What Drives the Value of Art?

At the London School of Business’ Art Investment Conference, Borro had the opportunity to discover the top factors that drive the value of art. Dr. Ian Robertson gave an amazing presentation on this and we’re excited to share with you what we’ve learned.

1) The yields in stocks and shares
On average, as stocks and shares increase, so does the value of art over time. We can see this in the below graph whereas ‘All Art’ value increased, so did the value in shares of the Financial Times.

Value of Art

Image Source: Ian Robertson Presentation

 2) Comparative Investments

If the price growth of other assets is higher than art, then this will drive the value of art down as some investors will prefer to place their finances in other sectors. Other asset classes will have some form of impact over the art asset class. For example, property and art can go hand in hand as we need great properties to display great art! On the flip side, if the price growth of art is booming, then the value of art will go up as more people invest.

Value of Art

Image Source: Financial Times

3) Economic and Political Volatility

What is happening in the world of politics affects the perceptions of potential investors and thus drives the value of art down. For example, ever since the wave of protests and civil wars that arose in the Middle East in 2010, the value of Arabic Modern Art rapidly declined as the market was sensitive to politics.

Value of Art

Image Source: ArtTactic

Also, varying interest rates and inflation have effects on the value of art as high inflation/interest means less people can afford to invest. Furthermore, changes in exchange rates may mean overseas buyers can obtain art at a lower rate. For example, when Brexit was announced the pound dropped against the Chinese Yuan so significantly that Chinese art investors flocked to London to buy their art at a much lower price.

4) Taste

Taste and fashion are things that are always varying. What’s exciting in the art world one year, may be sharply replaced the next. The most classic case of this would be Van Gogh. When he created his art it was almost worthless, and now his paintings are amongst some of the most valuable in the world, such as this portrait of Dr. Gachet, worth £106 million.

Value of Art

Image Source: colorpaintingart.com

5) Rarity and Beauty

It’s quite obvious that beauty would affect the value of art as you wouldn’t pay more for something that you find unattractive. But it is important to remember that beauty is very subjective, which is why rarity always trumps beauty. If you chipped an extremely rare vase, its value would only be slightly affected, but if you chipped a beautiful vase that wasn’t rare, it’s value would be more significantly affected as its looks have been damaged.

6) The Art Market Mechanism

There are several factors about the art itself that affects its value, often determined by museums, scholars and experts. These include authentication, condition, historical importance, past prices, size, material, colour, subject-matter and provenance. All these factors would be considered by a collector when choosing to invest in art, for example, an authentic piece that is in great condition and made of lasting materials that has strong historical importance is clearly going to have more value than a piece that doesn’t.

We hope this article helps you with what value-factors to consider when investing in art. The art investment world is both complex and exciting, remember to enjoy it!

Related Blogs:
How to Develop an Art Portfolio in Three Steps
The Art Business Today: Key Market Concerns

Most Expensive Audemars Piguet Watches Sold at Auction

Founded in 1875, Audemars Piguet, is regarded as one of the world’s most luxurious watch brands. Many spectacular pieces have made it to auction over the years, and Borro is now taking a look at the top five most expensive Audemars Piguet watches to be sold at auction. Christie’s dominates the list but Phillips makes an appearance with a particularly unique timepiece.

5) Signed Audemars Piguet & Co Geneve – £273,498

Most Expensive Audemars Piguet

Image source: Christie’s

Kicking off the list is an extremely rare timepiece. It is a 14k pink gold full calendar chronograph, manufactured in 1942. It has a stainless steel case with teardrop lugs and was sold in amazing condition, meaning it had rarely been worn – good news for the current market. In 2015 it was sold by Christie’s at the ‘Important Watches’ auction in Geneva for £273,498.

4) Signed Audemars Piguet Geneve – £296,619

Most Expensive Audemars Piguet

Image source: Christie’s

A small step up from the previous watch is this 18k gold Audemars Piguet Geneve chronograph wristwatch, manufactured in 1950. It has 21 jewels and a silvered dial and is considered a “leader” in this watch category. Experts believe that this is the only one of this specific watch ever made. In 2010 it was sold at auction in Geneva by Christie’s at the ‘Important Watches’ auction for £296,619.

3) Signed Audemars Piguet Geneve – £296,934

Most Expensive Audemars Piguet

Image source: Christie’s

This Signed Audemars Piguet Geneve is both platinum and diamond set, manufactured in 1960. A platinum vintage minute repeating watch from Audemars Piguet with bracelet is one of the rarest combinations in the vintage watchmaking field. This may be why it sold for £296,934 in 2016 at the ‘Rare Watches Including Nautilus 40 Part II’ auction in Geneva.

2) 1929 Audemars Piguet Tortue – £396,905

Most Expensive Audemars Piguet

Image Source: Phillips

This is an extremely rare watch. It has a platinum bracelet and was retailed by Cartier, for that added luxury. This particular watch was originally purchased by Henry Haven Windsor Jr, son of the founder of the Popular Mechanics magazine. To make it even more impressive, it is a minute repeating watch that has Breguet numerals on the dial. It captures the true style of the 1920s. It sold at auction by Phillips in Geneva for £396,905 in 2015.

1) Signed Audemars Piguet Geneve Leap Year Perp – £421,696

Most Expensive Audemars Piguet

Image Source: Christie’s

Making the top of our list of most expensive Audemars Piguet watches is this rare 19k gold perpetual calendar wristwatch with leap year, moon phases and two-tone dial. It was manufactured in 1957 and has 18 jewels and a two-tone silvered dial. It 2015 it was sold at the ‘Rare Watches and Important Discoveries’ auction in New York for £421,696.

