New York City hosted the year end watch auctions for many of the major auction houses. The auctions showed an interested array of results. Everything from record-setting results for watches like the F. P. Journe’s Tourbillon Souverain in platinum with a rose-gold dial that sold for $1.24 million, but also Audemars Piguet Royal Oaks that sold for below their retail price. Is the hype over? Or are collectors getting back to basics?

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