"London has been a veritable horological oyster for Bonhams during the past couple of years, since Christie's and Sotherby's ceased holding watch auctions in the capital. Now the competition is hotting up again, after Sotherby's reinstated its London sale in July and scheduled another for December (see calender). In addition, a long-established dealer is planning to start swinging the gavel at his own independent watch auctions. Johnny Wachsmann, whose Pieces of Time business has been a fixture of Mayfair's Grays Antiques Market (right) for 25 years, was organising his first auction as this copy of On Time went to press. He intends to use a central London location and accept everything for consignment from the best Patek Philippe models down to items worth as little as £200."