25% premium is the norm at these levels. I know the wandering hour version (#2 of 3) sold for about US$60k via Phillips HK a while back and the same watch for CHF32k back in 2010.
By: Jay (Eire) : May 15th, 2019-19:26
The skeleton version, watch #10, fetched US$79k almost in 2012 at Christie’s. Watch #8 sold for closer to US$40k just a year before at Sotheby’s. But something in my memory tells me I’ve seen these go for far less, I just can find the details right now.
at the Geneva auctions that just ended last weekend were generally sold at about 20% above the estimates (inc buyers premium). The fact that the buyers premium is 25% indicates that the estimates were about right.
are terribly undervalued at auctions. Maybe the smaller sized ones just do not command as high a price as the larger sized cases but hey, they are still minute repeaters and ideal for the smaller wristed folk like me.
the reason being Christie's were kind enough to send me photos of the watch and the condition report confirmed that there was a ding on the case band at 9 o'clock which was off putting. For the record, both the above watches were sold for the same price - HKD 437,500.
The buyer's premium is usually 25% at the price level
By: sham1 : May 15th, 2019-21:49
Having observed auctions, I have noticed that many estimates are exceeded especially at Philips auctions where the estimates seem on the lower side.Of course some lots remain unsold but the majority do sell.
Can a ding on a watch case be repaired and be made to disappear? The star wheel above had a ding at the case band at 9 o'clock so I decided to refrain from bidding. The hammer price was HKD350,000 which was double its lower estimate and in excess of its higher estimate but that ding just put me off.