Related Blogs:
Authenticating An Audemars Piguet Royal Oak
How to Prepare a Luxury Watch for Auction
The Tantalising Appeal of Pre-Owned Watches

Celebrating Asian Pacific American Artists

Asian Pacific American Artists

Art encompasses a global perspective. With various artists from across the world who contribute to the arts, it is important to recognize the achievements of others. May is Asian Pacific American Heritage Month, which recognizes and honours the achievements of Asian American and Pacific Islanders throughout the US. In an effort to celebrate the contributions of Asian Americans and Pacific Islanders, we are highlighting several Asian Pacific American artists who have had an impact in the art world and beyond.

Ruth Asawa (1926 – 2013)

Asian Pacific American Artists - Ruth Asawa

Source: RuthAsawa.com

Born in Norwalk, CA in 1923, Ruth Asawa was a Japanese-American artist who made her mark in the art world as a sculptor. In 1942, Asawa’s family as well as 80,000 Americans fell victim to the Japanese Internment camps which were symptomatic of the hysteria during WWII. Asawa’s father was arrested by the FBI and sent to a camp in New Mexico, and was not seen by their family for the next six years.

Asawa along with her mother and five siblings, were forced to live at the Santa Anita racetrack. Asawa graduated from high school while living at the camp, and went onto pursue a teaching degree at the Milwaukee State Teachers College. While studying in Milwaukee, Asawa traveled to Mexico. Here, she took part in an art class at the Universidad de Mexico and learned of the Black Mountain College.

She went onto to study at Black Mountain College under the tutelage of Josef Albers from 1946-49. While there, she began to experiment with different materials and techniques, engaging in an interdisciplinary approach to the art making process. Black Mountain is also where Asawa began to use wire in her sculptures.

The 1950s were also marked with more exploration for Asawa and her work. During this era, she began using crotchet and wire as way to make sculptures and also as a way to create 3D drawings. She picked this technique up while visiting Toluca, Mexico where she had witnessed locals utilizing this to make baskets. Asawa’s wire sculptures brought her notoriety landing her in exhibitions at the Whitney Museum of Art and Sao Paulo Art Biennial.

Asian Pacific American Artists - Ruth Asawa Andrea

Ruth Asawa. Andrea. Source: National Museum of Women in the Arts

Over time Asawa’s work evolved and during the 1960s she began to experiment with tied wire sculpture and creating representational work. In 1968, she created a fountain of mermaids called “Andrea” along San Francisco’s waterfront. To create this piece, Asawa worked with 200 local school children and who create molds of the city in dough, that were later cast in iron. She went onto create other public works and over time, Asawa earned the title of the “fountain lady.”

Asawa became a fierce advocate for arts education and over the years did countless lobbying on behalf of this cause. She co-founded the Alvarado Arts Workshop which is now the San Francisco Arts Education Project. In 1982, a public arts high school was built, in part to Asawa’s efforts. In 2010, the school was renamed the Ruth Asawa San Francisco School of the Arts. She also served as a trustee of the Fine Arts Museums of San Francisco as well as on the California Arts Council and the National Endowment for the Arts. Asawa died in 2013.

Nam June Paik (1932 – 2006)

Asian Pacific American Artists - Num June Paik

Source: Paik Studios

To many Nam June Paik, has been characterized as the father of video art. Paik’s work has had a profound effect on the art world. He worked in a variety of mediums and notably with the Fluxus and Neo-Dada art movements. Born in 1932 in Seoul, Paik’s family eventually fled due to the Korean War in 1950. As a child, Paik was trained as a classical pianist which in many ways effected his career in more ways than meets the eye. In 1956, he graduated from the University of Tokyo where he completed a thesis on the composer Arnold Schoenberg.

Upon finishing his undergraduate education, Paik found his way to Europe where he began to study music history at Munich University. Over the course of his studies, he met composer and conceptual artist John Cage as well as George Maciunas, Joseph Beuys and Wolf Vostell. Exposure to these artists greatly impacted Paik’s approach to his own work as well as adding a layer of conceptual complexity to it.

His interdisciplinary approach to video, film, media, teaching, creating and even performance art has resulted in an impressive body of work. Paik’s work has left a lasting impression on video art, TV and beyond. Paik really came into his own during the 1950s, 60s and 70s during the global rise of the anti-war movement which was reflected in the political and artistic realities of this era. Using advances being made in television and film at the time, Paik sought to investigate the moving image as a genre of art all its own. Paik made his professional art debut in 1963 as part of the Exposition of Music-Electronic Television.

The following year, Paik moved to New York City. Paik began to work with classically trained musician Charlotte Moorman. While working with Moorman, Paik’s work got pushed even further throughout the 20th century, the moving image and the advances being made surrounding this mode of art making became a very charged area to explore. Paik made many notable moves in this area, and would eventually be seen as the founder of the video art movement.

Asian Pacific American Artists - Num June Paik Cello

Charlotte Moorman performs wearing artist Nam June Paik’s “TV Cello” and “TV Glasses,” New York, 1971. Source: Medill Reports Chicago.

During the 1970s Paik’s work started to become more experimental. In 1971, he created a cello he made out of three TVs stacked on top of one another with strings. Paik even had a Moorman play his instrument. He also envisioned a community in which global viewers would use and engage with videos freely. Paik referred to this as the “Video Common Market.” In 1982, John HanHardt organized a retrospective of this work at the Whitney Museum. Over the course of his career, Paik exhibited at many intuitions and his work has become part of major collections worldwide. He died in 2006 due to a stroke.

Anida Yoeu Ali (1974 -)

Asian Pacific American Artists - Anida Yoeu Ali

Source: Studio Revolt

Another notable Asian Pacific American artist is Cambodian-American Anida Yoeu Ali. Ali’s work while is interdisciplinary in nature, is often site-specific. Working across performance, video, installation and sculpture, Ali’s work is truly multidisciplinary. Born in 1974 in Battambang, Cambodia, her family eventually left due to the war. They remained in a refugee camp in Thailand until 1979 until moving to Malaysia and eventually settling in the US.

