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Peak Patek: This Watch Is Set To Sell For Record $15 Million Today In Geneva
Just 24 hours before "the most important watch in the world" goes up for auction in Geneva today, the owner - 48-year-old Sheikh Saud bin Mohammed Al-Thani of Qatar has died suddenly; somewhat ironically confirming that "you never actually own a Patek Philippe, you merely look after it for the next generation." Though, it appears, in this case, as Hodinkee reports, the sale of Henry Graves Jr. Patek Philippe Supercomplication - which is expected to sell for in excess of $15 million today - was due to the Sheikh running into financial difficulties.
In absolutely fascinating news out of Qatar, the owner of the Henry Graves Jr. Patek Philippe Supercomplication, expected to sell for in excess of $15,000,000 tomorrow in Geneva, has died unexpectedly.
Its owner since 1999 when purchased at Sotheby's for $11,000,000, Sheikh Saud bin Mohammed Al-Thani of Qatar passed away at his home yesterday, Sunday November 9th. Al-Thani was only 48 years old, and the official cause of death has not been released.
Al-Thani was a world-class collector of art, cars, watches, natural history, and well, just about everything. That is until he ran into financial difficulties and several of his pieces were put on the auction block.
* * *
The Henry Graves Supercomplication by Patek Philippe is, according to Sotheby's, the most important watch in the world.
First commissioned in 1925, the Supercomplication has an astounding 24 complications, making it the most complicated watch ever made by any watchmaker without the aid of computer technology.
* * *
So is this Peak Patek, when even the oil-money is forced to sell assets?
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Sure that Patek is not a Chinese rep?
you can never be sure about anything, but from the picture it looks real ... at least to me, and if i might add I am not an authority by any means, as a matter of fact today heard patek for the first time.... so, an internet authority so to speak ...no wonder Obama wants to regulate the internet, imagine what would have happened should the sheik take my word for it ...
seriously though...who the fuck pays 15mil for a fuckin' watch ...my $53.95 solar-powered Casio G-Shock will kick that thing's ass up&down all day long !
As a staunch liberal, I will patiently wait until we're all given an ObamaPatek. Because Patek Philippe is a human right.
Peak "Get Every Ass In A Subprime Auto Loan' bitchez. Read this:
http://carbuying.jalopnik.com/this-is-why-record-car-sales-might-be-a-ba...
"I bought a new 2014 Chevy Sonic in March of this year and the payments are getting a bit tough for me to make every month," a reader told me in an email. Here's the scary part: "I owe about $8,000 more than the car is worth. What should I do?"
This reader contacted me because I wrote a post about what do to when you are under-water on your loan. What I did not anticipate was someone being $8,000 underwater on a new car loan! I knew the Sonics depreciate fairly quickly, but there was no way it could drop that much in such a short amount of time.
So I asked the reader how much they paid for the car and what their payments were.
When I bought it the car was for $17,890 but I financed $24,350. I've been making payments on it since April for the amount of $383.
Right now most of you are asking, "How does one buy an $18,000 car but get financed for more than $24,000?"
Some dealerships are going to get you financed for as much as they can so they can add on a bunch of up-charges, or "payment pack," your loan. That means more money for them.
In this case I imagine the buyer put no money down, so they had to finance the tax title and tag fees. Then the dealer probably talked them into some extended warranty or service plan. All of this combined makes them underwater before they even drive off the lot.
Every month we get rosy reports of record-breaking new car sales numbers from automakers. What happened to this Sonic buyer is one of many ugly stories behind those glowing numbers.
According to a recent Detroit Free Press article, most experts are concerned with the growth of car buyers that are taking on longer loans and the increase in the number of leases. Cheap loans and record sub-prime credit approval means that more buyers are risking being underwater on their car loans.
"The longer the car loan, the longer it takes to build equity, said Gerri Detweiler, director of consumer education at Credit.com. "If you need to get rid of the car you may find yourself having to write a check just to get rid of it. Or even worse, you may be stuck in a scenario where you roll over that balance into another new vehicle loan" possibly at a higher interest rate.
