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LVMH announced they are buying Tiffany today for $16.2bn. Here is a bit on the Patek angle of the Tiffany relationship: Ever since the rumor of this deal surfaced, there has been chatter within the community about what it might mean for watches – or more directly, if the transaction will change the
It’s amazing how they periodically still get back to this obsession of Patek being on sale, even after no shred of evidence was ever produced, and Mr Stern had to offer countless unequivocal denials after Bloomberg’s damaging fake news. Now the conspiracy theory is even expanding: if Patek allows Tiffany to keep co-signing its dials, maybe Patek itself is planning to sell to LVMH...🤦‍♂️🚑 I’m not sure if Tiffany will continue to co-sign Patek, but what I’m certain about is that we won’t see a Pat
It’s a business who sells clicks. Your post echoes my thoughts.
Hodinkee is still taken seriously be many watch collectors, so I believe they have a moral obligation to maintain standards well above Bloomberg or the like. And I'm sure they understand they have much more to lose than Patek by going down this route...the last thing Hodinkee wants is to develop a reputation of "fake watch news", which would be nearly impossible to recover from. So this is obviously their decision, but I still hope they'll choose to correct that part of today's article in a time
...it’s good for new watch buyers whom may be “investing” substantial sums of money into a Patek to at least consider what the future might hold and how that might impact their “investment”. (Yes, I’m sure there are readers of H that will put substantial sums of money into their collections, and that information or opinions gathered on H will influence those purchases. I also don’t want to ignore that many people will invest in Patek by purchasing a watch). With all that said do we think it’s OK
Even though I buy Pateks primarily for passion, I have no problem to admit I've happily "invested" quite a bit of my money in those cute watches, so I also love to hear how the brand is doing. If there's any significant news or development worth reporting, it's only good that reputable sources share it with the collectors community. However, I believe the concern here should be on a broader point. This latest rumor originated with a Bloomberg article where, for whichever motive, they revived the
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