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A switch from blue to a green dial for Patek Philippe's hottest 5711 steel sports watch has taken none of the heat out the market, in fact it is much, much worse.
After a first quarter surge, driven mainly by rumors and then confirmations of discontinued watches, prices for the world's hottest watches from the likes of Rolex, Patek Philippe and Audemars Piguet are starting to cool.
Two fresh Chronographs and a ladies Travel Time added to Patek Philippe's sporty Aquanaut family.
Legitimate retailers of new or pre-owned luxury watches are urged to be on their guard because the trade is supporting dangerous criminals.
Highest price paid was $3.8 million for an 18ct gold ref. 3448 "no moon" automatic perpetual calendar by Patek Philippe
"I’m keen to travel again, to meet all the retailers. It’s not cool to talk remotely like this. I prefer to see them," says Thierry Stern.
If 2020 was about auctioneers selling more watches at lower prices through online auctions, 2021 is shaping up to be a year of record-breaking prices for the most prestigious pieces.
Leading the sale was a superb Cartier Mystery clock known as “Model A” that sold for $562,500.
Six Patek Philippe watches, alone, are likely to sell for well over $3 million each at May 22 Hong Kong sale.
Tiffany is now owned by LVMH, which has been transitioning from print to digital marketing for several years.