UPDATE: Pharrell Williams’ auction house, Joopiter, has just announced a groundbreaking sale of luxury watches, totaling over $1 million, during a highly anticipated auction in July 2023. This exclusive event attracted wealthy collectors and showcased a curated selection of rare timepieces from esteemed brands including Rolex, Cartier, and Richard Mille.
The auction, which ran for nearly two weeks, featured an eclectic mix of collectible watches that captivated bidders and collectors alike. Robertino Altieri, CEO of WatchGuys.com, described the collection as containing “some holy grails, vintage pieces, and Japanese watches that sold at some surprising prices.” Notably, two unique watches from Ōtsuka Lōtec fetched prices significantly higher than their usual retail values, selling for $12,500 and $13,750 respectively.
Five standout pieces contributed to a staggering 70% of the total sales, amounting to $756,250. Here are the top-selling watches from the auction:
1. **Rolex Daytona Ref. 16519 ‘Sodalite’**: Sold for $43,750, this watch is notable for its rare blue sodalite dial and diamond indexes, making it the first Daytona model produced in white gold with a stone dial. Altieri remarked that “Rolex remains king when it comes to the secondary market.”
2. **Cartier Tank Cintrée Ref. WGTA0090 ‘NSO’**: Fetching $62,500, this one-of-a-kind Cartier was made as a special order and features an extremely rare blue dial. Altieri expressed confidence in its sale, stating, “This unique color makes it especially special.”
3. **Rolex Day-Date Ref. 18366 ‘Platinum Baguette Lapis Lazuli’**: This luxury timepiece sold for $125,000 and features a bezel adorned with 24 baguette-cut diamonds. Altieri noted its status as an off-catalog watch, linking it to Williams’ preference for rare pieces.
4. **Richard Mille RM030 PSG**: Sold for $137,500, this limited-edition watch is a collaboration with Paris Saint-Germain. Altieri found the final price surprising, given that similar models typically list for around $250,000, attributing the lower price to potential servicing needs.
5. **Patek Philippe Celestial Ref. 6104R-001**: The auction’s highest-ticket item sold for $387,500, which Altieri described as a low point given its market value ranges between $400,000 and $700,000. This exquisite piece features a diamond bezel and a starry dial, appealing to a niche market.
Pharrell’s Joopiter auction not only showcases the musician’s flair for luxury but also emphasizes the growing trend of online auctions for rare collectibles. As the demand for unique and high-value watches surges, collectors are keenly aware of the emotional significance these pieces hold, making this auction a noteworthy event in the luxury watch market.
What happens next? Watch for increased interest in future Joopiter auctions as collectors anticipate more exclusive offerings from Pharrell Williams and his curated selections. The significant sales figures from this auction are sure to set a precedent for upcoming events, capturing the attention of watch enthusiasts and investors globally.