But the concern should go beyond just longer loans and higher interest, the more buyers that enter the marketplace that may have been shut-out due to stricter lending the more people that get taken for a ride by stealerships who can smell someone that doesn't know math a mile a way.
When I get emails from one reader who is $8,000 underwater on a brand new $18,000 car or a note from another person who makes less than $900/mo who wants to finance a car for $250/mo...I get a little worried.
We've already seen what happens to an economy when too much credit is handed out too freely to buyers who shouldn't be receiving it and can't handle the payments. Even in the midst of a recovering economy and booming car sales for automakers, it seems too many people — and too many lenders — are eager to repeat the mistakes of just a few years ago.
----
Listen, bitches. People buying vehicles now are, with few exceptions, dipshits.
Fire sale on new vehicles, stacked high & deep, soon.
Wear that magnificient thing around your neck like Flavor Flav, yo!
That freakin' watch actually ended up selling for 24 Million.
Pawnbroker: I'll give you 50 bucks for it.
Louis Winthorpe III: Fifty bucks? No, no, no. This is a Rouchefoucauld. The thinnest water-resistant watch in the world. Singularly unique, sculptured in design, hand-crafted in Switzerland, and water resistant to three atmospheres. This is *the* sports watch of the '80s. Six thousand, nine hundred and fifty five dollars retail!
Pawnbroker: You got a receipt?
Louis Winthorpe III: Look, it tells time simultaneously in Monte Carlo, Beverly Hills, London, Paris, Rome, and Gstaad.
Pawnbroker: In Philadelphia, it's worth 50 bucks.
I can only hope that this is how it ends up for the asshat that bought the watch
That's exactly right, Liberal! Owning a Patek Philippe is a human right! When do I get mine?
Owning an Obamobile, or being indebted for one, being a 3 cylinder Chevy Sonic for 24,000 Yellens, on a waitress income of 900 Yellens a month, is a basic human right.
Wait until Mel Watts gets his way @ FHA.
Obamaville v2.0 here we come!
That is one beautiful time-piece and worth everything anyone will pay for it.
Everything's worth whatever anyone will pay for it.
IDK, have you seen an image of the inside of this thing? I grudgingly admit it is probably worth $15M. Probably cost a team of engineers their sanity.
Still a meh-to-shitty investment back in 1999 at $11MM if they're expecting $15-20MM for it today.
A fascinating and beautiful machine though.
This watch tells you the time when change is comming.
Is it waterproof?
I have a very cool G-Shock I paid $130 for that has a bunch of complications too. In fact it's so friggin complicated I dare not touch any button on it other than the nite light. If there's ever an EMP and my watch happens to be the only Quartz to survive it, I'll let it go for $16 million to the midget running the pig shit power plant. Eat your mechanized heart out Philippe.
Ps. That is one big ass pocket watch, man. What did he do carry it around his neck with a flashlight in his pocket?
Taliban Casio G-Shock tells better time. I(CIA)SIL prefers Timex IronMan.
Timex ironman is also the preferred presidential watch prior to O, both Clinton and Bush wore them. Maybe it's a code.
Drift on the ironman isn't too bad, mine run about 2-4 seconds a month.
Pshhh. Whatever. I've got like three or four of those.
And because I have an english accent, it means it's worth lots and lots of money.
How much would it be worth, if they used the voice of a coal miner from virginia?
I bet it'd be worth a LOT more than your English accent, if it were owned by a Coalminer's Daughter.
Piece of garbage and they call it a watch? That thing is even thicker and bigger than my cell phone and my cell phone has more functionality than that shit. Who is going to bring that watch with them all the time? Won't even fit in my pocket.
Who needs to know what time it is when you've got ZIRP?
https://www.youtube.com/watch?v=_Kn1LDeJuqU
The FED can print a 25 complications watch to outdo it
You make a billion and spend 2 billion, you're still in debt.
That's exactly what I told my wife!
I wonder what kinds of financial difficulty Sheikh Al-Thani, boss of rich Qatar, could have gotten into?
EDIT:
Patek Philippe watches are among the best "investment watches" to buy. They are collected by watch fanatics (with $$$) the world over.