Ali’s family settled in Chicago where she stayed until 2011. In 1996, she earned a BFA from the University of Illinois. She went onto receive an MFA from the prestigious School of the Art Institute of Chicago.

Asian Pacific American Artists - The Buddhist Bug

Anida Yoeu Ali, Offerings, The Buddhist Bug Series, Digital C print (2014). Source: Anidaali.com

Within Ali’s work, Buddhism is often a theme that is explored. In The Buddhist Bug series Ali used photographs, video and performance to explore the religion. In this work, the artist dresses in a caterpillar like costume that is purposefully hard to gender and label, resulting in a kind of hybrid. This notion of cultural hybridity/diaspora is also explored in other aspects of Ali’s work particularly stemming from her upbringing and travels.

Ali has been the recipient of several prestigious awards including the Sovereign Asian Prize, as winning a Fulbright in 2011, being the recipient pf an NEA grant as well as the Rockefeller Foundation. Ali was previously ab Artist-in-Residence at the University of Washington Bothell and has taught at other higher educational institutions. She is also a founding member of Studio Revolt, “an independent artist run media lab in Phnom Penh.”

Through these Asian Pacific American artists’ creative spirit, perseverance and forward thinking they helped level the playing field within the art world and beyond. Ali, Paik and Awasa contributed much to their communities and have left a lasting impression on public art, art education, video and the way that performance work is approached. By honouring their achievements, we are helping to keep their artwork and legacy alive.

About the Author
Anni Irish has been a contributing writer to several online publications including Boston based publication, The Dig, New York Arts Magazine, and ArteFuse among others. She holds a BFA from the School of the Museum of Fine Arts/Tufts University, an MA in Gender and Cultural Studies from Simmons College, and an MA in Performance Studies from New York University.

Related Posts

Top 5 Selling American Female Artists
Top Selling African American Visual Artists
The Art Business Today: Key Sectors for 2017

How to Develop an Art Portfolio in Three Steps

Borro attended the Art Investment Conference run by the London Business School and was particularly impressed by the talk led by Professor Elroy Dimson. He enlightened us on the importance of art portfolios in the case of John Maynard Keynes. We discovered three main factors to consider when developing an art portfolio.

Art Portfolio

Image Source: Author

John Maynard Keynes was a very influential British economist, who died in 1946. Whilst most books about Keynes focus on his economic contributions, we’re more interested in him as an art collector.

Art Portfolio

Image Source: alchetron.com

Perhaps it was his economical mind-set that drove Keynes to view art as an investment, and change the way we see art now. He looked after his pieces in a way that they were considered financial assets – which they are. He ended up building a portfolio that outperformed the British equity index by an average of 8% year over year for a century.

Art Portfolio

One of Keynes’ most valuable pieces: Paul Cezannes ‘Apples’.
Image Source: Fitzmuseum.com

He much preferred buying from auctions rather than artists as this was far more economical. He collected 73 pieces in total, none of which ever left his collection. 25% of the value of this collection is held just buy one piece: Paul Cezanne’s ‘Apples’ painting.

Art Portfolio

Image Source: Author

The value of Keynes’ collection has significantly increased over time. This is in terms of the estimated value of the collection, the real value of expenditures and the value if invested in equities.

Art Portfolio

Image Source: Author

So, what can we learn from Keynes?

  1. Art is an investment. It is an asset that can hold significant value and the ability to raise finance so we should consider that when making purchasing decisions to enhance our art portfolio.
  2. Art purchases should be made from auctions. There’s nothing wrong with buying art from other sources, especially when the dealer is someone you trust, but auctions were Keynes approach and was a very successful one at that. A lot of alternative lenders, such as Borro, will provide loans to those who are looking to raise finance against their assets only if they have an auction history.
  3. Pieces in your art portfolio should vary in value. Keynes knew where to incorporate more valuable pieces in his collection and when. When purchasing extremely high value art, consider why it is that price, will it go up? What is the quality of the piece? What measures do I have to take to ensure that the quality is maintained?

Keynes was overall an outstanding character, and his art collection reflected that. He knew to see art as a financial asset and was able to build a valuable collection. But don’t get too caught up in this, just because he was economical doesn’t mean that this is his only connection to art. He loved it and admired it, seeking pleasure from viewing and building his collection. Art is something to enjoy, the finance is just a very pleasing bonus…

Related Blogs:
The Art Business Today: Key Market Concerns
What Drives the Value of Art?

The London Motor Show 2017: A Borro Review

London Motor Show

The London Motor Show began in 1903 as the British International Motor Show. It ran until 2008, taking place first at Crystal Palace, Olympia and finally at ExCeL. The show relaunched at Battersea Park in 2016.

Borro decided to attend “the motoring event of the year” and see the latest wonders of the automobile world. Here are the cars we believe are worthy of a show of their own.

The Lamborghini Aventador S

London Motor Show

Upon entering the ‘Luxury Cars’ section of the show, we were greeted with this striking pure white Lamborghini that immediately drew crowds to it. But it’s not just the muscular build of the car that makes this car appealing. It is able to achieve 217mph as it holds a 6.5L V12 engine that achieves 750bhp – an upgrade from its previous model.

London Motor Show

This car can reach 0-62mph in 2.9 seconds. It is extremely lightweight due to its carbonfibre body. It would cost a lucky buyer £270,000 to get their hands on this sweet supercar.

Jaguar 5.3 E-Type

London Motor Show

We were so glad to see a classic in amongst the newbies, and what better way to stand out than in fiery red. Its physique is both sleek and curvy, with a timeless feel about it. It’s a 2 door convertible with its engine located at the front. Jaguars like this sell for around £60,000.

London Motor Show

The engine is just as magnificent as the body that holds it. It’s a 5.3 litre engine which is able to achieve 250bhp and a top speed of 217 mph. its takes it just 7.4 seconds to reach 60mph, a lot longer than the Lamborghini Aventador S, but it’s a classic car and I’m sure we can spare those few seconds.

