News Archives

: Category: News Archives; Created: 09 May 2021; Hits: 630

May 09, 21 by

(IDEX Online) - One of the world's rarest watches, a Patek Philippe Reference 2523 with Eurasian Dial, sold at auction yesterday for a record $7.8m.

Nine telephone bidders battled it out for the newly-discovered timepiece (pictured), one of just three known to exist globally. The buyer remains anonymous.

The watch fetched more than double its $3.7m estimate at the Geneva Watch Auction, held by Phillips, in association with the specialist auction house Bacs & Russo.

It set records for highest price for a Patek Philippe Worldtime two-crown wristwatch with cloisonnÃ© enamel dial, and for the highest price ever paid for a yellow gold wristwach sold at auction.

"This result demonstrates the appetite across the international market for uber-rare museum quality watches," said the auction houses in a statement.

The Patek Philippe Reference 2523 was launched in 1953. There are only two other known examples with the European and Asian landmass depicted on the watch's cloisonne enamel dial in marine blue, gold, green, and turquoise, rather than North America (five watches) or South America (three watches). ...

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: Category: News Archives; Created: 07 May 2021; Hits: 490

Money manager Eric Hickman is a number-cruncher who’s also a student of history. And looking at the past 100 years of market data, he’s forced to conclude that the stock market is due for a whopper of a correction — one that could happen at any moment…

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: Category: News Archives; Created: 07 May 2021; Hits: 387

There's not many of us in the transitory camp, but add economist David Rosenberg to the list.

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: Category: News Archives; Created: 07 May 2021; Hits: 551

The Fed’s total assets on its balance sheet for the week through Wednesday, May 5, fell by $10 billion from the prior week and by $40 billion from the record two weeks earlier, to $7.77 trillion. Over the 14 months since the crazy money-printing show has started, the Fed has piled $3.53 trillion in assets on top of its existing mountain.

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: Category: News Archives; Created: 06 May 2021; Hits: 524

If we consider that silver was priced at $4.20 in late 2001, a 37x return would take it to about $155. However, I think this bull market could be an order of magnitude larger for a number of reasons, the main ones being debt, credit and money printing. As a result, I think silver's ultimate peak could be $300, and I won't rule out possibly even higher.

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Diamond News Archives

"Uber-Rare" Patek Philippe Watch Sells for Record $7.8m

Stocks Will Drop in Half, History Indicates

Add David Rosenberg to List of Those Who Believe Inflation is Transitory

Fed’s QE: Total Assets $7.8 Trillion, More Than Doubled in 18 Months Since Repo Market Blowout

Is Silver Going to $300?