Bidding for watches at an auction can be a tricky process. It is not always possible to start at zero, and minimum bids can vary considerably from item to item. The minimum bid is not meant to be the same as the item’s value, though. Most auction items have minimum sale prices called reserves, and items that do not meet these prices will be removed from the sale.
Auction watch works by keeping track of auctions that match certain criteria, such as a price range. It will then send push notifications when listings match your criteria. This is very convenient for users who may live in different time zones and may not be able to manually check the auction houses. Besides that, it will also remind you to post auctions every once in a while.
Although auction houses make the auction lots sound exciting, they often stretch the truth and use distorted evidence to convince buyers. Hence, you should pay close attention to these claims and try to avoid getting swept away by the gimmicks. You can be a winner at auctions, if you know what to look for and how to approach the auction house.
It is important for the auction house to make it easier for buyers to bid on a watch they like. However, there have been cases where the auction house has removed lots before the auction, but they did not make much of a stir or attract significant attention. Most times, you can’t even tell when a lot has disappeared from an auction when it is being viewed online. Many times, these removals take place without any external pressure and are simply done to protect the auction house’s reputation or the original consignee’s interests.
Auction watch sales are not for the faint-hearted. Even if the watches at an auction have high prices, they are not always in good condition. Therefore, you should ask for a condition report from the auction house before bidding. If the auction house is unwilling to do this, you should take the watch for service at a reputable watch repair shop or directly to the brand. The whole process can be time-consuming and costly.
The auction market has always been the face of the watch world. The colour-rich catalogues and yearly auction seasons attract collectors from around the world. In fact, auction houses saw record numbers in 2021. This proves that the public’s interest in auctions doesn’t stop at the luxury category. There are many lesser-known brands that can be of better quality and have a higher value.
The quality of vintage watches is vital. In October 2021, the Monaco legend group sold a Rolex Ref. 6105 for USD 324,161. This watch sold for 20 times its usual price.