An Exclusive Interview with Thomas Perazzi

Beyond established names like Patek Philippe and Rolex, are there any emerging brands in the auction world?

F.P. Journe has been the rising star of recent years. The brand perfectly embodies our focus on quality and rarity. Journe produces extraordinary, highly complicated timepieces, while keeping production deliberately limited, around 1,000 watches per year. Compared to major brands, these numbers are very small, and that scarcity plays a crucial role in the brand’s success and growing recognition among collectors.

How do you define a true vintage watch?

Technically, the term “vintage” originates from the champagne world and refers to items made more than 20 years ago. By that definition, even watches from the early 2000s could be considered vintage today.  However, in the watch world, the term is generally used for watches produced up until the 1980s or early 1990s, a period before major changes in the industry. More recently, the market has also adopted the term “neo-vintage” or “neo-classic,” referring to watches from the late 1980s, 1990s, and early 2000s. Today, discontinued wristwatches can broadly be classified into three categories: vintage, neo-vintage (or neo-classic), and contemporary.

What advice would you give to someone new to collecting who wants to buy a watch at auction?

The simplest and most important advice is to reach out to a specialist at Phillips. We always take the time to understand a collector’s background, what they like, what they wear, what they are looking for, and their budget. With that information, we can guide them toward watches that truly match their taste and expectations. While headline-grabbing results often attract attention, Phillips offers watches for every type of collector and every budget. This is also why we introduced online sales and our private sales platform, Perpetual, which offers timepieces around the clock.

Last year was very strong for Phillips. What are your expectations for the year ahead?

Of course, we always aim to improve, although it is still early to make precise predictions. What I can say is that the market currently appears to be in very good shape. The global watch collecting market feels solid and positive, and I have a bright and optimistic outlook for the year ahead.

Do you have a personal favorite among last year’s watches?

There were many, but one stands out above all: the Patek Philippe 1518 in stainless steel. For me, as a watch enthusiast for many decades, this watch represents the ultimate holy grail. It is the first perpetual calendar chronograph ever produced by Patek Philippe, dating back to the 1940s. Despite being over 80 years old, it remains remarkably modern in appearance, with an exceptional movement that is still perfectly functional today.

How would you describe the interest of Turkish collectors in watch auctions?

Turkish collectors and Turkish people in general have always shown a strong passion for mechanical watches. In recent years, this interest has grown even further. We are seeing more collectors from Turkey engaging with our auctions and the international market, particularly in search of rare vintage timepieces that are difficult to source locally. This growing enthusiasm is a very positive sign, both for the Turkish market and for the global watch collecting community as a whole.

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