Rolex Hulk for 75K!!!

[bogdoc]

Just got auctioned at Phillips for 75K. Can it get crazier than this??

[SaintMickey]

Crazier or dumber?

[bogdoc]

Originally Posted by SaintMickey

Crazier or dumber?

Either or both!

[padi56]

Originally Posted by SaintMickey

Crazier or dumber?

Dumber I would say, but today some have more money than sense, simply because Rolex are now just ££$$€€ object things nothing more.

[eltonbalch]

Originally Posted by bogdoc

Just got auctioned at Phillips for 75K. Can it get crazier than this??

Is there a link?

[TNT009]

Good for the buyer and seller!

[Goin2drt]

Originally Posted by padi56

Dumber I would say, but today some have more money than sense, simply because Rolex are now just ££$$€€ object things nothing more.

Yep.

[TheDapperYank]

I mean, it's a charity auction so the prices are going to be inflated.

From https://www.irs.gov/charities-non-pr...arity-auctions

"Donors who purchase items at a charity auction may claim a charitable contribution deduction for the excess of the purchase price paid for an item over its fair market value. The donor must be able to show, however, that he or she knew that the value of the item was less than the amount paid. "

[bogdoc]

I didn't see that its a charity auction except for the Tiffany Nautilus. I hope its for charity. At least it will make some sense.

[joejet]

the Tiffany 5711 and the Hublot were the 2 charity lots the rest are for profit.

[bogdoc]

Originally Posted by joejet

the Tiffany 5711 and the Hublot were the 2 charity lots the rest are for profit.

That's what I thought.

[zzenrocker]

Paying an auction house, especially with all their purchasing rigmarole you have to deal with on top of it, 3-4x the grey price is, um...idiotic.

[daytonaTBR]

94.5k all in...for a hulk.

[bogdoc]

Originally Posted by daytonaTBR

94.5k all in...for a hulk.

[ByzantineFire]

Here's that link

https://www.phillips.com/detail/rolex/NY080121/118

I would be curious if anyone can explain this phenomenon of inflated auction prices. This watch is readily available in unworn condition for (the already ridiculous sum of) 30k.

Is it money laundering? Is it the excitement of being at an auction and not wanting to leave empty handed? Regardless I would love to talk to the buyer and understand how they justify spending 90k on a 9k watch.

[febie111]

Auction frenzy I would think and that is why I never participate in any of them. This 2017 white dial ceramic Daytona went high as well but nothing like that Hulk.

https://www.phillips.com/detail/rolex/NY080121/82

[bogdoc]

Originally Posted by febie111

Auction frenzy I would think and that is why I never participate in any of them. This 2017 white dial ceramic Daytona went high as well but nothing like that Hulk.

https://www.phillips.com/detail/rolex/NY080121/82

These prices include buyer's premium. Daytona went for 40k which is close to the market price. Does anyone know if there is any seller's fee at auction houses? I am wondering how much seller got out of that 40k on Daytona.

[thenewrick]

When I spoke with an auctioneer he told me people generally pay way over value during auctions for a few reasons. They go in wanting something and wont leave without it. They get caught up in the action and/or want to show off their money. They don't want to leave an auction empty handed. If you want good value, you won't find it at an auction. Buy from an individual and have the piece verified by a professional and purchase in-person to save on shipping and insurance if you want a good deal. Cut out all the middle-men.

[vinny84]

To each their own I guess...

[William.L.]

Originally Posted by bogdoc

These prices include buyer's premium. Daytona went for 40k which is close to the market price. Does anyone know if there is any seller's fee at auction houses? I am wondering how much seller got out of that 40k on Daytona.

For the pieces I have in an upcoming Phillips auction, its 2%. The fees range from 2-5%.

[bogdoc]

I am waiting to see if it will change the price in grey market. My guess is it will support the hype around sports watches.

[rambo99]

Originally Posted by bogdoc

I am waiting to see if it will change the price in grey market. My guess is it will support the hype around sports watches.

i dont think so, this laughable price should have zero effect on hulk's grey market price.

[Anton911]

Originally Posted by padi56

Dumber I would say, but today some have more money than sense, simply because Rolex are now just ££$$€€ object things nothing more.

Oh yes,I’m loving it.Reaping in huge profits.

[Laostuh]

How I would get a Hulk into this auction? Asking for a friend ... ;) LOL

[edslee327]

2-5% sellers commission seems low but i think it's negotiable depending on the item? but buyers premiums at 26% for phillips under 600K, so if you're buying, it's always more than mkt price... or it could just be an item you don't see very often and theres not rly any comps for it. but they can have my business to sell my watches at 15% if they want, so long as they're getting "hulk-like" inflated prices lol

[1665fan]

Smells like BS, I don’t believe it……..you can get 3 hulks for that price

[pierson]

Charity auctions shouldn’t count. A lot of egos in those rooms. And people who were going to donate the $75k anyhow


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[bogdoc]

Originally Posted by William.L.

For the pieces I have in an upcoming Phillips auction, its 2%. The fees range from 2-5%.

Thanks!

[bogdoc]

Originally Posted by pierson

Charity auctions shouldn’t count. A lot of egos in those rooms. And people who were going to donate the $75k anyhow


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While I agree with ego part, This was not a charity auction except for couple pieces.

[MrRdStr]

Unbelievable times ��