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Think about it this way
In the art world, people want "rare and in demand" --- something unique and yet recognizable. Cy Twombly pieces, that look silly but sell for 20 30mn.
In the watch world, the super rich collectors have a lower price of admission (there are few watches 1mn plus, while there are thousands of paintings worth that). Collectors want familiar -- Rolex & Patek -- yet rare --- a line on the dial here, esoteric thing there.
So the bidding wars continue on such pieces, which is not really a reflection on all vintage or on all high end, but rather the value of a esoteric Rolex or Patek. Madness takes over and all it takes are a few rich bidders for whom 50 100 150k is all the same, all a rounding error, and up up up we go.
Rolex Explorer Super Precision, 5500 ????
102 ROLEX Explorer Super Precision, 5500, stamped 1002 inside the case back, Stainless steel, 196333mm. Diameter Calibre: Automatic, cal. 1530, 26 jewels Case, dial, movement and bracelet signed Estimate CHF5,000 - 8,000 SOLD FOR CHF28,750 Ok this is a gr...
Its simple.....
.....the bidding got this wrong. One way or another, this is just mis-information and hype.
I've only seen and heard of "Super Precision" on the dial of the 5504 Explorer (36 mm Ø)
I never saw a 5500 Explorers with other than "Precision" dials. Confusingly, the 5504 Explorer is also correct with just "Precision" on the dial as well.
Super Precision vs. Precision vs. blank
My understanding is that "Super Precision" denoted a 26 jewel movement (which was COSC capable but not certified) while "Precision" or blank/unmarked meant it had the lower grade 17 jewel movement.
Thank you Bill, I try to be useful ;-)
A far as the hammer price, there were clearly a couple people in the room that desperately wanted this and other Rolex pieces. This may be the nicest example of a 5500 Explorer (Super Precision & Underline) I think the price is outrageous though. For pers...
It really gets you thinking about who these buyers really are. Notice how quiet things are
There is not a huge amount of posts drawing light on the actual aspects of the watch but just rather keeping quiet so as not to be the next seller that gets his item scrutinized by the established community.
It is not too surprising.
A lot of the vintage game is artificial bubbles and pump-and-dump. If you want to perpetuate overvaluation and fake rarity, hoard-and-hide is the way to go. Think diamonds and penny stocks.
But it is good for collectors like us,
That the beginners waste their money on these things and leave the good stuff for us!
Think about it this way
In the art world, people want "rare and in demand" --- something unique and yet recognizable. Cy Twombly pieces, that look silly but sell for 20 30mn. In the watch world, the super rich collectors have a lower price of admission (there are few watches 1mn...