Christie’s auction today

[yonexsp]

Originally Posted by blargle

how about the fact that you can buy a tiffany OP for half of what was paid at auction, right now, on chrono24 of all places? nothing about that seems strange to you at all? that somebody decided to pay double the overpriced current grey price? it doesnt conjure up thoughts of money laundering, corruption, or market manipulation to you?

100% Not sure how much simpler it can be.

You can literally buy BNIB watches online with overnight delivery, with one click for 50%.

If this was a Ferrari 360 etc, no one would be paying 2x the prices on bringatrailer.com

Totally corrupt, and no doubt authorities are looking at this, especially as means of moving funds out of places like Russia currently are in great demand.

If it looks like a duck....

[drrd]

Originally Posted by blargle

how about the fact that you can buy a tiffany OP for half of what was paid at auction, right now, on chrono24 of all places? nothing about that seems strange to you at all? that somebody decided to pay double the overpriced current grey price? it doesnt conjure up thoughts of money laundering, corruption, or market manipulation to you?

I questioned 'not real'.

[blargle]

Originally Posted by drrd

Or d) Rich collectors are always are prepared to pay a premium for the rare and discontinued. More so when pieces are presented by a big name auction house with slick management of international sales, high profile watch experts and a reputation which exceeds most grey/private/'trusted' sellers etc.

give me a break

[waterking]

Originally Posted by blargle

give me a break

Not everything in the world of Rolex revolves around crime scene tape or criminal activity. Some of the reasoning behind purchases is not near as shady as you seem to want to propose.

Too many Law and Orders?

[drrd]

Originally Posted by blargle

give me a break

Sure.

I don't count myself as a buyer at these flagship auctions. It doesn't sound like you are either but you can use your imagination.

[HMHM]

Daytona same price as an OP….. we have reached peak insanity…..

[ibz_s_b]

I can only presume that the person bidding for the Tiffany OP got into a bidding war and wasn't willing to back down due to ego because...WHAT THE F?

[DBCooper07]

Are those auctions for charity? Because why the hell would people pay those prices... Now if it s charity auction I can totally see it. A 65K write off and a free watch for the rich.

[Chris]

Originally Posted by DBCooper07

Are those auctions for charity? Because why the hell would people pay those prices... Now if it s charity auction I can totally see it. A 65K write off and a free watch for the rich.

Maybe some people arent so shortsighted to believe the correction if thats what is occuring is not the end of the world. People are forecasting a crash based on few weeks of certain models falling prices.

[Horologista]

My take on the auction.

Doubt gray dealers have the resources or coordination to bid up prices so much. This was just one of many recent/upcoming auctions with similar results. I imaging the incentive would be for some grays to opt out of pitching in to buy back, which in turn would discourage their competitor grays from participating.

Doubt watch manufacturers are doing this either. Rolex and Patek May have the financial coffers to do this, but doubt independents like FP Journ do. The independents are getting bid up just as much.

Money laundering is a real thing, but why would a public auction be the best venue. Even dirty money has to be earned and to some degree is scarce. Organized cartels would want, like anyone else, the greatest value for their $. With lots of grays willing to sell for crypto there are definitely better ways than a Christie’s auction for this to be the predominant force for the prices.

Finally back to arbitrage. Many of the sales were international: Taiwan, HK, Germany, Vietnam, Canada, and others were referenced many times through the sale. Perhaps international buyers don’t have the same access or trust in institutions like Chrono24, or US based grays. Would you buy from a gray website in Taiwan? Names like Sotheby’s and Christie’s have more global reputations, hence the huge premiums.
If this last theory is true it suggests the watch market continues to be strong, and there is a huge global enthusiasm for watches.

[rolex16]

Those prices don’t mean anything because they are not from a trusted grey in this forum. We know that is the only true barometer. Right?

[aczaja10]

Originally Posted by brandrea

My butler was dusting my laptop, I missed the entire auction

ROFL! This gave me a great laugh. Reminds me of the scene from Weekend at Bernie’s.

[emersm]

Originally Posted by TswaneNguni

Prices are dropping ...

Right!

[NachoNeal]

The amount of incorrect financial advice and horrible economic predictions on this forum is simply staggering.

[Mr. K]

Originally Posted by GB-man

Anyone wants to arbitrage this I have a 2022 blnr for sale 21k to your door

Yeah... And I have a Hulk I'd part with for $37,799

[Edfrozen]

Just go to a Rolex dealer and try and buy a watch
No luck , eh?
You’re all wishing the market lower but there are still no watches to be had
Demand is still far outstripping supply

If you ever again could “ negotiate “ a Rolex for a discount at a Rolex dealer, you’ll have much bigger problems , like how to feed your family.

Beware of what you wish for.

If all luxury goods as well as collectibles and the stock market and bitcoin, and gold and silver decline dramatically, they’ll be blood in the streets

[rolex16]

Originally Posted by Edfrozen

Just go to a Rolex dealer and try and buy a watch
No luck , eh?
You’re all wishing the market lower but there are still no watches to be had
Demand is still far outstripping supply

If you ever again could “ negotiate “ a Rolex for a discount at a Rolex dealer, you’ll have much bigger problems , like how to feed your family.

Beware of what you wish for.

If all luxury goods as well as collectibles and the stock market and bitcoin, and gold and silver decline dramatically, they’ll be blood in the streets

No there won’t. There wasn’t blood in the streets in 2014 was there? A pullback is necessary, inflation has been out of control for too long. The markets will rebound at a healthier pace, as they always do.

[ndrs63]

Auction is definitely not an indicator of where prices are heading. I do think this one was rigged


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[GGGMT]

Originally Posted by brandrea

My butler was dusting my laptop, I missed the entire auction

This is good


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[mountainjogger]

Originally Posted by mountainjogger

I wondered where Paul got off to. Is he good a dusting?

Paul is clearly AWOL. Hope he is ok.

[77T]

Episodic auction spikes don’t make sense to us. Rational collectors see these models trading for much less. Light headed bidders is my thought.

Occam Razor: consider the simple theory versus wilder theories.

Simply put, people bid to those levels because they may:
- want one so badly that they will pay the price.
- don’t care about the price (it may be a thousands of a % on their wealth report.


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