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28 June 2020, 12:28 PM | #1 |
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Crazy results from Phillips Geneva Watch Auction
Widely available watches going multiples over used/grey prices. What gives? People have cash to burn?
https://www.phillips.com/auctions/auction/CH080120 |
28 June 2020, 12:40 PM | #2 |
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Those numbers make no sense. A safari going for that??? I'm skeptical that there isn't something funny going on, which is not out of the ordinary for some of these auctions.
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28 June 2020, 01:15 PM | #3 |
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Posted this elsewhere... could be money laundering.
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28 June 2020, 01:51 PM | #4 |
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obviously...
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28 June 2020, 03:25 PM | #5 |
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Care to elaborate, because it isn’t obvious to me. I could believe the crazy Journe prices as money laundering, but several modern Rolex lots for tens of thousands doesn’t seem worth the risk. Is there something inherently more private about buying the same watch at an auction vs an online dealer?
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28 June 2020, 05:35 PM | #6 |
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28 June 2020, 04:13 PM | #7 |
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Auction prices have never been accurate....
Always stupid to base a purchase off of them. |
28 June 2020, 07:26 PM | #8 |
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Some of the SOLD FOR quotes from that Phillips auction have me wonder if they include the Buyer's Premium rather than just the Hammer Price.
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28 June 2020, 07:41 PM | #9 |
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But Lange sold low
Don't understand the lack of love there
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29 June 2020, 01:11 AM | #10 |
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29 June 2020, 01:42 AM | #11 |
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A 2012 white face Daytona 116520 with APH dial just went for £30,000!! I have a 2015 model, with APH dial and Chromalight lume. I'm now wondering what that would have achieved.
But then I came back to Earth.
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30 June 2020, 01:34 AM | #12 |
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30 June 2020, 01:45 AM | #13 |
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On the dial the word COSMOGRAPH has a small gap between the R and the A, making it look like the APH is a separate word.
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30 June 2020, 01:47 AM | #14 |
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29 June 2020, 02:55 AM | #15 | |
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29 June 2020, 04:53 AM | #16 |
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Do the listed prices include the auction fees that need to be paid on top of the sales price.
Hard to believe it represents money laundering-- the auction house would have to be a willing participant or maybe I don't understand how money laundering works. Also hard to believe all the manufacturers were over bidding in the same auction? It was not just one brand that went for a ridiculous price. |
29 June 2020, 05:17 AM | #17 | |
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29 June 2020, 08:02 AM | #18 | |
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OK got it.. I assumed the launderer was buying the watches with his dirty money and then selling them legitimately elsewhere even at a loss. But your scheme makes more sense..
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29 June 2020, 11:51 AM | #19 | |
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Quote:
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30 June 2020, 12:39 AM | #20 |
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A watch journalist friend of mine was there and I asked him what he attributed the inflated prices to. He replied with a picture showing the cars parked outside the Auction House.
He went on to say that some of the people who attended were willing to pay 30k a night on an hotel suite. If they saw something they liked, they bought it.
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30 June 2020, 01:29 AM | #21 | |
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I believe most of the stock was sold to phone bidders?
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30 June 2020, 05:36 AM | #22 | |
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I have heard for some high end events, the sponsors rent these cars for appearance sake. Wonder if they saw various owners come and go..
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30 June 2020, 02:14 AM | #23 |
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Any item is only worth what someone is willing to Pay for it. This is It ! I might be able to come with enough Cash to buy a Lug Nut on one of those Cars !
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30 June 2020, 02:24 AM | #24 |
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Eh, so what about the (eventually defective) car that was parked. Many were phone-in orders. Btw, Bugatti and Bentley's don't impress, as to me they say buyer beware (if you've ever dealt with Bentley defects, you know what i mean, a horrible company as had two Bentley cars... NEVER again!!!!!!!!!!).
Come to think about it, maybe your guy is right. Stupidity has many forms regardless of pricing.
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__________________ ----> Was Great Seeing Everyone At The TRF December 9 Tampa Meetup <---- https://www.rolexforums.com/showthread.php?t=968133 Love timepieces and want to become a Watchmaker? Rolex has a sensational school. www.RolexWatchmakingTrainingCenter.com/ Sent from my Etch A Sketch using String Theory. |
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