BAC Mono

London Motor Show

This is the BAC Mono and is the first attempt by Briggs Automotive Company to produce a single-seated car for the public road. Only 50 of these will be made per year and there’s already a massive queue of prospective buyers.

London Motor Show

If we were to compare the BAC Mono to the Lamborghini Aventador S, it’d have nothing on its engine. It has a small 2.5 litre Monotune engine, powering 305bhp. It can reach 170mph and 0-62mph in 2.8 seconds. But remember, its purpose is as a road car, not a supercar. So in that case, it’s probably one of the most extreme road cars around. Not to mention more expensive, costing the buyer around £125,000.

So there are our top 3 picks from the London Motor Show. Of course there was plenty more to see, but you’ll have to head down there yourself next year if you want to capture all of these stunning cars.

Images supplied by the author. 

Related Blogs:
Car of the Month – 2017 Ford GT
The Top 5 Most Expensive Lamborghinis
What Will Happen with Car Auctions in 2017?

Frieze Art Fair New York 2017 Highlights

Frieze Art Fair New York

Source: Frieze/Flickr

Making the Trek to Randall’s Island

This past weekend, thousands of people descended onto Randall’s Island Park located in Manhattan’s East River to attend the sixth edition of the Frieze Art Fair New York. This year’s fair featured over two hundred galleries from thirty-one countries with works being presented by pioneers within the contemporary art world as well as emerging and mid-career artists. Frieze, which is one of the largest producers of art fairs in the world, has also staged events in London and New York previously.

Getting to the fair was quite an adventure too, and depending on the route you took included either a ferry or bus ride, or walk over the bridge to the island. However, once you arrived, there was a festive atmosphere with lots of art to see. It also included a who’s who of the art world, and a bevy of people watching over the course of the three-day event.

Skewing Political

Frieze Art Fair New York which opened to the public from May 5-7, had a more political underpinning then previous versions. There were various talks held throughout the three days including: “Artist Laura Owens in conversation with MoMA Chief Curator Ann Temki”, as well as a reading and discussion with poet Claudia Rankine among others.

Wide Array of Mediums and Countries

This was also the first year the fair included works from the 20th century as well as a large number of works from South American countries. This impressive display of work included galleries showing for the first time from Brazil, Guatemala, Japan and Poland. This fair in particular is one of the latest instalments of NYC’s art fair craze, which takes place in the early spring. Viewers come from all over the world to see the works on display as well as experience the larger sociocultural aspects the city has to offer.

The works at this year’s fair were wide ranging in mediums, from painting, photography, printmaking, performance and video works that touched on a variety of subject matter. Although the fair did feature some works that were politically heavy in parts, it is a departure from some of the more charged shows that have recently been on display, such as the Whitney Biennale. However the Frieze fair is meant to be an atmosphere in which pieces are being bought and sold as well as being looked at.

Frieze Art Fair New York

Source: ArtNews

The Celebrity Factor

The fair was sprawling, well planned and had an impressive amount of work on view. Highlights from the fair included a Leonard DiCaprio inspired performance in which the artist Dora Budor hired three actors who look like DiCaprio, to impersonate him throughout the fair. The piece entitled MANICOMIO!, featured each of the actors dressed as different characters DiCaprio played throughout his career including some of his most famous roles, Jordan Belfort from The Wolf of Wall Street, Hugh Glass in The Revenant and Frank Abagnale, Jr in Catch Me If You Can.

The piece added a comical and uncomfortable element to an otherwise unique experience.  The performance itself seemed to be offering a larger critique of the line between celebrity culture and the art world, which was something cultivated by Warhol in the 1960s. While DiCaprio has been spotted at other art fairs, he was not seen at this year’s New York fair.

The performance was commissioned through the “Frieze Projects” which consists of six interactive pieces that the fair puts on. This year’s theme for the commissioned pieces was set around voyeurism and also included works by Elaine Cameron-Weir, and Jon Rafman, Giosetta Fioroni and Fabio Mauri and Ryan McNamara and Adam Pendleton.

Frieze Art Fair New York

Source: Twitter

One celebrity that did make an appearance this year was Martha Stewart. Stewart’s appearance which has now gone viral, features her between two large scale portraits of Donald Trump and Snoop Dog by the artist Andres Serrano. In the picture of Stewart she can be seen giving the finger to Trump’s image and is flashing a sideways peace sign in Snoop’s direction.

Frieze Art Fair New York

Source: Frieze

Standout Standalones

A wall installation by Jeppe Hein. Entitled “Please Participate” from 303 Gallery stated “please participate, be grateful. Enjoy, focus, meditate, feel, open up, interact, smell, try, breath, forgive, wish, be aware…” The various words were scrawled across the wall in neon white and yellow lettering and served as a kind of instruction set for viewers.

Another stand-alone piece from the fair was Jon Rafman’s video installation 350 Dream Journal. The installation featured an hour-long video that included a soundtrack by Oneothrix and James Ferraro. The installation which has video game animation qualities, featured a traveling through different scenes and sometimes faced grotesque imagery.

Frieze Art Fair New York

Source: acb Gallery

The work of Serbian artist, Katalin Ladik, which was feminist in nature and touched on a variety of topics was on display through acb Gallery, Budapest. The black and white photographs were mesmerizing, and featured Ladik preforming a variety of gestures.

While Frieze Art Fair New York had an overwhelming amount of works on view, it was exhilarating to see the range of things various artists on a global scale are responding to. Although the fair serves as a marketplace, it is also a venue in which cultural and artistic ideas were being contemplated and discussed.

