The other day, Phillips announced Phillips PERPETUAL, an always-on showroom of curated horological goodness. Because while blockbuster sales of celebrity pieces have a place, the opportunity for mass volume sales and Phillips, along with the other major auction players is jumping at it.
For an in-depth look at the ever-changing business of selling very fine secondary market watches, this piece over at Le Monde Edmond is well worth a read.
Twenty years ago, no one was able to buy or sell a fine collector’s watch if it was not via a public platform such as a tradeshow, a dealer or most importantly via an international auction house. The same applied to scholarship: It was only accessible on a personal, one-to-one basis, meaning, the person sharing it with you had to be in front of you.
Today with Instagram and other social media, things are radically different. On the whole – all players have benefited – including auction houses. Bacs describes it as a wonderful new democratic platform that has been ‘an amazing trampoline for collectors, dealers and auction houses’.