Antiquorum Auctioneers has a new CEO

Written by James Matthews

Antiquorum Auctioneers, one of the world’s leading auction houses for watches, has ousted its CEO and Chairman Osvaldo Patrizzi in a boardroom coup, according to people familiar with the matter.

Antiquorum’s board voted to dismiss Mr. Patrizzi at an Aug. 2 meeting, these people said. John Tsukahara, an executive of the Tokyo-based holding company ArtistHouse Holdings Inc., which owns 50% of Antiquorum, has been appointed as the new chairman, they added.

Reached by phone, Mr. Patrizzi said he planned to contest the board’s decision, but declined to elaborate. ArtistHouse Holdings could not be reached for comment.

It remains unclear what prompted board members to oust Mr. Patrizzi, the founder and part-owner of the closely-held auction house, which has played a leading role in pioneering the influential watch auction market.

At the helm of Antiquorum, Mr. Patrizzi has over the years organized several record-breaking auctions that helped boost the cachet of several high-end Swiss watch brands such as Movado, paving the way for the industry’s current unprecedented boom.

This post was written by James Matthews. If you have any questions or comments you may contact him at james@jewelerslounge.com