Rare Clocks, a Reverso Anniversary Sale and Fine Watches at Antiquorum Geneva Auction

A Breguet silver carriage clock with 10 complications once owned by the Marquise de Béthisy is one of the top items on the block at the Antiquorum Geneva sale of “Important Modern and Vintage Timepieces,” to be held on May 15.

Breguet introduced his silver humpback carriage clocks—of which only a few were made—circa 1812. The present clock is the most complicated of the eleven Breguet humpback carriage clocks known to exist. It has a total of 10 complications: grande sonnerie striking; petite sonnerie striking; alarm; perpetual calendar; days of the week; date; months; years; moon phases; and equation of time. It is the only known example with a quadruple digital perpetual calendar. The clock was sold to the Marquise de Béthisy on May 6, 1678, Antiquorum said. Its presale estimate is $173,000 to $231,000.

Another exceptional clock at auction is the Vacheron & Constantin "30 Days, Constant Force." No. 418068, made in 1933. This Art Deco style-clock has a 30-day power reserve. It is furnished by two mainspring barrels, which Antiquorum says is very unusual in a clock of its size, or of any clock. One of the difficulties of long-duration clocks is that timekeeping is affected as the mainspring winds down. This problem is counteracted by the use of a constant force escapement, a unique instance for Vacheron & Constantin and almost certainly for the entire Art Deco period. Pres sale estimate is $81,000 to $139,000.

More than 500 vintage and modern timepieces, pocket watches, and, of course, clocks will be offered for sale at the auction, which will be held at Geneva's Mandarin Oriental. The auction will also celebrate the 80th Anniversary of the iconic Reverso watch with a selection of 30 Reversos, including original pieces from 1931, emblematic and ultra-rare versions with colored dials, limited series with complications, and watches with enamel-decorated case backs. Jaeger-LeCoultre is partnering this special "Reverso Chapter," and will provide an extract from its archives, free of charge, for each lot made prior to 1950.

The Reverso was created in 1931 for British army officers stationed in India who requested a watch that could survive a polo match. The swiveling case of the Art Deco-style watch protected the dial and offered a surface that, as of the 1930s, could be personalized by means of engraving or enamel.

The highlight of this “Reverso Chapter” is a very rare, early, and desirable Steel Reverso with red lacquered dial with a presale estimate of $5,775 to $9,200.

One of the very first models to bear the LeCoultre signature, a 1930's Staybrite watch with chocolate-colored dial is a classic Reverso watch with small seconds. Six others are featured in the sale, including a rare example made for the French market and bearing the Jaeger signature, and another watch from among the few that were destined exclusively for the American market (presale estimate, $5,778 to $9,200).

Among the modern Reverso wristwatches, the highlight is "Mucha's Four Seasons" No. 1/25, Ref. 276.1.62, a set of four enameled pieces introduced in the 1990s and made in a limited edition of 25 sets. On the back of each case is a painted enamel portrait of a woman symbolizing each of the four seasons by Miklos Merczel, the manufacture's enamel artist (presale estimate $70,000 to $92,000).

Also on the block is a Louis Audemars "Grande Complication - "La Russe II," No. 12199, that retailed by G. Aspe, Paris in 1896. This timepiece is one of the most important complicated watches of the 19th century, Antiquorum says, with double perpetual calendar for Julian and Gregorian calendars, as well as minute-repeating, two time zones, chronograph, central 60-minute register, moon phases, lunar calendar and "reference d'heure" world-time calculation chart functions (presale estimate $115,000 to $173,000).

Offered at auction for the first time, the Rolex "Oyster Perpetual Date, Explorer II," Ref. 1655, Spade of Oman, was made in 1974 and retailed by Asprey of London. It is one of the few Rolex watches to feature the "Spade of Oman" logo. These special watches, with case number engraved on the inside case back, were sold by Asprey, the official Rolex retailer in the Arab world. This model also bears the rare engraved "Asprey" name on the outside caseback (presale estimate $115,500 to $173,000).

Another Rolex on the block is the "Oyster Perpetual, Comex, 660ft./200 m, Superlative Chronometer, Officially Certified," Ref. 1665, Rail Dial. The 1980 watch is accompanied by its original guarantee, 1970s Submariner and Oyster booklets, hang tag, anchor and original fitted box, as well as a COMEX magazine and COMEX regulator (presale estimate $81,000 to $150,000).

 There are two Patek Philippe watches that should earn strong interest in the upcoming auction, according to Antiquorum.

The first is a Reference 130, with pink dial, confirmed by the extract from the archives. This "Staybrite" stainless steel wristwatch with square button chronograph, register and tachometer scale was made in 1941 and was sold on March 3, 1943. Its presale estimate is $173,000 to $231,000.

The second is a Reference 5970G, circa 2006. This 18k white gold wristwatch has a square-button chronograph, register, perpetual calendar, moon phases, 24 hour indication, and tachometer (presale estimate $115,000 to $173,000).

