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The One Percent.
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Luxury collectibles are now the second-largest revenue stream at Christie’s and Sotheby’s. The houses are not selling watches for the margin, they are buying a client relationship at twenty-five to consign a painting at fifty.
The global market for luxury watches reached another defining moment as Phillips established a new record for the highest grossing watch auction ever held in the United States.
The New York Watch Auction XIV generated an extraordinary $75.8 million across two days, reflecting the enduring appetite among elite collectors for exceptional horological masterpieces.
