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It follows the Patek phenomina..
In Response To: Interesting Article in Today's Wall Street Journal ()

In 1989 they hosted a Patek Philipe (brand only) auction where even new watches went for 3 x and 4 x times their retail price. This allowed Patek to 'up' their prices accordingly.

This I believe has become a legitimised marketing tool ever since.

They are proposing Rolex next year although un confirmed.

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