So I guess AP Safari's are now double........insane

[TooWoundUp]

Did anyone follow the recent Phillips Auction on June 27-28. Particularly the AP Safari which went for what is more than double retail (this price doesn't reflect auction house premium of 25%). Kind of sketchy on the part of Phillips. Many other Rolexes also went for crazy money. Made no sense to me. You might say quarantine boredom, but to me it looks like either market manipulation or rich people washing dirty cash.....


AP Safari went for 32,500.......
https://www.phillips.com/detail/aude...et/CH080120/11

AP 15500st black also goes for 32,500
https://www.phillips.com/detail/aude...et/CH080120/12

Other crazy lots:

Batman went for 25k....
https://www.phillips.com/detail/rolex/CH080120/2

Gmt goes for 25k:
https://www.phillips.com/detail/rolex/CH080120/76

So many more like this...amazing

[rumnyc]

I wouldn’t do it. The finish of the newer models is i think better.


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[TooWoundUp]

I mean ofc, no one in their right mind would pay that much. I mean you can get RG 44 ROOs for that money. absolute insanity

[GoingPlaces]

That's a crazy price. Doesn't make sense to me.

[TooWoundUp]

Looks like Theo and Harris thinks these prices are legitimate?? Not sure I agree

https://www.youtube.com/watch?v=ZS2UlphDWvQ

[Tomas Eriksson]

Originally Posted by TooWoundUp

Looks like Theo and Harris thinks these prices are legitimate?? Not sure I agree

https://www.youtube.com/watch?v=ZS2UlphDWvQ

That guy has no clue.

[fsprow]

This is a well run, quite legitimate auction. Many of the bidders, even web based, tend to view high end auctions as an activity, like going for a weekend in Monte Carlo gambling. Not necessarily representative of the overall market.

[chiscott_29]

I think the answers are staring us right in the face:

1). People get caught up in auctions.

2). People buying watches at auctions generally speaking do not care about a few thousand dollars. They put a premium on the exclusivity/experience/security that such an experience provides.

Anything else is really just sensationalism unless there is established evidence otherwise.

[Jamie Dustin]

May be market manipulation

[TooWoundUp]

Originally Posted by chiscott_29

I think the answers are staring us right in the face:

1). People get caught up in auctions.

2). People buying watches at auctions generally speaking do not care about a few thousand dollars. They put a premium on the exclusivity/experience/security that such an experience provides.

Anything else is really just sensationalism unless there is established evidence otherwise.

But these are watches that are readily available from reputable sellers for 1/2 the price. Like if it was 5 or 6 grand over, then that makes sense. But 32.5k for a safari is plain bizarre

[chiscott_29]

Originally Posted by TooWoundUp

But these are watches that are readily available from reputable sellers for 1/2 the price. Like if it was 5 or 6 grand over, then that makes sense. But 32.5k for a safari is plain bizarre

I don't disagree with you that it's bizarre. I am just doubting that there is something nefarious going on. I stopped trying to rationalize human behavior a long time ago

[supersam80]

Nevermind the AP, what about the GMTc at $25k USD???

Anyone want mine for $24k?

[NotRichardMille]

Wow.. they are like half on Chrono.. jesus

[TooWoundUp]

Originally Posted by supersam80

Nevermind the AP, what about the GMTc at $25k USD???

Anyone want mine for $24k?

Right??? like goddamn this makes no sense

[NotRichardMille]

https://www.chrono24.nl/audemarspigu...id13853338.htm

EUR 11.900.-

Lots of money laundering happens at auctions. Not saying it happens at Philips but it's like going to an Art auction. Still the easiest way to move massive amounts of money around the world.

[TooWoundUp]

Originally Posted by NotRichardMille

https://www.chrono24.nl/audemarspigu...id13853338.htm

EUR 11.900.-

Lots of money laundering happens at auctions. Not saying it happens at Philips but it's like going to an Art auction. Still the easiest way to move massive amounts of money around the world.

Yup, certainly seems like it. I'm not accusing phillips of participating willingly but it seems like a cash wash operation on the buyer's part.

[rumnyc]

Originally Posted by TooWoundUp

Yup, certainly seems like it. I'm not accusing phillips of participating willingly but it seems like a cash wash operation on the buyer's part.

32k chf for black 15500st? Not even new. Man that’s a racket lol...

[wisguy]

People buying at these auctions don't want the hassle of shopping for a deal.

Most gray or preowned experiences are subpar, they want a watch, they'll pay whatever and brag they bought at Phillips.

[chiscott_29]

Originally Posted by wisguy

People buying at these auctions don't want the hassle of shopping for a deal.

Most gray or preowned experiences are subpar, they want a watch, they'll pay whatever and brag they bought at Phillips.

Ding ding ding...Winner!!

[TooWoundUp]

Originally Posted by wisguy

People buying at these auctions don't want the hassle of shopping for a deal.

Most gray or preowned experiences are subpar, they want a watch, they'll pay whatever and brag they bought at Phillips.

Wow I guess its plausible. I guess I dont gave that sort of f*** you money to understand what goes behind that sort of mentality. One day boys, one day.

[Caramba]

If it smells fishy, it probably is fish. Money laundering sounds more plausible than attempted market manipulation imo.


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[maruchan22]

Why are the prices higher than grey market? can someone explain to me?

[Reign]

Their are just too many crazy numbers for me to think it’s money laundering.

5712 = 2x retail
Safari = 2x retail
5990 = 2x retail

List goes on... I think it’s as one poster mentioned, they want the Phillips stamp associated with their purchase vs established Greys.

Phillips/Christies/Sothebys vs. DavidSW (not to put down DSW because they’re a really good grey). Former has a better ring to the right people than to those on this forum

[Caramba]

Originally Posted by Reign

Their are just too many crazy numbers for me to think it’s money laundering.

5712 = 2x retail
Safari = 2x retail
5990 = 2x retail

List goes on... I think it’s as one poster mentioned, they want the Phillips stamp associated with their purchase vs established Greys.

Phillips/Christies/Sothebys vs. DavidSW (not to put down DSW because they’re a really good grey)

It would make somewhat sense if they were very rare models or versions that are hard to come by. Twice retail for a safari is just ridiculous and it is foul play for sure.


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[AK797]

Hmm, the art market before Covid last year was not firing on all cylinders like the watch market was, Richters and Basquiats were not achieving the high estimates, so this does look a bit suspicious, esp now.

[phow]

I'm wondering if that auction has contributed to the jump in prices on Chrono24 for models like the 15500. There has been a sudden increase in price on all dial colors.

Or if inventory is just really limited now that the boutiques are back open...

Either way all of this is crazy...