Bonhams London Fine Watches: The Top Lots to Watch for in September 2025

For serious collectors and newcomers alike, the autumn auction season is more than just a string of sales, it’s a key moment in the watch calendar. At the heart of it this year is London’s Knightsbridge, long associated with international luxury. While global powerhouses like Christie’s and Sotheby’s host major events in Geneva, Hong Kong, and New York, the sale drawing particular attention is Bonhams London Watches on September 10, 2025

This auction reflects today’s watch market in miniature, offering an interesting mix of vintage rarities, creative collaborations, and enduring classics. It also highlights the mindset of collectors who are carefully adjusting their portfolios during a period of market consolidation.

The Patek Philippe 5036/1R: An Enduring Complication

The Patek Philippe Reference 5036/1R is a true jewel of the auction, an 18K rose gold automatic annual calendar with moon phase and power reserve indication. From circa 2000, this watch represents Patek Philippe's mastery of elegant complications. It is powered by the Caliber 315/199 automatic movement and is presented on a matching 18K rose gold bracelet. A critical detail for any serious collector is that this lot comes as a complete set, including its original box, outer packaging, and Certificate of Origin dated April 18, 2000. This full documentation is essential in the secondary market, where a complete set can significantly influence a watch’s final sale price and authenticity.

The Bonhams estimate for this piece is £15,000 - £20,000. When comparing this to past sales, a similar Patek Philippe 5036/1R was listed at a Sotheby's auction with an estimate of $20,000-$30,000 USD. The slight difference in these valuations, even when accounting for currency conversion, points to a broader trend in the 2025 market. The luxury watch market has been undergoing a period of correction, with prices for many sought-after models shifting since their peaks. This situation emphasizes the importance of market timing; a piece’s valuation can vary depending on the economic climate at the time of sale, making strategic buying and selling decisions paramount for collectors.

The Bremont "Space" Ronnie Wood: A Fusion of Horology, Art, and Rock & Roll

Breaking from traditional horological narratives, the Bremont "Space" watch is a masterpiece of a different kind. It is a unique 18K white gold automatic triple calendar wristwatch with a moon phase and a dial hand-painted by Ronnie Wood of The Rolling Stones. This piece is designated as a "1 of 1," making it an incredibly rare artifact. It belongs to a highly limited series of 47 watches, each with a unique hand-painted dial, created by Wood to pay tribute to his birth year, 1947. Wood, a critically acclaimed artist, painted these dials while on tour with the band, infusing each piece with a palpable connection to his rock-and-roll journey. Bremont co-founder Giles English noted that such a comprehensive series of one-off dials is unprecedented in the industry.

This watch's estimated price is £7,000 - £9,000, a notable contrast to its original retail price of £38,950. This difference illustrates a key shift in the 2025 market. While brand liquidity and investment potential are crucial, a new wave of collectors is seeking "passion pieces". items whose value is derived from a unique story and artistic merit, rather than purely from brand prestige or market demand. The Bremont "Space" is a perfect example of this trend, offering a unique opportunity to own a piece of wearable art with an undeniable connection to music history.

The Rolex Single Red Submariner 1680: A Collector's Obsession with Imperfection

For many vintage enthusiasts, the Rolex Single Red Submariner, Reference 1680, from circa 1971, is a quintessential grail watch. Valued at an estimated £10,000 - £15,000, this stainless steel piece is historically significant for several reasons. It was the very first Submariner model to feature a date window and a Cyclops magnification lens. More importantly, it is the only Submariner to ever have its "Submariner" text printed in red on the dial. Rolex produced this variant for a short period, from about 1967 to 1975, before switching to an all-white text.

The allure of the Single Red Submariner lies in its finite supply and the collector's fascination with unique production details. This is an excellent example of how the vintage market assigns immense value to what were once considered manufacturing oddities. For example, certain Mark II and Mark III dials that have developed a rare brown "tropical" patina due to a manufacturing flaw are now among the most highly-sought-after variants, with one selling for over $105,000. This preference for distinctive aging and "imperfections" is a defining characteristic of vintage collecting, where a watch's unique story, even one of a production anomaly, can dramatically increase its worth over time.

The Full Catalog: Beyond the Headliners, A Strategic Portfolio

While the three headliners command the most attention, the Bonhams catalogue showcases a curated selection that appeals to a wide range of collecting philosophies. The auction is not just a showcase of high-value rarities but a full-spectrum offering that includes classic complications, sporting icons, and timeless designs. This diversity is a critical part of its appeal to modern collectors who are thinking about their collections as strategic portfolios.

Other notable lots include a Breguet Classique Ref: 7137, an 18K gold automatic calendar with moon phase and power reserve, a piece that exemplifies traditional horological elegance. For motorsport fans, the Heuer Monaco Ref: 73633 B, a vintage stainless steel manual wind chronograph, represents a direct link to the golden age of racing and cinematic cool. A limited edition Omega Renaissance 1894 in 18K rose gold provides another example of a historically significant piece from a top-tier brand. Finally, the catalogue includes a classic lady's 18K gold Cartier Tank Française, demonstrating the auction's breadth to appeal to collectors of all tastes.

The table below provides a concise overview of these key lots and their estimated values, making it easy to compare and contrast the opportunities available at the sale.

2025 Market Insights: Navigating the New Era of Collecting

The Bonhams sale is not an isolated event; it is a perfect reflection of the broader trends shaping the luxury watch market in 2025. Following a period of unprecedented price escalation, the market is now in a cooling phase, described as a "strategic rebalancing". Since its 2022 peak, the secondary market has seen a 23.9% decline. This shift is not a sign of collapse but a sign of maturity, where informed collectors are making calculated moves rather than distressed sales.

A key observation of this period is the divergence in brand performance. Contrary to the common assumption that all luxury watches hold their value, the market is now highly brand-specific. For example, data from the first quarter of 2025 shows that Tudor watches saw a price increase of 1.7% and Audemars Piguet rose by 0.8%. By contrast, Rolex experienced a 2.9% decline, and IWC saw an even more significant drop of 4.9%. This trend underscores that factors like media influence and consumer preferences now play a critical role in a brand's market performance, forcing collectors to be more discerning than ever before.

This new market reality has also brought the "vintage versus modern" debate to the forefront. Vintage watches, like the Rolex Single Red, appeal to collectors for their unique patina, finite supply, and high long-term appreciation potential. However, they come with challenges, including authenticity concerns and the need for specialized knowledge and maintenance. 

A Date for Your Diary

The Bonhams London Watches sale in Knightsbridge on September 10, 2025, is a significant event for the global watch community. It is a moment where narratives of historical importance, artistic collaboration, and technical prowess converge on the auction floor. From the intricate Patek Philippe to the one-of-a-kind Bremont and the storied Rolex, each piece offers a unique entry point into the world of high horology.

This auction, and the market it reflects, presents a new paradigm for collectors. It is a time for strategic, informed decisions, moving beyond brand-following to a deeper appreciation for an item’s provenance, rarity, and unique narrative. Whether one is a seasoned bidder or a first-time attendee, the opportunity to see these exceptional watches up close is unmissable. The auction viewing dates, from September 7th to the 10th, provide a rare chance to engage with these timepieces on a personal level before they find their next chapter of ownership. This sale is not just a transaction; it is a high-stakes event that helps shape the future of watch collecting, one storied piece at a time.