Watch Collectors Cash In As Phillips Geneva Auction Totals $46 Million
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,638,545 (+0.82%)       Melbourne $1,023,679 (+1.75%)       Brisbane $1,038,818 (+0.18%)       Adelaide $951,068 (+0.69%)       Perth $923,390 (-0.21%)       Hobart $759,192 (-0.42%)       Darwin $769,355 (-0.10%)       Canberra $964,485 (-0.83%)       National $1,074,245 (+0.50%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $777,604 (+1.00%)       Melbourne $478,404 (+0.18%)       Brisbane $668,589 (+0.89%)       Adelaide $498,047 (-0.58%)       Perth $519,492 (+1.90%)       Hobart $528,197 (-0.03%)       Darwin $378,865 (-1.17%)       Canberra $494,950 (+0.08%)       National $567,655 (+0.60%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 11,855 (+190)       Melbourne 14,114 (-991)       Brisbane 8,271 (+242)       Adelaide 2,797 (+147)       Perth 7,549 (+147)       Hobart 1,213 (+7)       Darwin 181 (-4)       Canberra 1,228 (+25)       National 47,208 (-237)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 9,100 (+118)       Melbourne 6,842 (-31)       Brisbane 1,703 (+24)       Adelaide 418 (+32)       Perth 1,696 (+19)       Hobart 245 (+15)       Darwin 279 (+8)       Canberra 1,140 (-4)       National 21,423 (+181)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $800 ($0)       Melbourne $590 ($0)       Brisbane $650 ($0)       Adelaide $620 ($0)       Perth $695 (-$5)       Hobart $555 (-$15)       Darwin $780 (+$20)       Canberra $700 ($0)       National $684 (+$1)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $750 ($0)       Melbourne $600 ($0)       Brisbane $650 (+$5)       Adelaide $525 (+$25)       Perth $650 ($0)       Hobart $480 (-$13)       Darwin $570 (+$5)       Canberra $570 (-$10)       National $610 (+$1)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 6,415 (-92)       Melbourne 8,122 (-49)       Brisbane 4,023 (-50)       Adelaide 1,424 (-45)       Perth 2,128 (-99)       Hobart 232 (+21)       Darwin 103 (-17)       Canberra 559 (-41)       National 23,006 (-372)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 9,115 (-492)       Melbourne 6,656 (-238)       Brisbane 2,047 (-142)       Adelaide 349 (-56)       Perth 639 (-48)       Hobart 107 (+5)       Darwin 178 (-21)       Canberra 550 (-3)       National 19,641 (-995)                HOUSE ANNUAL GROSS YIELDS AND TREND         Sydney 2.54% (↓)       Melbourne 3.00% (↓)       Brisbane 3.25% (↓)       Adelaide 3.39% (↓)       Perth 3.91% (↓)       Hobart 3.80% (↓)     Darwin 5.27% (↑)      Canberra 3.77% (↑)        National 3.31% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.02% (↓)       Melbourne 6.52% (↓)       Brisbane 5.06% (↓)     Adelaide 5.48% (↑)        Perth 6.51% (↓)       Hobart 4.73% (↓)     Darwin 7.82% (↑)        Canberra 5.99% (↓)       National 5.58% (↓)            HOUSE RENTAL VACANCY RATES AND TREND       Sydney 2.0% (↑)      Melbourne 1.9% (↑)      Brisbane 1.4% (↑)      Adelaide 1.3% (↑)      Perth 1.2% (↑)      Hobart 1.0% (↑)      Darwin 1.6% (↑)      Canberra 2.7% (↑)      National 1.7% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 2.4% (↑)      Melbourne 3.8% (↑)      Brisbane 2.0% (↑)      Adelaide 1.1% (↑)      Perth 0.9% (↑)      Hobart 1.4% (↑)      Darwin 2.8% (↑)      Canberra 2.9% (↑)      National 2.2% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND         Sydney 29.5 (↓)       Melbourne 31.6 (↓)       Brisbane 31.5 (↓)       Adelaide 26.2 (↓)       Perth 41.1 (↓)       Hobart 33.2 (↓)       Darwin 24.8 (↓)       Canberra 32.7 (↓)       National 31.3 (↓)            AVERAGE DAYS TO SELL UNITS AND TREND         Sydney 25.4 (↓)       Melbourne 31.6 (↓)       Brisbane 27.4 (↓)       Adelaide 23.7 (↓)       Perth 41.0 (↓)       Hobart 26.8 (↓)       Darwin 45.2 (↓)       Canberra 43.3 (↓)       National 33.0 (↓)           
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Watch Collectors Cash In As Phillips Geneva Auction Totals $46 Million

Watch investors take note.

