Poky
1248
Watch auction
May 09, 2017,12:58 PM
I have never purchased a watch from an auction. I have seen 4 Pateks which have caught my eyes and I am very tempted to bid on them. The description says all of these watches have the relevant papers.
Does anyone have any experience of purchasing a watch from an auction? Are there anything specific that one needs to be aware of?
Many thanks for your input
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Watch auction
By: Poky : May 9th, 2017-12:58
I have never purchased a watch from an auction. I have seen 4 Pateks which have caught my eyes and I am very tempted to bid on them. The description says all of these watches have the relevant papers. Does anyone have any experience of purchasing a watch ...
auctions
By: Tony C. : May 9th, 2017-13:34
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 he...
Very useful tips
By: Poky : May 9th, 2017-16:21
Thank you Tony. Sounds like it is not as easy as I had first imagined.
First off
By: keks : May 9th, 2017-13:37
make sure you trust the auction house. Generally this is not an issue if one of the major houses or a local house you are familiar with. Secondly, if you are not able to personally inspect the piece or have someone you trust go inspect it, then ask the au...
Read the condition report
By: Joepny : May 9th, 2017-14:17
and ask questions if something is missing or not clear. If you don't get a response then that's a sign you should pass. There are some houses that won't give judgement whether something has been restored/re-dialed so keep that in mind. Know your upper lim...
Can't add much more than these posts
By: watch-guy.com : May 9th, 2017-15:55
Do your homework See the watches irl or get some one you trust to view them Work out prices incl conversion commission taxes vat Julian
Sounds like a lot of homework
By: Poky : May 9th, 2017-16:29
Now I understand why some of the dealers in the second hand market mark up their prices. Thank you
Be realistic ....
By: watercolors : May 10th, 2017-03:54
prepare for the unexpected, have a strategy to deal with dishonesty. For example: no papers, incomplete info, franken parts etc. If you're lucky it will be a win win resolution. Enjoy your purchase. Best Regards Edward
You've had an excellent feedback from our fellow purists
By: Mark in Paris : May 10th, 2017-09:27
I can't add much more except that in such well-known auctions, if there is something to buy (i.e. price is interesting) pro sellers will be there to catch it too. If they stop bidding, it means it is too high. I would then say that you can be lucky with w...
Auctions?!
By: sham1 : May 10th, 2017-10:07
I have only bought one watch ever via an auction and my advice is that you should have some money put aside in case the watch needs a service or a repair. I spent £850 on a vintage IWC and another £1,450 after sending the watch back to IWC to have the wat...
That is what I had thought.
By: Poky : May 10th, 2017-12:04
It may cost me more than what I could get at a dealer but some of the examples will be difficult to get.
One more important suggestion: if possible bring with you a ...
By: GLau : May 12th, 2017-08:11
PuristS friend who is familiar with buying at auctions Last year I bought my first auction piece after having attended previous ones as an onlooker. PuristS conkers gave me invaluable bidding advice and Keks gave amazing moral support ! Whether you buy o...
Hi keks, The pleasure was all mine !
By: GLau : May 12th, 2017-17:56
The (steel) jungle (Hong Kong) is waiting for you as there is an auction by Phillips at end of May. Cheers, Gordon
Yes I remember it well.
By: Conkers : May 12th, 2017-18:55
Was fun! Lots of auctions coming up and I am sure I will be busy!
Hi Gordon, the dates are
By: riverside / Henry : May 13th, 2017-17:22
The Hong Kong Watch Auction: FOUR Auction 30 May 1pm & 6pm HKT Mandarin Oriental Hong Kong 5 Connaught Road, Central, Hong Kong Public Viewing 25 – 29 May Thursday – Monday 10am-6pm Henry
Henry/Gordon......
By: Conkers : May 17th, 2017-17:47
I will go to Phillips and Christies previews on Sunday 28th May. Any good for you? Rgds Roger
I didn't read this till now.
By: riverside / Henry : May 29th, 2017-06:58
Sorry to have missed both of you. However, we can always arrange a day. Regards, Henry
auction purchases
By: PPJames : May 16th, 2017-05:20
I have purchased 100's of high end watches at auction. BUYER BEWARE!! All good advice give here. I do try to inspect each watch I bid on, if possible. Although when I do I take my phone and use the camera (with zoom) to inspect the case, dial, movement. N...
Beware of Christies Geneva
By: jim vancouver : May 17th, 2017-19:36
It is preferable to inspect the goods in the flesh. However, there are times when you won't be able to attend in person. I find that Sothebys CR tend to be trustworthy. And, they post a reasonable size photo on line. On the other hand, Christies offers on...