Happy Friday, watch enthusiasts, and a massive congratulations to Hodinkee’s own Mark Kauzlarich for serving on the prestigious Grand Prix d’Horlogerie de Genève (GPHG) jury, helping select this year’s incredible slate of winning timepieces.
Looking back at last week’s auction results and scorekeeping our previous picks, the Beyner and Grimm tourbillon prototype performed exceptionally well, selling for €169,000 all-in against a pre-sale estimate of €40,000 to €80,000. Meanwhile, the Yema Yachtingraf realized €2,600, the Omega Recife found a buyer at €1,700, and Tropical Watch’s offering of a vintage Daytona successfully changed hands as well.
Strays
Collectors seeking early Heuer reference 3647 Carrera 45 chronographs have plenty of options on the horizon. Two distinct variants—a white dial model and a black dial model—are slated to go under the hammer on the 14th. However, for those interested in a vintage Carrera with a significantly higher degree of flash, an 18-karat gold model paired with an integrated 18-karat Gay Frères bracelet is also coming up for auction.
For buyers who were captivated by the Eterna Majetek featured a few weeks ago, two similar military-issued examples are heading to the auction block: a cushion-shaped steel Lemania variant and a round-steel-cased Eterna variant. Vintage Omega Seamasters featuring Breguet numerals continue to command a dedicated following, and a newly surfaced example currently up for auction provides a masterclass in why these references inspire such fervent collecting enthusiasm. Furthermore, an intriguing Sinn chronograph from the 1970s manages to feel entirely unassuming while remaining achingly excellent, a New Old Stock (NOS) Junghans J88 military chronograph highlights an under-appreciated column-wheel movement, and Mr. Shear has collectors covered for those who have been patiently waiting for an end-game vintage Rolex Milgauss reference 6541.
Piaget Reference 12423
An upcoming Van Ham auction offers an absolute cornucopia of horological amazements, ranging from a tropicalizing Patek Philippe reference 3700/1 Nautilus and an Urwerk UR-103 to a Limited Edition Little Lange 1 Soirée with a mother-of-pearl dial and an impossibly beautiful solid gold IWC powered by the legendary Caliber 89. With 158 lots in total, the catalog offers plenty of worthwhile material for discerning collectors.
However, the undisputed standout of the group is an extraordinary Piaget reference 12423. From a strictly horological standpoint, the case for this watch is straightforward: it is driven by Piaget’s legendary 12P ultra-thin automatic movement. Debuting in 1960 and measuring a remarkable 2.3mm thick, it stood as the thinnest automatic movement available upon its release. The 12P achieved this unprecedented slimness thanks to the development of the micro-rotor, the patent for which was filed in 1954 by Buren.
Beyond its mechanical achievements, this particular reference 12423 presents compelling aesthetic reasons for attention, beginning with its mesmerizing dial. Though it bears a few subtle spots near the outer edge by the four o’clock marker and a very faint blemish near the top right, these minor imperfections only heighten its organic charm, drawing the eye naturally across the surface. The dial has developed an uneven tropical patina around its perimeter that has consistently captivated observers.
Complemented by a seemingly unpolished white gold case and an original Piaget white gold clasp, this sensational 1960s-to-1970s dress watch carries a pre-sale estimate of just €1,200 to €3,000. Featuring a historically significant movement and an arresting visual presence, it stands out as an exceptional acquisition ahead of its auction on the 18th.
Eterna Super Kontiki 130 PTX/3
While finding a pristine Eterna-Matic Super Kontiki to highlight can be challenging, a compelling mid-1960s example has emerged for auction on the 15th with an estimate between €1,500 and €2,500. While Super Kontikis may not command the universal mainstream recognition, market traction, or astronomical pricing of certain contemporary vintage dive watches, they remain deeply respected icons with a dedicated literature base.
Super Kontikis are phenomenal timepieces that offer immense value for collectors entering the vintage dive watch market. They feature substantial proportions, measuring 39 to 40mm wide excluding the crown, complemented by a large, highly functional rotating bezel. With proper service from a qualified watchmaker to refresh the seals and gaskets, these watches can often be restored to their original 20-ATM water resistance rating.
Powering these divers are various Eterna movements incorporating the brand’s pioneering ball-bearing oscillating weight system, patented in 1948. Their primary aesthetic appeal, however, lies in their distinctive dials and handset configurations. Generously filled with luminous material, they feature a design language entirely unique to Eterna, setting them apart from the crowd of traditional mid-century dive watches.
