Audemars Piguet Announces New Royal Oak Offshores

Welcome to the 51st edition of Maximalist! Dive into the ultimate guide, filled with insider insights into the world of fashion, art, real estate, travel, jewelry, and horology.

The world of luxury is never boring, and this week is no exception. Let’s dive in!

Markets

On this week’s agenda:

1. Audemars Piguet Announces Three Colorful New Royal Oak Offshores

2. A Recap of This Year’s Pebble Beach Concours d’Elegance

3. Abu Dhabi's Sovereign Wealth Fund to Acquire Minority Stake in Sotheby's

4. Stegosaurus Skeleton 'Apex' Fetches $45 Million at Auction

5. Thieves behind the $1MM Patek Theft in BH Have Been Caught

Audemars Piguet Announces Three Colorful New Royal Oak Offshores

Announcing new Royal Oaks from Audemars Piguet could easily be a recurring theme, but the launch of a 37mm pink gold Royal Oak Offshore brings a fresh allure. Despite the model's storied reputation, there's something appealing about this smaller, stylish iteration.

The allure of the grey bezel is subtle yet distinct. This summer, Audemars Piguet unveiled three innovative Royal Oak Offshores, starting with a 37mm pink gold version. This watch features a 12.1mm thick case, grey rubber bezel, and an ivory grande tapisserie dial accentuated with pink-gold hour markers. It's mounted on a grey rubber strap reminiscent of sharkskin, similar to their Offshore Music Edition. It houses the AP Caliber 5900, an automatic movement with a 60-hour power reserve, operating at 4 Hz. Despite its traditionally robust design, this smaller model’s elegance is undeniable. It retails for $47,200.

Earlier this year, Mark captured images of the 43mm model during Audemars Piguet’s new launches in Milan. This variant features a stainless steel case, a blue rubber bezel, and a strap to match. It comes with a new generation smoked blue mega tapisserie dial and the automatic caliber 4302, boasting a 70-hour power reserve. Although a blue Royal Oak may seem predictable, this piece's execution remains compelling. Priced at $27,400, it exudes a modern charm.

The collection also includes a Royal Oak Offshore Selfwinding Chronograph, which stands out with a 43mm stainless steel case, ceramic pushers, and a crown. The smoked bronze mega tapisserie dial features white gold hour markers. Inside, it runs on the AP automatic caliber 4401, a column wheel flyback chronograph movement. Dressed in a brown alligator strap, it offers an alternative black rubber strap for versatility. This model is suitable for most offshore activities with its 100-meter water resistance and retails at $41,600.

These new additions may not stir as much buzz as the mini Royal Oaks released earlier, but they’re perfect for summer activities. The 37mm pink gold model, with its 50-meter water resistance, is especially suited for casual water-related fun. This line brings a refreshing dimension to the Offshore series, emphasizing that small sizes can be just as compelling without the need for diamonds or elaborate dials.

The Basics
Model: Royal Oak Offshore
Reference Numbers: 77605OK.OO.A101CA.01; 15605SK.OO.A350CA.01; 26420ST.OO.A828CR.01
Diameters: 37mm; 43mm
Thicknesses: 12.1mm; 14.4mm
Case Materials: Pink gold (37mm); stainless steel (43mm and chronograph)
Dial Colors: Ivory (37mm); smoked blue or bronze (43mm and chronograph)
Indexes: Applied gold
Water Resistance: 50 meters (37mm); 100 meters (43mm and chronograph)
Straps/Bracelets: Grey, blue, and brown interchangeable straps with additional black rubber options

The Movement
Calibers: Caliber 5900 (37mm); caliber 4302 (43mm); caliber 4401 (chronograph)
Functions: Time and date; flyback chronograph
Diameters: 26.2mm (5900); 32mm (4302 and 4401)
Thicknesses: 3.9mm (5900); 4.9mm (4302); 6.8mm (4401)
Power Reserves: 60 hours (5900); 70 hours (4302 and 4401)
Winding: Automatic
Frequencies: 4 Hz
Jewel Counts: 29 (5900); 32 (4302); 40 (4401)

A Recap of This Year’s Pebble Beach Concours d’Elegance

The Pebble Beach Concours d'Elegance, a pinnacle event of Monterey Car Week, displayed an unmatched array of vintage and modern marvels this year. During a week filled with back-to-back events and surprises around every corner, the Concours stood out by awarding an unrestored 1934 Bugatti Type 59 Sports the Best of Show—a historic first.

