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Jay (Eire) · 4 October 2017, 11:35 AM

What am I missing in these results from yesterday's auction?

2013 BLNR US$12.8k (OK, the least odd of these three odd lots)

2017 Anniversary Sea Dweller US$27.2k

2010 116520 Daytona US$24k

All prices include buyers premium, but still.

Is someone just laundering money through the auction house? Seriously, why else would people pay these prices for these specific watches? I've looked at other lots and nothing stood out as much as these and unless I've been under a rock for the last while these do stand out.

Ruud Van Driver · 4 October 2017, 11:40 AM

Presumably, you mean Daytona 116520?

Jay (Eire) · 4 October 2017, 11:45 AM

Quote:

Originally Posted by Ruud Van Driver

Presumably, you mean Daytona 116520?

Fat fingers, yes, corrected now.

AK797 · 4 October 2017, 11:48 AM

We're going thru a Tulip mania at the moment. It's catching like wildfire.

Ruud Van Driver · 4 October 2017, 11:52 AM

Quote:

Originally Posted by Jay (Eire)

Fat fingers, yes, corrected now.

Seems like silly money to me. Is it definitely US $?

Quote:

Originally Posted by AK797

We're going thru a Tulip mania at the moment. It's catching like wildfire.

What’s tulip mania? Is that code for shitgibbons?

morimotom · 4 October 2017, 11:54 AM

Maybe those who frequent Sotheby’s auctions don’t care about $$ and just buy whatever they see?

Caught up in bidding war?

tamiya · 4 October 2017, 11:56 AM

Quote:

Originally Posted by Ruud Van Driver

What’s tulip mania? Is that code for shitgibbons?

World's rare flower collectors went apeshootbonkers over a Tulip dark enough to be called "black".

Back when there was no refridgeration nor airfreight cargo

Jay (Eire) · 4 October 2017, 11:56 AM

Quote:

Originally Posted by AK797

We're going thru a Tulip mania at the moment. It's catching like wildfire.

But even then don't these look a little out of place.

There was a 16520 Black late series model that also sold close to US$20k, some 1680 Red Subs and other like pieces that sold for numbers that seemed within reason (that is, allowing for some auction related inflation of prices).

Tools · 4 October 2017, 11:57 AM

Auction houses are where you take your stuff to get exaggerated prices; people are obsessed with "winning".

That's what all these bidding sites count on.

tamiya · 4 October 2017, 12:00 PM

Quote:

Originally Posted by morimotom

Maybe those who frequent Sotheby’s auctions don’t care about $$ and just buy whatever they see?

Caught up in bidding war?

Chump change in HK

Those who frequent Sotherbys could spend more than that $$ on drinks over lunch, probably bought those used pieces for their driver/domestic/gardener/housekeep to wear whilst dusting the petunias.

tamiya · 4 October 2017, 12:03 PM

btw I hear "The" Paul Newman was being exhibited in HK last weekend.

Was it shown at Sotherbys?

OgSnowflake · 5 October 2017, 12:40 AM

Quote:

Originally Posted by tamiya

btw I hear "The" Paul Newman was being exhibited in HK last weekend.

Was it shown at Sotherbys?

Phillips auction house in New York City on October 26th

watchwatcher · 5 October 2017, 12:46 AM

Dang...if anyone wants to give me 27k for the new SD, just send me a PM.

I'll even throw in the shipping.

tamiya · 5 October 2017, 12:51 AM

Quote:

Originally Posted by OgSnowflake

Phillips auction house in New York City on October 26th

yeah that's the date of Legends auction. Heard mentioned that Phillips had the Legends PN on show in HK over last weekend but didn't know where exhibited. Dare say they'll have their own HK offices, unlikely to be cooperating with Sotherbys.

Jay (Eire) · 5 October 2017, 10:26 AM

[QUOTE=Ruud Van Driver;7944523]

Seems like silly money to me. Is it definitely US $?

Yes, those are the USD prices per Sothebys and they correspond with the HKD prices listed.

Exactly, just plain silly money and there has to be more to it than some of the responses here like "there are rich people in HK" or "auction prices are always inflated" or even "bidding wars, emotion, etc etc".

