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Watchtime Fall Important Watches - Fortuna Fine Jewelry & Watch Auction

WatchTime: 13 Highlights from the FORTUNA “Important Watches” Sale

in Media / Watches

BY LOGAN BAKER, WATCHTIME

Back in June, we introduced you to Fortuna Auction House, a new presence in the watch auction sphere that distinguishes itself through a straightforward pricing strategy and a hands-on, no-risk approach to buying and selling vintage timepieces. After a successful summer sale, the seven-year-old, New York-based company has returned for its sophomore watch auction with a very impressive selection.

The 66-lot sale that goes down on Thursday, September 27, features a wide range of watches from vintage Rolex Submariners to a fresh-to-market Paul Newman Daytona that has one of the cleanest dials we’ve ever seen. All in all, it’s another strong sale for Fortuna as the house continues to solidify its place in the watch auction world.

Just as in previous sales, Fortuna has published the starting bid on all of its lots, a move that offers a level of transparency rarely seen in auctions of any kind. This allows the inexperienced buyer the opportunity to feel out how much money they want to commit to the sale without being intimidated.

Without further ado, here are our 13 highlight watches from Fortuna “Important Watches – Sale 1026.”

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History of the Rolex Daytona

The Rolex Daytona is an iconic success story that began as a tool of ambition. First introduced with the “Daytona” signature in 1965, the watch proclaimed Rolex’s sponsorship of the celebrated sports car race in Daytona Beach, Florida. For the Daytona specifically, Rolex had introduced a couple of major stylistic changes from its earlier chronographs, drastically improving the utility of the watch with a race car driver’s needs in mind. First, the inverse colors of the main dial and registers provided the watch with a sportier look and clear contrast to read elapsed times in each sub-dial. Second, the tachymeter scale was removed from the dial and engraved onto the bezel, allowing for greater legibility.

The historic Daytona race was born at the turn of the 20th century, at Daytona Beach (shown above). Only in 1959, did the race relocate to the world-famous Daytona International Speedway.

Yet despite its durability, aesthetics, and reliable movement, the Daytona was not hugely in demand when produced. In fact, many sat at retailers before they were sold, and often at steep discounts. At the time, Rolex was competing with a host of other watch brands that had already been well-known for creating chronographs. Furthermore, the Daytona remained a manually-wound timepiece until 1987, during the height of the world-wide craze for quartz movements.

FORTUNA Concludes June Auction Series in a Strong Fashion

in Announcements / Watches

As an auction house with a predominant fine jewelry focus, Fortuna establishes itself in the niche world of Haute horology with the high-profile sale of a Rolex “Paul Newman” Daytona.

Following the success of Fortuna’s April auctions and the monumental sale of The Estate of Bo Legendre, Fortuna has continued to achieve strong results into the summer, despite it being a traditionally slow season for the rest of the industry. Total revenue of Fortuna’s summer auctions amounted to over $2.1 million, with over 80% of the lots sold—an impressive feat in the auction industry. Soaring hammer prices for a medley of rare estate jewelry and vintage timepieces met an animated and crowded showroom of fine jewelry and watch connoisseurs. Approximately 79.4% of the lots offered in the summer auctions exceeded pre-sale estimates, reflecting strong bidder activity from private collectors in 47 countries.

IMPORTANT WATCHES Post-Sale Highlights

June 28th IMPORTANT WATCHES was Fortuna’s first watch-only sale and a demonstration of the newfound confidence Fortuna has inspired in the watch collector community, likely resulting from the strong prices the auction house was able to achieve in April’s Important Jewels & Watches sale.

Rolex Paul Newman Daytona - Fortuna Important Watches

A Rare and Highly Desirable Rolex “Paul Newman” Daytona, Ref. 6239 (Lot 2104) sold for $212,500—soaring past its starting bid of $120,000.

The highlight of the sale was indubitably the Rolex “Paul Newman” Daytona Ref. 6239 (Lot 2104), the world-famous vintage watch that has generated an unwavering cult following. Produced circa 1968, the “Paul Newman” Daytona offered by Fortuna features the same reference model that Paul Newman, accomplished actor and race car driver amongst his many other pursuits, wore and popularized. Heavy world-wide interest surrounding the watch could certainly be felt on the day of the auction, as competitive bidding between a gentleman on the auction room floor and a phone bidder took the price far beyond the initial starting bid of $120,000—achieving a sold price of $212,500!

