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13 December 2020, 03:21 PM | #1 |
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insane numbers from recent Phillips auction
You guys see the insanely high numbers from the recent Phillips auction?
I guess nothing new for anyone in this hobby over the past few years. But always kind of shocking to see the prices these watches actually sell for (and not just a placeholder listing on Chrono24 where you’re not sure if they are really selling at that price). As usual the real crazy money went to Pateks and Rolex. But looks like half the auction, from all brands, went way over estimates. https://www.phillips.com/auctions/auction/NY080120 |
13 December 2020, 03:42 PM | #2 |
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The BIG money from other passion asset classes (art..cars..etc) have wandered over to watches and see them as absolute bargains, so their essentially limitless funds will be directed towards horological trophies.
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13 December 2020, 11:07 PM | #3 |
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Crazy that pieces without the provenance brought what they brought -
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14 December 2020, 01:08 AM | #4 |
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A lot of very special watches went up for sale here. In some cases I'm not surprised and enjoyed following the results. Some very lucky individuals must be very excited, I'm sure.
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15 December 2020, 07:51 PM | #5 |
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How come Lot 12 the Zenith El Primero est 4-6k yet sold for $37,800!?
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15 December 2020, 10:12 PM | #6 |
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15 December 2020, 10:33 PM | #7 |
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15 December 2020, 10:07 PM | #8 |
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Crazy prices, must of been a feeding frenzy. Think there will be some buyers remorse.
Seems everything went for more than the estimate, except the lot to meet Sir Jackie Stewart. |
15 December 2020, 10:55 PM | #9 |
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I’ve followed / attended / participated in auctions for 6-7 years actively. Phillips B&R since they entered the space have always marketed very well, have always appeared to have better curated and higher quality lots and as a result have always seemed to achieve higher prices.
But this auction, and on average this seasons auctions from the other houses, have seemed to turn up crazier and crazier results. This is great for the auction houses, and there are many good people involved in those houses so good for them too. But, I really don’t know how some of these results actually happen especially when they are for pieces that are really nothing special. |
16 December 2020, 01:34 AM | #10 |
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Perhaps it's a combination of cash being trash and negative-yielding debt exceeding $18 trillion ($18,000,000,000,000). Add to that, trillions of new government handouts and central bank 'debt' being released each year for the foreseeable future. So yes, cash is trash. Obviously no smart investor would ever keep cash or hold onto government debt, and thus these actions make alternative investing a very good choice.
Have you noticed housing prices in areas where there's low tax burden? Within the USA billionaires are running away from Cali, NY, NJ, Il, etc, and going to TX, FL, etc where there's no State income tax. Frankly, am surprised anyone still lives in EU / UK with their highly oppressive tax structures. So yes, alternative investments such as timepieces, rare musical instruments (Neil Peart's drumset went for $500,000 recently), Banksey / artwork... and timepieces are smart alternatives to retaining the value of your hard work efforts.
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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. |
16 December 2020, 02:41 AM | #11 | |||
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You sound like an AM radio politics show bro. Chill out. Also get your facts right.
Quote:
Quote:
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Take care. |
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16 December 2020, 02:07 AM | #12 |
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No shortage of moneyed dimwits in my opinion.
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16 December 2020, 04:34 AM | #13 |
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WooWoo, good points and hopefully we can agree on one thing...
Too much money chasing too few assets.
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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. |
16 December 2020, 09:55 AM | #14 | |
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Quote:
Damn. don’t take the high road I was looking for a debate. :) All good. Yes you are right. we definitely agree on this. Way too much money, whether earned or printed, chasing too few assets. |
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16 December 2020, 11:02 AM | #15 |
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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. |
16 December 2020, 01:27 PM | #16 |
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One of my favorites. You have great taste enjoythemusic. Let’s be friends. https://youtube.com/watch?v=buqtdpuZxvk |
16 December 2020, 10:16 AM | #17 |
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Although most of the modern watches, the estimate is ridiculously low, $12k for Rolex BLRO, $20k for AP 15202 etc.
Although that 15202 sold for $163k, 2020 model with no provenance, no idea what’s going on there but can’t be right? Sent from my iPad using Tapatalk |
16 December 2020, 11:06 PM | #18 |
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Yes, let's be friends... and love the vid you posted :)
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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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