WATCHMAKERS have produced fine watches and clocks for hundreds of years and pre-owned watches play an important role in the world of collectors. Although some are sold in shops, many of the finest second hand watches are sold at auction.
Since watch auctioneer Antiquorum held its first auctions in Hong Kong in 1978, the regional market for watches sold this way has been growing.
Antiquorum is strengthening its position in the China market by opening an office in Shanghai this year.
Chairman and chief executive Osvaldo Patrizzi, who founded the Geneva-based auction house in 1974, said the increase in the number of sales in Hong Kong followed Antiquorum's overall strategy of reinforcing its presence in Asia.
'Hong Kong is easily accessible for Asian clients from all points of view,' he said. 'The human factor has also been a deciding issue, as you need to have the right people in place and this takes time to develop. Today, we have that and we can maximise on their potential.'
Antiquorum says it has two categories of watch-buying clients in China.
