Sure, the art, wine, truffle and lobster markets all suck, but not everthing is getting hammered. In Geneva — where they have a thing for fine timepieces — a rare Patek Philippe watch sold for a record price:
Bloomberg: Christie’s International sold a Patek Philippe watch for a record $805,932 in an auction yesterday in Geneva, the day after a Sotheby’s auction of timepieces that failed to meet its low estimate.
A European collector bought the Patek Philippe, made in 1963 for Tiffany & Co., Christie’s said in an e-mailed statement late yesterday. The price was the most paid at auction for a yellow- gold watch. The sale raised a total of 17.9 million Swiss francs ($15 million), exceeding its lower estimate, Christie’s said.
Ok, so it’s not all good news, as the weak Sotheby’s auction confirms. Still.
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