There are a small fraction of people who walk into an auction house and just buy random stuff. And I know a large portion of that small fraction of people are in HK. I know some of them. But I've never seen them in the watch auction world buying new regular production pieces. Those same people can get these watches from an AD without much trouble.

Was anyone here in the room?

Jay (Eire) · 5 October 2017, 10:27 AM

Quote:

Originally Posted by watchwatcher

Dang...if anyone wants to give me 27k for the new SD, just send me a PM.

I'll even throw in the shipping.

Hell yeah, all day long.

4 October 2017, 11:35 AM	#1
Jay (Eire) 2024 Pledge Member Join Date: Jul 2010 Real Name: @jb.watching Location: NYC Posts: 1,491	Auction Results Sotheby's HK - Huh? What am I missing in these results from yesterday's auction? 2013 BLNR US$12.8k (OK, the least odd of these three odd lots) 2017 Anniversary Sea Dweller US$27.2k 2010 116520 Daytona US$24k All prices include buyers premium, but still. Is someone just laundering money through the auction house? Seriously, why else would people pay these prices for these specific watches? I've looked at other lots and nothing stood out as much as these and unless I've been under a rock for the last while these do stand out.

4 October 2017, 11:40 AM	#2
Ruud Van Driver "TRF" Member Join Date: Oct 2014 Real Name: Chopped Liver Location: S. Wales Valleys Watch: Mickey Mouse Posts: 9,926	Presumably, you mean Daytona 116520? __________________ 116520 Black, 116610 LVc, 116660 D-Blue, 116610 LNc, 116622 Blue, PAM359, PAM689, PAM737 *"Why should you allow an AD to shake you down, just so you can buy a watch" - Grady Philpott* Card carrying member of TRF's Global Association of Retro-Grouch-Curmudgeons

4 October 2017, 11:57 AM	#9
Tools TRF Moderator & 2024 SubLV41 Patron Join Date: May 2007 Real Name: Larry Location: Mojave Desert Watch: GMT's Posts: 43,514	Auction houses are where you take your stuff to get exaggerated prices; people are obsessed with "winning". That's what all these bidding sites count on. __________________ (Chill ... It's just a watch Forum.....) NAWCC Member

4 October 2017, 11:48 AM	#4
AK797 2024 Pledge Member Join Date: Feb 2010 Real Name: Neil Location: UK Watch: ing ships roll in Posts: 59,369	We're going thru a Tulip mania at the moment. It's catching like wildfire.

4 October 2017, 11:54 AM	#6
morimotom "TRF" Member Join Date: Aug 2012 Real Name: Mark Location: Los Angeles Watch: SD43 Posts: 312	Maybe those who frequent Sotheby’s auctions don’t care about $$ and just buy whatever they see? Caught up in bidding war?

4 October 2017, 12:03 PM	#11
tamiya "TRF" Member Join Date: Jul 2017 Real Name: Willy Location: AU, SG, MY Posts: 1,248	btw I hear "The" Paul Newman was being exhibited in HK last weekend. Was it shown at Sotherbys?

5 October 2017, 12:46 AM	#13
watchwatcher "TRF" Member Join Date: Jan 2009 Real Name: Larry Location: Kentucky Watch: Yes Posts: 35,044	Dang...if anyone wants to give me 27k for the new SD, just send me a PM. I'll even throw in the shipping.

5 October 2017, 10:26 AM	#15
Jay (Eire) 2024 Pledge Member Join Date: Jul 2010 Real Name: @jb.watching Location: NYC Posts: 1,491	[QUOTE=Ruud Van Driver;7944523] Seems like silly money to me. Is it definitely US $? Yes, those are the USD prices per Sothebys and they correspond with the HKD prices listed. Exactly, just plain silly money and there has to be more to it than some of the responses here like "there are rich people in HK" or "auction prices are always inflated" or even "bidding wars, emotion, etc etc". There are a small fraction of people who walk into an auction house and just buy random stuff. And I know a large portion of that small fraction of people are in HK. I know some of them. But I've never seen them in the watch auction world buying new regular production pieces. Those same people can get these watches from an AD without much trouble. Was anyone here in the room?

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