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Watch owned by China's last emperor sells for $5 million

A Patek Philippe wristwatch once owned by China's last emperor sold for more than $5 million on the auction block in Hong Kong on Tuesday.

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Another item on auction was a red paper fan, inscribed with a poem by Puyi "dedicated to my comrade Permyakov". That fetched more than $77,800 -- six times its pre-sale estimate.