sham1
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Auctions?!
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 watch restored and serviced. Much to IWCs credit, the watch was then keeping time to within two seconds a day. Not bad for a 1947 IWC :-
All the best! And also make sure you have set your own upper limits at the auction and stick to them if possible as it is easy to get caught with the flow 
Watch auction
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
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
Thank you Tony. Sounds like it is not as easy as I had first imagined.
First off
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...
Wow, sounds like entering some dark territories
Important points you have made me aware of. Thank you
In my opinion, prices can be attractive at the first sight if you win the auction (I suppose you think about the next weekend Swiss auctions).
But when you add auction fees and VAT + import taxes, you can reach a final price well above your expectations. In my opinion, you have to really keep that in mind before placing a bid. And be cautious about the enthusiasm of auctions ;-) Best wishes Alki...
I am realising that the prices can be deceiving
Perhaps it is not as cheap as I had originally thought. Many thanks Alkiro
Read the condition report
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...
The more I am reading, the more I am realising that I should attend one of these auctions as a spectator first
It will give me some ideas of what it is like. The old saying "if something is too good to be true then it is not true" is resonating with me.
Can't add much more than these posts
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
Now I understand why some of the dealers in the second hand market mark up their prices. Thank you
I think that holds true in other fields as well - the auction circuit is a tricky one
I've never bought a watch, but I've been engaged in auto auctions, art auctions, general company bankruptcy/salvage auctions, etc. In general I have spent more than I intended. I've gotten more items than I planned to buy. The quality has been equal or le...
25% buyers commission kills it for me!!!
If you want something impossible to get then this is the route otherwise seldom found a bargain.
Be realistic ....
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
I add one more comment to the very helpful suggestions others have made. Condition Reports can be extremely helpful, but not for the obvious reason.
If a CR gives a glowing assessment I would not so readily accept it as entirely accurate. If the CR points out negatives you can be virtually certain, what is stated is true.
You've had an excellent feedback from our fellow purists
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...
I am now having a second thought after all the feedback.
I have decided to attend one of these and get a feel for it before risking my hard earned cash. Some of the Pateks look so nice in the photos though. I need to be strong!
Auctions?!
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.
It may cost me more than what I could get at a dealer but some of the examples will be difficult to get.
check the watches in person if possible...
They know how to photograph the watch... Benjamin
One more important suggestion: if possible bring with you a ...
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 !
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.
Was fun! Lots of auctions coming up and I am sure I will be busy!
Gordon, Conkers, are you going to the preview and/or auction of Philips at the end of May?
In case you are, shall we meet there? Regards, Henry
Good idea Henry ! What are the dates for viewing for the auctions ?
Hope to catch up soon ! Cheers, Gordon
Hi Gordon, the dates are
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......
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.
Sorry to have missed both of you. However, we can always arrange a day. Regards, Henry
auction purchases
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
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...