriously fragile gold cases were strong and crisp. Lot 54 was a much rarer rose gold example with two-tone dial and a ‘Serpico Y Laino’ dealer inscription, original in all visible parts right down to its ‘Super Oyster’ crown. Like the two Pateks described above, the difference only became obvious when comparing the two watches side by side. It was not just the case metal or the dial that made the difference, it was the combination of all the elements that let lot 54 sell at 6 times the price of lot 186.
The custom Asprey Submariner in steel with lapis lazuli dial and sapphire bezel (lot 78) sold at € 234.000, hence triple its higher estimate. A prototype Day-Date in steel with ‘buckley dial’ from the 1970’s (lot 249) sold for an amazing € 152.000 against a high estimate of € 40.000. The unique Cartiers with burgundy dials from lots 92-94 were all sold at a premium against the described equivalents from regular production (lots 124, 247) too.
At the end of the day, it was Patek Philippe and Rolex again that made the difference. Seven of the Top 10 lots were Patek Philippes, among them all of the complicated timepieces (Lots 20, 73, 132, 213), I discussed in comparison with FP Journe’s ‘Astronomic Souverain’ (Lot 152). After Vacheron Constantins' unique piece ‚Ultra Grande Complication‘, this FP Journe has got to be the most complicated wristwatch on the market today. That may justify the premium, it achieved even over the most complicated Patek Philippes in the auction. FP Journe has been tremendously successful at auction in recent years. However high average prices make this brand a hobby just for a few. With 2 watches, FP Journe accounted for 6 % of total sales, Cartier accounted for just 7 % of total sales with 36 watches. Lower average prices and strong momentum make Cartier an interesting entry level brand today. Let’s review what the Geneva auctions in November have to offer next!
