I saw a watch in the catalog for the upcoming Watches of Knightsbridge auction that I am interested in pursuing. I would be bidding on an absentee basis, and probably would just submit a maximum bid instead of trying to follow and participate in the auction online (if they even allow that). Does anyone know how their system works in terms of the house bidding against real third party bidders? For example, if I tell them that my max bid on a lot is $1,000, and the bidding on the piece stalls at $500, would I win at $500 plus the minimum next increment, or would they push the bid up to my max bid? And before anyone says it, yes, I did read through their materials and the answer did not jump out at me, and I did e-mail them the question, but they have not responded. Thanks all.
I've bought a number of watches from them in the past, and they will bid up to your maximum as if it were you bidding, so if you've put a max bid of £1,000 and room bidding stalls at £500, you'd get it for £520 (or maybe £530, I forget what their increments are at that level) + buyers premium (+ postage). I've won lots at levels significantly below my maximum. Please don't bid on the one I'm interested in....
I don't think @timjohn is going to broadcast it on the interwebs, and I also suspect you won't get a PM