$5.3m Patek Tiffany

[Ricky Rolex]

Sold.

Utterly ridiculous


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[brandrea]

I was watching, and that indeed is the definition of insanity.

[ericisback]

Originally Posted by brandrea

I was watching, and that indeed is the definition of insanity.

What is everyone watching?

[Choo Yao Chuen]

Wow!!

[brkn]

and now a 5711 blue dial is at 210k and still going. I don't understand.

[Madman37]

Is that the southbeys auction? God Patek is next level the white and black Daytona went for 27k dollars cheaper than chrono24

[GB-man]

This is literally pump and dump except the pumpers are the manufactures. It’s the Patek way. This is a very affordable marketing scheme for LVMH and Patek.

[sp5702]

6MM with the buyer’s premium. Whoever paid that is going to take a bath on it long term.

[vinny84]

Originally Posted by sp5702

6MM with the buyer’s premium. Whoever paid that is going to take a bath on it long term.

I think it was for charity? Even so, still ridiculous

[bob sims]

Originally Posted by sp5702

6MM with the buyer’s premium. Whoever paid that is going to take a bath on it long term.

Maybe.
Or they may make a million reselling next week.
Could also be an oil sheikh worth 7 billion to whom this is pocket change and a gift for one of his wives-or boy toys!

[GoingPlaces]

Maybe PP bought it themselves, who knows. This will however change the Nautilus game permanently. Brilliant plan by PP/Tiffanys. Everyone wins.

[jaySL350]

Originally Posted by GoingPlaces

Maybe PP bought it themselves, who knows. This will however change the Nautilus game permanently. Brilliant plan by PP/Tiffanys. Everyone wins.

+1

[johnwigan]

Originally Posted by GoingPlaces

Maybe PP bought it themselves, who knows. This will however change the Nautilus game permanently. Brilliant plan by PP/Tiffanys. Everyone wins.

No, everybody does not win. People who pay these inflated prices and then a couple of years down the line find their 'investment' is worth a fraction of what they paid lose.

Everyone wins is never true. Prices can down. People can - and I think will - lose a lot of money. Also, not great if you just want to buy a watch to wear These boards are more about money-making, than watches these days. Hence, prices increases are deemed a good thing. The charity got a lot of money though, which is good.

[GoingPlaces]

Originally Posted by johnwigan

No, everybody does not win. People who pay these inflated prices and then a couple of years down the line find their 'investment' is worth a fraction of what they paid lose.

Everyone wins is never true. Prices can down. People can - and I think will - lose a lot of money. Also, not great if you just want to buy a watch either. These boards are more about money-making, than watches these days. Hence, prices increases are deemed a good thing. The charity got a lot of money though, which is good.

Seriously? Whoever spends 6 million on a watch I'm certain is well aware of risk/reward. People take risk, there are no guarantees, nor should there be. It's a free wold and free market. For those that might get hurt later, guess what? They have the option of selling now and making a great margin. Or they can roll the dice and hold.

In this case PP wins, Tiffany wins, Nautilus owners win, and the person that bought the watch wins because they got what they wanted...price be damned. I doubt they will be kicking or questioning themselves on their yacht because they might have overpaid.

On the flip side, there are a lot of great watch makers that offer watches you can still buy at retail.

[S``]

Originally Posted by GoingPlaces

Seriously? Whoever spends 6 million on a watch I'm certain is well aware of risk/reward. People take risk, there are no guarantees, nor should there be. It's a free wold and free market. For those that might get hurt later, guess what? They have the option of selling now and making a great margin. Or they can roll the dice and hold.

In this case PP wins, Tiffany wins, Nautilus owners win, and the person that bought the watch wins because they got what they wanted...price be damned. I doubt they will be kicking or questioning themselves on their yacht because they might have overpaid.

On the flip side, there are a lot of great watch makers that offer watches you can still buy at retail.

Mr Wigan might have a crystal ball that nobody else has. If you counted his pullback spiel, he will be RIGHT one day... But wrong on the other days... But since this is a forum, no need for accountability

[subtona]

Originally Posted by johnwigan

No, everybody does not win. People who pay these inflated prices and then a couple of years down the line find their 'investment' is worth a fraction of what they paid lose.