The streets were alive with automotive treasures, from street-parked supercars to historic race cars, providing endless car-spotting joy. The events offered a whirlwind of eye-catching moments, exemplified by a remarkable 100-year-old Mercedes Targa Florio race car, known for its unique red color—a tactic to gain favor on Italian roads during races. This car, alongside others like the 2016 United Nude Lo-Res Car and a collection of Land Rovers owned by the late Queen Elizabeth, showcased the diverse appeal of the event. See below for out top 10 favorites from the week.

1970 Lancia Stratos HF Zero Bertone Coupe
Among the stars was the 1970 Lancia Stratos HF Zero Bertone Coupe, a wedge-shaped prototype that turned heads with its groundbreaking design and historical significance, having fetched €761,600 at a past auction.

1948 Talbot-Lago T26 GS Saotchik Fastback Coupe
The 1948 Talbot-Lago, noted for its mint green and brown scheme, was a final contender for Best of Show, highlighting its exclusivity and exquisite design.

1964 Ferrari 250 GT Scaglietti Berlinetta Lusso
This Ferrari, a testament to timeless elegance, was recognized with the FIVA Postwar Trophy, underscoring its storied past and beauty.

1964 Lamborghini 350 GT Touring Coupé
The Lamborghini 350 GT shined with its advanced design and performance, emphasized by its rare turquoise green color, making it a standout piece at the show.

1925 Bugatti Type 30 Torpedo
The Bugatti Type 30, an architectural marvel, was celebrated for its influential design and engaging history, previously owned by high-profile figures.

1955 Mercedes-Benz W196 R Formula 1 Race Car
The W196 R, a beacon of Mercedes-Benz’s racing legacy, was displayed, reflecting on its dominant past in Formula One racing.

1964 Iso Rivolta A3C Drogo Coupe
The Iso Rivolta A3C featured a striking design and powerful performance, embodying the competitive spirit of its era.

1938 Maserati 8CTF “Boyle Special” Indianapolis 500 Race Car
This Maserati, known for its victory at the Indianapolis 500, was celebrated for its groundbreaking engineering and success in American motorsport.

1960 Porsche 1600GS Carrera GTL Abarth Coupe
The Porsche Carrera GTL, famed for its lightweight design and racing pedigree, continued to attract admiration for its historical significance and design.

The 2024 Pebble Beach Concours d'Elegance not only celebrated automotive history through its spectacular displays and competitions but also through special moments like the awarding of a Rolex to the Best of Show winner, and the showcasing of historical anecdotes and legacies that continue to shape the automotive world. As the event wrapped up, the blend of historical reverence and modern spectacle affirmed Pebble Beach as a critical summit for car enthusiasts globally.

Abu Dhabi's Sovereign Wealth Fund to Acquire Minority Stake in Sotheby's

Abu Dhabi’s sovereign wealth fund, ADQ, has finalized an agreement to acquire a minority stake in the prestigious auction house Sotheby’s, currently owned by French-Israeli telecom magnate Patrick Drahi. This $1 billion deal is set to be completed by the end of the year, with ADQ purchasing newly issued shares to support Sotheby’s future growth and innovation.

Under the terms of the deal, ADQ aims to reduce leverage and inject new energy into Sotheby’s ambitious expansion and modernization plans. Patrick Drahi will retain his position as the majority shareholder and will also contribute additional capital to further these initiatives. The exact valuation of Sotheby’s remains undisclosed.

This investment follows rumors of Drahi considering a private sale or public offering of Sotheby’s shares since 2021, with other sovereign wealth funds, including Qatar Investment Authority, previously showing interest. The move comes at a time when Drahi’s business empire faces financial pressures due to high interest rates affecting his highly leveraged ventures, including Altice, which is reported to be under a $60 billion debt.

