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A platinum Patek Philippe Ref. 5207 tourbillon minute-repeater with a perpetual calendar sold for $807,845 at Antiquorum’s auction held Saturday, the highest-grossing lot of the sale.
The pocket watch given to Babe Ruth after the New York Yankees won the World Series in 1923 went for $717,000 at an auction held Saturday in New York City.
A Patek Philippe Ref. 5004A, one of only 50 of its kind, is expected to sell for as much as $645,000 at Antiquorum’s sale scheduled to take place Saturday at the Mandarin Oriental in Hong Kong.
Biel/Bienne, Switzerland--Swatch Group reported a 9 percent increase in net sales and a 17 percent increase in operating profit, boosted by the watch giant’s multimillion-dollar settlement with Tiffany & Co. 
Raymond Weil of the eponymous Swiss luxury watch brand died on Sunday, leaving behind a legacy of creating luxurious yet affordable timepieces.
While the investigation into the fire that destroyed part of a Swatch Group factory remains under investigation, a company spokesperson said early results indicate the fire was caused by a “technical deficiency” in one of the pumps in the galvanic workshop. 
A watch company has been ordered to pay Audemars Piguet more than $9 million in damages for selling a watch that was deemed to be a knockoff of the luxury watchmaker’s “Royal Oak.”
A spokeswoman for the Swatch Group said the company is still trying to determine how a fire that destroyed a unit within its ETA factory on Sunday will impact production.
National Jeweler

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Since 1906, National Jeweler has been the must-read news source for smart jewelry professionals--jewelry retailers, designers, buyers, manufacturers, and suppliers. From market analysis to emerging jewelry trends, we cover the important industry topics vital to the everyday success of jewelry professionals worldwide. National Jeweler delivers the most urgent jewelry news necessary for running your day-to-day jewelry business here, and via our daily e-newsletter, website and other specialty publications, such as "The State of the Majors." National Jeweler is published by Jewelers of America, the leading nonprofit jewelry association in the United States.