Was this a good buy?

[jfriedkin]

A SS royal oak 5402 ST series A was just sold at auction for $42,500 with the following:


The watch has been reviewed on April 8, 2019 by the Audemars Piguet North American service center with the following verbal assessment:
* The timepiece is model 5402 ST.
* The timepiece is circa 1971-1973.
* The bracelet is not the original bracelet #377 - it is bracelet #944.
* The stem and crown are not original and are currently detached from the case.
* The watch has a non Audemars Piguet plastic casing ring, not the original metal ring.
* The plastic casing ring is preventing Audemars Piguet from accessing the movement, and the watch will require work at the Switzerland office of Audemars Piguet.
* There are two screws on the case back that are stripped.
* The dial is discolored.

Was this a good buy??

[vtsyrlin]

IMHO the dial is a huge contributing factor to the watch's value and future collectability
Personally, a pristine and original examples sell for around $55-60k so this sold cheaper but IMHO not worth the $$$

[jfriedkin]

I understand the dial, however I can live with a bit of "tropical". But what about the non-original bracelet, the non-original crown and stripped screws from the back?? I was told that some watchmaker in order to secure the back use glue and that was why AP in FL could not open the case!!!

What is this going to cost to fix?? And can it be fixed??

[HarryLime]

Originally Posted by jfriedkin

A SS royal oak 5402 ST series A was just sold at auction for $42,500

Originally Posted by vtsyrlin

IMHO the dial is a huge contributing factor to the watch's value and future collectability
Personally, a pristine and original examples sell for around $55-60k so this sold cheaper but IMHO not worth the $$$

I was bidding. In my opinion, I'm surprised it sold for so much. It needed a lot of work. It would have to go directly to Le Brassus and god knows what they would find. Also the auction house REMOVED all guarantee of the 2121 movement being inside after speaking to APSC. It's in the printed catalog, but not online anymore. If you can get a pristine version for $55k (can you though? today?), then this was not enough of a discount to take the risk. Whoever won the auction either knows a lot more than me about this particular watch, or a lot less!

[lovetherolex]

Originally Posted by HarryLime

I was bidding. In my opinion, I'm surprised it sold for so much. It needed a lot of work. It would have to go directly to Le Brassus and god knows what they would find. Also the auction house REMOVED all guarantee of the 2121 movement being inside after speaking to APSC. It's in the printed catalog, but not online anymore. If you can get a pristine version for $55k (can you though? today?), then this was not enough of a discount to take the risk. Whoever won the auction either knows a lot more than me about this particular watch, or a lot less!

Good assessment

[jfriedkin]

Originally Posted by HarryLime

I was bidding. In my opinion, I'm surprised it sold for so much. It needed a lot of work. It would have to go directly to Le Brassus and god knows what they would find. Also the auction house REMOVED all guarantee of the 2121 movement being inside after speaking to APSC. It's in the printed catalog, but not online anymore. If you can get a pristine version for $55k (can you though? today?), then this was not enough of a discount to take the risk. Whoever won the auction either knows a lot more than me about this particular watch, or a lot less!

I couldn't agree more!

[Jorssen]

Originally Posted by HarryLime

I was bidding. In my opinion, I'm surprised it sold for so much. It needed a lot of work. It would have to go directly to Le Brassus and god knows what they would find. Also the auction house REMOVED all guarantee of the 2121 movement being inside after speaking to APSC. It's in the printed catalog, but not online anymore. If you can get a pristine version for $55k (can you though? today?), then this was not enough of a discount to take the risk. Whoever won the auction either knows a lot more than me about this particular watch, or a lot less!

Totally agreed!

[Raemondo]

Hope you didn’t win this auction!