Key Figures from the sales held between the 18th and 21st July 2016 in Monaco:
For the 4th time, Artcurial totals 10 M € / 11 M $ in Monaco
World Record for a collector watch auction organised by Artcurial
34 nationalities represented
73% foreign buyers.
Monte-Carlo – After three full days of auctions held 18-21 July 2016, the traditional auction week of luxury objects organised by Artcurial in Monaco totaled 10M € / 11,1 M $ marking the fourth consecutive year of impressive figures.
Bidders flocked to the beautiful Belle-Époque salon of the Hermitage Hôtel for the auctions.
Photo credit Sidney Guillemin
The 2016 edition stands out for the strong presence of international buyers. Thirty-four nationalities were represented and foreign buyers made up 73% of the sales. For the jewellery and Hermès Vintage section, this figure went up to 88%.
“With over 2,000 people visiting the exhibitions and auctions, this 11th edition confirms Monte-Carlo’s place at the heart of luxury auction world. Each year, we have a strong following of local and international collectors who are joined each year by new clients. With 34 nationalities represented in 2016, our sales prove how Artcurial is able to go beyond borders. We are already looking forward to our winter season in Monaco in January 2016.”
François Tajan, Deputy Chairman, Artcurial
The week of sales ended on 21st July at 6pm with a charity auction organised in the presence of S. AS. Prince Albert II of Monaco and symbolizes Artcurial’s involvement with Mission Enfance. This collaboration demonstrates how the auction house is participating in social issues linked to our modern society.
Artcurial put over 550 pieces up for auction in Monaco this summer. By the end of the three sales organised on 20 and 21 July, 65% of the lots were sold for an impressive 6 045 800 € / 6 710 838 $.
The star item was a stunning ring with an exceptional 6,86 carat Cashmere sapphire sold for 610 600 € / 677 766 $.
“The rare pieces signed by the prestigious jewellery brands were particularly in demand and the collectors fought over the telephone and in the room for the most beautiful jewels. The Suzanne Belperron pieces were much awaited and a historic bracelet by Cartier made from ivory and onyx remains my favourite memory this year. Dating back to 1919, it almost quadrupled its estimation.”
Julie Valade, Director Jewellery Artcurial
Whether it is for exceptional pieces or well-known objects, the big jewellery names boasted top results:
Van Cleef & Arpels proved to be a sound bet with stable prices from the classical Alhambra necklace made of gold and lapis lazuli which was sold for 23 400 € / 26 974$ (estimation 6000 – 8000 €), the dainty Campanules corset clip entirely covered in diamonds and emeralds reached 161 700 € / 179 487 $ which was over double its estimation.
Another key brand from Place Vendôme, Cartier experienced similar results. A historical piece, the Soundanais bracelet made from ivory and onyx in 1919, shot up to 58 500 € / 64 935 $, roughly 12 000 – 15 000 € over its estimation. A bracelet made with five cabochon emeralds surrounded by six half sized diamonds was also a success and it was sold for 139 400 € / 154 734 $ including premium, multiplying its initial estimation by 3,5 and highlighting the emerald focus of the entire auction.
Photo credit Sidney Guillemin
The seven pieces by Suzanne Belperron once belonging to an elegant Parisian went for high-flying results after several battles between collectors. The pair of Spire broaches was acquired for 105 900 € / 117 549 $.
Finally, the three works by Salvador Dali, a gold chandelier La Mite et la Flamme and two pieces of cutlery, Cuillère Escargot and Fourchette Escargot were sold for 275 800 € / 306 138 $ and 26 000 € / 28 860 $ each including premium. They excelled and went over their estimation to join the collections of a German museum institution.
The watch auction held by Artcurial in Monaco on 21 July totaled 2 931 720 € / 3 254 209$ and set a record, up 60 % compared to the summer 2015 edition. It was the most important watch sale organised to date by the auction house and stood out for the vast number of international collectors representing 28 different nationalities, responsible for 75 % of sales.
“With almost 3M € / 3,3 M $ this year, we reach a record headed by Rolex Triomphe. The most important international collectors from around the world, travelled to take part in the auction. The private collections which we gathered thanks to our European network were a huge success. This was particularly the case for the pocket watch collection.”
Marie Sanna-Legrand, Director Collector Watches Artcurial
Ever faithful to its collectors, Artcurial was happy to offer four watch collections from around Europe at auction.
Without any real surprise, the true star for the auction was Rolex, closely followed by Patek Philippe and sale results confirm the interest in vintage watches.
A Rolex watch obtained the highest bid of the auction for an exceptional model: the chronograph Eagle Al Makhtoum Daytona made in 1973. The watch went over its initial estimation and reached 186 500 Euros / 207 015 $.
The pocket watches belonging to a German aristocrat were a success just like the Patek Philippe Secondes Indépendantes from around 1868 which sold for 39 000 € / 43 290 $ over three times its estimation.
A rare and exceptional gold watch fabricated by the Uhrenfabrik Union manufacturer, near Dresden, sold for 55 900 € / 62 049 $, beyond its estimation of 30 000 – 40 000 €. It was special order made by an important German aristocrat family. Dating back to 1895, it had remained within the family since this date.
A Cartier table-clock from 1900 doubles its estimation and went for 24 700 € / 27 417$.
Finally, it is worth mentioning the growing interest in ladies’ watches, especially jewellery watches. An elegant Vacheron Constantin set with diamonds and sapphires almost doubled its estimation and went for 39 000 € / 43 290 $. This was also the case for the Piaget models like the Beta 21 tiger eye which sold for 10 400 € / 11 544 $, double its estimation.
Hermès Summer Collection
The Hermès Vintage bags went under François Tajan’s hammer on 20 July and ended a busy week of Artcurial luxury sales in Monte-Carlo. The auction totaled 818 890 € / 908968 $ going well over the total estimation with 82% of the lots sold.
A rare Birkin Himalaya bag dominated the auction and was sold for 70 000 € / 77 000 $. Even less known models were a success among collectors like the Birkin 35cm graphite veal bag which doubles its estimation and reached 13 000 € / 14 430 $.
Special orders, limited editions and exotic skins are still in high demand. The Birkin Grizzly was sold above its estimation for 16 900 € / 18 759 $ and the pale green Mini Kelly sold for double its estimation at 32 500 € / 36 075 $.
Photo credit Sidney Guillemin
“Cosmopolitan and elegant, Monaco is the strategic destination for the Hermès Vintage Sales with a large number of amateurs collectors. Today the market has developed and became more and more international over the past few years, it is mature and as the results show, the prices are in the higher bracket of the estimations”.
Pénélope Blanckaert, Director Hermès Vintage & Fashion Arts, Artcurial
Turn out was high among Monegasques and international collectors at the much anticipated biannual event. Foreign buyers were responsible for 88% of the sale volume who snapped up the key models from the Faubourg Saint Honoré brand. The Kelly, Birkin and Constance bags were on offer in a range of colours and skins.