Going to an auction tomorrow.

[rhipsher]

In the jewelry list there are about 100 items. The two I'm interested in are two Rolex ladies date just watches. One is a SS date just with new style fluted bezel. And the second one is a two tone date just. I won't know what models they are or what condition they are in until I get my eyes on them. I'll have an hour to view items before the auction start. So we will see.

[116500LN]

Those are the lots that most people will bid on... good luck to you.

[locutus49]

Good luck and be careful: you might not know how it has been serviced, if at all.

[GB-man]

Good luck

[The Libertine]

Originally Posted by locutus49

Good luck and be careful: you might not know how it has been serviced, if at all.

Yup. As with any auction of this nature, "buyer beware".

[brandrea]

Sounds fun, good luck Ricky

[Jack T]

Have the items at least been authenticated?

[rhipsher]

Originally Posted by Jack T

Have the items at least been authenticated?

I'll know more after I view them. But there's also a rare 1964 green vinyl 45 Beatles record "Can't buy me love" framed with certificate of authenticity. First print in good condition is worth between $500 to $650. And rare comic books and guns. But I'm going bid on things I'm familiar with.

[rhipsher]

I got completely smoked in that auction. I had chosen $4,200 as my limit including the 12% buyers premium. I used my tax exempt status to avoid paying the 8.25% on top of that. The two tone 18k gold and stainless one went for $2,100. But the Stainless steel one with new style fluted bezel was absolutely beautiful and flawless. That's the one I was holding out on. But after it came up the bidding started at $7,500. So I was immediately shut out. I had $30k available to play with. But my hard head drew the line at $4,200. I passed on the two tone Rolex. I passed on a gorgeous 2.0 Karrot Opel diamond ring that sold for $1,125 and just to make.sure I had enough for that Rolex. In the end I walked away empty handed. The guy that bought that Rolex for $7,500 spent $20k on other jewelry that day.

[handsfull]

Auctions are one of the WORST places to purchase nearly anything. I remember going to the Rolex school closing down @ St. Paul Tech college. Much of the heavily used machines, equipment and hand tools were sold above retail - LOL. I scratched my head for days.
Went to several auto auctions available only to brokers - only 3-4 out of 40+ vehicles were priced nicely for their condition. Even eBay is silly lately....I see $25 gift cards to Starbucks (and many other retailers) selling for more than $25

[rhipsher]

Originally Posted by handsfull

Auctions are one of the WORST places to purchase nearly anything. I remember going to the Rolex school closing down @ St. Paul Tech college. Much of the heavily used machines, equipment and hand tools were sold above retail - LOL. I scratched my head for days.
Went to several auto auctions available only to brokers - only 3-4 out of 40+ vehicles were priced nicely for their condition. Even eBay is silly lately....I see $25 gift cards to Starbucks (and many other retailers) selling for more than $25

I own a machine shop here in Houston Texas. So I just dropped $42k on another CNC mill from the San Francisco bay area California. Paid cash for it. 16,000lbs. But it will double our milling capacity. A no brainier. All of the machine shops I know that financed everything are toast right now. But luckily we have diversified from oil and it has paid off. So I have a little denero to play with. Auctions are more of a hobby.

[rhipsher]

I could feel my wife's eye's burning a hole in the side of my face from the items I passed up for that Rolex I didn't get lol.

[MILGAUSS88]

Are you sure the buyer wasn't a shill bidder?
Sounds like the type of auction, where the fix is in.
Personally I don't trust any auction house that charges a premium.
I am not saying I don't buy at those auctions, but you better make sure you are smarter than the seller.

[locutus49]

I think you got off lucky.

Originally Posted by rhipsher

I got completely smoked in that auction. I had chosen $4,200 as my limit including the 12% buyers premium. I used my tax exempt status to avoid paying the 8.25% on top of that. The two tone 18k gold and stainless one went for $2,100. But the Stainless steel one with new style fluted bezel was absolutely beautiful and flawless. That's the one I was holding out on. But after it came up the bidding started at $7,500. So I was immediately shut out. I had $30k available to play with. But my hard head drew the line at $4,200. I passed on the two tone Rolex. I passed on a gorgeous 2.0 Karrot Opel diamond ring that sold for $1,125 and just to make.sure I had enough for that Rolex. In the end I walked away empty handed. The guy that bought that Rolex for $7,500 spent $20k on other jewelry that day.

[rhipsher]

Originally Posted by locutus49

I think you got off lucky.

You may be right. This watch looked just like a model 116200. Used ballpark price is around $3,200. But not $7,500. No way!