Purchasing a luxury watch at an auction can be an excellent way to buy one that meets your exact specifications. Auctions allow you to see a watch up close before you make your purchase. Specialists will appraise your watch and record its specification and condition. They will also make sure that it comes with all necessary documentation. Any flaws will be noted and discounted accordingly. Buying a watch from an auction is also a safe bet because the process is governed by law. All auction houses must follow the General Conditions of Business, which means that you’re protected.
Recent changes in policy have spurred auction houses to sell timepieces for record prices. In the past, records were only set in extreme cases. This year, 17 timepieces were sold for more than EUR1 million. These results are indicative of trends in the market, not necessarily intrinsic value. For example, a watch that is sold for a thousand dollars in one auction may bring in five times as much money at another.
Before the auction, it was unusual to buy a watch at auction. You’d need to know how much you’re willing to spend. Today, you can participate by filling out a form and listing the items you’d like to bid on. If you’re a bidder, you’ll receive a phone call from the auctioneer.
Using the AuctionWatch addon is simple and efficient. Once you’ve added a watch list item, you can view it in the “Watch List” or “My Stuff” section of your account. Likewise, you can delete any auctions you no longer want to track. This feature will help you manage your auctions in a timely manner.
Auction houses have become increasingly important in the art and watch market. Christie’s, founded in 1766, is a leading auction house and is responsible for selling some of the world’s most important artwork. Last year, Christie’s sold a number of extraordinary timepieces. Sotheby’s is another major player in the field of watch auctions.
Phillips has continued to grow and expand its success. The auction house’s total revenue for 2019 was EUR99 million. The auction house’s online bidding service is user-friendly, and the number of online members increases year after year. This success reflects Phillips’ attention to detail. And Phillips’ website is user-friendly, making it easier for customers to bid on watches.
If you’re serious about collecting antique and vintage watches, it’s important to do your homework. Before bidding on an auction watch, read the auction house’s history and documentation. If you’re not sure whether the watch is truly old, you can always ask for additional documents. This will ensure that you’re getting the full story.
An auction watch can be extremely expensive. But if you’re lucky, you might not be buying one for yourself! A few years ago, a coveted watch might have reached a price that you couldn’t afford. It could have cost you millions of dollars.
