Phillips is holding its first Japanese-themed watch auction

Not counting the Quartz Crisis, we can’t say for sure if Asian watchmaking will ever unseat the dynastic dominance of the Swiss luxury watch industry. Yet Phillips' announcement of its first thematic auction dedicated to the Japanese watch collecting world signals that Japan’s influence in horology is gaining remarkable significance.

Taking place on Nov 22, 2024 at Phillips Asia’s headquarters in Hong Kong, the TOKI Watch Auction will present over 100 lots that comprise exceptional references from Japanese collectors, as well as pieces from independent Japanese watchmakers.

“Japanese watch collectors have significantly impacted global collecting trends, and the combination of excellent maintenance, rarity, and influence makes watches from their collections highly sought after in the auction market,” said Thomas Perazzi, head of Watches, Asia, and Phillips Watches’ senior consultant Kaz Fujimoto in a joint statement. “Additionally, Japanese watchmakers are renowned for their innovative approaches and ability to produce high-quality timepieces.”

Indeed, experienced bidders will want to keep their paddles at the ready for lots like the Rolex Ref. 6264 Cosmograph Daytona with a “Paul Newman Panda” dial, a Harry Winston Opus One Ref. 200/MAFPJ38P made by FP Journe and featuring a platinum case with green dial, and a platinum Patek Philippe Ref. 5016 with Roman numerals on a grey dial — the first of its kind to appear on the market.

Big name independents like Roger Smith, Vianney Halter, and De Bethune have also been collected for TOKI, but independent Japanese makers — many of them self-taught — have become just as appealing to collectors due to their unique blend of craftsmanship, innovation, and that elusive under-the-radar quality that makes them feel like hidden gems.

For instance, one of Masahiro Kikuno’s calling cards is his Temporal Hour Watch, which uses an ancient Japanese system of counting the hours based on the seasons as well as sunset and sunrise times. Because he makes almost every part of the watch himself, from components to cases, Kikuno only produces one or two watches a year. His dedication and ingenuity caught the eye of Phillipe Dufour, who recommended he join the Academie Horlogere des Createurs Independants (AHCI), a highly regarded association dedicated to preserving the art of handmade watchmaking. In 2013, at the age of 30, Kikuno became the AHCI’s youngest full member.

Then there’s Hajime Asaoka, one of the most influential independent figures in the Japanese horology scene. He was responsible for making Japan’s first tourbillon in 2009, after which he was accepted as a member of the AHCI, began selling watches under his own name in 2011, and founded Precision Watch Tokyo Co Ltd in 2016. As parent company to Asaoka’s own Kurono Tokyo and close friend Jiro Katayama’s Otsuka Lotec, Precision Watch Tokyo Co Ltd is also keen on training young watchmakers.

Such stories are plentiful in the Japanese watchmaking scene (though the actual watches are not), but here are a few highlights from TOKI that will give you a snapshot of a very different side of watchmaking.

KURONO TOKYO GRAND NIJI 

Estimate: US$9,000-US$18,000 (S$11,945-S$23,890)

While it’s slightly disappointing that Hajime Asaoka’s own watches won’t be making an appearance at this auction, his “diffusion line” Kurono Tokyo is. Unlike the Hajime Asaoka watches, Kurono Tokyo pieces are industrially manufactured and use movements from Miyota and Citizen, thus greatly bringing down the price while maintaining Asaoka’s signature style. Still, their pedigree and limited quantity make them considerably difficult to acquire, so any appearance anywhere is appreciated.

This unique auction piece is the only known example of a Kurono Tokyo in a precious metal — pink gold — as the standard models are cased in stainless steel. The Grand series pays homage to Asian craftsmanship, so the dial is decorated with urushi lacquer showing off ethereal layers of rainbow hues.

OTSUKA LOTEC NO. 6 “SHINONOME”

Estimate: US$2,000-US$4,000

Former car designer Jiro Katayama’s handmade watches are well-known for two things: their charming steampunk style and their difficulty to obtain. Not only are they exclusively distributed in Japan, interested buyers still need to win a raffle, secure a local address for delivery, then pay with a credit card issued by a Japanese bank.

This makes the present watch a great opportunity for worldwide collectors to get their hands on an Otsuka Lotec, and this No. 6 is a one-of-a-kind piece in blackened stainless steel.

SEIKO ASTRONOMICAL OBSERVATORY CHRONOMETER

Estimate: US$20,000-US$40,000

It wasn’t just that Seiko made Japan’s first wristwatch (the Laurel in 1913) that propelled it to industry dominance today. It was also because it took precision very seriously, very early on. In 1963, Seiko submitted a quartz Crystal Chronometer clock to a chronometer contest organised by the Observatoire Cantonal de Neuchatel — and came in 10th. This made Seiko the first non-Swiss company to finish in the top 10.

Following that achievement, Seiko started developing highly accurate wristwatches called the Astronomical Chronometer, with 226 of them certified by the observatory. By the late 1960s, these watches cost six times more than the basic Grand Seiko at the time. What makes this auction piece exceptionally rare is its exhibition case back, as most had solid ones.

CASIO G-SHOCK DREAM PROJECT “PURE GOLD” REF. G-D5000-9JR

Estimate: US$25,000-US$50,000

Casio created the G-Shock in 1983 as a heavy-duty watch that was nigh-indestructible. The model it launched 35 years later for the G-Shock’s anniversary is just heavy. Weighing a hefty 297g, the case, bracelet, buttons, and even the screws of the G-Shock Dream Project “Pure Gold” is crafted from 18K yellow gold. The solar-powered watch features world time, alarm, stopwatch, and timer functions, and took five years of development to ensure it would still pass the infamous G-Shock torture tests.

Only 35 pieces were produced, available exclusively through a ballot in Japan, and quickly sold out. The auction piece is accompanied by a paulownia wood box, stamped with a hanko seal bearing the Japanese inscription “Gravity Dream Project.”

TAKANO CHATEAU NOUVEL CHRONOMETER “TOKI”

Estimate: US$6,400-US$13,000

Founded in 1899 as a clockmaker, Nagano-based Takano began producing watches in 1957 but ceased operations in 1961 due to the rise of brands like Seiko and Citizen, as well as significant damage to its factory from Typhoon Vera in 1959. In 1962, Takano was absorbed into Riken Kankoshi (now Ricoh Corporation), which still holds the Takano trademark.

Enter Hajime Asaoka (again). His company Precision Watch Tokyo Co Ltd recently signed a licensing agreement with Ricoh to produce watches under the Takano name, thus reviving this almost-forgotten brand and launching a refreshed design of its Chateau watches this July.

The standard Takano Chateau Nouvelle Chronometer have dials in black or white, but this unique piece in 37mm stainless steel has a dial crafted by Asaoka himself, in the traditional Japanese colour known as “toki iro”, named after the peachy hues of the crested ibis.