By Terry Christodoulou
Mon, Jun 29, 2020 5:56amGrey Clock 2 min

Over the weekend, the Phillips Geneva Watch Auction XI marked the return of the live watch auction – the first since the global Covid-19 crisis.  With 210 lots on offer, the event experienced energetic bidding from buyers across at least 67 countries totalling approximately $46 million.

The sale, conducted by Phillips in association with Bacs & Russo at the Hôtel La Réserve in Geneva, was held for a limited number of live buyers supported by more than 2000 collectors bidding via phone or online.

Phillips
Patek Philippe, ref.1518 perpetual calendar chronograph from 1941.

As far as individual sales, Patek Philippe claimed all three spots on the podium with the premiere lots from the private collection of Jean-Claude Biver – a recognisable force of the Swiss watch industry. Here, the Patek Philippe ref. 1518 perpetual calendar chronograph from 1941 claimed top spot, its moonphase in pink gold and extremely rare pink dial fetching for around $5.1 million.

Patek Philippe ref. 2499, from 1957

In second, was the Patek Philippe ref. 2499 perpetual second series calendar chronograph with moonphases, from 1957. Only 20 known examples of this model – with its yellow gold batons 0  are known to exist, making it a highly sought-after piece. And with nine bidders competing for the watch, it soared to a final price of approximately $3.93 million.

Patek Philippe ref. 1579 from 1946

In third was a Patek Philippe ref. 1579 from 1946, in platinum. Recognisable for its ‘spider’ lugs and blue enamel graphics, it is believed to be one of only three models of this reference with a platinum case, and of those, it is the only watch with a blue scale and markers. As such, the one of a kind piece commanded a $2.91 million sale price.

Phillips Sale
F.P. Journe’s Tourbillon Souverain “Souscription”

Despite Patek Philippe’s dominance across the auction block, the action wasn’t limited to the venerable Swiss brand with the earliest F.P. Journe watches ever made both selling well above their estimates at prices of $2.18 and $1.6 million respectively.

phillips.com



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NAB’s Earnings Hit by Higher Business-Loan Impairments

The bank posted unaudited cash earnings for the quarter of A$1.7 billion, down 2% on the average of its prior two quarters

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National Australia Bank said that higher credit impairments against business loans contributed to a small fall in its unaudited December quarter cash earnings.

NAB , which is Australia’s second-largest bank by market capitalization, on Wednesday posted unaudited cash earnings for its fiscal first quarter of 1.74 billion Australian dollars, equivalent to about US$1.11 billion.

That was down 2% on the average of its prior two fiscal quarters. NAB did not give a year-earlier comparison.

The lender said that revenue grew by 3% compared with the average of its prior two fiscal quarters. Underlying profit growth of 4% over the same period was offset by higher credit impairment charges and income tax expenses, it added.

NAB, which posted an unaudited quarterly statutory profit of A$1.70 billion, said the A$267 million credit impairment charge included A$152 million of individually assessed charges. Those were mainly against Australian businesses and unsecured retail portfolios, it said.

The individual charges were up by 54% compared with a year earlier. NAB said that it had not altered its economic assumptions and scenario weightings.

“The economic outlook is improving but cost of living and interest rate challenges persisted,” Chief Executive Andrew Irvine said. “While most customers are proving resilient, we have maintained prudent balance sheet settings.”

NAB said it had seen a small decline in net interest margin due to funding costs, lending competition and deposits, partially offset by the benefit of higher interest rates.

On Tuesday, the Reserve Bank of Australia cut the country’s cash rate for the first time since 2020 but warned against expecting subsequent near-term cuts.

NAB is still targeting full fiscal-year productivity savings of more than A$400 million, and for operating expenses to grow by less than 4.5%, Irvine said.

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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