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New Record at CHF 31 Million

  1. Pun

    Pun Nov 9, 2019

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    It’s just so amazing for the buyer to just keep in safe, an otherwise unwearable watch!!
     
    Edited Nov 9, 2019
    Mad Dog likes this.
  2. mzinski

    mzinski Nov 9, 2019

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    Maybe someone can enlighten me as to why people are so fascinated with rich people flexing their wealth and moving money around that these records are breathlessly reported. I’m fascinated with the watch itself but that’s about it.
     
    Nathan1967 likes this.
  3. Pun

    Pun Nov 9, 2019

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    The Only Watch auctions are for good cause charity and spending amount on them is a noble gesture indeed.
     
    CJpickup57 and Mtnmansa like this.
  4. mzinski

    mzinski Nov 9, 2019

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    True, I get that. But I can’t help but wonder if donating directly to a charity wouldn’t be a better gesture. If a keepsake and press is important I’m certain high net worth individuals can easily accommodate that. People and corporations donating towards affordable housing is plastered all over American news each time it happens.
    Anyways do we know what percent of the auction is given to the charity?
     
    Nathan1967 likes this.
  5. Mad Dog

    Mad Dog Married to MacGyverette! Nov 9, 2019

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    Walrus and Yak1 like this.
  6. STANDY

    STANDY schizophrenic pizza orderer and watch collector Nov 9, 2019

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    It’s 31 million of a tax deductible :whistling:
    Smart purchase if you owe 100million in tax
     
  7. Deafboy

    Deafboy His Holiness Puer Surdus Nov 9, 2019

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    I wonder how much to service this guy...

    [​IMG]
    [​IMG]

    [​IMG]
     
    mmpass, Cozmopak, JimJupiter and 3 others like this.
  8. Canuck

    Canuck Nov 9, 2019

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    I shudder to think! Probably more than my net worth.
     
    kip595 likes this.
  9. Deafboy

    Deafboy His Holiness Puer Surdus Nov 9, 2019

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    Hey @Mad Dog, you took the course last year: are you up to it? Or maybe your daughter?
     
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  10. Deafboy

    Deafboy His Holiness Puer Surdus Nov 9, 2019

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    I imagine the poor PP technician receive this watch on his workbench for service.
     
    Njnjcfp88 and Pun like this.
  11. STANDY

    STANDY schizophrenic pizza orderer and watch collector Nov 9, 2019

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    Good to see the year will go up to 9999
     
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  12. Evitzee

    Evitzee Nov 9, 2019

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    One must always be wary and question these out-of-the-park prices at auction, they often aren't what they seem. You don't know who the winning bidder is (an individual, a consortium, an insider), was it partly underwritten by Patek Philippe (it's good advertising and they have a history of doing this), was financing provided by Christies to ensure a good price (that's been done, too)? There are lots of moving parts to these sorts of auctions and plenty of room for manipulation and other shenanigans. Perhaps it's a very wealthy individual that has that kind of money to spend on a watch for charity, or maybe not. But we will probably never find out the back story on this auction.
     
    SwissZ and Pun like this.
  13. Canuck

    Canuck Nov 9, 2019

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    From the sound if it, @Mad Dog has lots of time. But would he have enough time to do a project like that? If Patek has someone capable of servicing that watch, I wonder how much time would be involved to do it.
     
    Mad Dog likes this.
  14. Deafboy

    Deafboy His Holiness Puer Surdus Nov 9, 2019

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    Geez, who needs to look at his watch to know the year...
     
    Edited Nov 9, 2019
  15. Evitzee

    Evitzee Nov 9, 2019

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    Patek Philippe has people who designed and built the watch, they certainly have the necessary technicians to service it. Watches like this rarely get used, they are show pieces, they rarely get serviced. The Graves Supercomplication, finished in 1932, went 40+ years before it was ever serviced by Patek Philippe, and then it went many more years before being touched again. Watches like this spend 99+% of the time in some dark safe, unseen and unused by the owner.
     
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  16. Mad Dog

    Mad Dog Married to MacGyverette! Nov 9, 2019

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    5FA1351E-1A98-4924-B039-DA702F219E94.jpeg
     
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  17. Pun

    Pun Nov 9, 2019

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    100%. Auction house also won’t charge commission as its charity auction. The buyer may have to pay tax as per his country’s tax policy. This is what I gather from internet.
     
    mzinski likes this.
  18. JimInOz

    JimInOz "Helpful Hints from Heloise" of bracelet cleaning. Nov 9, 2019

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    I don't think the buyer can claim a deduction, they purchased something, they didn't make a charitable donation.

    (I think the auction house is actually making the donation).
     
    wristpirate and DaveK like this.
  19. dsio

    dsio Ash @ ΩF Staff Member Nov 9, 2019

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    Given the charity outcome this is definitely the kind of bidding war I can get behind, I'm sure it has to have been two or more guys who wanted a cool watch, with an amazing story to go with it and were happy to make that donation to the cause regardless.
     
  20. mzinski

    mzinski Nov 9, 2019

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    In that case, great!
    Thanks for getting me off my miserly high horse ::shy::
     
    Pun likes this.