$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.

[Choo Yao Chuen]

Wow!!

[brkn]

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

[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.

[Madman37]

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

[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

[GoingPlaces]

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

[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.

[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

[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.

[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.

[dwjez14]

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

[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'

[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.

[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.

[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

[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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[huncho]

that's ridiculous...

serious question to 5711 owners, do you guys even wear your watch out at this point? it's crazy to see that a watch someone would love to wear and is a grail to many to become completely unwearable now as it's approaching RM levels lol

[noshake]

This is insane. Some people have crazy money I could never dream of. I hope it pays off as a long term investment.

[ap1]

Originally Posted by bankermm

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

[epicurus]

Tulip mania

[padi56]

Originally Posted by Ricky Rolex

Sold.

Utterly ridiculous


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Agree seems like today some have more money than sense.

[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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[vinny84]

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.

To my knowledge, you can not write off a charitable donation if you receive any goods or services. At least here in the US

[GoingPlaces]

Originally Posted by vinny84

To my knowledge, you can not write off a charitable donation if you receive any goods or services. At least here in the US

This is correct. Only the receiver of funds can assuming they donate all.


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[DLRIDES]

I understand there is wealth to such a degree that $5.3 mil is literally meaningless, and I am happy for their success !


But, a person that would pay $5.3 mil for a $40k watch just to prove some kind of deranged point ………………….. is mentally insecure to the point of insanity.

IMO