If investing in watches, be wary of pirates and kids with mallets.
https://www.youtube.com/watch?feature=player_detailpage&v=CkDMX1NKM3I#t=50
No kidding. The real story is that a 48 yr old billionaire dropped dead and 2 days later they're already selling his stuff(?!)
Steve Cohen is making a bid of $20million for this piece. But Melissa Gates will outbid him at $22million because she needs a good Christmas present for Bill.
Steve Ballmer is bidding 2 billion.
Long Er Won, the uber wealthy RE developer from Tu Hi Ho near Shanghai will prob grab it I bet.
How many millions will the watch that the Head of ISIS flaunted go for?
If your money has been legally stolen from the hoi polloi, you can afford every extravagance. Besides, if you fall below a billion, you can always steal more.
Osama bin Laden's dialysis machine would also go for millions, if only he had one.
I want one... and I want to pay $100 American dollars for it.
The second most important watch in the world. The reviews are a must read.
http://www.amazon.com/Zenith-96-0529-4035-Tourbillon-Titanium-Chronograp...
That looks like a nice watch. Appears to have one of those rubber wristbands too. They are great when you are working in the yard and your wrist gets caught on something. They have give. Well worth the price in my opinion.
WHy do I feel like keeping one eye open for these Saudi yard sales?
Interesting watch made in 1933. Pretty impressive historically and technologically. I'd prefer to have a Calatrava at the end of the day.
I'm not greedy I'd settle for a Blancpain Fifty Fathoms.
This is what happens when you try to keep up with the Jones's. Nothing worse than a cabal member dropping under a $billion in wealth. . .
All my Hip-Hop Twitter friends said Breitling watches.
Ha ha yeah
Bringing a Breitling to a Patek show is like Charlie Sheen taking his whores to a Cate Blanchett Oscars after party
"the sale of Henry Graves Jr. Patek Philippe Supercomplication - which is expected to sell for in excess of $15 million today - was due to the Sheikh running into financial difficulties."...
See what shooting yourself in the foot does when you force a drop in the WTI and Brent?!!!
If that watch came from anyone else it probably would sell at some high end jewelry shop in London, Paris or Manhattan for 1/30 of that!...
Wonder if the smelliest of Zionist Yids in Manhattan will purchase it from the smelliest of Wahabi tent dwelling excrement in Riyadh?!!!
After all it's best to keep jewelry "in the family"!
Interesting that Al-Thani dies "unexpectedly " right after Qutar,, a member of OPEC,signed a currancy swap with China. Who cudda knowd?
It might have served him well to consult with Hussein and Khadafi about that whole "we don't need no more stinking dollars' idea.
He was also bankrolling major headaches for Putins favorite Alawite camel jockey and trying to torpedo Gazprom European market share.
Lots of motive to want to him dead.
seriously, who dies at 48? you'd think w/ all the money and loot he'd be able to buy himself the best medical care in the world... well, at least until the CIA/KGB got to him w/ their poison pens.
0.1% 'Winning'!
Is that batteries included ?
No. It comes with a lifetime supply of Elbow grease.
weird. my grand pappy left me one just like it. /s
Sothbys.
The Qatari's E-bay.
And another thing...
He's dead. No more financial difficulties. The lucky bastard got his 72 virgins while he was alive. No sloppy seconds when you're that rich.
Nope, don't want it. It doesn't have luminous dials. Need steam powered auton wind.
Does it do quantum entanglement. I want to run the hands back a few years.
"Nice watch sir. Just one question though..."
"What's the time? Time to get ill!!!"
https://www.youtube.com/watch?v=5KRYwYnC5cg
An American, not US subject.
"Sheikh Saud bin Mohammed Al-Thani of Qatar passed away at his home yesterday, Sunday November 9th. Al-Thani was only 48 years old, and the official cause of death has not been released."
"According to unconfirmed reports, though, Al-Thani failed to take his heart medication at the proper time, as his Patek Philippe was running several minutes slow."
Cause = Assisted Suicide
Motive = Signing currency swap with China. You just KNOW this will be revoked.