Everyone wins is never true. Prices can down. People can - and I think will - lose a lot of money. Also, not great if you just want to buy a watch to wear These boards are more about money-making, than watches these days. Hence, prices increases are deemed a good thing. The charity got a lot of money though, which is good.

The watches are being treated like a commodity so it’s to be expected they are accompanied by the associated risks.

Anyone not interested in seeking to profit or pay over retail won’t expose themselves to the risk.

[PPOnlyT-Stamps]

Watch collecting has reached a new level of appreciation and admiration from the community. Ever since the auction of THE ONLY ONE at $31M, people wondered if that was the peak. Today marks a time where everyone will realize that these premiums are here to stay and going forward, watches are a new asset class just as valuable if not more practical than fine art! At least I can wear my watches and not have it hang on the wall…

[miamiclay]

I don’t think the buyer (if a US taxpayer) would get away with deducting the full difference between $6,503,500 total paid and that $52,635 Phillips “estimate” as a charitable deduction.

In this instance, I’d expect “fair market value” to be determined by the next several public auction prices. E.g., if the next few of these were to sell at an average of $1 million each, I think the buyer of this one could legitimately claim a charitable deduction for the extra difference paid, or $5,503,500.

(This is not tax advice, and I am definitely *not* your lawyer.)

[dwjez14]

Whoever bought it I bet could crap out 6 million. I bet mark Wahlberg gets one sent to him direct from Patek with his great collection for free or at retail. I hope this doesn’t draw more attention to the watch market and bring in more people with bad intentions to buy and flip watches.

[GoingPlaces]

Originally Posted by dwjez14

Whoever bought it I bet could crap out 6 million. I bet mark Wahlberg gets one sent to him direct from Patek with his great collection for free or at retail. I hope this doesn’t draw more attention to the watch market and bring in more people with bad intentions to buy and flip watches.

Of course it will. Values on Nautilus and other hot models likely to shoot up. More margin means more flips. The game has changed and not likely to ever return to normal.

[dwjez14]

Watch what is about to happen to the Rolex oP price now with the turquoise dial. To the moon !

[lexterj]

Originally Posted by dwjez14

Watch what is about to happen to the Rolex oP price now with the turquoise dial. To the moon !

Thinking the same


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[rolexjackson]

I think the only winner here is the nature conservancy and the winning bidders tax write off…


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[Fleetlord]

An excellent result....but there is much more room to grow.

These are still very inexpensive trophy assets compared to some modern art, high end collector cars, some sports memorabilia...etc. The money sees that now and is dipping its toe in the water...

Moon!!!!

[bankermm]

Blue Horseshoe loves 'Tiffany Blue Dial'....spread the word; give your friends a 'taste'

[ap1]

Originally Posted by bankermm

Blue Horseshoe loves 'Tiffany Blue Dial'....spread the word; give your friends a 'taste'

[Harry_S]

Originally Posted by bankermm

Blue Horseshoe loves 'Tiffany Blue Dial'....spread the word; give your friends a 'taste'

I lol’d at this 🤣 well done sir for that reference.

[AK797]

Originally Posted by Harry_S

I lol’d at this 🤣 well done sir for that reference.

I've used that WS ref a couple of times before, but now one could use it every other week.

[JMGoodnight369]

So I have a question about this. I watched it live on their app and before when he went through the legal stuff he said it was a charitable donation. So does that mean the buyer gets to write that off on taxes? If so wouldn’t the buyer get some of it back in a tax refund? Also that would mean that Philips would get to write it off as well.

[GoingPlaces]

Originally Posted by JMGoodnight369

So I have a question about this. I watched it live on their app and before when he went through the legal stuff he said it was a charitable donation. So does that mean the buyer gets to write that off on taxes? If so wouldn’t the buyer get some of it back in a tax refund? Also that would mean that Philips would get to write it off as well.

At this level I doubt anyone is thinking taxes. Billion dollar companies with billion Dollar buyers. The buyer does not get the write off, they get a watch. PP or the owner of the watch gets the write off since they receive the money and donate all of it. Phillips pays taxes unless they donate their fee to said charity. Same money can’t be written off twice.


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