{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Closing Price — Luxury Equities & Alternative Asset Signals","title":"Watch Auctions Set Records but Watch Stocks Fall; Gold Hits a New High as Luxury Fades; Ferrari Up 4%","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/4cec7a39\"></iframe>","width":"100%","height":180,"duration":368,"description":"June 15: Watch Auctions Set Records but Watch Stocks Fall; Gold Hits a New High as Luxury Fades; Ferrari Up 4%\nA US–Iran peace deal sent markets rallying, but luxury stocks gave back most of their gains by the close. The real standout was gold, which pushed to a new high — part of the same flight to hard assets that produced a record-breaking weekend in the watch salerooms.\nALT/FNDATA\n- Book a Data Sandbox demo: https://altfndata.com/go/cp-260615\n- Market reports: https://altfndata.com/go/cp-260615-r\n- Podcast episodes: https://altfndata.com/go/cp-260615-p\nLuxury Equities — The Close\n- European luxury opened sharply higher on the deal, then faded to a mixed close: LVMH (MC) 513 EUR +0.4%; Hermès (RMS) 1,712 EUR +0.9%; Richemont (CFR) ~+1%; Swatch (UHR) +1.7%; Watches of Switzerland (WOSG) 716p +0.5%\n- Lower: Kering (KER) 262 EUR −2.1%; Burberry (BRBY) 1,154p −1.8%\nUS Names\n- Ferrari (RACE) $369, +4% — the day's standout\n- American houses up: Tapestry/Coach (TPR) +2.4%, Ralph Lauren (RL) +2.1%; down: Capri/Versace (CPRI) −1.3%, Signet (SIG) −1.7%; Zegna (ZGN) roughly flat\n- The contrast: watchmaker Movado (MOV) −4% even as the watch auction market set records and the boom is in the secondary market, not in the makers of new watches\nGold and the Collectibles Boom\n- Gold closed near $4,330/oz, +2.8% — a new high; silver +3.2%, ~$70. On a risk-on day, gold rose anyway, supported by falling oil, lower yields, and a weaker dollar\n- The same appetite showed up in the saleroom: Phillips held the highest-grossing watch auction in US history ($75.8M, 100% sold), and an F.P. Journe set an independent-watchmaker record at $13.9M\n- ALT/FNDATA data: over the past 90 days, Christie's has sold 99% of everything it brought to auction (395 of 399 lots) — the strength is broad, not just the trophy lots\n- Rolex has raised the prices of its gold watches again\nDealmaking\n- Frasers Group, which has bid to take over Hugo Boss, fell ~4.9% in London (753p); Hugo Boss closed roughly flat...","thumbnail_url":"https://img.transistorcdn.com/-hOE2p7i6o042-uL_U7DDqKjx_Az8ErebwSEdvS9Gfo/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9jMTc5/NmRjNzQ2MTE0NmFl/YWY4OTQyODMxMTlh/ZGNiYy5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}