Anyone follow Phillips yesterday ?

Jun 29, 2020,00:56 AM

Decent outcomes for Piguet ....curious thoughts on the 15500 sale price / including 25% hammer that seems like nuts price . Any reason? You get brownie points with auctions house or something like build credentials for bigger pieces ?
Can’t figure out why you’d pay way above market for legit reasons anyhow

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Ehhhhhh well its because ehhhhhhh

 By: Watchonthewrist : June 29th, 2020-01:24
Tbh I really don’t know πŸ€·πŸ»β€β™‚οΈ

The same happened with several modern Rolex pieces

 By: countzero : June 29th, 2020-01:43
As to why, beats me, really.

+1 πŸ‘ [nt]

 By: holdemchamp1225 : June 29th, 2020-14:05

Could be

 By: countzero : June 29th, 2020-19:26
In that case the discounts would probably be acceptable in the range of 40%-50% (e.g. paying 33,750 CHF for a clean watch with a grey market price of ~$14k [BLRO]; or 25,000 CHF for ~$17k [BLNR]). Still, even that potential explanation does not quite expl... 

Sure! It is interesting to speculate.

 By: countzero : July 1st, 2020-19:57
May be some of this going on, if not with the steel sports models then with some of the more expensive pieces (although liquidity - ease of selling - would always be a consideration). Perhaps seeing all the crazy results on vintage Rolex/Patek just makes ... 

Very strange indeed some of these results

 By: Maltie : June 29th, 2020-02:15
Maybe some buyers trust an auction house more then Chrono24 πŸ˜‚

Emotional factor?

 By: jmpTT : June 29th, 2020-05:18
With COVID-19 everyone’s day to day living expenses are way down, so there are people who now have extra money on hand and it is easy to get carried away when you want to win something at a prestigious auction. Phillips certainly carries some prestige in ... 

Not really [nt]

 By: redcorals : June 29th, 2020-05:48

LOL [nt]

 By: nwk00 : June 29th, 2020-06:50

Well, there are hard limits on moving money offshore from mainland China.

 By: Jay (Eire) : June 29th, 2020-17:43
There are plenty of workarounds of course, and associated β€œtaxes”. Charging one’s card at Phillips and picking up your watches in HK or Geneva sounds like one of the easier routes to follow. This auction had many strange results but honestly pretty much e... 

+1, Jay. [nt]

 By: amanico : June 29th, 2020-22:56

Wat fascinates me is no one even bothers to scrutinize these laundromats. Its been apparent since 2013. Pateks were always the conduits just like Macao casino chips with small haircuts. Now its spilling over to all the rest. [nt]

 By: redcorals : June 30th, 2020-05:01
With traveling restrictions in place and lockdowns how does one scream 'Get me out at any price'. Dont forget No more Aussie real estate to the rescue.

It seems rather strange for models still widely available

 By: Bill : June 29th, 2020-09:05
I guess we can say exuberant buyers.