Well, today December 11th, 2021 in New York City, this new Patek Nautilus Tiffany 170th Anniversary ref. 5711/1A-018 just sold for $6.5 million USD at Phillips. The world of watch collecting has finally just lost its sanity. I can only think that some of the reasons behind these prices in the watch market have to do with money-laundering schemes, tax write-offs through charitable contributions, using watches as money instruments to transport funds between countries without the need to report them and/or some people who made so much money through crypto-currencies that simply don’t care anymore and would pay anything to have what they want.
Posts tagged #Patek Philippe Nautilus Tiffany 170th Anniversary
From the Editor: The 'Hyped' Patek Nautilus 5711 Tiffany 170th Anniversary and My Thoughts on Double-Signed Watches
In the last decade, double-signed watches have become a thing and are now some of the most coveted timepieces out there. When I look back at auction results from twenty or thirty years ago —yes I have some very old catalogs in my possession—, these double-signed watches were not priced like they are today. Commanding a high premium when compared to models that don’t include the name of a famous retailer on their dials, double-signed timepieces have simply skyrocketed.