I'll bet he's not asking "Does anybody know what time it is?"
Does anybody care, about time? Is it 6 to 4 yet?
25 or 6 to 4. 25 or 26 minutes until 4 o'clock. So it would be 3:34 or 3:35am. Just FYI. One of those funny lyrics.
Ticking away the moments that make up a dull day
You fritter and waste the hours in an offhand way.
Kicking around on a piece of ground in your home town
Waiting for someone or something to show you the way.
Tired of lying in the sunshine staying home to watch the rain.
You are young and life is long and there is time to kill today.
And then one day you find ten years have got behind you.
No one told you when to run, you missed the starting gun.
So you run and you run to catch up with the sun but it's sinking
Racing around to come up behind you again.
The sun is the same in a relative way but you're older,
Shorter of breath and one day closer to death.
Every year is getting shorter; never seem to find the time.
Plans that either come to naught or half a page of scribbled lines
Hanging on in quiet desperation is the English way
The time is gone, the song is over,
Thought I'd something more to say.
Breathe....breathe in the air!
How can a 48 year old, previously super wealthy person, just suddenly die?
Was it the shock of not being super wealthy any longer?
London and New York are no longer a safe places for those fighting the Fed.
Once widely regarded as the world's richest and most powerful art collector, Sheikh Saud bin Mohammed Al-Thani of Qatar died suddenly at his home in London on November 9, age 48. Details of his death have not been announced, although initial reports say it was from natural causes.
He also spent well over $1 billion on art purchases during that period, more than any other individual, according to many art-market observers. Qatar's royal family is known for its prodigious collecting habits, ranging from ancient manuscripts to contemporary art. He was also a major collector of vintage cars, bicycles, antique furniture, and Chinese antiquities. You know -- things that are a better store of value than FRN/USD Notes, and more interesting to look at than gold bricks.
The message could not be clearer: "If you mess with the Redshields and their Agents, you're dead meat". Now about that Qatari "Currency Swap" with China...
Turned out to be an excellent investment. He paid $11mil and will get probably $15mil. Can't complain about that. He DEFINITELY can't complain about that.
My Timex is still ticking.
When does his nail gun hit the Auction block? Age 48 is pretty young to have your ticket punched.
The Supercomplication, made by Patek Philippe in 1932, has 24 extra features including Westminster chimes, a perpetual calendar, sunrise and sunset times, and a celestial map of New York as seen from Graves's apartment on Fifth Avenue.
PS Henry Graves was a banker....
But now he's on Tour, doing his Great Gig in the Sky.
In Philly its worth 50$.
That'sthe funniest quip i've seen all day! +1
In Africa they say say: "You have the clock. We have the time".
A top-end watch - mechanical of course, no silly batteries - is equivalent to GOLD as an investment: it represents real non-machine-made human ingenuity and labor in the same way the yellow metal can only be obtained through the laborious and expensive process of prospecting, proving reserves, opening a mine and producing gold.
beautifully said "real non-machine-made human ingenuity and labor."
Bah - that nothing compared to my Kongotronic 3000 TIME DEFENDER Robot Clock
http://www.thingiverse.com/thing:38444
does the watch at least come with a blowjob?
I would imagine if you show it off to the right (wrong) kind of woman, that would happen.
Funny
I ask the same thing everytime I pay a bridge or turnpike toll
When the new owners are coming
What did the caretakers do with the assets ?
See
https://www.academia.edu/9247204/Be_Your_Own_Owner
or
http://andreswhy.blogspot.com/2014/11/be-your-own-owner.html
Sheikh Saud bin Mohammed Al-Thani ran out of time.
(I'll get me coat)
This is an important sale because of the various signals - he paid 10m, the auction house wants 15m, what if the bid is 8m?
Dead at 48? I guess his time was up.
What time is it?
that is one beautiful pocket watch, surprised by how big it is.
So another Dipshit will buy a watch.... Who cares ???
I would rather buy 15 watches at $1 million a piece bitchezz!
This watch must have ability to communicate with the fifth dimension in Morse via its seconds hand
Well it brought $24mm!!!!!!!
DaddyO