Bloomberg is reporting that Christie’s International raised 19 million Swiss francs ($19 million) in the biggest watch auction this year. Included in the lots was a collection of 10 Patek Philippe watches for almost double the low estimate.

Nine of the top 10 lots were Patek Philippe, and one was Rolex, in the auction that took place in Geneva. Christie’s estimates the entire sale to raise 10 million francs to 15 million francs.

The most expensive timepiece was a Patek Philippe 18-carat gold watch with a calendar that adjusts for leap years, sold for 2.4 million francs to a Swiss museum, Christie’s said. The collection of Pateks sold for 5.8 million francs.

Watch auctions have been successful, reports Bloomberg, even as Swiss watchmakers suffer from the worst recession since the Great Depression. Rare pieces continue to attract more demand than newly made watches, as Swiss watch exports have dropped 26 percent in the first nine months of this year in value.

A Sotheby’s auction of timepieces in the same Swiss city on Nov. 15 raised 5.1 million francs, within the auctioneer’s estimated range of 4.15 million francs to 5.71 million francs.

In other watch news, the family that controls Porsche SE, the maker of the 911 sports car, is selling watches from its private collection at a charity auction in London today.
Ferdinand Alexander Porsche and his sons have entered 49 watches into a sale to be held by Bonhams on Dec. 2.

The group includes examples by Eterna, Porsche Design, Rolex, Panerai, Jaeger LeCoultre, Breitling and Omega, is expected to fetch 100,000 pounds. Proceeds will be donated to the oncology research department of the Robert Bosch Hospital, Stuttgart, Germany, said Bonhams.

National Jeweler has published an article covering the sale of watches and memorabilia from the late Steve McQueen, the legendary actor who rose to fame during the 1960s in films such as Bullitt and The Great Escape. The McQeen stash was among the pieces that inspired serious bidding at Antiquorum’s summer auction in New York City.

The June 11 auction brought in a total of $5,706,324, reports National Jeweler, with McQueen’s vintage Rolex, Ref. 5512, fetching an impressive $234,000, which was twenty times its estimate and a world record for that reference.

A total of 81 percent of the 416 timepieces in the summer auction were sold by lot and 122 percent were sold by value. Bids came in from across the globe, including from Hong Kong, Taiwan, Italy, Germany, France and Romania. In addition to the telephone, room and commission bidders, 478 bidders competed via the Internet.

Among the additional McQueen pieces featured in the sale were the actor’s Scott Super Squirrel motorcycle painted by Von Dutch, which sold for $276,000, double its estimate, and the Heuer “Monaco” he wore in the 1971 racing film Le Mans, which sold for a world record $87,600.

Other watches that sold for impressive amounts included Patek Philippe’s rose gold Ref. 5004 and pink gold Ref. 5970, which sold for $252,000 and $132,000, respectively, as well as Patek’s “Limited Edition Annual Calendar with Silicon Escape Wheel,” Ref. 5250G, which fetched a record $138,000.

Rolex’s “Double Red Sea Dweller,” retailed by Cartier, sold for $91,200, and Ref. 6239, a stainless steel “Paul Newman Daytona” attained $84,000, while the “Pro-Hunter Black-Carbon Daytona” sold for $42,000.

In addition, A. Lange and Sohne’s “Pour Le Merite” sold for $156,000, and Jaeger-LeCoulte’s “Platinum Master Minute Repeater,” sold for $126,000.

JCK Online reports that Mahatma Gandhi’s pocket watch and personal belongings realized just under $2.1 million as part of the Antiquorum Auctioneers sale of Important Collectors’ Wristwatches, Pocket Watches & Clocks, held March 4 and 5 in New York.

The auction as a whole took in $8.7 million. More than 500 online bidders, in addition to room and telephone bidders, bought modern and vintage watches at 142 percent of their low estimate resulting in 75 percent of all lots sold, the auction said in a statement. Gandhi’s pocket watch, sandals, glasses, bowl, and thali were sold for $2.096 million to what the auction house described as a “prominent Indian businessman who intends is to bring the items back to India for permanent public display.”

