Tony C.
1239
auctions
May 09, 2017,13:34 PM
First, be sure to research the fees, as "buyer's premiums" can be quite high, and especially given an expensive lot. Also consider the tax ramifications (e.g. if you are in the E.U., win a foreign auction and have the watch shipped, you'll be penalized heavily).
Secondly, never assume that the description of a watch, including the "condition" report, to be accurate. Many "specialists" employed by auction companies know far less than experienced collectors about many watches. Ideally, and especially in the case of potentially expensive pieces, one should visit the house, and inspect the watch(es) in person. If that is not possible, try to find a reliable proxy who can do it for you, as even a (reasonable) fee would be worth paying in order to receive a reliable opinion.
Third, bid live, if possible. Leaving an absentee bid is always on option, but it is impossible to gain a feel for the auction with such a bid, which rules out the possibility of making spontaneous adjustments, and/or employing bidding strategies.
Finally, if you do choose to bid without personally eyeballing the watch(es), demand high-quality images of every important component of the watch, i.e. dial, case (front, side, and rear), inside of the case back, and movement. If an auction house fails to provide any of the requested photos, don't bid!
Regards,
Tony C.