Luxury timepieces are back. They’re highly collectible, exceptionally crafted…and costlier than ever.Note the watch on your left. Introduced in January at Geneva’s Salon International de la Haute Horlogerie, the Openworked Extra-Thin Royal Oak Tourbillon in stainless steel from Audemars Piguet embodies several prevailing trends in the luxury watch market. First and foremost? Heritage. The Royal Oak turns 40 this year, and Audemars is sparing no expense in feting it. Across the watch business, rare is the debut that does not evoke a past glory—one sign of how important the notion of
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