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Good night for Rolex! 17.7 mil for PN

October 26 2017 at 5:09 PM

Richard Carver  (Login Richard.Carver)
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from IP address 50.22.52.25



    
This message has been edited by Richard.Carver from IP address 50.22.52.25 on Oct 26, 2017 5:24 PM


 
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julian
(Login watch-guy.com)
VRF Contributing Member
120.151.34.245

They certainly out did Patek tonight

October 26 2017, 5:29 PM 

3970P hammered for < 100k

NOS 6263 crazy prices

Any one calling the top of the market????????????????????????

Julian

 
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Richard Carver
(Login Richard.Carver)
VRF Emeritus
50.22.52.25

The PNPN would bring 20 million tomorrow...

October 26 2017, 5:33 PM 

... happy.gif

 
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Nikos
(Login greekbum)
VRF Member
72.185.205.143

Where can i sell my watches at these prices i have some nice ones left (nt)

October 26 2017, 6:04 PM 


 
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Sam
(Login idahowatchdude)
VRF Member
96.19.254.67

Utterly SPEECHLESS!! [nt]

October 26 2017, 7:40 PM 


 
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EP
(Login FusionStorm)
24.23.196.164

Will a rising tide lift all boats......

October 26 2017, 8:46 PM 

I'd guess the worldwide attention for what this hammered at will add yet more collectors to our ranks.....

 
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Robbe1675
(Login Robbe1675)
VRF Member
86.90.136.46

even a 25 usd swatch would have sold at 2500 here

October 27 2017, 12:50 AM 

Auction obsession: when there are lesser gods also for sale, they get hyped the same way as the 20 mln PN.

Because come on, these prices are absurd. A lot of these watches are for sale directly, for much less. (not the PN of course) .
A Monaco for 42500 usd? A red sub for 52500?

By the way, what is a Philippe Dufour really worth when the estimate was already 200.000 usd, and the hammer price was almost 5 times that estimate.

 
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Mark020
(Login Mark020)
VRF Contributing Member
185.69.116.107

Exactly

October 27 2017, 1:21 AM 

I think I will sell all I have at Phillips and retire

 
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fatboyharris
(Login fatboyharris)
VRF Member
151.229.167.68

These prices are not really of this world...............

October 27 2017, 3:26 AM 

........a weird and crazy world out there.......at least watches are a form of portable wealth easy transported, below the radar (at the moment) but moments like this can bring the wrong type of attention of Governments and their revenue services......yesterdays auction prices may be quite funny in a few years time... corrections and changes are due especially when eg the eventual quantitative easing in EU slows down and begins to bite especially for countries like Italy and bond holders everywhere start running for cover................... will it be as in the past the ordinary taxpayer, home owners and their pension schemes that will eventually pay for the current excesses,like they did in 2008...I suppose the real trick in any investment market is knowing when to jump and how high

Time will tell literally.

regards

John


 
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watchyouwant
(Login watchyouwant)
VRF Member
1.43.60.57

things are shifting..... the stockmarket creeps higher, but very low....

October 27 2017, 5:53 AM 

volumes. rational thinking has been replaced by hopes of whatever .....tax cuts....higher profits by health care companies due to micky mouse health plans for the low income earners.... aso..... there will be a wake up call , as always. but there are still obscene amounts of money floating around.... will be interesting to watch. kind regards. achim

 
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Robbe1675
(Login Robbe1675)
VRF Member
86.90.136.46

amount of floating money grows every day. as does the number of collectors.

October 27 2017, 5:57 AM 

But that still does not explain the ridiculous prices.

As Mark said, best bring all to the auction house and retire.
Or better, invest in houses at A1 locations.


    
This message has been edited by Robbe1675 from IP address 86.90.136.46 on Oct 27, 2017 10:30 AM


 
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_Reborn
(Login _Reborn)
VRF Member
116.15.155.63

It's the price...

October 27 2017, 7:55 AM 

...a museum would pay to keep the watch...



    
This message has been edited by _Reborn from IP address 116.15.155.63 on Oct 27, 2017 7:57 AM


 
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Jean
(Login JohnBasque)
VRF Member
217.15.93.190

There is one key takeaway from this...

October 27 2017, 8:22 AM 

... There are good times and bad times to sell assets. Now is a fantastic time.


 
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Jason (964RS)
(Login 964RS)
VRF Member
81.151.78.28

Now is a fantastic time......

October 27 2017, 1:59 PM 

yes but to do which one?? happy.gif

Only hindsight will tell you if you were right or wrong....and nobody knows until the future has arrived

 
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r88tbeer
(Login r88tbeer)
VRF Member
151.224.119.106

Last night was a good night

October 27 2017, 4:12 PM 

in terms of drama, headlines and excitement.

The watch fetched what it did due to provenance and the fact it was owned by the man who defined the watch.

Compared to art and classic cars the vintage watch market still lags behind.

Whether this trend of growth will continue is still open to question.

Like all asset classes, a correction or slow down is always inevitable after a long sustained period of growth.

Prices have risen at an immense rate over the last 10 years during a period of record low interest rates.

Once interest rates re-adjust and rise I would expect growth to cool off and fall back.

Whether that happens is of no concern to me because I will still continue to buy vintage pieces and as the old saying goes "don't have all your eggs in one basket!"




 
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AuspiciousCat
(Login AuspiciousCat)
110.54.186.145

Any Chance

October 29 2017, 1:57 AM 

it was Rolex themselves that bought the watch? Something like a "relic" or a trophy of what an icon one of their watches could become?
Sorry I'm pretty newb, and this could be a totally dim-witted theory.

 
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Roger
(Premier Login fantastictime)
VRF Managing Director
79.73.137.85

None...

October 30 2017, 4:57 AM 

Rolex have had years of free marketing and now a huge dump of free marketing from this watch.

If they bought it they could never sell it and so it would literally be just a US$17m hole in their funds.

The buyer is probably an American Billionaire who collects amazing stuff happy.gif

 
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*Philip*
(Login greenoyster)
VRF Emeritus
90.87.120.7

"US$17m hole in their funds."

October 30 2017, 6:13 AM 

Roger what is 17$ for a company valued 8 billions? (in comparison UBS is valued 6.1 billions, Morgan Stanley at 1.9)

 
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tomvox1
(Login tomvox1)
VRF Dial Archive Curator
69.112.127.62

Mama mia, you are correct (even a bit conservative)!

October 30 2017, 7:19 AM 

#69 in the world according to Forbes:
https://www.forbes.com/companies/rolex/
Also we need a "like" button for this site. 😄
Best,
T.

 
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Roger
(Premier Login fantastictime)
VRF Managing Director
185.69.145.246

$17m is one hell of a lot of datejusts to sell :) (nt)

October 30 2017, 1:29 PM 



    
This message has been edited by fantastictime from IP address 79.73.137.85 on Oct 30, 2017 2:09 PM


 
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