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I think there’s a few things to consider when discussing this topic. First thing is that the offered watches in Geneva are in general exceptional. They aren’t average. Finding exceptional pieces today is hard. Even for a seasoned collector or dealers. And exceptional watches aren’t cheap if they have already entered the market. People know how to value things and today I would say people even over value their assets in general. That means that if you can’t find fresh to the market pieces you are likely not buying cheap.
If someone thinks prices in auctions are double the market price I would advice them to sell there. Reality is that very few watches are worth putting up for auction. Even if you can negotiate a decent fee. Average or bad quality will either sell bad or not sell at all. Great quality will likely do well but those kind of watches are never cheap. The only winner is the auction house.
There’s also the impression that the only people buying from auction are idiot rich people. I would say that in general the buyers are dealers and collectors. Normally very well-informed people.
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