Patek Philippe recently set two world records. The Important Collectors’ Wristwatches, Pocket Watches, & Clocks Auction was held by Antiquorum on September 17 in New York and it was there that two of the wristwatches achieved the highest bids ever.

The LA Times Hot Properties section is reporting that Academy Award-winning actor Nicholas Cage’s Bel Air home has gotten another price cut.

The downed economy stalled Dream South Beach, and rumors ran wild that the hotel would never open. Now, Hotel Chatter is reporting that the hotel is planning on opening its doors Spring 2010.

Last week, we reported that the two penthouses in San Francisco’s Millennium Towers had been snatched off the market, and many were speculating that Google financier Tom Perkins was one of the lucky new owners.

After building a 25-year legacy by sponsoring the Louis Vuitton Cup, which rivals the America’s Cup in world-class sailing, and the Louis Vuitton Pacific Series in Auckland, New Zealand last February, the famed French luxury goods house has announced plans for a new regatta.

Believe it or not, many American millionaires grew up in environments quite different from the luxury lifestyles they enjoy today.

In a move that took even the savviest insiders by surprise, the chairman of Disney Studios, Dick Cook, announced his resignation on Friday, September 18.

TARP, the government’s Troubled Asset Relief Program, includes several banks and the new guidelines referred to expenses involving entertainment, company events, office renovations, and the use of private jets.

Richard Berenholtz, New York architect-turned-photographer, will soon be releasing his book, New York Deco. This forthcoming photograph-laden tome features the Art Deco designs of New York City’s 1920s skyscrapers.