Eric Clapton – a true collector
The 76-year-old Eric Clapton is one of the best guitarists in the world. And you can be certain that the wall in his studio holds a large collection of guitars – both acoustic and electric. No-one would be surprised by the fact that the collection includes iconic guitars such as the red Fender Telecaster he used in the early 1960s when he was part of the group The Yardbirds. Or maybe the black Stratocaster he used for recording Layla and Other Assorted Love Songs in 1975.
But something fewer people are aware of, is that Eric Clapton is a passionate collector of exceptional wristwatches. Throughout the years he has been particularly interested in watches from Patek Philippe and Rolex. There is one watch that stands out from the crowd: his platinum Patek Philippe Ref. 2499. Eric Clapton sold it already in 2012 through the auction firm Christie’s in Geneva. The winning bid ended at nothing less than 3.443.000 Swiss franc. It was a private collector in Asia who offered the record sum for the watch. With today’s rates, it is the equivalent of roughly 3.65 million dollars.
Watches from Patek Philippe are generally expensive. But 3.65 million dollars? What is it that made the Asian collector pay that much for Clapton’s watch? It is an exceptional watch. And extremely rare. That in itself makes it a very attractive watch for one’s collection. The watch was produced in 1987, and in short it can be described as a mechanical watch with 23 gemstones on a silver-colored face which is split into five-minute intervals in the outer ring, written with Arabic numbers. The watch has a perpetual calendar with the moon phases, and at the same time it is what in horological terms is called a chronograph, meaning that it also contains an analogue stopwatch. The case is made of platinum. The watch, measuring 37 mm in diameter, is rare because during the 37-year period, starting in 1951, there was only ever 349 watches produced. And one of these watches was bought by Eric Clapton back in 1987.
From a horological point of view, what makes Eric Clapton’s watch exceptional, is that it according to Christie’s is the only one in the world with a platinum case. Most other watches of the same model are produced with a case of either gold or red gold. If there are others in platinum, they are probably owned by museums and therefore not accessible for private collectors. But back to the question about what the watch is worth for collectors. Ignore that it is rare, that maybe it is unique and amazing. And discard the spectacularly fine clockwork mechanics. Is a price of 3.65 million dollars justifiable?
It is the history that sells
Yes, it is. But probably only for people who have that kind of money to spend. That said, less can do it too. It is the history that is the selling point of the watches. For collectors, watches with a history are always interesting. They are watches who were part of a special occasion or – as the Patek Philippe Ref. 2499 – belonged to a famous person like Eric Clapton. It could be an Omega Speedmaster that has been to the moon and back. Or Paul Newman’s Rolex Cosmograph Daytona, with its history and the inscription from his wife, which was sold at an auction for nothing less than 17.8 million dollars in 2017.
To one of the world’s leading watch experts, Kristian Haagen, there is nothing weird about that. “When I was about to buy my first car, I knew nothing about cars. But through the car magazine I quickly found out that if I paid a thousand dollars more, I could get a cooler car. That is how it is for us who are obsessed with the beautiful wristwatches,” he says and continues:
But it is the history surrounding the watch that is interesting. A watch in itself is not famous. Jens Olsen’s World Clock in the Copenhagen City Hall is maybe famous, but mainly because it is the only clock of its kind. When a watch is particularly popular or desired by collectors, it is because of the history that comes with it.”
According to Kristian Haagen, as a starting point the prices are high when we are talking about high-quality watches such as Patek Philippe and Rolex. “But the fact that it’s been on Eric Clapton’s arm, in an auction context that makes it especially interesting. And if you can afford it, you’ll buy it for the asking price.”
He himself has built quite the collection over the years, and from time to time he fetches it from his safe deposit box when they are to be shown – or when he needs a specific watch for a specific occasion. Throughout the years, the popular watches have reached extremely high winning bids. But you can get one for less, too. “Ever since I was a kid, I’ve been deeply fascinated by the war correspondent Jan Stage. And I was extremely happy when I was allowed to buy his Rolex GMT-Master (Ref. 1675). That – to me – is the most valuable watch I own. Simply because he’s one of the heroes from my youth,” Kristian Haagen tells us. Since then, Kristian Haagen has also placed the winning bid on Stage’s friend and colleague Jens Nauntofte’s Rolex Submariner from 1974.
Historical setbacks
“These two watches are important to me. Very important. And by that they are also the most valuable ones. Maybe not in dollars and cents. But simply because of their provenances or histories are so important.” But the history can quickly turn into a setback. “I’ve seen Patek Philippe’s Nautilus watch on a few wrists too many to be interested in it. The same goes if we suddenly see a certain watch on one of the members of the Kardashian family. Some might see it as something positive. But it is about what histories and contexts you want to be identified with. Some might feel the same way about my excitement over Jan Stage’s Rolex GMT-Master, because he was put in the same context as a terrorist act in Germany, where he allegedly drove the getaway car.”
To Kristian Haagen, a watch’s history can go both ways. But if he is selling a watch because it has appeared on a few too many wrists around the world, or because the history has taken an unfortunate turn, that will not leave his safe deposit box gaping empty. “It was hardly a lack of money that made Eric Clapton sell his Patek Philippe watch for 3.65 million dollars. It was probably rather about making space for something new in the collection.” And even though Kristian Haagen might have already collected more than 20 Rolex watches and other valuable time pieces, there is always room to dream. And even though he owns a Panerai with his own name engraved, an Omega Speedmaster from the moon landing, and on top of that King Constantine II’s Breitling watch. “For me it’s about finding watches that have been on the wrist of people I admire. It could be John Malkovich’s IWC Pilot, or perhaps a watch from the collection of the world-famous chef Anthony Bourdain.”
Kristian Haagen works as a consultant for several international watch companies, as a journalist, and as a consultant for among other Bruun Rasmussen’s auction house. He recently released his eighth book about the world of watches, Hashtags & Watches III, which can be bought at www.kristianhaagen.com.