The Luxe Dispatch

A Patek Breaks Auction Records, the Return of Auction Napa Valley, Ferrari’s New EV & More

Record-setting watches and palace hotels; collectible handbags; gem-set tourbillons; Ferrari’s first EV; and Saudi’s rise as luxury’s newest playground.
22 hours ago
A Patek Philippe Grand Complications Ref. 5016P-018, circa 2010, in platinum with minute repeater, perpetual calendar, tourbillon, retrograde date, moon phases, and leap year indication. Sold at HK$8,894,000 (US$1,134,000) Photo: Christie’s

Luxury had a busy week polishing its many mirrors. Patek Philippe complications changed hands in Hong Kong, six French hotels ascended to palace status, and Christie's formally elevated the handbag to collectible. Elsewhere: Richard Mille drapes tourbillons in 1,400 gems apiece, Ferrari's first EV arrives with five seats and 1,035 horsepower, and the Red Sea begins its slow conversion into the industry's next gilded frontier. Bonhams Hong Kong Sets House Record at May Watch Sale Bonhams Hong Kong wrapped its Watches: Rare and Iconic Horological Legends sale on May 31 with a new house record, totaling HK$41 million on a 98 percent sell-through rate. A Patek Philippe Grand Complications Ref. 5016P-018, circa 2010, led the room at HK$8.894 million, setting a world auction record for the reference. Independent watchmaking held its own, with Maîtres du Temps, Romain Gauthier, and Greubel Forsey among the stronger performers. France Adds Six Properties to..

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