I had another look at the FABERGE site - one shop in the best part of Geneve. One of a kind stuff. The trading results will be interesting - and seeing whether they recapitalise - a separate listing - unlikely. Only drawback is this is unlikely to ever muster a large turnover - it can't - even though CPF once employed 500 skilled craftsmen. UNLIKE Rch it is a single brand - not one of a number of maisons - but RCH has nothing like this. PGL had an estimated NAV of R5.24 end Sept.