patrick_y
[PuristSPro Moderator]
33705
Low estimates are intentionally done.
Low estimates are a strategic risk. Two things to note:
1. A reserve price cannot be higher than the low estimate. Makes sense right? An auction house can't give an estimate of a reasonable sale price and then have a reserve higher than their own estimate. Thus, the seller is taking a big risk that the watch will sell for less than what the seller wants for it.
2. But a low estimate brings A LOT OF people to bid. This frenzy is intentional. This frenzy creates a psychological thought; if half a dozen other people are bidding on it, then it must be good! Then maybe I should probably increase my cheapskate bid by 10 or 20%.
This market is going completely crazy
Look at these 4 lots And we are only at lot 10 The auction is live now Come on…. Yes it’s a great watch But 14 MILLION USD for that journe ??? ...
Thanks for the heads up...
I'm packaging up my Seiko Turtles and sending them to Phillips immediately!💸
They refuse a lot of lots they don't want and don't help build their profile.
And most amateur sellers don't realize how complex it is, how long it takes until they get their money, and a lot of sellers drop out too. Auction is not the best strategy for most pieces.
I’m surprised by the low estimate of the first FPJ…
glad to see that the madness prevailed with the actual sold price😵💫
Low estimates are intentionally done.
Low estimates are a strategic risk. Two things to note: 1. A reserve price cannot be higher than the low estimate. Makes sense right? An auction house can't give an estimate of a reasonable sale price and then have a reserve higher than their own estimate...
I can’t imagine wearing one of these watches.
Of course I can’t imagine buying one as well, which skews my ability to envision wearing it anywhere.
Afraid we havent seen the peak yet
With SPCX, OpenAI and Anthropic going public, a lot of money is going to be hitting the streets!
I was there...
I did the preview for the Phillips and Sotheby's auctions on Thursday and was at the Phillips auction live today. Saw all those pieces auctioned live. Very strong prices for most of the watches...the Journe and the Lange, lots 1 and 2 started strong out o...
Not just one brand
There were 4 voutilainen in that auction All 4 went over 1 million Not so long ago a voutilainen was 150 or so
Reading those auction results and seeing the Jay-Z type collectors
make me want to take my tiny, proud, hard-earned collection to a quiet private and safe! place to simply loupe them and love them in peace. Remembering the long journey for each one Best, Robert
Agreed. I’m having as much or more fun wearing and collecting moderate priced vintage Seiko’s than my “high end” or high priced timepieces
This one from 1964 cost me all of $200. Attributed to Sheryl Crow: "Wanting what you've got is better than getting what you want." ...