So, most auction houses offer free valuations. I've had a couple done with Christies and Sothebies.

Can they be trusted ... or do they inflate the value to encourage you to put them up for auction...?

 

In my experience, the valuations are typically on the conservative side. If they inflate the price, they run the risk of not selling the watch and scaring off potential buyers.

A more conservative estimate allows buyers to believe they are getting a deal. At the end of the day, any item auctioned is worth what someone is willing to pay, regardless of estimate.