Patrizzi & Co. Sale

The Patrizzi auction of October 7th was very telling. I entered late, lot 30 or so, but was pleased to find a full room and a good buzz. This was lacking at the previous US Patrizzi & Co. sale in June. Good sign.
What happened next was surprising to some, but not to me. Lot after lot went unsold. This happened because many of the reserves were IMO way out of sync with the market. I mean come on a 1655 7 million (lot 74) gets a bid of $13.5k and does not hit reserve???? I know this is a venue for "end users' but in the room were many of the "usual suspect" NYC dealers looking to cash in on the "no buyers premium" P & Co. is known for. I do not know about them, but this NYC dealer had no luck, or should I say no intention of paying up for pieces which were WAY overpriced and thus, went back to their owners.
When are people going to wake up and admit there is a money problem in this country and EU. Remember people, the reason for the "Revolution" in watch pricing was the availability of cheap money and credit in THIS country allowing many new players to come to the plate. Without these buyers, mid level stuff will not move. Here is another example: There was a steel Zenith Daytona w/papers (yes, those were papers) stalls at $9k we need to re-evaluate how much we pay for this kind of piece. Think about it: on 47th street you cannot buy a Daytona, Zenith or otherwise, for less than $8k. Does anyone else see what I am seeing? What was the reserve on that piece? had to be AT LEAST $11k. No takers. Yet, a platinum old style double quick President w/papers sells for $18k. ????? I just sold one to another NY dealer (new style, no papers) for $16 the day prior.
Two Tier, my friends. But Two Tier does not account for a Sky Moon selling for $1.2 million...or does it? It seems the big pieces sold for BIG money but not to US buyers. Surprised? Of course not. Or maybe you just do not want to admit it.
Pass after pass. One NY fixture sitting behind me was visibly frustrated. Why not? Better yet, WHY???
More after I collect my thoughts...