Recent conversations with a world-class collector – he’s partial to Patek Philippe minute repeaters and “perp cals” – reminded both of us of how even the great auction houses can find themselves in tricky situations. We also swapped tales of houses reluctant to pay.
I recalled how a mutual friend of ours had bid successfully for a Girard-Perregaux “Three Bridges” tourbillon. Three months later, Interpol was banging on his door: the watch was stolen. Luckily, and in no small part because our mutual friend is notoriously litigious, AND because Interpol was involved, he recouped his £75,000.