May Geneva auctions: neither bargain nor fireworks
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Healthy market correction with the elimination of the speculators/flippers that were swarming over the past couple of years. However, the “Gem-set for Jet-set” spirit of important collectors is still very much alive. These guys are a very different audience than the flippers. Performances illustrated the ability of auction houses to address the most dynamic population of collectors in this troubled macro-economic period namely Middle East and American collectors. No crisis for these guys which pushed to 25 (+150% vs the 10 in May!) the number of watches sold above the 1m CHF mark.