1967 Speedmaster Racing Red is back!!!

chronoboy64

I have no experience with auction houses as a seller. But I think as a EU based seller you might take into consideration that Phillips is not located within the EU. I would think that you have to Import your watch to Switzerland in order to get it auctioned by Phillips. In this case the Import VAT and customs fees might be higher than a specific sellers fee.

JetLinks

Well let's say this much, I don't want to it to leave the family..... a special watch is a special watch! It was bought for a normal price back in 1970 and therefore is a great timepiece regardless. But then when you look at it's value and then as @CPRwatch mentioned, how it wouldn't be fair that being the only boy, I would get a watch worth squillions (OK, I exaggerate a tad!) whilst my two sisters fought over a few rings, etc.

But walking around with this on his wrist is sort of a liability, plus he hardly wore it because it didn't have a date & needed to be wound each day, which now actually has helped the watch be in A++ condition.

It's a tough one, but having extra money in his retirement years would make a much bigger impact than this watch being in his safe. I just wish it was worth less, i.e. not worth enough to sell, so better to pass onto ME!!

How do I figure out this 0% auction fee because Sotheby's in London told him 10% (eff THAT!!) so I've told him to not commit to anything yet?

chronoboy64

I have no experience with auction houses as a seller. But I think as a EU based seller you might take into consideration that Phillips is not located within the EU. I would think that you have to Import your watch to Switzerland in order to get it auctioned by Phillips. In this case the Import VAT and customs fees might be higher than a specific sellers fee.
Am I wrong ?
Best

jhross98

i believe you are incorrect. . that is Philips responsibility and the buyer's it will not come out of your proceeds as a seller

chronoboy64

I am not sure that this is Phillips responsibility. Fact is that they don´t buy your watch prior to their auction but sell on behalf of the consigner and cash in a commission for their services. Also fact is that the auctioned watches are physically in Geneva when the auction takes place. In conclusion IMHO the consigner sells his watch to the highest bidder and therefore has to cover Import taxes etc. form the EU to Switzerland. But as said I have no experience with that issue.
Best

JwRosenthal

there collectors on this forum they would gladly buy this watch and save the seller and potential buyer all the commissions?

JetLinks

I mean, it's up to my Dad but I like the idea of a big wad of cash being thrown at me! Or a big wad at him and a smaller wad at me so I can buy a Japanese Speedie Racer!!

jhross98

10% is a joke and not a serious offer. They must think you don't know what the market is

Personally I have found Philips gets the best prices as a seller. Not always, but on balance.

I would tell all 3 major houses (Philips, Sotheby's, Christie's) they are in competition against the others and give you the best deal on fees they have and tell you exactly what they are going to do to market your watch. Its not a 7-figure patek 2499 that could anchor an auction or the like but its special enough i would think you could get down close to zero fees

JwRosenthal

I think that part of the variable many people don’t think about when it comes to auction vs private sale is even if this thing hits $100kUS at an auction, the seller would only walk with less than $60k from what I am gathering about fees, taxes duty etc. So what is the point of dickering around with auction if there is a conscensus on value within $10-15k and a pool of private buyers willing to buy?

JetLinks

I'm just about to become a home owner for the first time.