This particular specimen is in honest, highly wearable condition despite a few minor considerations. The crown has been replaced with a non-original, slightly undersized component, though sourcing a correct replacement should not prove overly difficult. Additionally, the luminous material has aged to a darker patina, which, while visually imperfect, appears entirely original and will likely keep the hammer price approachable. Ideally, the watch would be presented on its original Gay Frères brick-link Eterna bracelet, but collectors will find plenty to love in its current configuration. With its beveled lugs, uniquely proportioned dial, and grippy bezel, it remains a joyous, charismatic companion on the wrist.
Girard-Perregaux Olimpico
The Girard-Perregaux Olimpico line occupies a celebrated yet mysterious place in vintage watch history, defined by a surprising scarcity of concrete production facts. Universally, all models within the Olimpico family were chronographs, and none were produced in large numbers—historical records suggest that no single reference exceeded 1,000 examples. The collection was introduced in 1968, but verifiable production details quickly thin out beyond that milestone.
Early references like the 8846 and 8862 were followed in 1976 by references 9238 and 9245, which introduced various dial layouts, including standard and reverse-panda configurations. It remains a subject of debate among historians whether the line was created specifically to celebrate the Olympic Games, timed roughly to coincide with them, or simply named for marketing appeal.
Among all variants, the reference 9075 stands out as the finest and most intriguing outlier. According to period catalogs, the 9075 was available between 1969 and 1970—a period during which no Olympic Games were hosted. Historical ambiguities aside, the watch’s standalone beauty easily eclipses any archival gaps. It features a 39mm stainless steel chronograph case powered by an exceptionally attractive Excelsior Park EP 40-68 column-wheel movement, paired with a rotating bezel and a remarkably striking dial layout.
The example currently offered by collector and scholar Nico, also known as Mr. Enicar, represents an exceptionally well-preserved specimen. Because these chronographs rarely appear on the open market, buyers often have to settle for compromised examples, making this pristine reference 9075 all the more desirable. The stainless steel case retains its original factory finishing, the dial is crisp and remarkably clean, and the watch has recently undergone a complete mechanical service. Offered at €8,500, this rare sports chronograph is unlikely to remain available for long.
Trio of Lemania Tg 195 Tre Kronor
Rounding out the selection are three examples of the unusual Lemania TG 195, a military-issued timepiece whose origins are shrouded in as much mystery as the Girard-Perregaux Olimpico. Nomenclature debate surrounds the "TG" designation: while some sources translate it as Tyg grupp ("materials group"), others point toward Tids givare ("time giver"), though the former remains the generally accepted consensus.
Issued specifically for the Swedish military, these watches bear the distinct "Three Crowns" (Tre Kronor) stamp on the caseback, serving as Sweden’s institutional equivalent to the British Ministry of Defense’s broad arrow mark. Although long-standing collector lore linked the watches to Swedish bomb disposal squads, that specific attribution has never been definitively substantiated.
The most fascinating aspect of the Lemania TG 195 lies in its mechanical operation. Despite resembling a traditional two-register chronograph, it functions as a synchronization tool rather than a stopwatch. Powered by the Lemania caliber 2225, depressing the pusher at the two o’clock position simultaneously returns the running seconds hand to the 12 o’clock position and pops out the crown, allowing the wearer to synchronize time precisely to the second.
Kaplans is offering a trio of these late-series TG 195 watches with estimates ranging from 10,000 to 30,000 Swedish Kronor in an upcoming auction on the 14th. All three feature the larger crown motifs etched onto their asymmetric 40mm cases, sharing a design language closely related to contemporary Lemania monopushers. Each watch presents unique characteristics: the first features well-preserved lume accompanied by some dial spotting; the second offers a cleaner dial surface with heavier aging to the luminous material; and the third exhibits a striking tropical dial transformation paired with hands that have aged differently. All three retain honest, unpolished cases with clear military caseback engravings.
Buyer Beware
Collectors browsing current auction catalogs should exercise caution regarding a lot listed as an Omega Speedmaster "Ultraman." While the watch features an appealing bezel, a tired dial with flaked-off lume, and a heavily worn 1039 bracelet accompanied by extra links in an Omega box, critical discrepancies reveal it to be an incorrect configuration.
Most notably, the serial number falls entirely outside the production range for an authentic Ultraman. Furthermore, the central chronograph seconds hand—the visual hallmark of the reference—is incorrect. An authentic Ultraman features a distinct, elongated central seconds hand that stretches nearly to the outer edge of the visible dial, a detail absent on this specimen. Watch enthusiasts will be hoping the lot remains close to its modest €2,000 to €3,000 estimate.
