Buying a watch at auction is one of the most exciting ways to own a rare watch. Previously, buying a watch at auction was almost unheard of. However, the rise of online auctions has made this process much more accessible. Online auctions have several advantages, including convenience, cost efficiency, and reduced dependence on venue and time. But the downside is that an online-only auction can’t provide the same thrill that a live auction does. Plus, online auctions typically last one or two weeks, so non-professional bidders can get distracted easily.
Using the AuctionWatch addon is quick and easy. You can see what auctions you’re following with a single click. It will also let you know when you need to post an auction. The addon will open a report window with a frame, including the number of auctions that you have watched. The report will list the auctions you’ve watched, as well as their price, the Character – Realm name, and the amount of time they’ve been live.
To find a watch at auction, it’s important to choose a reliable auction house. Many watch companies have archives with detailed information. For example, Patek Philip and Audemars Piguet have comprehensive archives. In addition, Longines has a watch department with specialists who can inspect the watch and issue a certificate. However, while the certificate can provide information on the history of the watch, it can’t tell you who bought it.
Purchasing a watch at auction can be a rewarding experience. However, it’s important to keep in mind that the market value of a vintage watch is not always clear-cut. A vintage Rolex Submariner, for instance, may sell for half a million dollars. Many people would prefer to keep their purchases and sales private, but auctions allow you to know the value of a watch before you bid.
Online auctions have become increasingly popular, with Sotheby’s setting new standards. The company also launched two pioneering online sales devoted to pocket watches. The results for these auctions show an expanded audience – half of participants were new to the auction house, and nearly 40% of participants are under 40 years old.
The Phillips success is ongoing. In 2018, Phillips sold over EUR99 million worth of watches, and 12 out of the 17 watches that sold for over one million euros were sold at their events. As a result, the company is consistently increasing its revenue, and online membership continues to grow. This reflects the company’s dedication to excellence.
Auctions are highly competitive and often feature rare and vintage pieces that are worth thousands of dollars. Those who attend an auction to bid on a rare watch are usually surrounded by media and VIPs.