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When the hammer came down on lot 79 at Christie’s December 14 New York auction, an unassuming Patek Philippe pocket watch with a pre-sale estimate of $40,000 to $60,000 had reached $242,500. The watch, manufactured in 1913, received a Geneva Observatory rating certificate in 1920 and was delivered to its American retailer in 1921. In 1925, it was purchased by American super-collector Henry Graves. The 50mm diameter watch with enamel dial has hours, minutes, subsidiary seconds, and an up-down or power reserve indication.According to Christie’s sale notes, no one knows for sure how many watches Mr. Graves ordered from Patek Philippe, however it is understood that he commissioned approximately 30 timepieces in all. To date there are 15 known watches owned by Mr. Graves, and this piece brings the number to 16. The watch is engraved with the Graves family crest and motto Esse Quam Videri – To Be Rather Than to Seem.A modern Breguet also generated an excellent result. Lot 3
Guess I'm up early today...
Hi All:After years of staying away from watches why did I think I wanted a 5513? Boredom perhaps, but I'm delighted to happen upon Rolex Forum and the generosity of participants in the Vintage Rolex section. Initially, I was surprised to find an AP adjunct and hoped to avoid temptation, but trespass seemed destined as ruin is inevitable. Thanks to bantering here I dove into my sock drawer and dug out my old RM only to have the strap break after a few days. I admit the incident, always in retrospect, was more amusing than embarrassing. While amidst the lyles, argyles and gym socks I found and decided to dust off the old ROO and take a couple of snaps to share herein.Best wishes.RC
Is it an in house movement?
In macroeconomics in college, they teach about supply and demand.As a business, it is your duty to find what is called equilibrium so that your production and demand are such that there is not an over supply which will reduce market value and that you are able to supply enough to meet the market demand so that interest doesn't fade.If one had to choose the best side (lesser of two evils), it is better for a luxury brand to err on the side of reducing supply.You are also taught that if you build something (let's say watches), and those watches cost X amount and your operating costs are Y amount, then if you build one watch, you need to sell that watch for the production cost plus the operating costs plus build in a margin. If you don't do it that way, then you will lose money and your business model will fail.Knowing these things, it is my opinion that due to the recent years reports about Swiss Watch exports trending downward and Richemont and Swatch Group buying back inventory, that
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