SPECIAL FEATURE
LUXURY LIVING
Court Orders Stock Liquidation of Luxury Goods Company — Cartier Luxury Watches Sold for Under $100 in Emergency Measure
Last Monday, the Internal Revenue Service (IRS) ruled that the remaining stock of Gramercy Horlogerie — a company burdened with millions in unpaid tax and employment liabilities — must be placed into immediate liquidation. Proceeds will be used to offset debts that have caused significant losses to public finances.
By Jonathan Reeves, The Financial Courier — New York
05/22/2026 09:03 AM · Updated 2 hours ago
A cornerstone of America's luxury market since the early 2000s, Gramercy Horlogerie became a staple in the homes of the nation's most affluent households, bringing prestige timepieces of internationally recognized quality to the American elite.
Operating largely unchallenged within the high-end import sector, the company — which boasted its own in-house manufacturing of designer goods — cemented its place in America's luxury industry. Its pieces were endorsed by celebrities, featured in prestigious society publications, and showcased across a number of high-profile television programs throughout the United States.
Gramercy Horlogerie's manufacturing facility supplied the US and several North American markets — Photo: Institutional Archive
The company's undeniable beauty and quality kept it from succumbing to decline during the turbulent years brought on largely by the pandemic. Having chosen to maintain its full payroll throughout the restrictions of 2020, the company accumulated insurmountable debts that prevented any meaningful recovery over the following five years.
Background
Gramercy Horlogerie was established in the United States during the early 2000s, benefiting from regional enterprise incentives that allowed it to set up operations in the Midwest and create hundreds of jobs for American workers.
The company swiftly carved out a prominent position in the market among high-end imported goods. Its Cartier timepieces, featuring intricate hand-finished details, consistently drew attention for their elegance and craftsmanship.
Photo: Institutional Archive
By 2010, the company had built up a considerable stock volume, supplying the national market as well as shelves across several North American partners, including Canada and Mexico.
From Final Efforts to Insolvency
After reaching its peak around 2015, the company entered a difficult period amid the economic uncertainty gripping much of the country.
Following a brief recovery in 2018 and 2019, the firm was forced to shut its doors in 2020 — yet chose to keep its workforce employed and salaries paid on time, in the hope that the global health crisis would come to a swift end.
Photo: Institutional Archive
However, given the urgency of settling its debts due to mounting interest and penalties — and in a bid to avoid further fines for late payment — Gramercy Horlogerie took the drastic step of slashing the price even further, in order to clear stock as rapidly as possible.
The total debt was estimated at $2.8 billion.
The Court Ruling
Following the court's decision, a liquidation process was opened to settle outstanding employment claims and a portion of the company's fiscal and tax liabilities. Gramercy Horlogerie subsequently chose to sell its remaining products online in order to clear its remaining stock.
Santos De Cartier Watch, the most iconic model in the Cartier collection, had previously retailed at $9,250, but in recent days its price dropped to less than a third of that already reduced figure — falling to just $1,940.
However, given the urgency of settling its debts due to mounting interest and penalties — and in a bid to avoid further fines for late payment — Gramercy Horlogerie took the drastic step of slashing the price even further, in order to clear stock as rapidly as possible.
Cartier Campaign — Photo: Vogue Magazine
Upon visiting the Official Website, we found that it is still possible at the time of writing to purchase the iconic Santos De Cartier Watch at an exclusive promotional price through JohnCapri for just $94.75, with flexible payment options available. There is no question that the company is pulling out all the stops to meet its financial obligations.
This story broke on Monday — we hope our readers are seeing it in time to take advantage of this remarkable clearance sale.
Below we have included the link to the Official Website — click through to find out whether discount codes are still available. If you have ever dreamed of owning one of the most coveted luxury watches on the market at an extraordinary price, we strongly advise you to confirm your purchase today, before stock runs out.
How Do I Buy?
Our editorial team contacted JohnCapri, the retailer managing the promotional codes for the stock liquidation, to find out more about the purchasing process and how readers can make the most of this opportunity.
In response, the company informed us that demand for the products has been overwhelming and that what appeared to be a substantial remaining stock is now down to its final units. Additionally, the products are not available in any physical retail locations — purchases can only be made through the official website (access by clicking here).
The company also confirmed that the promotional codes apply only to specific Cartier models — typically the most sought-after pieces among the brand's discerning clientele.
We were further advised that the current promotional codes are available for the next 24 hours only, and that neither the price nor stock availability can be guaranteed beyond that window.
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