WatchTime: Introducing Fortuna, a New Face in the Watch Auction Scene

in Media / Watches

BY LOGAN BAKER, WATCHTIME

It’s not often that we get to write about an auction house for the first time. There are four or five well-known watch auction houses (you know who they are) that have pretty much dominated that side of the industry for as long as most people can remember. Of course, there are other, more regional auction houses but, on an international, even national level, it’s quite rare to see a new face pop up.

However, with Fortuna, a seven-year-old auction house that has made its name on the jewelry side of the collecting world, that’s not the case… the young business is poised to make a name for itself thanks to a straightforward pricing strategy and a hands-on and no-risk approach to buying and selling.

“The origin of the auction house was to protect and look out for the seller, because in our experience, the buyers, they’re the knowledgeable ones,” says John Saxon. “It’s the person that inherits their grandfather’s watch, or it’s the woman that is going through a bad divorce and needs to sell her jewelry. Those are the people that are at a lot of risk. So we really wanted to build a business that would hold their hand and protect them and guide them through the process, and that became the foundation for it.”

Fortuna does this through a customer-first approach that offers a true white glove experience for clients whether they are buying or selling. Say you place a bid and win a $15,000 watch in tomorrow’s inaugural auction. The team at Fortuna will handle each step of the process for you from payment to shipping.

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Rolex Paul Newman Daytona Ref. 6239-Fortuna Auction Important Watches

Fortuna Auction Important Watches Sale

in Media / Watches

BY A BLOG TO WATCH, Sales & Auctions

On June 28, 2018 Fortuna, the boutique fine jewelry auction house based in NYC, will hold its inaugural Important Watches sale. As an auction house that has never been strongly associated with the premiere watch collecting world, Fortuna has steadily been growing out their watch department. Featured in the upcoming sale is a strong selection of collectible timepieces from a variety of brand names, led by a Rolex “Paul Newman” Daytona, Ref. 6239. Read more about some of the most desirable lots that will be offered for sale this June.

Rolex Paul Newman Daytona-Fortuna Auction Important Watches

THE CULT FAVORITE: THE ROLEX “PAUL NEWMAN” DAYTONA REF. 6239

The famous “Paul Newman” Daytona will leave any vintage Rolex collector or watch enthusiast buzzing with excitement, given their relative scarcity. This particular model is certainly considered to be the most authentic. It was the reference number that actor and racecar driver, Paul Newman originally wore, and the one that ignited the worldwide obsession for the Rolex Daytona with the “Exotic dial.” For those enamored by Rolex’s complex journey of manufacturing and outsourcing before they became the vertically-integrated company that we know today, the Paul Newman Daytona represents a very interesting segment of Rolex history. During the 1960s, a small portion of the watch dials for Rolex’s newest watch at the time, the Daytona, was made by the company Singer. This “Exotic Dial” completely transformed the look of the watch, most notably with the use of the Art Deco fonts and indexes with squared tops in the sub-dials and the introduction of a third color—the contrasting red minute track and “Daytona” moniker.

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Fortuna Auction IMPORTANT WATCHES: Event Details

IMPORTANT WATCHES Sale

12:00 PM June 28, 2018

At the Fortuna Showroom in NYC

(608 5th Avenue & 49th Street.)

Auction Previews

June 18-22, 24-27 at the Fortuna Showroom

Weekdays: 10AM-5PM

Weekends: 12PM-5PM

View the auction catalog for June IMPORTANT WATCHES here.

Important Jewels & Watches Sale Achieves $1.5M+ with 78% Sell-Through

in Announcements / Watches

Strong Bidder Interest Persists in April Important Jewels & Watches, The 2nd Sale in Fortuna’s Spring Auction Series

Fortuna’s Spring auctions offered hundreds of rarities from private collections and estates, attracting strong bidders from over 40 countries. The Important Jewels & Watches sale took place on April 26, 2018, following the phenomenal success of The Estate of Bo Legendre sale. The widespread interest for Fortuna’s second sale in its Spring Auctions Series contributed to the overall momentum of the rapidly growing auction house. Over $1.5 million in fine jewelry and watches were sold, along with an impressive 78% sell-through rate.