Ever purchased at auction from Sotheby's or Christie's?

[HeyItsRaymond]

Has anyone ever purchased a Rolex from an reputable auction house like Sotheby's or Christie's?

Ayn suggestions? Tips? Advice?

This Milguass seems like a good deal.

Estimated sale of $4,000 to $5,000


http://www.sothebys.com/en/auctions/...1/lot.118.html

[giovannimola]

I wouldnt bother you can get one from davidsw right now for $5.5k or just use aka takuya. Much more peace of mind and better pictures!


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[Abdullah71601]

Originally Posted by giovannimola

I wouldnt bother you can get one from davidsw right now for $5.5k or just use aka takuya. Much more peace of mind and better pictures!


Sent from my iPhone using Tapatalk

Or get a new one for $7K and have a five year warranty and your name on the BOS.

[tritium8]

Also, auction houses usually charge significant fees.

[THC]

Agree, no need to go to Christie's or Sotheby's for a Milgauss of any watch... Too many awesome deals here

[Star Ferry]

I wouldn't trust Sotheby's or Christie's to brew me a cup of coffee

These are companies that:
- Charge hefty fees
- Have auctioned stolen goods
- Have auctioned lots that are counterfeit or otherwise misrepresented

Any warranty they offer is quite limited. Sophisticated buyers will do their own due diligence on a lot, and I think most others should buy elsewhere

[KarlS]

Originally Posted by Star Ferry

I wouldn't trust Sotheby's or Christie's to brew me a cup of coffee

These are companies that:
- Charge hefty fees
- Have auctioned stolen goods
- Have auctioned lots that are counterfeit or otherwise misrepresented

Any warranty they offer is quite limited. Sophisticated buyers will do their own due diligence on a lot, and I think most others should buy elsewhere

Phew that's quite a statement!!! I may not have purchased watches from an auction house but I have a significant art collection (including a number of Rodins), that have been purchased from both houses and Bonhams. I think the sophisticated buyer does exactly the opposite of what you say as on high value items, provenance is paramount and this is normally researched by the house, their experts have a view as they are committing their reputation to the lots sold and generally genuine high end sellers would not look or be afraid of having their items assessed by them as they will generally pick up counterfeit items quickly. Yes I am aware of Auctionata being less than helpful on lots that were perhaps not of the quality advertised but they are certainly not in the same league as the 2 mentioned. Sure all auction houses have sold counterfeit items...nobody actually knows how many real Miro's / Picasso and Dali's are actually out there but one thing I know that judging by the amount I have seen that are original all those artists would have had little elves helping them 24 hours a day!!

They do charge 25% to the buyer and a similar amount to a seller so they are truly the only ones that benefit. Having used them on both sides of the trade I think you probably intend this to be tongue in cheek versus objective fact.

[Star Ferry]

Originally Posted by KarlS

Phew that's quite a statement!!! I may not have purchased watches from an auction house but I have a significant art collection (including a number of Rodins), that have been purchased from both houses and Bonhams. I think the sophisticated buyer does exactly the opposite of what you say as on high value items, provenance is paramount and this is normally researched by the house, their experts have a view as they are committing their reputation to the lots sold and generally genuine high end sellers would not look or be afraid of having their items assessed by them as they will generally pick up counterfeit items quickly. Yes I am aware of Auctionata being less than helpful on lots that were perhaps not of the quality advertised but they are certainly not in the same league as the 2 mentioned. Sure all auction houses have sold counterfeit items...nobody actually knows how many real Miro's / Picasso and Dali's are actually out there but one thing I know that judging by the amount I have seen that are original all those artists would have had little elves helping them 24 hours a day!!

They do charge 25% to the buyer and a similar amount to a seller so they are truly the only ones that benefit. Having used them on both sides of the trade I think you probably intend this to be tongue in cheek versus objective fact.

Karl, yes my tongue was firmly planted in cheek re. the coffee comment

For art, I understand the service the auction houses provide, but for a production Rolex I'd personally choose ebay where a full money back guarantee is offered on all listings

[KarlS]

Originally Posted by Star Ferry

Karl, yes my tongue was firmly planted in cheek re. the coffee comment

For art, I understand the service the auction houses provide, but for a production Rolex I'd personally choose ebay where a full money back guarantee is offered on all listings

[HeyItsRaymond]

Originally Posted by KarlS

They do charge 25% to the buyer and a similar amount to a seller so they are truly the only ones that benefit. Having used them on both sides of the trade I think you probably intend this to be tongue in cheek versus objective fact.

I didn't realize they also charge the buyer a commission/fee.

Thank you for your advice.

[KarlS]

Originally Posted by HeyItsRaymond

I didn't realize they also charge the buyer a commission/fee.

Thank you for your advice.

sadly the Buyer pays 25% and there is a sliding scale and it is dependant on where the auction is held + VAT on the commission bit and then the seller has to pay 15-25% so the auction houses basically make between 40-50% on each item.

[Andad]

Having just researched SR's comments it looks as if he scores 3/3.

[joli160]

Nah, I believe in trusted sellers being more knowledgable and no "hidden" fees like VAT on the commission.

[Wisher]

I was assuming from the question that the OP wanted some kind of special, antique, rare watch. I have no experience using auction houses ,but buying from them to try to get a "bargain" price sounds like a hassle, and may never end up being a bargain in the end.

[Boaters]

Auction house has a lot of fees why not deal with a Trusted Seller?

[tigerpac]

Also consider there are often customs/import fees if you're buying from overseas. E.g. the Geneva sales from last weekend.