Related Blogs:
TEFAF Makes Its New York Debut
David Hockney Tops the Tate
Highlights from the London Art Fair 2017

Top 5 Most Expensive Patek Philippe Watches Sold

Founded in 1851, Patek Philippe is one of the world’s most luxurious Swiss watch manufactures. Their watches have been worn by the likes of Queen Victoria and Albert Einstein and are just as relevant in today’s watch industry as they were two centuries ago. Borro has compiled a list of the top 5 most expensive Patek Philippe watches sold at auction.

5) Reference 5004T Titanium — £3 million

Most Expensive Patek Philippe

Image Source: Business Insider

When Patek Philippe decided to stop producing their reference 5004, they marked its end with a final version – the 5004T. It was a unique watch for the brand, using a titanium case which is a material not often used by Patek Philippe. Adding to its uniqueness is the solid gold dial with a pattern engraved by hand. In 2013, it was sold at auction by Only Watch for £3 million.

4) Reference 2458 Observatory Chronometer for J.B. Champion — £3 million

Most Expensive Patek Philippe

Image Source: Business Insider

This is another distinct watch by Patek Philippe. The reference 2458 is a timepiece with Observatory provenance, responsible for finely developed movements. It is also the only 2458 that is in platinum. In 2012, it was sold at the ‘Important Watches, including A Gentleman’s Pursuit for Excellence, Part I’ auction by Christie’s for £3 million.

3) Caliber 89 Grand Complication Pocket Watch — £3.8 million

Most Expensive Patek Philippe

Image Source: Business Insider

Here we have what is considered to be one of the most complicated watches that Patek Philippe has ever made. It was launched to celebrate the watch brand’s 150th anniversary in 1989 and took nine years to create. In 2014, it sold for £3.8 million at auction by Sotheby’s

2) Reference 1527 Perpetual Calendar in 18k Rose gold — £4.4 million

Most Expensive Patek Philippe

Image Source: Business Insider

This incredible watch was created in 1943 and is still just as elegant today. Its history, including surviving the Second World War, creates a sense of timelessness about this piece. It is a perpetual calendar in a reference 1527 case and one of two of these model numbers. In 2010, it was sold at auction by Christies for £4.4 million.

1) The Henry Graves Jr. Supercomplication — £18.5 million

Most Expensive Patek Philippe

Image Source: Business Insider

This watch is one of the most important watches ever made by Patek Philippe. It is 18 karat gold, has 2 dials, 24 complications and is one of the most complex watches ever made. It took five years to make before it was in the hands of its customer in 1933, Henry Graves Jr, a millionaire banker from New York. In 2014, Sotheby’s put the watch to auction and raised an astounding £18.5 million to make it the most expensive Patek Philippe ever sold.

Related blogs:
Patek Philippe – Highlights of Watch-Making Excellence
Patek Philippe’s Grand Exhibition and the Grandmaster Chime
Why Some Watches are Worth Millions

Car of the Month – 2017 Ford GT

Ford GT History
Ford is an American car company, founded in 1903 by Henry Ford. When it comes to sports cars, the GT represents Ford. The GT40 is the only American car to win the 24 Hours of Le Mans race and even won four times in the 1960s. Borro takes a look at where the Ford GT is today.

2017 Ford GT

Image Source: Autoexpress

Before you get your hopes up, this car is already sold out for 2017. Let’s find out why…

2017 Ford GT Specifications

In some aspects, this car follows the traditional Ford GT structure – with a mid-engine and two seats. However, when it comes to the engine itself, Ford went for something a little more modern. The car company went for a 3.5 Litre twin-turbo V6 Ecoboost engine, allowing the car to achieve 638hp. To reap the maximum benefits of this powerful engine, it is covered by a 1400kg lightweight body made from carbon fibre and aluminium. This all allows the car to reach a top speed of 216mph.

2017 Ford GT

Image Source: Autoexpress

So who are its rivals? The Audi R8, Honda NSX, McLaren 720s and the Ferrari 488 GTB are among a few. The reason for this is the pushrod suspension, aerodynamics and track-honed settings.

2017 Ford GT Design

When it comes to the design, it’s all about powerful lines and curves. This is what differentiates it from the last Ford GT, as the retro aspects of the car have been dropped and newer, more modern details have been included to appeal to today’s supercar customer. The big air vents not only maximise airflow to the engine but also add to the muscular look of the car.

2017 Ford GT

Image Source: Autoexpress

Only 250 cars will be produced up until 2020, offering exclusivity to its customers. With high demand and limited supply, the price is set at a hefty £320,000.


Related Blogs:
The New 2018 McLaren 720S – Our Car of the Month
Top 5 Most Expensive Aston Martins Sold at Auction
Driving the 2017 Honda NSX

What Borro Watched – April 2017 Edition

Cartier Pantere

Image supplied, courtesy of Cartier

Re-imagining Classic Watch Models

Watchmaking is an industry of classics, a battleground of stalwarts. Many new models are so obviously inspired by the past classic watch models that previously taboo terms such as ‘derivative’ or ‘homage’ have become par for the course in recent years.

Nobody likes to blatantly acknowledge the fact they’ve ripped off a beloved reference, or harvested somebody else’s genius, but it’s widely accepted that smaller brands with less heritage are expected, even encouraged, to do this.

Nobody, that is, but for the brand responsible for said classic. ‘Re-imagining’ classic watch models seems to be in vogue. And why not? Just like the frequent Hollywood remakes of seminal cinema, why shouldn’t watchmaking cherry-pick the greats from its annals of excellence, and bring them back to life using new technology, futuristic materials, and the improved manufacturing processes that continue to amaze and delight fans of haute horlogerie the world over?

To be honest, it’s about time…

Three’s Company

One of the biggest Basel stories this year was Omega’s 1957 collection. A trio of updates celebrating the Speedmaster, Seamaster, and Railmaster classic watch models all released in 1957.