“Despite continued global economic concern, we have achieved tremendous results for our first auction of 2009,” said Evan Zimmermann, Antiquorum president and chief executive officer.

“Antiquorum is pleased that the objects attributed to Mahatma Gandhi, one of the greatest spiritual and political leaders of the 20th-century, will be returning to India, added Robert Maron, Antiquorum chairman. “We know that this was the hope of the Indian people, as well as many others around the world.”

The auction also included a watch belonging to both U.S. president John F. Kennedy and Greek shipping magnate, Aristotle Onassis. Known as the Kennedy Onassis watch, it is the only known item connecting JFK, Jacqueline Kennedy, and Aristotle Onassis. It fetched $120,000.

Another watch of great significance in the sale was the Patek Philippe Henry Grave’s platinum minute repeater, which sold for $630,000. The watch belonged to the late Henry Graves Jr. who inspired Patek Philippe to create some of its most complicated watches to date.

In addition, the “Giuseppe Bonanno” 1950’s Patek Philippe watch sold for sold for $36,000. Bonanno was an original member of the “Commission” whose purpose was to establish rule by consensus amongst the New York crime families and is thought to be the inspiration for the character of Vito Corleone in Mario Puzo’s “The Godfather.”

Several other Patek Philippe timepieces achieved excellent results, including: The Ref. 5016 in yellow gold, lot 536, fetched $ 494,000; the “TV Watch” in white gold, Ref. 5020 (lot 526), sold for $180,000; the Ref. 3970 in white gold (lot 525) attained $ 108,000; and the yellow gold “Celestial” wristwatch (lot 120), which sold for $186,000.

An Audemars Piguet watch, the “End of Days,” (lot 435) sold for $ 42,000. A Cartier Art deco desk alarm clock sold for $32,400, three times its’ pre-sale estimate.

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Do you have a mechanical timepiece or used watch that you are looking to sell in San Diego? If so, read this article before approaching a buyer: San Diego Tips: Selling Your Used Watch.

Just because you live in San Diego, doesn’t mean you can’t take advantage of MiBid (Michigan State’s Budget Office’s online auction Web site), which is now offering a wide and weird variety of used items to the highest bidder.

“We’ve been doing online auctions since August 2000 but have really moved to doing most of business online in the last six years,” said Kassie Kretzschmar, director of communications for the Department of Management and Budget. “Last fiscal year we did $2.3 million in gross sales online. With our economy the way it is, people are going online to look for the best deal.”

Items for bid include electronics, tools, office furniture and vehicles, all of which generate revenue, she said. Among the items are things confiscated by police agencies, for child support and property abandoned in airports, she said.

For example, the Hamburg Township Police Department in Livingston County began auctioning old evidence and property seized in drug forfeitures on MiBid about two years ago, including expensive jewelry and watches, said Sgt. Gary Harpe. “This is property that really has no value to us but has value to somebody,” he said.

The department also auctions off its unneeded motorcycles and patrol cars, Harpe added. “We may only receive a few thousand dollars for it, but it’s a huge help,” he said. “In today’s financially poor times, it’s a way to generate revenue for our police department. Any money we receive is certainly a help.”

New items are added continuously to the Michigan site. Check out the latest by clicking on this auction link.

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There are many good online auction sites which San Diego residents can visit to find excellent deals on watches and jewelry. The website iGavel.com is an excellent example. Read an article about that auction site here: iGavel Auctioning Vintage Jewelry and Watches.

San Diego holiday shoppers should take note that iGavel (a leader in online auctions) is currently hosting an online jewelry auction. As we are now in a buyer’s market, iGavel has worked with many of its consigners to lower estimates and reserves in order to have a successful auction. Therefore, this is a great time to purchase jewelry at prices that are more reasonable than have been seen in years.

The auction includes a varied selection of vintage and designer jewelry. Recent highlights have included a 3 carat sapphire and diamond ring, estimated at $1,200-$1,800 with a starting bid of $800; a Diamond, Gold and Pearl Convertible Brooch or Pendant, estimated at $2,500-$3,500, with a starting bid of $1,800; and an Antique 14K White Gold, Emerald and Diamond Pierced Work Horizontal Brooch, with the emerald under 2 carats, and diamonds totaling close to four carats. This piece is estimated at $3,000-$5,000, with a starting bid of $1,995.

