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

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?


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