Twenty-seven raises it’s a record sum of 3 million and 600 thousand euros for 174 square meters. The Gallery with the arrival of Tiffany enters the top ten of the most expensive shopping streets in the world. The price per square meter was beaten to 20,600 euros against 20,300 Fifth Avenuethe 18 thousand of via Monte Napoleone, the 15,219 of Hong Kong, the 9,299 of Ginza in Tokyo. To definitively enter the ranking, however, it will take time, because the 20,600 euros represent a peak and not an average as for other streets in the world, furthermore the auctions with relaunches, those which bring millions of euros into the coffers of the Municipality, are limited to shops around theOctagon. He doesn’t care about records, if as he remembers the councilor for State Property, Emmanuel Conte, since the auctions started in 2018, the proceeds for the Municipality have passed from 30 to 70 million euros: «Thus increasing the resources that the Municipality can redistribute among citizens, transforming them into services».
Ten luxury brands competing For the former Swarovski venue. Brand attorneys are in the front row. Starting price, 506 thousand euros. Minimum raise of 50 thousand euros every three minutes. Breaks the ice Damiani with 600 thousand euros. First heavy relaunch of Jill Sander with the classic million of Mr. Bonaventura. He makes his appearance Valentine with one million and 400 thousand. It’s time to Swatch which brings together a series of increases of up to 3 million euros. Tiffany who until a few minutes earlier had remained in the rear begins his approach march. Above three million it also shows up Samsonite which lets go at 3 million and 250 thousand euros.
And here it happens a bit like in high jump competitions, when the athlete who feels strong decides to enter the competition with the bar already above two metres. The prosecutor raises his hand Prada and shoot the two-person race with Tiffany. Everyone uses their three minutes until the last second to see their opponent’s reactions. We move forward 50 thousand euros at a time. Tiffany 3 million and 300, Prada 3 million and 350 thousand… 400, 450, 500, 550. Last show of hands from Tiffany: 3 million and 600 thousand euros. The stopwatch counts down. Three beeps indicate the end of the auction. Just over two hours for Palazzo Marino to take in the beauty of 3 million and 600 thousand euros a year for 18 years. The only regret is that there will be no new enchantments for a long time because the concessions around the Octagon have all been renewed in recent times.
«It is the virgin candle system» explains lawyer Claudio Cocuzza, Tiffany’s attorney. A tradition that dates back to past centuries in Flanders. «If after the ignition and extinction of three candles that each last one minute no offer was made, it is stated buyer who made the last increase”. «Virgin» because his offering is not «violated» by anyone else. It was first councilor Roberto Tasca and now Conte who renewed the tradition of enchantment for public properties. And since nothing of the Gallery should be wasted, now we start with the rents of the upper floors. «It was a good battle – says Michela Grandi, managing director for Southern Europe at Tiffany -. The Gallery, together with the premises in Monte Napoleone which will open next year, is strategic in the development of Tiffany”.