Charles Stewart, CEO of Sotheby’s, expressed enthusiasm about the partnership, highlighting ADQ’s long-term vision and the strategic boost this investment will provide. He noted, "The additional capital and investment expertise will enable us to accelerate our strategic initiatives, expand our commitment to excellence in the art and luxury markets, and continue to innovate to better serve our clients globally."

This acquisition marks a significant step in enhancing Sotheby’s financial stability and its ability to lead in the art and luxury sectors, promising a future of robust growth and innovation.

Stegosaurus Skeleton 'Apex' Fetches $45 Million at Auction

The stegosaurus skeleton known as "Apex" has set a new benchmark in the world of paleontological sales, fetching an astonishing $44.6 million at a Sotheby's auction, making it the most expensive fossil ever sold.

Apex, expected to draw between $4.9 million and $7.4 million, shattered its high estimate, commanding a final price six times greater during a spirited bidding war that concluded with an anonymous buyer's victorious bid. This event took place at a live sale in New York, where the fossil was met with resounding applause as the hammer fell.

The remarkably complete stegosaurus skeleton, which stands 11 feet tall and extends 27 feet in length, was unearthed accidentally in 2022 by Jason Cooper, a commercial paleontologist. The discovery occurred on his property located in the appropriately named town of Dinosaur, Colorado. Cooper named the dinosaur Apex, signifying its dominant stature during the late Jurassic period, approximately 145 million to 160 million years ago.

Sotheby's specialist Cassandra Hatton was involved from the outset, meticulously documenting the find's excavation, restoration, and preparation. The auction house noted its adherence to the highest standards throughout the process, which also included the sale of rare fossilized skin impressions and ossicles that were part of Apex. The buyer has expressed intentions to potentially loan the historic specimen to a U.S. institution, ensuring that Apex remains in America.

The sale of Apex eclipses previous records set by notable specimens such as the T.rex "Stan," which sold for $31.8 million in 2020, and "Sue," which garnered $8.4 million in 1997. The burgeoning interest in dinosaur skeletons has seen escalating prices, indicating a robust and competitive market for these prehistoric treasures. This sale not only highlights the value of such unique collectibles but also sets a soaring new standard for future auctions in the realm of paleontology.

Thieves behind the $1MM Patek Theft in BH Have Been Caught

Time has run out for two individuals accused of a high-profile robbery involving a Patek Philippe watch valued at $1 million. The suspects, identified as visitors from South America, were apprehended following the theft of the luxury timepiece at the Beverly Wilshire Hotel.

The incident occurred on August 7, when the alleged thieves confronted a man dining with his family at the hotel's patio restaurant. According to federal court documents, one assailant brandished a firearm while his accomplice forcibly removed the platinum Nautilus watch from the victim's wrist. The duo then escaped in a blue Toyota Corolla. This vehicle was later linked to another crime involving the theft of a $30,000 Rolex in Beverly Hills, leading to their capture on August 10.

The stolen Patek Philippe Nautilus (Ref. 5711/113P-001) is a rare, gem-set model produced in limited quantities for select clients. This model, which features a platinum case and an emerald-set bezel, was discontinued in 2021, making it exceedingly rare and highly valuable.

The accused, Jamer Mauricio Sepulveda Salazar from Colombia and Jesus Eduardo Padron Rojas from Venezuela, are believed to be part of a larger criminal network known as the South American Theft Group. This group reportedly uses false identities and fraudulent immigration tactics to facilitate their crimes across the U.S. Sepulveda, who is 21, and Padron, 19, face serious charges, with potential life imprisonment for Sepulveda and up to 20 years for Padron if convicted.

Luxury watch thefts have surged globally, with over $1 billion in losses reported last year. Major cities like New York, Los Angeles, and London have seen a rise in such crimes. Authorities advise the public to remain alert, consider concealing expensive watches while in public, and possibly leave high-value items like Pateks and Rolexes at home to avoid becoming targets.

Thank you for supporting the world of luxury.