Topcat30093
3482
Which market (country) is currently the best for selling....
A piece at an auction?
I know nothing about selling a piece through an auction house, but I'm considering this option.
Living here in the UK my thoughts are on the Asisan markets for having the greatest success?
Also could some members, via pm please advice me on which auction house would be best.
I am currently using my phone to access the forum, so apologise if I don't come straight back to you.
Thank you for any advise given.
Mods, please delete if this thread is not acceptable.
Regards
Tony
Which market (country) is currently the best for selling....
A piece at an auction? I know nothing about selling a piece through an auction house, but I'm considering this option. Living here in the UK my thoughts are on the Asisan markets for having the greatest success? Also could some members, via pm please advi...
From my point of view ...
it strongly depends on the watch. Different brand awareness, tastes, buying power, must haves, ...in different markets.
Based on my own experience...
1. Selling thru an auction house usually means a delay of several months before you can realize the transaction and receive the proceeds (leading auction houses features only two auctions each year in major markets like Hong Kong, New York, Geneva or Lond...
I think Sam's pretty much
covered it. But if you do decide to sell at auction, the currency factor is another issue. The volatility these days make it tough to choose which city. Geneva would seem the safest but maybe buyers may also be affected by the SFr strength.
Very good summary of the issues
Thanks Sam, That's a very good summary of the issues. On the flip side, your list also reflects my preferred way of buying watches as well. Andrew
I presume this is correct
a) the auction house levies 20-25% commission on the buyer, who will then bid accordingly, thereby resulting in a correspondingly lower-than-market hammer price b) you have to pay 8-10% seller's commission That means that 30% of the value goes to the hous...
I am certain about the rates....
There are however people who want to part with a lot (of multiple watches) and therefore go through an auction house so that they don't have to sell them one by one. If you go on the web site of major auction houses and look at 'Auction Results', the hamm...
That's for making the market and guaranteeing that watch and money are actually delivered.
That is the current market percentage for doing those things. It does not necessarily include certifying the genuineness or condition of the piece, although since one house started doing so I think the other houses are being forced to be a bit more helpfu...
sell to Asian buyers
since you are based in the UK, sell to Asia, esp now that the STG and USD is weak against major asian currencies. christies HK auction best bet i think.
Having read all your replies......
And the common census. I believe that I shall possibly be giving the auction houses a miss. Thanks for all your common and unbiased replies. Tony