Auctions: A Live Preview Of This Weekend's Fall 2025 Monaco Legend Auction

We are about to enter an auction season that could be unlike anything we’ve seen before. Monaco Legend Group moves first in the market’s annual game of chess. The MLG auction, taking place this weekend on Saturday, October 18, and Sunday, October 19, has certainly brought out a wide range of options for collectors across various price points.

A bit further along in this preview, I’ll break down my picks for watches at three different price points. However, here are a few key lots to highlight.

This auction includes two significant F.P. Journe watches, including a Chronomètre à Résonance (ref. RN, Lot 81) with an estimate of €200,000 to €400,000, and the incredibly complicated Astronomic Souverain (Lot 152), with an estimate of €1,000,000 to €2,000,000. There are also a handful of Langes. This used to be an auction house where these kinds of watches flew under the radar, so I’ll be watching results here.

I recall a time not too long ago when a yellow gold Patek 1518 was a cornerstone lot at an auction. Now, they can feel like old news. However, MLG has two notable examples, including an original-owner-family consigned piece (Lot 170) with an estimate of €500,000 to €1,000,000. This is a bit more worn. The other example is also in yellow gold with a full double French hallmark case that’s a bit stronger, and the dial has a better, more contemporary cleaning with sharp windows (Lot 220). The higher estimate range of €650,000 to €1,300,000 reflects the fact that this watch is easier to appreciate on its face.

There’s a solid run of split-second chronographs in the auction, too. Another Patek Philippe ref. 5004 in steel (Lot 20, €500,000 to €1,000,000) has popped up for sale. The number I’ve often seen quoted (50 made) seems wildly under-estimated, but it’s still an incredible watch. A platinum 5004 with a black dial also appears in the catalog (Lot 259, €350,000 to 700,000), but I have a soft spot for the oddball ref. 5959P (Lot 266, €250,000 to 500,000), a 33mm split-second monopusher with white lacquer dial and black, painted Breguet numerals. Then there’s the uber-cool Breitling Duograph ref. 764 (Lot 109, €25,000 to 50,000), which, at 38mm, wears a bit more modern despite the 1940s manufacture. It’s got a bit of patina on the dial but a little mojo to go with it. And while they’re not split-second chronographs, there’s a great selection of other 1930s and 1940s chronographs from Rolex and Patek as well.

Price is No Option

Although out of reach for most people and perhaps not the most creative picks, there are always a few watches that are so special they warrant discussion. In this case, the number one talking point is the highest estimate in the auction, a yellow gold Rolex ref. 6062 with a black dial and diamond indices. It’s the kind of thing any true vintage collector should want to experience in person.

No, this isn’t the famous Bao Dai; aside from lacking that provenance, the dial configuration and bracelet here are different, and it’s one of two known in this configuration. It’s a stunningly great watch, even for the uninitiated. You can easily look at this watch with no knowledge and understand what makes it great, but it far outstrips the quality of the Bao Dai as well. The timing on that watch, with its provenance, resulted in a $5,060,427 result in 2017, whereas this sold for 1/10th the price just over a decade prior. The timing is right for a watch like this to return to market, when collectors should finally understand that this is the Holy Grail of Rolex. The estimate is “in excess of €3,000,000,” a price rarely seen at auction, even after the market boom.

Sticking with Rolex, there are two truly incredible platinum Day-Date models with similar vibes and Arab-related histories. Lot 67 is a rare ref. 6612B with a diamond-set dial that’s patinaed to yellow and features Eastern Arabic discs and a platinum tessellated bracelet. What happened? Why don’t we get bracelets like this anymore? Then there’s Lot 196—nicknamed “Scheherazade”—which is a ref. 1804 with a gold-toned dial with pink gold applied Eastern Arabic numerals and a diamond-set bezel. This is a legendary watch for collectors and last sold at MLG in 2022 for €260,000. The estimates are €120,000 to €240,000 and €180,000 to €360,000, respectively.

