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Patek Philippe RO 2020

Annually watch manufacturers in Switzerland have an RO. RO is a Run-Off that occurs annually due to the rise of the black market. For example, Watch manufacturers such as Patek Philippe discontinue watch models due to an increase in selling watches on the black market. This phenomenon affected the horology market and shifted the targeted buyers into the new generation of millennials. This aspect made the watch companies move there interest and design into a new way of adapting with the future of the new generation and changing the classic watches into a new unique sport casual casing that can suit all the categories.

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On the 9th of November 2019. Patek Phillipe The Grandmaster Chime refrence 6300A-010 was sold for 31 million dollars making it the most expensive Patek ever made. The price is absurd because it retails at 2 million dollars. In addition, the Patek made 2 million while the 29 million remaning amount was for humanitarian aid. The watch was sold in an Christies’s auction which is one of the most prestigious auctions a person can participate in. For instance, to join the auction a person should meet a requirement and a net worth statement to point the individual’s capability in participation.

What a unique piece which takes 4-6 years in production and movement making. Thus, showing Patek dominance in the watch making industry.