The watches included in the iGavel auction are often exceptional. Over the past ten days, items have included a Bovet, Fleurier, Enamel and Gold Open Face Key-wind Watch for the Chinese Market, 19th Century, estimated at $500-$700, with a starting bid of $250; a Gold and Enamel Keywind Watch, Just & Son, London, 19th Century, Estimated at $800-$1,200, with a starting bid of $500. Also included is a Gold Cartier Ladies Watch, Paris, late 20th century, from a private South American collector. This piece is estimated at $2,000-$3,000, with a starting bid of only $900.

Check out iGavel.com to see if these items are still up for auction, and to discover what other new jewelry and watches have been placed up for bidding.

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Shoppers in San Diego take note that a huge stash of gold coins, jewelry, and other gold items are soon going to be up for sale. Read the details about the auction at: Treasure Trove to be Auctioned.

City Loan has announced that the company has aligned itself with Abes Pawn Shop in Santa Clarita, California. City Loan hopes that the partnership will increase the company’s exposure to this market, thus eliminating the need for it to open a bricks and mortar location with its subsequent costly overhead.

Thomas Baye, the owner of Abes Pawn Shop, says that they will be able to service more customers and provide other lending options using the methods that City Loan offers them. He believes that in partnership with City Loan they can grow their business with a better product than other lenders offer, while enhancing their competitiveness.

This pawn shop alliance is part of City Loan’s effort to build new partnerships with established, smaller lenders, in order to expand its portfolio growth into areas where they do not have physical locations, and where the car loan market is currently underserved. William Atkinson, President and CEO of City Loan, Inc., believes hat these partnerships will increase the company’s bottom line, without driving up costs. The alliance with Abes Pawn Shop in Santa Clarita is said to have been designed to mend a gap in City Loan’s consumer territory and create a synergistic profitable endeavor for all involved.

Keep on the lookout for more alliances like this, especially in San Diego and other metropolitan areas, as traditional lending options continue to become more difficult.

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Are you a watch collector and a fan of fine timepieces such as Rolex and Patek Philippe? Then you’ll be happy to hear that: The Collectible Watch Market is Red Hot.

Looking further proof that the collectible watch market is going like gangbusters? Here it is: One day after Antiquorum brought in nearly $10 million at its fall clock and watch auction, Sotheby’s hauled in nearly $4.1 million in New York at its Oct. 17th auction of “Important Watches.” Like Antiquorum, Sotheby’s saw strong interest from buyers not only in the United States, but also Europe and Asia.

What were the hot tickets? No wristwatches from Albert Einstein this time. Instead, there was a chronograph pocket watch from the American watchmaker Waltham Watch Co. that went for $266,500. That price was five times the pre-auction estimate and a world record for an American watch, not to mention Waltham itself.

The Swiss were not to be outdone. A Breguet platinum tourbillon which was made to honor the company’s 250th anniversary took in $350,000 at the gavel drop. Looking to get in on the action? The next Sotheby’s watch auction will be the “Fine Watches” sale on December 18th in London. Mark your calendar.

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If you are wanting to read more about red hot the collectible watch market in San Diego and countrywide, then be sure to check out this article: Antiquorum Watch Auction Sees Record Sales.

It is not only jewelry auctions that have been exceeding expectations lately as investors continue to move money into hard assets. Antiquorum reports that its first auction of the fall season brought in $9,892,812 from its sale of collectible clocks, pocket watches, and wristwatches.

In total, 404 pieces were sold. 34 percent of the items were bought via Antiquorum’s online bidding system. Buyers logged in bids from countries around the globe, including China, Germany, and Russia.