‘Jewelers for Japan’ Auction Raises $20,000

Ajaline.com raised more than $20,000 to benefit relief efforts in Japan through their “Jewelers for Japan” auction on Charity Buzz from April 5 to April 19. A total of 19 jewelry houses donated jewelry for the auction.

Ajaline, founded by Meeling Wong and Jim Conte, is a members-only flash-sales site devoted to luxury fine jewelry and watches.

Proceeds raised from “Jewelers for Japan” will benefit Japan Society’s Earthquake Relief Fund, supporting four specific organizations:

* Tokyo Volunteer Network for Disaster Relief – a network of approximately 3,000 volunteers focusing on food, water, blankets and other goods from a distribution center in Tome, Miyagi Prefecture;

* JEN – an international humanitarian and relief development organization providing emergency relief supplies to the fishing village of Ishinomaki, Miyagi Prefecture, among the hardest hit by the tsunami;

* ETIC – a Japanese organization consisting of young social and business entrepreneurs committed to providing emergency relief goods to the elderly, disabled, and those with special medical needs; and

* Japan NPO Center – a center, partnering with the Civil Society Initiative Fund, working to identify and support local community-based non-profit organizations and volunteer organizations involved in relief and sustainable recovery work throughout the affected regions with small grants

Jewelry brands who participated in the auction were H.Stern, Mikimoto, Kimberly McDonald, Jill Platner, Coomi, House of Waris, Buccellati, Paolo Costagli, Robert Lee Morris, Robin Rotenier, Lagos, Monica Rich Kosann, Charriol, Delatori, Gurhan, Yossi Harari, Sally Sohn, Emily & Ashley and Diamond in the Rough.

Japan Society is an American nonprofit organization supported by individuals, foundations and corporations that brings the people of Japan and the United States closer together through mutual understanding, appreciation and cooperation.

Blue Nile Launches Facebook ‘Click for Mom’ Campaign

Online diamond and jewelry retailer, Blue Nile, is giving its Facebook fans an opportunity to get mom something special for Mother's Day this year with its "Click for Mom" campaign.

Launched under a custom tab on the company's Facebook page (www.facebook.com/bluenile), fans can enter for a chance to receive $25 off a $50 purchase, or gift certificates valued at $50, $100, or even $1,000. All prizes can be redeemed instantly on www.bluenile.com. The Seattle-based company also says that everyone who enters wins something for mom.

The campaign ends at 3:00 p.m. (PDT) on Friday, May 6.

Mother’s Day Jewelry Sales Expected to Reach $3 Billion

Jewelry is expected to be the second most popular gift category this year for Mother’s Day, according to the National Retail Federation.

More than 31 percent of persons responding to the NRF’s 2011 Mother’s Day Consumer Intentions and Actions survey said they are planning to buy mom silver, gold or diamonds, a 19 increase from last year. Total spending on jewelry is expected to reach $3 billion.

Total spending for Mother’s Day is also forecasted to rise, according to the survey conducted by BIGresearch. The average person celebrating the holiday is expected to spend $140.73 on gifts, up from $126.90 last year, and a return to 2008 spending levels. Total spending is expected to reach $16.3 billion.

Men will spend an average of $168.84 on the women in their life this Mother’s Day, compared to $114.01 women will spend. Adults 25-34 years old will spend the most ($191.35), followed by 18-24 year olds ($183.38) and 35-44 year olds ($155.97).

“Americans are in a much better position to spend this year and will push the daily stresses of high gas and food costs aside for one day to celebrate the most important women in the world to them,” said Matthew Shay, NRF president and CEO.

Electronics will be the most popular gift this year, with 13.3 percent saying they will purchase a smartphone, camera or tablet device for Mother’s Day, up 48 percent from last year. In addition, those buying electronics will shell out $94.91, up 8 percent from last year.

When it comes to where people will shop, the survey found that 32 percent of gift buyers will shop at a department store, the most in the survey’s history. Others will shop at discounters (29.6 percent), specialty stores including jewelers, florists and electronics stores (31.8 percent), online (21.5 percent) or at a specialty clothing store (7.1 percent).

Of the 83.1 percent celebrating Mother’s Day this year, most will shop for their mom (59.9 percent), followed by their wife (19.6 percent), daughter (9.6 percent), grandmother (8 percent), sister (8.4 percent), friend (7.3 percent) or godmother (1.8 percent).

Restaurants and other businesses will also benefit from the billions of dollars that come in for one of the biggest holidays of the year. Nearly 55 percent of all celebrants will treat mom to a nice dinner or brunch, spending a total of $3.1 billion, according to the survey. Nearly 32 percent of Americans will buy mom clothing or accessories ($1.3 billion total), and 65 percent will buy mom flowers ($1.9 billion). Consumers will also shell out $1.6 billion on gift cards and $1.2 billion on personal services such as a trip to a day spa.

