Me want!! Price will end much higher I'm afraid.

 

Odd with only two pics of a watch at that price level. Bezel not correct........ Will be interesting to see how high it goes

 

18% +VAT @ 20% on the fees. Additional 3% for on-line bidding.

 

Hi

According to me that's £5.8k GBP if it sells for £4k....Personally I think it will go for more !

Best - Neil

 

Of course it has issues but a full set is very rare.

 

dsio

There is a buyers premium of 18%+VAT = 21.6% inclusive and a 2% additional charge for using credit cards and some debit cards. For sellers the fees are 12.5% +VAT = 15% inclusive.

I have used them once to sell a 750K Cartier lighter I had and that I really didn't want to have to sell for scarp value as it really was too nice for that. Although it didn't sell they gave it to a buyer that had bought a gold plated version by mistake but handled the situation professionally and the buyer ended up paying for mine instead and I received my money promptly. Although they are not cheap the do offer a very professional service IMO and I would use them again in the right situation.

Marc

 

Will be interesting to see the result here and for the railmasters to be auctioned

 

dsio

I'm not sure I understand you properly as to how you have arrived at that figure as by my calculations the seller only has the 15% fees deducted from the sale as his cost and then the buyers fees are paid by the buyer to the auction house. Obviously the auction house gets the best deal making money from both buyer and seller but then they do have all the costs involved in the brochure, advertising, insurance and promoting the sale and running it all.

Marc

 

dsio

Oh OK now I get it, yeah that's true but as a seller I just set the reserve and took into account the 15% I was going to lose from final sale price what the buyer was going to pay really didn't come into my thinking nor did I care. I had tried to sell it privately with out any results and at far less then I actually received for it and much more than I could of got for it as scrap. So for me it was a positive experience as I got a better price and with the least amount of effort on my part as i only had to take into them although I could of just posted it. Obviously I realise that Watches of Knightsbridge are not doing all of this out of the kindness of their hearts but to make money as besides anything else I would imagine the cost of their offices and auction room in Knightsbridge are far from cheap to run. I'm far from being an expert on auctions but am pretty sure all the auction houses work this way with both sellers and buyers paying percentages on their sales. Also sorry should of addressed my post to MSNWatch.

Marc

 

Hi MSNWatch,

I should point I am not disagreeing with what you are saying about the actual cost to the buyer and the difference between what the buyer pays and the seller receives being large that is just how it works with auctions from what I can see. As for the digital revolution effecting I think this ship has sailed as all the big auction houses already have on line bidding. The thing is if you were to try and enter the market and undercut their fees who would be likely to trust you with their goods or send you their money to an unknown quantity?

I have just checked out Bonhams and Sotherbys both of whom on sales charge the buyer a 25% premium on sales up to £100,000 which makes Watches of Knightsbridge seem cheap and neither of them disclose just how much the sellers premium is on their sites it requires you speaking to someone which I just can't be bothered to do as am pretty sure it will also be more than Watches of Knightsbridge charge. Being an auction house looks like a very profitable bushiness to be in if you have the reputation, backing and facilities to make it work I wish I did but unfortunately don't.

Marc