Classic Watch Models - Omega Seamaster

Image supplied, courtesy of Omega

Given the longevity of these three ranges (especially the prolific performance of the Seamaster and Speedmaster lines) it’s amazing they all emerged at the same time. Calling 1957 a golden year for the Swatch Group’s most central brand is a massive understatement. The box set will set you back £16,830, but you can buy the pieces individually for around £5,065 each.

Cartier on the Prowl

And it’s not just the Swatch group that are at it! Arguably the massive conglomerate’s fiercest rival Richemont is stepping up to the plate with a reborn offering from the eighties.

Classic Watch Models - Cartier Panthere

The Cartier Panthère (medium size, set with diamonds pictured here for £110,000) is proof that this is not an exclusively male trend. What is most odd about the Panthère is the fact that it has its roots in the eighties – not often regarded as the most transcendent decade for luxury watch design due, of course, to the strength of quartz in that era. If, however, any brand knew how to ride the quartz wave it was famous French jeweller Cartier. There’s a myriad of models here priced between £3,000 and £110,000.

Heuer Autavia

Another classic watch model, another tropical dial. TAG Heuer have created a watch that recalls the finest elements of the Autavia’s design.

Classic Watch Models - Tag Heuer

Image supplied, courtesy of TAG Heuer

On the back of a social media campaign run last year to find the favourite Autavia reference, TAG Heuer have wisely reverted to the pre-1985 mononymic dial and created a watch that is clearly full of Heuer DNA. It’s a lovely piece and a great story, retailer for a shade under £4,000. And if these releases are anything to go by, one of the front-line of throwback pieces we’ll see in 2017.

About the Author

Fell Jensen is a Swiss-trained watchmaker working as an industry analyst.

Related Blogs:
An Insider’s 2017 BASELWORLD Review
Is an Omega Watch a Good Investment?
Is a Tag Heuer watch a good investment?

Must-See May 2017 Auction Calendar

Sotheby’s and Christie’s dominate the May 2017 auction calendar covering three major luxury asset classes – watches, fine art and jewellery. Here are the auctions you won’t want to miss!

Sotheby’s Important Watches – 14th May, Geneva

May 2017 Auction dates

Image Source: Sotheby’s

If you love unique timepieces then this auction is for you. The lot with the top estimate is this yellow gold Patek Philippe & Co Geneve pocket watch with Westminster chimes. It is expected to sell between £5-8 million.

Christie’s Post War and Contemporary Evening Sale – 17th May, New York

May 2017 Auction dates

Image Source: Artnet

Highlights of this sale include a Basquiat offered by collector Steve Cohen with estimates of £17 to £22 million. Completed in 1981, La Hara last came on the market in 1989 at Sotheby’s.

Christie’s Hong Kong Magnificent Jewels sale: 30th May, Hong Kong

May 2017 Auction dates

Image source: National Jeweller

Christie’s has brought two unique pieces to this auction, including this 25.27 carat Jonker diamond. It is set to be the top lot with an estimate of £2.8 million

Related articles:
How to Prepare a Luxury Watch for Auction
Top Selling African American Visual Artists
5 Best Websites for Jewellery News

