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Re: An Odd Bit of Investment Advice from Christie's ? ? ?

For the conspiratorial, it may appear as payback for the criticism Christies received from the Heuer community... -

: Well, this seems a bit odd to me . . .

: Current issue of Forbes magazine has John Reardon, of head of
: watches at Christie's, offering his buy / hold / sell
: recommendations for watch investments.

: Buy? Rolexes selling at under $10,000, for example, the GMT Master
: II model . . . well that seems reasonable. Not the most daring
: or unusual investment advice, but maybe that's what you get in a
: $5.99 magazine.

: Hold? 1950s Patek Philippe watches with Cloisonne Enamel dials
: (valued in $500,000 range and up) . . . some excellent advice
: for all the Forbes readers who happen to have these watches in
: their portfolios. Yes, continue to hold these watches. Don't
: load up on them, and don't sell them, but continue to hold them.
: Yes, will do!!

: Sell? Vintage Heuers!! Because speculators have driven prices to
: record highs of $100,000, so you should sell now, before the
: bubble bursts.

: Regarding the Heuers, I had to wonder whether Mr. Reardon might
: have written this column 18 months ago, with it being delayed in
: the mail since then? I mean, Summer 2017 was probably the high
: water mark for the vintage Heuers (say, the June 2017 Christie's
: auction in New York City), and the market has corrected / slid
: since then.

: Is he really suggesting that people who own the Heuers should sell
: now, after the correction? I thought that we are supposed to buy
: when prices are low and sell when they are high? Or are we
: supposed to bail out, when prices are down?

: This was puzzling to me . . . How do others see it?

: Jeff



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