Luxury Demand Fueled Sales for PPR

Multi-brand retailer PPR SA said the performance of its Luxury Group led the way for the first quarter turning in what the company described as a “stellar performance” with revenue surging 26.2 percent to 1.13 billion Euros ($1.68 billion).

Brands in the Luxury Group include the Parisian luxury jeweler, Boucheron, which reported double-digit growth in sales for the period “spurred by a buoyant performance from high jewelry and jewelry,” PPR said. Other companies within this group include Gucci, Bottega Veneta and Yves Saint Laurent.

Overall, the Parisian global brand conglomerate—which also owns Puma, Fnac and Redcats—said first quarter sales were up 9.1 percent on a year-over-year basis to 3.71 billion euros ($5.52 billion), powered by the fast-paced growth of the company’s business in emerging countries, which represented 21 percent of its total revenues.

PPR, formerly Pinault-Printemps-Redoute, said it had revenue growth in all geographic areas with the exception of Japan, where the March 11 earthquake brought an end to the upward trend observed since the beginning of the year.

Sales for its Luxury and Sport & Lifestyle businesses climbed 20.6 percent, the company said.

“Strong sales growth was driven by an excellent showing from our Luxury and Sport & Lifestyle businesses, which altogether delivered double-digit growth in all geographic areas apart from Japan,” said François-Henri Pinault, PPR chairman and CEO. “In Japan, the professionalism and courage of our teams have seen the Group’s brands through testing times. These performances testify to our vigorous organic growth dynamic. I am therefore confident that in 2011 PPR will be able to maintain its revenue growth momentum and surpass its 2010 financial performance, building on the strength of its business model and the pertinence of its strategy.”

Chai Schnyder, Patrik Hoffmann Take Control of Ulysse Nardin

Chai Schnyder has been named president of the board of directors and Patrik P. Hoffmann was appointed CEO of the luxury watch brand Ulysse Nardin. They replace Rolf W. Schnyder, who died unexpectedly on April 14. He held both positions.

Chai Schnyder is the widow of Rolf Schnyder (both pictured left). She holds a Master of Science in Manufacturing Engineering from Queen's University Belfast, U.K.

 Hoffmann (pictured with television host Jay Leno), spent the main part of his professional career in the watch sector, and has been a leading member of the staff at Ulysse Nardin. He joined the company in 1999. As director of the U.S. corporate offices in Boca Raton, Fla., Hoffmann played a significant role in the success of Ulysse Nardin in North and Central America.

The actions were taken during a special meeting of the shareholders, board of directors and management of the watch brand, based in Le Locle, Switzerland.

“Thanks to the innovative energy of the company, and in harmony with the intentions of the visionary Rolf W. Schnyder and his tireless pioneering spirit, we stand by the strategy of independence,” Hoffmann said in a statement.

Schnyder acquired the family firm of Ulysse Nardin in 1983 and since that time held the role of president and CEO. Under his leadership, Ulysse Nardin became a prominent brand in the mechanical watchmaking sector, with innovations such as the first astronomical wrist watches.

WGC Report: Q1 Gold Prices Reach New Heights

Photo by Anthony DeMarco of the Jewelry News Network

The World Gold Council recently released a report that was behind the times the moment it was publicized. But it does reaffirm the notion that investment demand in gold is pushing the price to levels that were unheard of just months ago.

Against a backdrop of uncertain global markets and a rising price, gold remained one of the least volatile commodities in the wider commodities mix, with average annualized volatility of only 13 percent, down from its historical 20 year average of 15.8 percent, the WGC said Wednesday in its first quarter 2011 Gold Investment Digest. Top-line findings show that positive investor sentiment towards gold and greater confidence in the timing of jewelry purchases in China and India prompted gold to reach new all-time highs in early April—and ultimately leading it to breach the $1,500 per ton mark.

While the report didn’t discuss the ramifications of the higher prices to the U.S. jewelry industry, the price of gold is now reaching a level that will force jewelry manufacturers and designers into making some difficult decisions.

“Gold's performance in Q1 2011 was characterized by continued concerns over the global economy, which led investors to become increasingly aware of gold's qualities as a preserver of wealth,” said Juan Carlos Artigas, WGC Investment Research Manager. “Our intelligence indicates that purchasing confidence in key jewelry markets, notably India and China, increased during the period, as price volatility declined and the dollar weakened against local currencies, resulting in a more measured price increase.”

A key trend noted in the Gold Investment Digest is the growing concern over global inflation, with comments by the U.S. Federal Reserve signaling an extended period of low rates serving to increase inflation expectations in the US. While inflation in countries such as India and China appears to have subsided to a degree, it still remains high. Moreover the threat of food price inflation is a growing concern for consumers around the world. In this environment, gold provides an alternative to hedge this exposure in a way that is not easily replicated by other assets.