![]() In fact, Sotheby's held an Important Watches live auction last Tuesday that brought in $10.4 million - up 27% from last year - with a Patek Philippe Ref 2499 retailed by Tiffany & Co. Signs of this trend were seen as early as April when GQ's Cam Wolf noted that Sotheby's had been selling more classic watches, even as major brands called off their plans to release new models. Amid the uncertainty of the pandemic, high-net-worth-individuals have continued to buy pricey watches. The shindig's environment (and the young crowd it drew) was proof positive that people still love luxury watches - and love splashing out major cash on them. A rare Tiffany blue Rolex was situated not far from a Patek Philippe, and diamonds - lots of diamonds - lined the back walls of the room. Jamie Foxx was the host, while Moët & Chandon was passed around appetizers that included both caviar and chicken wings were served on small dishes. It was a Wednesday night in February when Insider first met Avi Hiaeve at his luxury watch party in New York City's Midtown Manhattan. Visit Business Insider's homepage for more stories.For example, the Sotheby's Important Watches live auction concluded on December 15 and brought in $10.4 million - up 27% from last year - with a Patek Philippe Ref 2499 retailed by Tiffany & Co.That statement was proven true amid the pandemic, where high-net-worth-individuals have continued to splurge on luxury watches and items.To sum it up: The people who want a Rolex will always buy one. Hiaeve said it's impossible to be priced out of the watch game because there's a watch at every price point for everyone. ![]() As previously reported by Inside r, most people look to the secondhand market to buy their timepieces, and vintage watches pretty much dominate the sector.Hiaeve said those looking to enter the watch investing game should look out for four names: Rolex, Audemars Piguet, Patek Philippe, and Richard Mille.Avi Hiaeve, a millennial who owns the high-end watch retailer Avi & Co., spoke with Insider about the value of investing in luxury watches.Account icon An icon in the shape of a person's head and shoulders.
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