Partners in Time Watch Update by Trent Crowley

Sent: Thursday, April 10, 2008 3:59 PM

Subject: Sothebys Hong Kong Auctions Results Apr 10,2008..IMPRESSIVE RESULTS

2008 starts with very impressive results in the collectible watch market indicated by the Sotheby's Hong Kong auction today....I have included results from this auction with prices indicated in Hong Kong Dollars. Again,Patek Philippe leads the way with the Sky Moon Ref 5002 Platinum model fetching over 1.5M US and the Ref 5102 Celestial Moon reaching over 400k US......it was only a yr ago that I was selling the Ref 5102 at 175-190k and if you read my watch updates at http://www.astorlive.com/ from last spring and summer I was recommending this piece to reach the 250k range....sorry for being so conservative in my forecast.

At the moment the market is readying itself for a challenging year here in the US but with global markets such as China,Russia and India booming I expect this market to continue to reach for higher levels in the months ahead. Patek Philippe has just increased their prices approx 21% since Feb 2008 with it's newest increase going in effect May 1,2008.They claim the reasons are based on the declining values of the US dollar.....personally I don't see much more downside in our dollar over the remainder of 2008.

In fact we could actually have a fall rebound in our economy which in turn would push the collectible Patek Philippe market even higher.

As I stated in 2007 "this market has legs" and will continue to move forward in spite of the pessimism forecast here in the US......you must remember that Patek Philippe watches are not produced here in the US and based on worldwide consumption and Patek Philippe production demand far exceeds supply.The law of supply and demand rules.

If you are currently trying to determine where is the best place to park your assets then I suggest you consider looking at the higher end Patek Philippe grand complications as these seem to offer "safe harbor " in today's climate.....these remain the most elusive pieces and in my opinion will continue to seek higher ground .

As always, I look forward to hearing from each of you in the days ahead.

Your Partner in TIME,

Trent Crowley

http://www.astorlive.com/

901-248-4892 Direct

Auction results are available for the lots you are tracking.

Legacy of a Collector, HK0286
Auction Date: Thu, 10 Apr 08, 1:00 PM

		Lot 1802 F.P. JOURNE, A FINE AND RARE PLATINUM TOURBILLON WRISTWATCH WITH CONSTANT FORCE REMONTOIR AND POWER RESERVE INDICATION CIRCA 2004 TOURBILLON SOUVERAIN REMONTOIR D'EGALITÉ NO 212/03T Price: 667,500 HKD

		Lot 1803 A. LANGE & SÖHNE, A FINE AND RARE LIMITED EDITION PLATINUM TOURBILLON WRISTWATCH WITH POWER RESERVE INDICATION, CHAIN AND FUSÉE AND BRACELET CIRCA 1997 TOURBILLON 'POUR LE MÉRITE' 18/50 Price: 1,687,500 HKD

		Lot 1804 A. LANGE & SÖHNE, A FINE AND RARE LIMITED EDITION PLATINUM TOURBILLON SPLIT SECONDS CHRONOGRAPH WRISTWATCH WITH POWER RESERVE INDICATION AND CHAIN AND FUSÉE CIRCA 2006 TOURBOGRAPH 'POUR LE MÉRITE' 6/51 Price: 5,927,500 HKD

		Lot 1805 PATEK PHILIPPE, A FINE AND RARE LIMITED EDITION STAINLESS STEEL WRISTWATCH WITH TWO-TONE DIAL CIRCA 2006 REF. 5565A-001 CALATRAVA MVT 1901229 CASE 4381734 Price: 511,500 HKD

		Lot 1806 PATEK PHILIPPE, A FINE AND RARE LIMITED EDITION PLATINUM RECTANGULAR WRISTWATCH CIRCA 2006 REF 5105p-001 MVT 978012 CASE 4287298 Price: 607,500 HKD

		Lot 1807 PATEK PHILIPPE, A FINE AND RARE WHITE GOLD AUTOMATIC WRISTWATCH WITH DATE, MOON PHASES AND POWER RESERVE INDICATION CIRCA 2006 REF 5712G-001 NAUTILUS MVT 3171753 CASE 4370034 Price: 367,500 HKD

		Lot 1808 PATEK PHILIPPE, AN EXCEPTIONAL AND FINE PLATINUM SPLIT SECONDS CHRONOGRAPH WRISTWATCH CIRCA 2005 REF 5959P MVT 3637009 CASE 4353660 Price: 3,607,500 HKD

		Lot 1809 PATEK PHILIPPE, A FINE AND RARE PLATINUM RECTANGULAR TOURBILLON WRISTWATCH WITH 10-DAY POWER RESERVE INDICATION CIRCA 2004 REF 5101 MVT 3361048 CASE 4257220 Price: 1,927,500 HKD

		Lot 1810 PATEK PHILIPPE, A VERY RARE AND FINE WHITE GOLD AUTOMATIC ASTRONOMICAL WRISTWATCH WITH SKY CHART, PHASES AND POSITION OF THE MOON AND TIME OF MERIDIAN PASSAGE OF SIRIUS AND THE MOON CIRCA 2003 REF 5102G CELESTIAL MVT 3328102 CASE 4233011 Price: 3,127,500 HKD

		Lot 1811 PATEK PHILIPPE, AN EXTRAORDINARY AND RARE PLATINUM DOUBLE DIALLED WRISTWATCH WITH TWELVE COMPLICATIONS: MINUTE REPEATER, TOURBILLON, PERPETUAL CALENDAR, RETROGRADE DATE, SKY CHART, MOON PHASES AND ORBIT, SIDEREAL TIME CIRCA 2003 REF 5002P SKY MOON TOURBILLON MVT 3350019 CASE 4214427 Price: 11,751,500 HKD

		Lot 1812 PATEK PHILIPPE, AN EXCEPTIONAL AND FINE PLATINUM AUTOMATIC MINUTE REPEATING PERPETUAL CALENDAR WRISTWATCH WITH RETROGRADE DATE, MOON-PHASES AND ONLY KNOWN BLACK DIAL CIRCA 2004 REF 5013P-001 MVT 1908054 CASE 4214420 Price: 5,367,500 HKD

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