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France’s Auction of Rolexes, Birkin Bag Shows Luxury Appetite

  • Watches fetch higher prices than upper estimates set by state
  • Paris sale pulls in a total of €1.36 million, exceeding goal

France auctioned off two Rolex watches and a Hermes Birkin bag at prices that topped pre-sale estimates in Paris on Friday, the latest evidence of robust demand for luxury goods.

The second-hand items were among hundreds of goods on auction -- from cars to jewelry and platinum bars -- that had been seized by French customs officials as contraband. In total, the sale brought in €1.36 million ($1.35 million), compared with the €1 million the government had hoped to raise.