AuctionAuction HouseVerticalStart DateLocationURL
Christies jewels OnlineChristie'sJewellery & Watches02/05/2017Online
CollectionsSotheby'sFine Art and Antiques02/05/2017Londonhttp://ow.ly/o4zi30b0UG2
Latin America: Modern Art OnlineSotheby'sFine Art and Antiques02/05/2017Onlinehttp://ow.ly/AFf530b0G3f
Latin America: Contemporary Art OnlineSotheby'sFine Art and Antiques02/05/2017Onlinehttp://ow.ly/N5jt30b0G9D
Deep Impact: Martian, Lunar and Other Rare MeteoritesChristie'sMemorabilia03/05/2017Onlinehttp://ow.ly/nrhq30b0DIQ
Old MastersSotheby'sFine Art and Antiques03/05/2017Londonhttp://ow.ly/iPs230b0UHo
19th Century European PaintingsBonhamsFine Art and Antiques03/05/2017New Yorkhttp://ow.ly/7H0r30b0UIx
Carlo ScarpaChristie'sFine Art and Antiques04/05/2017New Yorkhttp://ow.ly/8uBo30b0DN2
From Earth to FireSotheby'sFine Art and Antiques04/05/2017Londonhttp://ow.ly/STT730b0UJl
Picasso Ceramics OnlineChristie'sFine Art and Antiques05/05/2017Onlinehttp://ow.ly/oKil30b0DSm
Modern and Contemporary ArtHeritageFine Art and Antiques05/05/2017New Yorkhttp://ow.ly/LaML30b0UJR
Asian ArtBonhamsFine Art and Antiques08/05/2017Londonhttp://ow.ly/IQwb30b0UKm
Chinese works of artChristie'sFine Art and Antiques09/05/2017Londonhttp://ow.ly/V4i230b0DWu
Jewellery and WatchesChristie'sJewellery & Watches09/05/2017Londonhttp://ow.ly/6dUC30b0DZM
Travel, Atlases, Maps & Natural HistorySotheby'sMemorabilia09/05/2017Londonhttp://ow.ly/uu9Z30b0ULb
Important Chinese ArtSotheby'sFine Art and Antiques10/05/2017Londonhttp://ow.ly/eRl930b0ULU
Finest and Rarest WinesSotheby'sFine Wine10/05/2017London
The Julius and Arlette Katchen Collection fo Fine Net SukeBonhamsFine Art and Antiques10/05/2017Londonhttp://ow.ly/an8x30b0UMF
Menagerie: An English Private Collection of Chinese Animal CarvingsSotheby'sFine Art and Antiques10/05/2017Londonhttp://ow.ly/Nax030b0GjL
Fine Chinese ArtBonhamsFine Art and Antiques11/05/2017Londonhttp://ow.ly/X8hg30b0UNt
The Jongen-Schleiper Collection of Fine ThangkasBonhamsFine Art and Antiques11/05/2017Londonhttp://ow.ly/yZor30b0JYw
Fine Japanese ArtBonhamsFine Art and Antiques11/05/2017Londonhttp://ow.ly/3LbB30b0K39
Chinese ceramics and works of artChristie'sFine Art and Antiques12/05/2017Londonhttp://ow.ly/nryn30b0E3l
The Aston Martin Works SaleBonhamsLuxury Cars13/05/2017Londonhttp://ow.ly/YYIf30b0UOk
The Geneva Watch Auction: FIVEPhillipsJewellery & Watches13/05/2017Geneva
The May Sale 2017Silverstone AuctionsLuxury Cars13/05/2017Northamptonshirehttp://ow.ly/T27e30b0UWB
The Geneva Watch Auction: FIVEPhillipsJewellery & Watches13/05/2017Genevahttp://ow.ly/9WtD30b0TMw
Important WatchesSotheby'sJewellery & Watches14/05/2017Genevahttp://ow.ly/rCaM30b0UU6
Rare watches including a rolex afternoonChristie'sJewellery & Watches15/05/2017Genevahttp://ow.ly/QiVq30b0Vcy
Art of Africa, Oceania, and the AmericasSotheby'sFine Art and Antiques15/05/2017New Yorkhttp://ow.ly/cqwQ30b0UP2
Impressionist modern art and evening saleChristie'sFine Art and Antiques15/05/2017New York
Rare watches including a rolex afternoonChristie'sJewellery & Watches15/05/2017Genevahttp://ow.ly/ITKh30b0EbR
Fine and Rare winesChristie'sFine Wine16/05/2017Geneva
20th Century & Contemporary Art Evening SalePhillipsFine Art and Antiques16/05/2017New Yorkhttp://ow.ly/6tVW30b0TTQ
Modern and Contemporary African ArtSotheby'sFine Art and Antiques16/05/2017Londonhttp://ow.ly/Y5us30b0UQ5
Impressionist & Modern Art Evening SaleSotheby'sFine Art and Antiques16/05/2017New Yorkhttp://ow.ly/GJK230b0HAW
Watches and WristwatchesBonhamsJewellery & Watches16/05/2017Londonhttp://ow.ly/dIxR30b0UQJ
Post War and Contempoary ArtBonhamsFine Art and Antiques16/05/2017New Yorkhttp://ow.ly/tsa830b0URr
Impressionist and modern art works on paperChristie'sFine Art and Antiques16/05/2017New Yorkhttp://ow.ly/tluL30b0Em5
Impressionist and modern art day saleChristie'sFine Art and Antiques16/05/2017New Yorkhttp://ow.ly/jRke30b0EwZ
An Educated EyeChristie'sFine Art and Antiques16/05/2017Paris
LaliqueChristie'sFine Art and Antiques16/05/2017Londonhttp://ow.ly/VjsZ30b0EhV
Design Vente Du SoirChristie'sFine Art and Antiques16/05/2017Parishttp://ow.ly/3ZzJ30b0Eu9
Magnificent Jewels and Noble JewelsSotheby'sJewellery & Watches16/05/2017Genevahttp://ow.ly/DrL830b0GOR
20th Century & Contemporary Art Day SalePhillipsFine Art and Antiques17/05/2017New Yorkhttp://ow.ly/HQg830b0TPd
Impressionist & Modern Art Day SaleSotheby'sFine Art and Antiques17/05/2017New York
DesignSotheby'sFine Art and Antiques17/05/2017Parishttp://ow.ly/wJx530b0USb
Diego GiacomettiSotheby'sFine Art and Antiques17/05/2017Parishttp://ow.ly/wH7g30b0USI
Magnificent JewelsChristie'sJewellery & Watches17/05/2017Geneva
Post-war and contemporary evening saleChristie'sFine Art and Antiques17/05/2017New York
The English CollectorChristie'sFine Art and Antiques17/05/2017London
Mingei art of JapanChristie'sFine Art and Antiques17/05/2017Online
American Art OnlineChristie'sFine Art and Antiques17/05/2017Online
Finest and Rarest WinesSotheby'sFine Wine17/05/2017Londonhttp://ow.ly/GIsX30b0HVH
Fine Glass and British CeramicsBonhamsFine Art and Antiques17/05/2017Londonhttp://ow.ly/OEdy30b0K8Q
Antique Arms and armourBonhamsFine Art and Antiques17/05/2017New Yorkhttp://ow.ly/iLWB30b0KgD
Impressionist and Modern ArtBonhamsFine Art and Antiques17/05/2017New Yorkhttp://ow.ly/wLtN30b0Kr0
PhotographsPhillipsFine Art and Antiques18/05/2017Londonhttp://ow.ly/OZUy30b0TVk
