Sotheby’s recent auction formats have redefined the watch auction landscape and brought new standards of success. In one online sale, the Daytona JPS ref. 6264 sold for $1.5 million. In another, two pioneering online sales devoted to pocket watches topped the million-euro mark. The new formats have also broadened participation and appeal to buyers. Nearly half of all participants are new to the auction house and 40% are under 40.
Auctions are a great way to learn more about watches, including their history and perceived value. This knowledge can help you make smarter investment decisions. However, there are disadvantages to purchasing watches at auction, including intense competition. Most prestigious auctions are attended by passionate watch collectors who are searching for high-end collectible products.
The goal of AuctionWatch is to make the process of watching auctions as easy and as efficient as possible. You can keep track of the auctions you are interested in by clicking on the “Add to Watch List” button at the top of the auction page. You can also view the items you’ve added to your watch list by opening your “My Stuff” section and clicking on “My Watch List.” You can also delete the auctions you no longer want.
Auctions also offer the option to bid by phone. Most watch auctions occur annually or bi-annually. But if you’re desperate to purchase a watch, you may want to skip this method. You’ll need to create an account with the auction company before you bid on a watch. Once you’ve done so, you’ll be able to bid in person, on the phone, or online. Before you can bid on a watch, however, you’ll need to provide identification and make a deposit.