New Record at CHF 31 Million

Pun
Posts
1,931
Likes
8,466
It’s just so amazing for the buyer to just keep in safe, an otherwise unwearable watch!!
Edited:
 
mzinski
Posts
487
Likes
1,718
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.
 
Pun
Posts
1,931
Likes
8,466
The Only Watch auctions are for good cause charity and spending amount on them is a noble gesture indeed.
 
mzinski
Posts
487
Likes
1,718
Pun Pun
The Only Watch auctions are for good cause charity and spending amount on them is a noble gesture indeed.
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?
 
STANDY
Posts
16,853
Likes
47,844
It’s 31 million of a tax deductible 😗
Smart purchase if you owe 100million in tax
 
Deafboy
Posts
2,399
Likes
6,935
I wonder how much to service this guy...

5175_cal_300_quad_560.jpg
3b-Most-Expensive-Watches-in-the-World-Patek-Philippe-Grandmaster-Chime.jpg

5175_complications_560.jpg
 
Canuck
Posts
15,188
Likes
44,618
I shudder to think! Probably more than my net worth.
 
Deafboy
Posts
2,399
Likes
6,935
Deafboy Deafboy
I wonder how much to service this guy...

Hey @Mad Dog, you took the course last year: are you up to it? Or maybe your daughter?
 
Deafboy
Posts
2,399
Likes
6,935
Canuck Canuck
I shudder to think! Probably more than my net worth.

I imagine the poor PP technician receive this watch on his workbench for service.
 
STANDY
Posts
16,853
Likes
47,844
Good to see the year will go up to 9999
 
Evitzee
Posts
7,519
Likes
13,895
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.
 
Canuck
Posts
15,188
Likes
44,618
Deafboy Deafboy
Hey @Mad Dog, you took the course last year: are you up to it? Or maybe your daughter?

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.
 
Deafboy
Posts
2,399
Likes
6,935
STANDY STANDY
Good to see the year will go up to 9999

Geez, who needs to look at his watch to know the year...
Edited:
 
Evitzee
Posts
7,519
Likes
13,895
Canuck Canuck
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.
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.
 
Pun
Posts
1,931
Likes
8,466
mzinski mzinski
Anyways do we know what percent of the auction is given to the charity?
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.
 
JimInOz
Posts
17,465
Likes
36,611
STANDY STANDY
It’s 31 million of a tax deductible 😗
Smart purchase if you owe 100million in tax


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).
 
dsio
Posts
33,160
Likes
37,894
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.
 
mzinski
Posts
487
Likes
1,718
Pun Pun
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.
In that case, great!
Thanks for getting me off my miserly high horse 😟
 
11 More Posts...
Sign up or log in to reply...