Which watch sold for $31 million?
INTERNATIONAL – A Patek Philippe timepiece sold for $31 million (about R459. Christie’s in Geneva. The absolute floor price for a Patek Philippe is typically found in the vintage quartz-powered ladies’ collection, which can be acquired on the secondary market for as low as $12,000 to $15,000. For a men’s mechanical watch, the floor is around $18,000 for specific vintage Calatrava models.patek philippe watches don’t usually lose value. Many models increase in price over the years. Look at auctions—vintage pateks routinely fetch six or even seven figures. That’s why collectors consider them not just luxury buys, but smart investments.The absolute floor price for a Patek Philippe is typically found in the vintage quartz-powered ladies’ collection, which can be acquired on the secondary market for as low as $12,000 to $15,000. For a men’s mechanical watch, the floor is around $18,000 for specific vintage Calatrava models.There is no such thing as an average income of a Patek Philippe owner. Given the prices of these watches, and the target market of the company, most of the owners are already in the 1% of income range. Once there, it is only a matter of there is never enough.