A Watches Auction is a way to acquire an exclusive and rare piece of jewelry. The sale confirms that fine watches are a viable asset class, comparable to art, wine, and cars. Collectors are particularly interested in the works of living watchmakers, such as Philippe Dufour and Francois-Paul Journe.
Before attending a Watches Auction, make sure you know the terms involved. First of all, you should know about the buyer’s premium. This premium is typically included in the hammer price. It is important to understand how to calculate this premium before participating in the auction. The buyer’s premium is calculated differently depending on the value of the watch.
Secondly, a Watches Auction can be a great way to get a bargain. The online version of the event can help you buy a rare watch at a lower price. These auctions are also faster than a traditional auction house. Some auctions move their watches within a week, and this is a great benefit for buyers.
Watch auctions also have a younger audience. More, younger bidders are turning to the auction process for a means to build wealth. Many young people are starting their own business or inheriting family wealth, and are using their watch collections as a way to build a fortune.