ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX

Gold Coast · 13 November 2016, 04:20 PM

Any thoughts to why auction prices seem so much higher than the retail prices for vintage pieces? As an example, yesterday at the Phillips auction a 1675 sold over 2X the estimate, https://www.phillips.com/detail/ROLEX/CH080216/23, also a 5512 was almost 2X the estimate, https://www.phillips.com/detail/ROLEX/CH080216/46.

themaninblack · 13 November 2016, 08:15 PM

The estimates look ridiculously low, especially on a gilt 1675. CHF 5000-7000 estimate is just silly.

exador · 13 November 2016, 10:18 PM

You forgot this one. Estimate was "North of 3,000,000 CHF".
https://www.phillips.com/detail/PATE...PE/CH080216/38

Vincent65 · 13 November 2016, 11:24 PM

One word: hype.

Gold Coast · 13 November 2016, 11:42 PM

Wow that Patek went for 11M! Incredible!

fusionstorm · 14 November 2016, 02:10 AM

Quote:

Originally Posted by exador

You forgot this one. Estimate was "North of 3,000,000 CHF".
https://www.phillips.com/detail/PATE...PE/CH080216/38

One of only 4 stainless steel examples ever produced of the 1518, and this was the only one of the 4 that had yet to hit the auction block. Even Patek Philippe doesn't have one of these in their own museum. Wowzers!!!

cajunron · 14 November 2016, 07:54 AM

Sold for $11,002,000 CHF! Highest price ever for a wristwatch.

77T · 14 November 2016, 08:24 AM

Quote:

Originally Posted by fusionstorm

One of only 4 stainless steel examples ever produced of the 1518, and this was the only one of the 4 that had yet to hit the auction block. Even Patek Philippe doesn't have one of these in their own museum. Wowzers!!!

Yes and perhaps that vacant display at the PP Museum will now be filled. Such a price may have been paid by PP itself?

Sent from my iPhone using Tapatalk

Tools · 14 November 2016, 09:26 AM

PP has been well known for up-bidding their own products over the years.

Auctions are seldom a place to go for good deals.

fusionstorm · 14 November 2016, 04:18 PM

Wouldn't be surprised if the Patek folks tried to buy this privately, then kept tabs (or even participated) on the bidding. I suspect they probably tapped out at some point and let whichever billionaire collectors fight it out to win this...........

Gold Coast · 14 November 2016, 05:54 PM

Perusing the sold prices, a Tiffany Panda dial Daytona sold for CHF 874k! Looks like no slowing down in the vintage market, at least at auctions.

https://www.phillips.com/detail/ROLEX/CH080216/30

Robbyvm · 14 November 2016, 10:48 PM

[QUOTE=Gold Coast;7141299]Perusing the sold prices, a Tiffany Panda dial Daytona sold for CHF 874k! Looks like no slowing down in the vintage market, at least at auctions.

and for exceptional pieces...

77T · 14 November 2016, 10:57 PM

One classic sign of a market "bubble" is overheated demand for non-essential baubles - vintage watch values may be headed there. I believe there is less true scarcity despite seldom seeing some models cross the block. The pent-up demand may shake loose other examples that are locked up in vaults across the world.
The PP value is an outlier but the others are higher than perhaps 1-2 years ago.

13 November 2016, 04:20 PM	#1
Gold Coast "TRF" Member Join Date: Jun 2016 Location: Zürich Watch: 126500LN Posts: 72	Phillips Auction Prices Any thoughts to why auction prices seem so much higher than the retail prices for vintage pieces? As an example, yesterday at the Phillips auction a 1675 sold over 2X the estimate, https://www.phillips.com/detail/ROLEX/CH080216/23, also a 5512 was almost 2X the estimate, https://www.phillips.com/detail/ROLEX/CH080216/46.

13 November 2016, 11:24 PM	#4
Vincent65 "TRF" Member Join Date: Aug 2012 Location: Switzerland Posts: 14,293	One word: hype. __________________

14 November 2016, 07:54 AM	#7
cajunron 2024 ROLEX DATEJUST41 X2 Pledge Member Join Date: Nov 2009 Real Name: Ronnie Location: Southeastern USA Watch: Omega Seamaster PO Posts: 3,853	Sold for $11,002,000 CHF! Highest price ever for a wristwatch. __________________

14 November 2016, 09:26 AM	#9
Tools TRF Moderator & 2024 DATE-JUST41 Patron Join Date: May 2007 Real Name: Larry Location: Mojave Desert Watch: GMT's Posts: 43,049	PP has been well known for up-bidding their own products over the years. Auctions are seldom a place to go for good deals. __________________ (Chill ... It's just a watch Forum.....) NAWCC Member

14 November 2016, 04:18 PM	#10
fusionstorm "TRF" Member Join Date: May 2009 Location: Piedmont, CA Watch: various vintage Posts: 2,272	Wouldn't be surprised if the Patek folks tried to buy this privately, then kept tabs (or even participated) on the bidding. I suspect they probably tapped out at some point and let whichever billionaire collectors fight it out to win this........... __________________ 1680 MK II 2.2M (my daily); 1655 MK IV 8.1M (my 1st vintage); 16660 x 4 - 8.0M spider & matte 7.4M, 8.0M, 8.0M; 16610LV F MK I/MK I; 116528 Z; 14060 M COSC; Tudor 75090 Gone.....never forgotten: 14000 F, 14060 V COSC, PAM 048, 16623 F, 1680 MK V 3.1M, 16800 matte 8.3M & 1655 MK IV 7.4M

13 November 2016, 08:15 PM	#2
themaninblack "TRF" Member Join Date: Sep 2014 Location: Australia Posts: 1,058	The estimates look ridiculously low, especially on a gilt 1675. CHF 5000-7000 estimate is just silly.

13 November 2016, 10:18 PM	#3
exador Banned Join Date: Dec 2014 Location: NZ Posts: 2,600	You forgot this one. Estimate was "North of 3,000,000 CHF". https://www.phillips.com/detail/PATE...PE/CH080216/38

13 November 2016, 11:42 PM	#5
Gold Coast "TRF" Member Join Date: Jun 2016 Location: Zürich Watch: 126500LN Posts: 72	Wow that Patek went for 11M! Incredible!

14 November 2016, 05:54 PM	#11
Gold Coast "TRF" Member Join Date: Jun 2016 Location: Zürich Watch: 126500LN Posts: 72	Perusing the sold prices, a Tiffany Panda dial Daytona sold for CHF 874k! Looks like no slowing down in the vintage market, at least at auctions. https://www.phillips.com/detail/ROLEX/CH080216/30

14 November 2016, 10:48 PM	#12
Robbyvm "TRF" Member Join Date: Jan 2012 Location: Belgium Posts: 2,239	[QUOTE=Gold Coast;7141299]Perusing the sold prices, a Tiffany Panda dial Daytona sold for CHF 874k! Looks like no slowing down in the vintage market, at least at auctions. and for exceptional pieces... __________________ Instagram : robbyvm Pinterest : robbyvanmele

14 November 2016, 10:57 PM	#13
77T 2024 ROLEX DATEJUST41 Pledge Member Join Date: Dec 2010 Real Name: PaulG Location: Georgia Posts: 40,725	One classic sign of a market "bubble" is overheated demand for non-essential baubles - vintage watch values may be headed there. I believe there is less true scarcity despite seldom seeing some models cross the block. The pent-up demand may shake loose other examples that are locked up in vaults across the world. The PP value is an outlier but the others are higher than perhaps 1-2 years ago. __________________ Does anyone really know what time it is?

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)