Patek Philippe

A story from my local newspaper today (original source Associated Press): "An auction house says a Patek Philippe gold wristwatch sold for a record price of $US5.7 million at a Swiss auction. Christie's said on Tuesday it was the highest price ever for a ...  

From Christies website: Lot Description Signed Patek Philippe & Co., Genève, ref. 1527, movement no. 863'247, manufactured in 1943 Cal. 13''' nickel-finished lever movement stamped with the Geneva seal, 23 jewels, bimetallic compensation balance, sil... 

that sold it has made a great profit.... I wonder what was the original retail price of it.... cheers

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this watch is apparently one of a kind, custom made for the original owner so PP might be buying it back for its own museum, while generating some publicity for its brand. the latter is probably more effective than placing advertisement globally!

PP might be the buyer but that would only be positive..... If the watch was sold for $5,2 million (instead of the $5,7) it would still be an incredible price.... there was more than one buyer involved (unless PP was bidding against PP which I highly doubt... 

a news report I read so it is positive as you said. There was also some chatter about "Chinese bidders." The wealth being created in China has resulted in some price inflation (my opinion only) as these new buyers seem to be less price sensitive in buildi... 

Philippe Stern was sitting front row and Mr Tellier from the PP museum was bidding for him Another rather tenacious bidder was sitting front row also and was bidding against PP and a Asian phone bidder till well above 5 Mill What a result and awesome watc... 

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An incredible piece which just had to go there.

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Hi, This is the picture of two gentlemen from the private museum just after the lot was sold. Mr.Phillipe Stern and Mr.Arnaud Tellier....  

Mr. Stern looks a little light in the wallet after that transaction. I think I smell a price increase coming....