German automaker Porsche celebrated its global community of clients. The Porsche Golf Circle, an exclusive group of the company’s top customers, gathered in Dubai for a year-end game event in November. Together, 65 participants from more than 10 countries and four continents partook in multiple days of lavish experiences, on and off the green. (LD)
Crypto investor Justin Sun paid $6.2 million for a banana duct-taped to a wall, highlighting the soaring values of crypto and viral art. Sotheby’s auctioned off the infamous banana, titled “Comedian,” created by Italian artist and cultural prankster Maurizio Cattelan. After a heated battle with six others, Sun emerged as the winner, bidding online and paying in crypto. (CNBC)
In Vogue Business’s Winter 2023/24 Index, the gap between the industry’s top three players and the remaining luxury line-up continues to widen, decreasing the likelihood of disruption for these key brands. Gucci overtook Dior, which returned to second place, reclaiming its spot as the number one brand. Previously, Burberry and Bottega Veneta, respectively, led the pack. Meanwhile, Prada pushes its way up the rankings, rising three positions, and Balenciaga re-enters the top 10. (Vogue)
Generation Z’s growing interest in luxury mechanical watches is keeping the pre-owned sector going at a time of falling second-hand prices, and a drop in Swiss timepiece export volumes, according to industry analysts. Research shows that “Zoomers” are buying up luxury watches and building fast-growing offline communities around them. A YouGov survey commissioned by online marketplace Chrono24 found that 20 percent of those aged between 18 and 24 were “likely or very likely” to purchase a luxury watch in the next 12 months, compared with an average of 11 percent for all age groups. (FT)
Ex-empire owner of F1, Bernie Ecclestone has been handed a hefty near-$830 million tax bill by British authorities over tax evasion and has decided to sell his rarely seen stash of priceless Grand Prix and Formula 1 race cars. In total, 69 cars will be offered up through Tom Hartley Jr., a dealer in exotic machinery based in the UK. The 94-year-old Ecclestone claims he’s selling the collection so that his wife will be taken care of in the eventual event of his passing. (Luxury Launches)