Finally, I was very excited to see the last lot of the auction, the Patek Philippe ref. 2481 “Tropical Rain Forest” cloissoné wristwatch, and it didn’t disappoint. The last of these dials to come up was at Phillips New York in June 2023, selling for $1,117,600, demonstrating the demand for the vibrant dials of the 1950s. This one is particularly vibrant, which isn’t always the scenario with these dials. The case also looks strong and has some nice patina near the crown. Usually, you’d have to visit the Patek Philippe museum to see similar dials (of which they have two), so I’m sure some collector would love to acquire this at €400,000 to €800,000.

Mid-Budget Picks (≤€25,000 Starting Bid)

I’m showing some American pride here with the Patek ref. 1578 “GMOO” in yellow gold with black dial. Yellow/black combos on Patek time-only watches are pretty highly coveted, but even cooler is that the watch is engraved to “A.G. Ferris – 1921–1953,” who served as part of General Motors Overseas Operations. These dials are a dead giveaway for GM watches (of which there are maybe 50). Not to mention, factory black dials from Patek are incredibly rare. At €15,000 to €30,000, it might feel a bit punchy as these often sell in the $18,000 range, but you never know what deal you might get, and these should be worth a lot more than they are.

It’s hard for me to pass up talking about an Audemars Piguet with a 13 ligne movement, like Lot 43, with the VZSSC central-seconds variation. In steel with a silver dial and Arabic indices at 3, 6, 9, and 12, it’s not my favorite configuration I’ve ever seen, but it’s a darn good one, and these are great buys at the low end of the €15,000 estimate, just a bit small at 33mm.

Finally, Lot 198 is a really interesting Cartier that, even in its basic steel form, doesn’t get a ton of attention. This one is in platinum. The Santos Octagon is an oddball; there’s no two ways about it—but it’s also quite cool, with a brutalist, bold aesthetic that plays into the Royal Oak vibes while still being distinctly Cartier. The combination of platinum with a creamy dial, diamond indices, a diamond bezel, and diamonds in the screw holes between the lugs is just simply cool. The dial isn’t perfect, but it seems reasonable at the lower end of the €20,000-€40,000 range.

Affordable Picks (≤€10,000 Starting Bid)

Here’s the hardest group to pick, in my opinion, because I think MLG does the best job of any auction house when it comes to presenting affordable deals without overwhelming you with 600 lots. I could have gone straight down the middle and picked some straightforward deals (of which there are a few potential options) or real outside-the-box options (including a fun Gilbert Albert-esque Vacheron – Lot 12, which is definitely small for most people), but I’m splitting the difference.

First is a cool Heuer Solunar (Lot 26) with a reasonable €4,000 to 8,000 estimate. The dial on this example seems pretty bright white compared to other models, which is a nice look. Previous sales seem to range around $4,000 to $7,000, but this case and dial combo looks to be the strongest that’s come up in a while.

Second is an unusual oblong Audemars Piguet Ellipse signed Cartier (Lot 60), with an estimate of €10,000 to 20,000. AP and Cartier have a long and fascinating history of working together, and that’s why you’ll sometimes see watches that resemble other Cartier forms (like their sideways Ellipse), but they look a bit different. This is an AP from case to movement, just with a Cartier signature on the dial, which is pretty cool.

Finally, there’s a Rolex ref. 3167 “Chronometre” watch in a combination of yellow and pink gold. At a fair €5,000 to €10,000, I think the unusual or unexpected-shaped Rolexes have a lot going for them. This one is 34mm, so it’s a tad small for some people, but the interesting shape makes it look bigger. The dial is also a bit worse for wear, but in the kind of way that vintage lovers connect with as character from age. I think a buyer comfortable with this size and condition could build an amazing and interesting collection with a watch like this.

For more on the Fall 2025 Monaco Legend Auction and to register, visit their website.