I thought some of you might find this article interesting.
Omega decides it's time to call on Bond
Wednesday April 11, 2007
Daniel Craig's killer abs stole the show in the latest James Bond movie, Casino Royale.
Now, Swiss watchmaker Omega hopes the wristwatch worn by the ripped actor will help elevate the brand's status.
Craig's beat-up Planet Ocean watch, worn during many of his stunts, is among more than 300 Omega pieces to be offered by Antiquorum Auctioneers in Geneva this week. It has a high estimate of US$6500.
Omega, owned by Swatch Group AG, the world's largest watchmaker, is also selling a Seamaster Professional worn by Pierce Brosnan in 1997's Tomorrow Never Dies, with a top estimate of US$10,000. A ring-watch of first Bond girl Ursula Andress, with 28 square-cut diamonds, may fetch as much as US$30,000.
The sale may help Swatch elevate Omega's brand, which trails luxury names such as Rolex and Patek Philippe. Dealers said the Omegamania auction may beat the US$3 million high valuation, as estimates for many lots were modest.
"Omega as a brand has always been underrated," said Edward Faber, founder and principal of Aaron Faber Gallery, which specialises in collector watches. "They made a heck of a lot more Omegas than they did Patek Philippes."
Collectors bought about US$85 million worth of old watches at auctions last year, according to Christie's International, the world's biggest watch auctioneer.
Omega has been making watches since 1848; the sale's oldest item - an 1883 Louis Brandt & Freres model - could fetch as much as US$37,000. The top lot is an 18-carat yellow gold Tourbillon wrist chronometer, made in 1947, with a presale high estimate of US$150,000.
"Hopefully, this auction will make the market aware that there are very good collectible Omega watches out there," said Matthew Bain, co-owner of Senzatempo, a vintage-watch store in Miami Beach.
Some pieces up for sale were extremely rare, he said, including one with an enamel dial depicting an observatory and stars.
There is also a selection of professional watches, tested in space, deep water and freezing temperature.
In 1969, astronauts Neil Armstrong and Buzz Aldrin wore Omega Speedmaster Professional watches on Apollo 11 for the first lunar landing. That year, the company made 28 numbered watches commemorating the event as gifts for all the astronauts.
One of them, engraved with the name of Thomas K. Mattingly II, was never presented to the veteran of three space missions. It's up for sale with a high estimate of US$32,000. "That's a great piece of history," Bain said. "That's going to go for huge money."
The "Mir Watch" spent a year on board the Russian orbit station in 1993-94 while Omega was researching the long-term effects of zero gravity. It has a high estimate of US$40,000.
Omega is offering buyers a two-year factory guarantee for each of the 300 lots, including the vintage pieces.
But can a single sale create a market? "It will create a platform on which to build," Faber said. "Once at auction is an accident. Twice is a coincidence. Three times is a market."
- BLOOMBERG
Omega decides it's time to call on Bond
Wednesday April 11, 2007
Daniel Craig's killer abs stole the show in the latest James Bond movie, Casino Royale.
Now, Swiss watchmaker Omega hopes the wristwatch worn by the ripped actor will help elevate the brand's status.
Craig's beat-up Planet Ocean watch, worn during many of his stunts, is among more than 300 Omega pieces to be offered by Antiquorum Auctioneers in Geneva this week. It has a high estimate of US$6500.
Omega, owned by Swatch Group AG, the world's largest watchmaker, is also selling a Seamaster Professional worn by Pierce Brosnan in 1997's Tomorrow Never Dies, with a top estimate of US$10,000. A ring-watch of first Bond girl Ursula Andress, with 28 square-cut diamonds, may fetch as much as US$30,000.
The sale may help Swatch elevate Omega's brand, which trails luxury names such as Rolex and Patek Philippe. Dealers said the Omegamania auction may beat the US$3 million high valuation, as estimates for many lots were modest.
"Omega as a brand has always been underrated," said Edward Faber, founder and principal of Aaron Faber Gallery, which specialises in collector watches. "They made a heck of a lot more Omegas than they did Patek Philippes."
Collectors bought about US$85 million worth of old watches at auctions last year, according to Christie's International, the world's biggest watch auctioneer.
Omega has been making watches since 1848; the sale's oldest item - an 1883 Louis Brandt & Freres model - could fetch as much as US$37,000. The top lot is an 18-carat yellow gold Tourbillon wrist chronometer, made in 1947, with a presale high estimate of US$150,000.
"Hopefully, this auction will make the market aware that there are very good collectible Omega watches out there," said Matthew Bain, co-owner of Senzatempo, a vintage-watch store in Miami Beach.
Some pieces up for sale were extremely rare, he said, including one with an enamel dial depicting an observatory and stars.
There is also a selection of professional watches, tested in space, deep water and freezing temperature.
In 1969, astronauts Neil Armstrong and Buzz Aldrin wore Omega Speedmaster Professional watches on Apollo 11 for the first lunar landing. That year, the company made 28 numbered watches commemorating the event as gifts for all the astronauts.
One of them, engraved with the name of Thomas K. Mattingly II, was never presented to the veteran of three space missions. It's up for sale with a high estimate of US$32,000. "That's a great piece of history," Bain said. "That's going to go for huge money."
The "Mir Watch" spent a year on board the Russian orbit station in 1993-94 while Omega was researching the long-term effects of zero gravity. It has a high estimate of US$40,000.
Omega is offering buyers a two-year factory guarantee for each of the 300 lots, including the vintage pieces.
But can a single sale create a market? "It will create a platform on which to build," Faber said. "Once at auction is an accident. Twice is a coincidence. Three times is a market."
- BLOOMBERG