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A poster of the Patek Philippe Ref 96 Quantieme Lune timepiece, once owned by Aisin-Gioro Puyi, the Chinese Qing dynasty’s last emperor, is seen on display in Phillips auction house in Hong Kong on May 23, 2023 ahead of its auction in the territory on the same day. The most expensive watch ever sold at auction was a Patek Philippe “Grandmaster Chime”, which sold for US$31 million in 2019. (Photo by Peter PARKS / AFP)

ANTI COMPETITIVE BEHAVIOR

The price of exclusivity: Tying practices in luxury goods and South African Competition Law

Luxury brands rely on exclusivity to maintain their status, and consumers willingly participate in this ecosystem

Mukundi Budeli