The Monaco Legend Group (MLG) has made a remarkable leap to fourth place in the 2023 global watch auction rankings by Every Watch, a feat that stands out not only for its position but for the distinctive approach behind it. Amidst the giants of the auction
world—Christie’s, Phillips, and Sotheby’s—MLG’s ascent is a testament to its strategic focus and the consistently high quality of watches that it offers.

With only two auctions held in the year, with a total of 539 lots, MLG has demonstrated an extraordinary understanding of the market by curating sales that command both attention and respect. In obvious contrast to its competitors, who typically organise at least 10 sales annually with total sales ranging from 1,500 to 4,000 lots, MLG’s strategy is sharply focused on quality over quantity.

This approach has not only set MLG apart but has also significantly boosted its average sales price per lot to an impressive $95,752; the second highest in the report and a clear indicator of the auction house’s premium offerings.

The total value of MLG’s sales for the year amounted to a stunning $47,481,646, showcasing the high calibre of watches that pass through its auctions. This strategic selection has evidently captivated collectors and investors alike, underscoring the auction house’s capacity to attract top-tier lots and discerning buyers.

Claude Cohen, Co-Chairman of MLG, shed light on another aspect of the business that supplements its auction success: “Our private sales department has mirrored the auction turnover, doubling our impact in the market. This department’s continuous growth signals our clients’ trust and the global demand for high-quality, rare timepieces.”

Davide Parmegiani, also Co-Chairman, provided insight into the philosophy underpinning their success: “Our strategy to focus exclusively on the most important and rarest timepieces has clearly distinguished us in a competitive market. Monaco Legend Group has become the ultimate destination for collectors in search of vintage and collectible watches of exceptional value. Our position today as a leader in the market is a direct result of our commitment to excellence and professionalism.”

As MLG aims to climb even higher in the rankings, the emphasis on conducting fewer auctions with meticulously curated lots of the highest quality and rarity has proven to be a game-changer.

Parmegiani’s vision for the future is optimistic: “By maintaining our focus on the pinnacle of quality and the uniqueness of each piece, we anticipate not just meeting but surpassing our ambitious goals.”

Monaco Legend Group’s significant achievement, based on its strongly curated auctions and an impressive average price per lot, has set a new benchmark for success. As MLG continues to chart its course, it serves as a compelling example of how discerning curation and a commitment to excellence can lead to extraordinary outcomes. Ross Povey

PHOTO: MLG Co-Chairmen Davide Parmegiani and Claude Cohen