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Old 16 July 2019, 01:26 PM   #1
pereztroika
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Fake 6240 Solo sold in Monaco last night

Accademia Fine Arts, a Monégasque auction house specialized in art gave their debut in vintage watches last night. Among other things, they also offered a number of vintage Rolex Daytonas. One particular Daytona attracted my attention from the very beginning. The watch in question is a Rolex Daytona 6240 with Solo dial.

The auction house used pictures of another Solo to present the watch in their catalogues on and offline. This alone was strange to say the least but after careful examination, the actual watch turned out to be completely fake. The auction house was informed prior to the auction and agreed to withdraw the watch. For some reason, however, the proven counterfeit remained listed and was auctioned for EUR 78,000.

https://perezcope.com/2019/07/16/vin...dal-in-monaco/


Cheers

Jose
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Old 16 July 2019, 02:18 PM   #2
GradyPhilpott
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Interesting write-up and an eye-opener.
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Old 16 July 2019, 02:28 PM   #3
FloridaSam
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Oof. Someone paid a lot for a Vietnamese franken.
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Old 16 July 2019, 02:41 PM   #4
watchtung
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interesting read. Thats interesting they made a claim that the other watch is not authentic.
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Old 16 July 2019, 02:51 PM   #5
roh123
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This is just sad.
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Old 16 July 2019, 05:26 PM   #6
HarryLime
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Wow, great research!
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Old 16 July 2019, 06:31 PM   #7
directioneng
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Nice work but disappointing outcome.
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Old 16 July 2019, 06:57 PM   #8
BisonHead
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What a great write up. Thank you for sharing.
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Old 16 July 2019, 07:17 PM   #9
996marty
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Fascinating reading you would expect a watch in a top auction to be a legitimate one shameful it wasn’t withdrawn.
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Old 16 July 2019, 07:47 PM   #10
CPRWATCH
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Great read & thanks for sharing , I think the phrase, Due Diligence was coined for such a Watch.
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Old 16 July 2019, 09:48 PM   #11
Toronto Soup King
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What a cautionary tale for someone with deep pockets and new to the hobby. Thank you for this, OP
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Old 16 July 2019, 10:38 PM   #12
GoingPlaces
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Makes me wonder how many others have been scammed in the vintage frenzy.


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Old 16 July 2019, 11:28 PM   #13
1665fan
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One main reason I stick with zeniths and stay away from 4 digits
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Old 17 July 2019, 12:06 AM   #14
ctzn
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Thanks for sharing the detailed breakdown. Scary times out there for vintage collectors.
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Old 17 July 2019, 12:16 AM   #15
kwcsports
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Crazy that this could happen but money is a big motivation.
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Old 17 July 2019, 04:07 AM   #16
stevedssd
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Incredible knowledge............and deeply concerning
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Old 17 July 2019, 04:23 AM   #17
swish77
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I've said it before and I'll say it again, these auction houses are nothing more than fancy eBays. All of them.

I work with auction houses in the art world, and I'm always shocked by what goes on. They are not immune to mistakes and dishonesty.

Anybody looking to buy an expensive vintage watch at an auction house needs to approach it like any other sale and do a ton of their own homework.
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Old 17 July 2019, 06:31 AM   #18
2001jesper
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What an insight that guy have - really impressive! The resident watch expert at the auction house was probably too proud to re-call it despite the shortcomings
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Old 17 July 2019, 06:40 AM   #19
1665fan
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A lot of the auction houses think they are know all in the vintage watch world but are more flippers rather than true educated vintage connoisseurs
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Old 17 July 2019, 12:18 PM   #20
motoikkyu
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I do not have any "inside information" but my personal experience with one of the more famous auction houses leads me to believe that there is a lot more to the vintage auction game than meets the eye. I won't mention the name of the house, but they have widely publicized auctions in New York, Milan, Hong Kong, and Switzerland.

They had a number of auctions featuring vintage Heuer chronographs, where they received staggering prices for these. I was invited to show mine to their house expert, who pronounced them both worthy and desirable (I have some that are NOS). I tried for three cycles to get even one of my pieces included in one of the auctions: I did not attempt to negotiate terms, I did not state a preference as to venue, I simply asked if they could bring themselves to auction one of the eight pieces of mine they had certified as worthy. Not a chance! I've watched examples that are in many ways inferior to pieces in my safe-deposit box command high prices at this house's auctions, sometimes even two or three examples in one auction. But not mine.

I suspect that there is a certain cadre of investors or speculators that they are servicing. Quite possibly the initial rise in prices was influenced in some way by the house itself. You have to be in that club to sell your pieces at those high values. There's something not quite right about what's going on with even very well-known and reputable houses: I no longer have much faith in auction prices having any significant relevance whatsoever to the actual market prices as regards vintage Swiss watches. Rolex prices are much more reliable since there is so much scrutiny in so many markets, including the auction houses.
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Old 17 July 2019, 09:13 PM   #21
TheDude
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You know... I watched an episode of “American Greed” in which a fellow who ran one of the most respected sports memorabilia auction houses turned out to be doing some very shady things. Very interesting to see how they perpetrated the different frauds.

https://www.sportscollectorsdaily.co...ns-saga-hobby/

Could easily occur in any niche segment.



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Old 17 July 2019, 09:16 PM   #22
interestedwatcher
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I want this guy to look at any watch I buy.
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Old 17 July 2019, 11:03 PM   #23
REFZ
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This again shows that the vintage market is a real minefield.
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Old 18 July 2019, 04:47 AM   #24
TimeLord2
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Quote:
Originally Posted by CPRWATCH View Post
Great read & thanks for sharing , I think the phrase, Due Diligence was coined for such a Watch.
I think the phrase is caveat emptor.
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