Interview with Alexandre Bigler, Vice President and Head of Watches at Christie’s

Alexandre Bigler, Vice President and Head of Watches at Christie’s Asia Pacific, provides insight into forthcoming developments in the auction sector.

Image: Christie’s

We encountered Alexandre Bigler during his residence in Thailand. Currently, the soft-spoken guy holds the position of Vice President and Head of Watches at Christie’s Asia Pacific. In August, we contacted him for thoughts into the performance of watch auctions and to ascertain if we were overlooking any trends.

Christie’s is a privately owned auction house established in 1766. Currently, it is held by Francois-Henri Pinault’s Groupe Artemis; Pinault serves as the chairman and CEO of Kering, the luxury conglomerate that possesses Girard-Perregaux and Ulysse Nardin.

What is the employee count at Christie’s Hong Kong office? What constitutes a typical workday for the Head of Watches?

Our Hong Kong office employs approximately 200 staff members, of which six, including myself, are part of the Watches team. As the regional headquarters for Asia Pacific, we have watch professionals located in Japan and Shanghai to interact with collectors. As the Head of Watches, I maintain an extensive daily task list that includes responding to client inquiries, engaging consignors for upcoming auctions, conducting meetings with my team and our global watch divisions—either in person or virtually—for auction updates and industry insights, coordinating sales strategies and promotions with marketing teams, and preparing sale catalogues, among other responsibilities.

What is your method for procuring timepieces for the auctions? Do the watches typically arrive to you initially?

Utilizing Christie's extensive global network of auction houses and offices, we procure watches virtually anywhere and at any time. The negotiation process for substantial collections owned by a single private individual typically requires more time, since we aim to provide our customers with customized methods suited to their collections. We procure watches through trades and receive requests from people wishing to sell to us.

How do you ascertain the suitable estimate range for items without precise historical price references?

Although this scenario is infrequent, I will initially assess the timepiece's quantity, condition, brand, model/reference, provenance, certificates, and aesthetics to compare it with similar timepieces manufactured in approximately the same year to ascertain its potential valuation.

Are bidders becoming younger in auction environments similar to retail?

A surge of new collectors and young purchasers has arisen, particularly following the pandemic. In the first half of the year, 40 percent of watch clients are below the age of 40. Watches, as a premium category at Christie’s, frequently serve as an entry point for collectors into the auction realm. Collectors, whether novice or experienced, frequently discover their ideal watches at our auctions, which present a diverse selection of timepieces across all eras, styles, and price ranges (from US$1,000 to over US$9 million).

Globalization and digitalization have also facilitated the participation of young purchasers in auctions. These young purchasers are highly proficient in technology, utilizing social media platforms such as Instagram and WeChat to stay informed about the latest gathering trends. They are accustomed to purchasing online in the primary market; therefore, when participating in auctions, they frequently place robust bids on online sales without prior inspection of the actual watches.

What is the current ratio of old to modern timepieces in your auctions?

A Piguet et Meylan clock, housed in an enamelled golden music box from around 1815, was assessed between HK$400,000 and HK$1,200,000, ultimately selling for HK$1,250,000 at Christie's. Image: Christie's

Vintage and modern timepieces are fairly evenly represented at our auctions. Vintage watches excelled in our Spring Auctions in Hong Kong this May – our inaugural nighttime sale “The Legends of Time” showcased 18 extraordinarily rare vintage timepieces, achieving a 100 percent sell-through rate, totaling HK$144,435,000 (US$18,693,293 or €15,254,936).

Aside from Only Watch, what is the most significant watch auction for Christie’s in the latter quarter of this year?

We are currently finalizing consignments for the Autumn season in November; nevertheless, I can disclose that our forthcoming online sale in Hong Kong will feature a total of 222 pieces with a minimum estimate of HK$21 million.

What do you anticipate will be the forthcoming driver for transformation in watch auctions?

Patek Philippe Ref. 1193 featuring cloisonné enamel craftsmanship, approximately 1982, estimated between HK$1,000,000 and HK$2,000,000, sold for HK$1,500,000. Image: Christie's

I believe it will be the digital realm. We are increasingly enhancing our experience with films, podcasts, live images, artistic visuals, and many digital mediums that enable us to substitute for the absence of in-person watch viewings.

Do you possess timepieces in your personal collection that you purchased but refrain from wearing in order to maintain their condition and value?

I generally wear all of my watches.