Gelfman’s interest in watches was passed down to him from his grandfather who was an avid pocket watch collector. After inheriting the latter’s 140-piece collection at the age of 18, he has continued to grow it to around 3,000 pieces today. “Pocket watches aren’t so popular right now, but that’s good for me because I can buy them quite easily and I think interest will increase at one point in the future”, he says.
He has put his collection on hold for the moment – buying only one new piece last year and two the year before – to concentrate on his other watch projects. He is currently President & Chief Technology Officer at Ineichen, a Zurich-based auction house that was founded in the 1970s and has now been revived thanks to Gelfman’s love for information technology. “I am currently working on new AI systems for Ineichen to discuss with clients and learn everything about watches. We will be launching a whole new platform next year.”
In addition to the auction house, Gelfman has also founded his very own watch brand, which he introduced to GMT Publishing during this year’s Geneva Watch Days, along with a first model, the IN-16 Nixie. This eye-catching timepiece presents a striking design with two Nixie tubes that indicate the time, date, and battery status with vibrant orange digits. The timepiece can be linked and set via a smartphone – Gelfman is an IT whizz, after all! He is also working on a second model to be launched next year, which will feature a mechanical movement this time, although it will also play with electricity and display the time in a unique way.
The entrepreneur notably works closely with fellow Russian watchmaker Konstantin Chaykin, with whom he has been friends for over 18 years. Ineichen put together a special auction dedicated to his friend’s work in August with 15 lots. He also has some projects in the works with the constructor and watchmaker Anton Suhanov, who was Chaykin’s Manufacturing Director for ten years before setting up his own brand.
Even if all these projects have been keeping Gelfman busy, he still keeps his eye on the vintage market. “There are still timepieces that I really want to buy, but unfortunately no one wants to sell”, he explains. “I would love to find a Breguet Sympathique, for example, but that is a tough one to find, so maybe I’m done collecting now, who knows!”
But as they say, once a collector, always a collector. Instead of collecting pocket watches, maybe his collection has evolved into watch businesses instead! Either way, he is going to be a fun person to follow as he continues to blaze his own trail.
Ineichen Auctioneers
Fifty years of affordable Swiss auctions
The well-known Zurich auction house founded by Peter A. Ineichen in 1973 is now in the forefront of innovation and its online sales platform has already won over almost 30,000 connoisseurs around the world, attracted by its convenient access and transparent costs. This anniversary year is marked by the opening of a new city-center boutique to welcome aficionados, as well as a new online service to buy or sell watches in just a few clicks. Designed by the watch enthusiast at the helm, Ilya Gelfman, it offers a rare range of experiences and value for money.
Classics names and independents to ensure pleasing variety
This distinctive collector’s touch is also reflected in the thematic sales orchestrated since the revival of Ineichen Auctioneers under Gelfman’s impetus, notably resulting in four world records in five years. Last year, he made his mark with a Royal 50 sale commemorating the 50th anniversary of the Royal Oak, at which 50 timepieces were sold for a total of 6.5 million. This year he turned the spotlight on another great brand from the Vallée de Joux with its “The Art of Breguet” auction. His penchant for independent brands was notably illustrated by two Konstantin Chaykin sales in 2022 and 2023, and above all by the Independents 2023 auction in May which fetched CHF3.6 million. To celebrate its 50-year jubilee, Ineichen also held the Ineichen 50th Anniversary sale in December featuring a combination of classic and historical timepieces, as well as the Independents 2023 Part 2: Christmas Edition, projecting bidders firmly into the future of watchmaking.