Contemporary Art Evening AuctionSotheby'sFine Art and Antiques18/05/2017New York
ComicsHeritageFine Art and Antiques18/05/2017New Yorkhttp://ow.ly/r4bo30b0UTr
The Collection of the Late Lord Weidenfeld GBEChristie'sFine Art and Antiques18/05/2017Londonhttp://ow.ly/3tJW30b0EC9
Post war and contemporary morning saleChristie'sFine Art and Antiques18/05/2017New York
Post war and contemporary afternoon saleChristie'sFine Art and Antiques18/05/2017New York
PhotographsChristie'sFine Art and Antiques18/05/2017London
Indian Art OnlineChristie'sFine Art and Antiques18/05/2017Onlinehttp://ow.ly/rPQT30b0EIx
Picasso Man and Beast: Property from the collection of Marina PicassoSotheby'sFine Art and Antiques18/05/2017New Yorkhttp://ow.ly/Ye7730b0IbQ
Modern Sporting GunsBonhamsFine Art and Antiques18/05/2017Londonhttp://ow.ly/1oFP30b0KwT
Contemporary Art Day AuctionSotheby'sFine Art and Antiques19/05/2017New Yorkhttp://ow.ly/BJ5A30b0IfU
PhotographsSotheby'sFine Art and Antiques19/05/2017Londonhttp://ow.ly/zCvI30b0ITR
African & OceanicChristie'sFine Art and Antiques19/05/2017New York
Latin American Art OnlineChristie'sFine Art and Antiques19/05/2017Online
Bande Dessine et IllustrationChristie'sFine Art and Antiques19/05/2017Paris
The Discerning EyeSotheby'sFine Art and Antiques19/05/2017Londonhttp://ow.ly/7Tzh30b0Isd
Ascot RacecourseHistoricsLuxury Cars20/05/2017Ascothttp://ow.ly/OeBa30b0UVS
The Don Scott Cellar: 50 Years of Collecting, Part IIISotheby'sFine Art and Antiques20/05/2017New Yorkhttp://ow.ly/w4Ma30b0IRC
The Spa Classic SaleBonhamsLuxury Cars21/05/2017Francorchampshttp://ow.ly/sTwR30b0KLS
Exquisite Eye: Chinese Paintings OnlineChristie'sFine Art and Antiques22/05/2017Online
Asian 20th century and contemporary art online: paper/editionsChristie'sFine Art and Antiques22/05/2017Online
Modern and Contemporary ArtHeritageFine Art and Antiques22/05/2017New Yorkhttp://ow.ly/orRI30b0Tdu
Medieval and Renaissance Manuscripts and Continental BooksSotheby'sMemorabilia23/05/2017Londonhttp://ow.ly/NBi930b0UUO
American ArtSotheby'sFine Art and Antiques23/05/2017Londonhttp://ow.ly/wgWv30b0J1k
19th Century ArtChristie'sFine Art and Antiques23/05/2017New York
American ArtChristie'sFine Art and Antiques23/05/2017New York
Christies watches onlineChristie'sJewellery & Watches23/05/2017Online
Musical ManuscriptsSotheby'sMemorabilia23/05/2017Londonhttp://ow.ly/NILo30b0J6x
Home and InteriorsBonhamsFine Art and Antiques23/05/2017Londonhttp://ow.ly/UY4h30b0KUR
The Sporting SaleBonhamsFine Art and Antiques23/05/2017Edinbrughhttp://ow.ly/ImrK30b0KXS
Watches, Wristwatches and ClocksBonhamsJewellery & Watches23/05/2017New Yorkhttp://ow.ly/Wt2d30b0L6W
Latin AmericaPhillipsFine Art and Antiques24/05/2017New Yorkhttp://ow.ly/BvRi30b0TXi
European ArtSotheby'sFine Art and Antiques24/05/2017Londonhttp://ow.ly/TH4B30b0UVq
Latin American Art OnlineChristie'sFine Art and Antiques24/05/2017New York
InteriorsChristie'sFine Art and Antiques24/05/2017London
JewelleryBonhamsJewellery & Watches24/05/2017Edinbrughhttp://ow.ly/TTTj30b0Ldn
Modern and Contemporary South Asian ArtBonhamsFine Art and Antiques24/05/2017Londonhttp://ow.ly/mMxK30b0LjS
American ArtBonhamsFine Art and Antiques24/05/2017New Yorkhttp://ow.ly/Yt0C30b0Lpe
Latin American Modern Art Evening SaleSotheby'sFine Art and Antiques25/05/2017Londonhttp://ow.ly/UPLC30b0J2V
Latin American Contemporary Art Evening SaleSotheby'sFine Art and Antiques25/05/2017New Yorkhttp://ow.ly/fWG730b0J58
Latin American ArtChristie'sFine Art and Antiques25/05/2017New York
South Asian Modern and Contemporary ArtChristie'sFine Art and Antiques25/05/2017London
Arts of IndiaChristie'sFine Art and Antiques25/05/2017London
Fine and Rare WinesBonhamsFine Art and Antiques25/05/2017Londonhttp://ow.ly/CoR830b0Ls0
Finest and Rarest Wines from an exceptional private collection direct from octavian vaultsChristie'sFine Wine26/05/2017Hong Kong
Asian 20th century and contemporary art evening saleChristie'sFine Art and Antiques27/05/2017Hong Kong
Fine and Rare winesChristie'sFine Wine27/05/2017Hong Kong
Asian 20th Century art day saleChristie'sFine Art and Antiques28/05/2017Hong Kong
Chinese Contemporary UKChristie'sFine Art and Antiques29/05/2017Hong Kong
Fine Chinese Classical Paintings and CalligraphyChristie'sFine Art and Antiques29/05/2017Hong Kong
Important WatchesChristie'sJewellery & Watches29/05/2017Hong Kong
Asian Contemporary Art Day SaleChristie'sFine Art and Antiques29/05/2017Hong Kong
Fine chinese modern paintingsChristie'sFine Art and Antiques30/05/2017Hong Kong
Hong Kong Magnificent JewelsChristie'sJewellery & Watches30/05/2017Hong Kong
Resplendent and Glorious - Ancient Temples Amidst Clouds Previously From The Mei Yun Tang CollectionChristie'sFine Art and Antiques30/05/2017Hong Kong
Summertime Jewels OnlineSotheby'sJewellery & Watches30/05/2017Onlinehttp://ow.ly/6kyh30b0JA1
Handbags and accessoriesChristie'sJewellery & Watches31/05/2017Hong Kong
The Imperial Sale / Important Chinese Ceramics and Works of ArtChristie'sFine Art and Antiques31/05/2017Hong Kong
The Perfect Countenance - Fine Buddhist Works of ArtChristie'sFine Art and Antiques31/05/2017Hong Kong
Adorning the Kings - A Private Collection of Archaic Jade PendantsChristie'sJewellery & Watches31/05/2017Hong Kong
Yongzheng Emporor's Double Dragon AmphoraChristie'sJewellery & Watches31/05/2017Hong Kong