Looters invaded Chicago’s upscale “Magnificent Mile” last night, as nominal protesters responded to a police-involved shooting. blockclubchicago.com reports that Saks Fifth Avenue, Nordstrom, Gucci, Nordstrom Rack, Timberland, Burberry, Ferragamo, TJ Maxx, Macy’s, Walgreens, Best Buy and a 7-Eleven were ransacked. Watch store looters? There are four major watch sellers in the Mag Mile, and more than a few jewelers . . .
Coronageddon whacked the watch industry but good. The economic downturn’s ongoing effects are dire, especially at the luxury end of the market. The Richemont group – owners of high end horology crown jewels like A. Lange & Söhne, Vacheron, IWC and Jaeger-leCoultre – is joining its customers in the pandemic practice known as “revenge saving.” Richemont chairman Johann Rupert’s Friday afternoon statement:
After being caught with their proverbial pants down selling Seiko “Frankenwatches,” Bonhams Seiko sale is back on. The auction house now says it never cancelled the event – just pulled it temporarily to “upload the condition reports accompanying each lot.” Note: “upload” not update. Here’s the full statement:
I’ve bought anachronistic items like the GEORGE pocket watch before. My intent: to be a “fedora” (a.k.a., a pretentious, attention-seeking ass). And then I found myself developing a deep appreciation for the sensibility of bygone accoutrements. And became even more annoying as a true believer zealously trying to convert others that the seemingly obsolete is, in fact, superior to the modern . . .
Continue reading “Bonhams Seiko Auction Cancelled Over Fakes”