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Until this auction, there were only four known watches titanium made by Patek Philippe. a few months, the new group expects to leave the distribution sector completely, after disposing of Fnac and the remainder of online fashion retailer Redcats.

The price of gold for the second quarter fell by more than $400 ounce or 12 percent, according to the WGC, the marketing development organization for the gold industry.

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One piece of technology that muddled the watch market was the smart watch, Marai says, which after their initial success have failed keep the interest of consumers.

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