June 4: Five Watch Auctions in Seven Days; Ferrari 599XX Leads Tegernsee at EUR 2.5M
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Tonight: auto sector equities, Centre Pompidou Seoul opens, and a packed watch auction calendar ahead.
Tickers covered: MC.PA | CFR.SW | UHR.SW | RACE | WOSG.L

In this episode:

Auto Sector Equities
- BMW, Mercedes-Benz, and Porsche testing technical support levels
- Ferrari (RACE): 29.5% operating margin in 2025, up from 28.3% prior year, on revenue of EUR 7.1B

RM Sotheby's Tegernsee Consignment (July 4)
- 2009 Ferrari 599XX Evo: EUR 2M–2.5M (headline lot)
- 2004 Porsche Carrera GT: EUR 1.2M–1.6M

Centre Pompidou Seoul
- Centre Pompidou Hanwha opened today in Yeouido, Seoul
- 10,000 sqm, designed by Jean-Michel Wilmotte
- Inaugural exhibition: "The Cubists: Inventing Modern Vision" — Picasso, Kandinsky, Matisse, Chagall
- Partnership with Hanwha Foundation (Hanwha Group, publicly traded on Korea Exchange)

Watch Auction Season — June 9-15
- Sotheby's Magnificent Jewels — June 9, New York
- Christie's watches — June 10, New York
- Bonhams watches — June 11, London
- Phillips watches — June 13-14, New York
- Sotheby's watches — June 15, New York
- Swiss watch exports to US fell 17% YoY in April

Sector Snapshot at Close
- LVMH (MC.PA): EUR 477.10, day range 473–479.75
- Richemont (CFR.SW): ~CHF 161.80, near record high
- Swatch (UHR.SW): ~CHF 215
- Ferrari (RACE): 29.5% operating margin, FY25 revenue EUR 7.1B
- Watches of Switzerland (WOSG.L): holding 14% gain from earlier this week

Links:
- ALT/FNDATA: https://www.altfndata.com
- RM Sotheby's Tegernsee lots: https://rmsothebys.com/auctions/tc26/lots/
- Ferrari 599XX consignment: https://www.magnetomagazine.com/articles/ferrari-599xx-leads-rm-sothebys-coe-germany-supporting-2026-tegernsee-sale/
- Centre Pompidou Hanwha: https://www.centrepompidou.fr/en/lieu/centre-pompidou-hanwha

Also from ALT/FNDATA:
- Open Bid — Mon-Fri at 6 AM ET
- Auto Market — Thursdays at 8 AM ET
- Luxury Spending — Wednesdays at 8 AM ET