maberlin
44
Good Analysis Bill
The older a piece, the more likely it is to have major defects or replacement parts, which is why older pieces that are in true original condition are so valuable. It is rather unusual to see a defect like the missing logo on a watch produced so recently, and it is rather sloppy of Sotheby's to not mention it in the condition report. I actually wrote to the specialist to let him know that, given the missing logo, it hardly seemed appropriate to say "dial in very good condition" in that condition report, but so far, they have not modified it.
I happen to collect mostly watches that are no longer sold new, and any time you buy a used watch, the appropriate phrase is Caveat Emptor.
Case study on bidding at auction...
There are many ways to purchase a fine timepiece, and all can be a great way to bring interesting watches into a collection: brand new from a brand boutique or authorized retailer, preowned from secondary dealers, collector to collector, and at auction. I...
Good Analysis Bill
The older a piece, the more likely it is to have major defects or replacement parts, which is why older pieces that are in true original condition are so valuable. It is rather unusual to see a defect like the missing logo on a watch produced so recently,...
Thanks for this useful post, Bill
For the inexperienced, the auction process can be a bit daunting, let me tell you. This example you discuss is a good example. As Mike also pointed out, the condition report mentions the dial is good condition, but clearly that is not the case. One photo ...
Thank you Bill
Great article. I have never bought from auctions before but am learning something new. I heard from a friend VC also refurbishes vintage VC and sells them in restored conditions with new boxes and papers in their boutiques. Is that true? I guess only in t...
Vintage VC's at VC boutiques
Hi Robin, You are correct about Vacheron Constantin offering vintage timepieces through their boutiques. However, that distribution is extremely limited: only the Geneva and NY boutiques offer these pieces at this time. They come with certificate, box, an...
Hour Club
Hi Bill Ah so NY and Geneva. I probably can visit NY for work at some point. Will drop by the boutique. On Hour Club - I logged in but couldn't see the vintage pieces under the collection page. Maybe I was looking at the wrong section. There will be 2 VC ...
I've just been told that the Shanghai boutique sells vintage pieces as well...
Enjoy your dinner with Alex and friends (I've to to visit Singapore one day, just to see the watches). Bill
Thanks bill for sharing your experience
you can never be too careful regarding auctions and second hand watches. I didn't experience this kind of way to purchase a watch yet but it will be tough for the nerves for sure :p Cheers, Mark
Great Primer, Bill
Thanks for this overview of the process. The major auction houses continue to raise their buyer's and seller's premiums (now approaching 40% combined) but don't always provide services appropriate for such high fees. Witness your inaccurate description re...