ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
5 May 2021, 02:35 AM | #1 |
"TRF" Member
Join Date: Nov 2011
Location: Paris
Posts: 3,530
|
Philips The Geneva Watch Auction: XIII
My friends. I was browsing the watches Philips has listed online but the thing I noticed is that a lot of estimates are even lower than before.
So what's the point? https://www.phillips.com/auctions/auction/CH080121 |
5 May 2021, 03:01 AM | #2 |
Banned
Join Date: May 2012
Real Name: CJ
Location: Kashyyyk
Watch: Kessel Run Chrono
Posts: 21,113
|
They do this on purpose so headlines can read better, people attend, and commissions are higher if they exceed a % over the agreed estimate or reserve.
Estimates are all BS. |
5 May 2021, 07:35 AM | #3 |
2024 Pledge Member
Join Date: Apr 2008
Real Name: Rommel
Location: Toronto Canada
Watch: 116710LN
Posts: 8,962
|
Agree with CJ here. Similar tactic used to low / no reserve eBay auctions or the current Canadian housing market. More people feel as if they have a chance, thus are (hopefully) more included to place a bid.
Of course, the most obvious is they would rather pieces sell for more than the estimate. This serves as a great way for people to have items sold by the auction house in the future with hopes the same will happen. At the end of the day though that's just my opinion and only time will tell. Who knows, some pieces might not even sell for the estimated amounts. It's why I love following these types of auctions to see what actually ends up happening. |
9 May 2021, 02:22 AM | #4 |
"TRF" Member
Join Date: Nov 2011
Location: Paris
Posts: 3,530
|
Crazy numbers. I'm amazed by other results as well.
|
9 May 2021, 05:12 AM | #5 |
"TRF" Member
Join Date: Nov 2016
Location: San francisco
Posts: 12
|
Insane prices...
|
9 May 2021, 05:43 AM | #6 |
2024 Pledge Member
Join Date: Nov 2012
Real Name: Steven
Location: Glocal
Posts: 19,401
|
Auctions are a company's opportunity for PR schemes. Patek are experts at auction manipulation to achieve headlines, when in fact they themselves are buyers.
__________________
__________________ “Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming 'Wow! What a Ride!'” -- Hunter S. Thompson Sent from my Etch A Sketch using String Theory. |
9 May 2021, 05:48 AM | #7 |
"TRF" Member
Join Date: Nov 2018
Location: Europe
Posts: 3,223
|
Understandably so. Patek are probably just as tired of standing in line and not being able to buy at MSRP from the AD as everybody else is.
|
9 May 2021, 07:24 AM | #8 |
2024 Pledge Member
Join Date: Nov 2012
Real Name: Steven
Location: Glocal
Posts: 19,401
|
the older models we know PP buys to claim the whole historic thing to keep the dream alive, and would not be surprised about newer ones here and there. Of course auctions as a vehicle for money laundering has been brought up quite a few times.
__________________
__________________ “Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming 'Wow! What a Ride!'” -- Hunter S. Thompson Sent from my Etch A Sketch using String Theory. |
9 May 2021, 08:25 AM | #9 |
"TRF" Member
Join Date: Aug 2019
Real Name: Bill
Location: NYC
Posts: 1,735
|
A Patek 5164A Aquanaut Travel Time sold for the equivalent of approximately US $95K.
These auction results are a bit of a double-edged sword. While it’s nice to see the increased valuations, I have to admit I’m beginning to feel uneasy about wearing certain watches on days when I have to be out in public for longer than normal. |
12 May 2021, 02:43 AM | #10 |
"TRF" Member
Join Date: Dec 2014
Location: Los Angeles
Watch: Netflix
Posts: 3,977
|
Just for clarification are these final price with buyers premium?
|
12 May 2021, 02:49 AM | #11 |
"TRF" Member
Join Date: Nov 2018
Location: Europe
Posts: 3,223
|
|
12 May 2021, 02:16 PM | #12 |
"TRF" Member
Join Date: Jan 2015
Real Name: Berty
Location: NI/Aust/USA
Watch: and wait
Posts: 3,038
|
I hear
all that and agree but what is the pitch to the vendor to convince them they will get market value as usually reserves are the lower estimated amount.
__________________
Permanent social programs that finance and enable poor life choices usually keep the “intentions matter more than results” crowd in control. Never argue with a fool, as eventually it will be difficult to tell the difference. |
12 May 2021, 03:46 PM | #13 | |
Banned
Join Date: May 2012
Real Name: CJ
Location: Kashyyyk
Watch: Kessel Run Chrono
Posts: 21,113
|
Quote:
Usually, the best pieces get preferred terms etc. The buyers premium is also split at times if the item draws many other sellers out of the woodwork. Kinda like a main event and then there’s the undercards. In the end it’s about money. |
|
13 May 2021, 07:59 AM | #14 | |
2024 Pledge Member
Join Date: Jul 2017
Location: West Coast
Posts: 1,139
|
Quote:
and we know their due diligence on vintage is sub-par. |
|
13 May 2021, 08:49 AM | #15 |
Banned
Join Date: May 2012
Real Name: CJ
Location: Kashyyyk
Watch: Kessel Run Chrono
Posts: 21,113
|
|
13 May 2021, 10:15 AM | #16 |
2024 Pledge Member
Join Date: Nov 2012
Real Name: Steven
Location: Glocal
Posts: 19,401
|
But...but... it's rare and highly desired... don't you believe them?
__________________
__________________ “Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming 'Wow! What a Ride!'” -- Hunter S. Thompson Sent from my Etch A Sketch using String Theory. |
14 May 2021, 03:33 PM | #17 |
Banned
Join Date: Jul 2014
Location: Bethesda
Watch: Apple TV
Posts: 5,744
|
16518 @ $36k is actually about what I think it is worth. Some prices are high but some of the low volume references it is nice to have validation beyond chrono24, david, ebay, and watch recon
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
Thread Tools | |
Display Modes | |
|
|
*Banners
Of The Month*
This space is provided to horological resources.