The highest sales price went to a Patek Philippe “First Series,” which scored a final bid of $1,514,400. But it was a wristwatch formerly owned by Albert Einstein that sparked the auction’s most intense bidding war. When the gavel dropped the Longines watch from the famed physicist was sold for $596,000, more than 2,000 percent its original estimated value (the highest price ever paid for a Longines wristwatch). Rolex also earned a record amount for its “Platinum Day Date” wristwatch which went for $78,000.

You certainly aren’t going to find those kinds of watches at a San Diego pawn shop, but the these auction results should show you that if you are in need of a good sized cash loan from a pawnbroker, a collectable watch is one of your best items to use as collateral.

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Have you been wondering just what estate jewelry is? Then wonder no longer. We’ve detailed it in this article: What is Estate Jewelry?

San Diego Jewelry Buyers (SDJB) has announced this week’s addition to its Knowledge pages for consumers interested in selling or collateralizing their fine jewelry, diamonds, watches, and gold. The article is titled “A Brief History of Pawn Shops,” and it adds to SDJB’s growing list of helpful information, facts, and tips involving jewelry, precious metals, timepieces, and luxury brands.

“While San Diego Jewelry Buyers isn’t a ‘pawn shop’ per se, our business model certainly traces its history to the pawn shop, which is the world’s oldest financial institution,” says co-founder Carl Blackburn. “Sometimes we forget just what a valuable and needed service pawn shops have provided down through the ages, such as when Franciscan monks served as pawn brokers to help the needy or when the Queen of Spain pawned her jewels to finance Christopher Columbus.”

The new article published by San Diego Jewelry Buyers also goes on to discuss other historical aspects, such as where the word “pawn” gets its name; the symbology of pawn shop signs in Europe and Asia; interest rates on loans; and unique aspects of pawn shops in different parts of the world. “This certainly isn’t a comprehensive history of pawn shops,” says Mr. Blackburn. “But I think it does provide readers with a better idea of just what an integral role pawn shops have played in our evolution as a civilization. And which they continue to play, especially during the kind of difficult economic times we are currently experiencing.”

According to Blackburn, businesses like San Diego Jewelry Buyers have evolved from the traditional pawn shop into luxury product specialists who buy such items as fine jewelry, watches, and diamonds, as well as provide loans on these items. In addition, they offer special value added services. For example, SDJB offers a 1 month interest free loan to those consumers not fully satisfied with the company’s initial buying offer, during which time a higher price for the item is sought.

To read the History of Pawn Shops and other articles by SDJB, please visit their Knowledge pages at: http://www.sandiegojewelrybuyers.com/knowledge.html

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Do you love diamonds and diamond jewelry designers? Then here is one designer you need to know about and who you will love: Stephen Webster: Diamond Fanatic.

Buyers and sellers of collectable watches in San Diego will be interested to hear that Antiquorum (the world’s premier watch auctioneer) has opened a Los Angeles office due to an expanded clientele on the West Coast, reports National Jeweler Magazine. The new office is located at 468 N. Camden Dr. in Beverly Hills, and adds to a U.S. presence that already includes headquarters in New York City. Clients will be able to inquire about auction estimates for their watches, consign to upcoming auctions, and ask for advice on timepieces.

Charles Tearle will run the Los Angeles office. Tearle is a veteran of the watch industry and specializes in wristwatches from the 1920s to the 1970s. He recently joined Antiquorum as director and watch expert with a particular interest in Patek Philippe, Cartier, and Rolex sport watches.

Tearle began his distinguished career in horology at Somlo Antiques (a prestigious vintage watch store based in London). He became a watch specialist at Bonhams London in 2004, and two years later was asked to open a watch department for Bonhams in the United States. He is a regular guest on the television series Antiques Roadshow.

About Antiquorum

Antiquorum recently celebrated its 30-year anniversary, after having successfully carved its own unparalleled niche in the auction world. Established in Geneva in 1974, the company has cultivated a thriving collector’s market for timepieces worldwide. In 1994 it added its New York affiliate Antiquorum USA, and since then has continually realized the most impressive world records for sales of watches, clocks, wristwatches, regulators, and marine chronometers at auction.

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If you are a coin collector in San Diego, we have some news that may be of interest to you: US Mint Halts Sale of Gold Buffalo Coins.