A collection of highly sought-after watches will head to auction after being seized by HMRC during a major investigation into multi-million-pound payroll fraud. Their previous owner clearly had an eye for horology, but not for their tax obligations.
The five watches — a Philippe Dufour Simplicity, a Patek Philippe Perpetual Calendar Split-Seconds Chronograph, two Audemars Piguet Royal Oaks and an Omega Speedmaster Racing — are thought to be worth around £1 million, although the final tally could be considerably higher.
'Time really is money — and the countdown is on'
Leading the collection is the Philippe Dufour Simplicity, widely regarded as one of the finest achievements in independent watchmaking and among the most coveted watches on the collector market. First unveiled in 2000, it was a deliberate departure from the horological wizardry for which Dufour was known. His aim was to prove that simplicity, far from being the enemy of sophistication, could be its ultimate expression. Each iteration, like all of Dufour’s other creations, was hand-finished and assembled by him. In 2021, a 2004 model CHF756,000 (about £685,000) against a CHF250,000–500,000 estimate. Not bad for a watch whose greatest trick is making the complicated look deceptively simple.
The rest of the line-up is hardly small change. The Patek Philippe Perpetual Calendar Split-Seconds Chronograph combines two of traditional watchmaking’s most demanding complications, while the Audemars Piguet Royal Oak helped turn the humble steel sports watch into a luxury icon. One of the two available to bid on is a Flying Tourbillon ‘Premier’ model, from a limited edition of just 10 pieces. The Omega Speedmaster Racing, meanwhile, brings a little motorsport pedigree to proceedings.
As with all Unreserved Government Auctions, every lot will sell, whatever the final hammer price. For once, time really is money — and the countdown is on.
The Unreserved Government Auction is with Wilsons Auctions. A range of Rolex watches and jewellery completes the sale. Click here for more information and to register to bid.