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LMAO at Longines estimate in PHILLIPS Auction...

  1. Tony C. Ωf Jury member Oct 15, 2018

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    8,000-12,000 USD?

    With apologies to Meg Ryan, I'd like a hit of whatever the auctioneer was smoking when he came up with this estimate:

    https://www.phillips.com/detail/LONGINES/CH080218/118

    And on a related note, if the watch somehow does sell for anywhere near the low estimate, I would like to offer some other nice, vintage watches to the winning bidder at fabulous, discounted prices. :D
     
    KingCrouchy, Mark020, bubba48 and 5 others like this.
  2. peatnick Oct 15, 2018

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    To be fair most lot estimates are optimistic

    sei tache.jpg
    My 5193 shipped to Brazil in 1944 and got a salmon hue from the tropic
     
  3. Tony C. Ωf Jury member Oct 15, 2018

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    No, that estimate is not "optimistic, it is ludicrous. The dial also has obvious radium burn, to add insult to injury.

    Anyone who pays anywhere close to $8k for that reference would be clueless.

    P.S. – Yours is a more attractive example, and the second hand much more desirable.
     
    aap likes this.
  4. Lucasssssss Oct 15, 2018

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    For posterity, estimate of 8-12,000CHF, picture here:
    [​IMG]
     
  5. Fost Oct 15, 2018

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    I think they misunderstand the difference between a 35mm tre tacche and a simple 6 tacche :.
     
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  6. ConElPueblo Oct 15, 2018

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    That is, what, 15 times the value on the open market?
     
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  7. JohnSteed Oct 15, 2018

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    Likely fair comments, got it. That said, me no longer looks askance at others pricing as there’s alway (usually) a buyer out there who’s looking to park cash. It’s a market out there folks. We, may not always participate.....;)
     
  8. Fost Oct 15, 2018

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    True but here they clearly miss the point. It is a 800 Dollar watch ...
     
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  9. JohnSteed Oct 15, 2018

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    But THAT’s their point haha. Not that they care but not able to see their motives, they obviously bullish or instructed to estimate as noted....I’ve visited the PHILLIPS a/h in Hong Kong and they struck me as decent folk....just marching to some other drummer’s beat
     
  10. S.H. Oct 15, 2018

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    It is not cash parking, it is cash burning. And I love the wording:

    "The radium burn at 2 o’ clock is an unmistakable indication that the watch was stored and remained unused for a long time, thus explaining the superior condition it is offered in."

    Is this a cosmetic defect, Sir? Of course not, it is the unmistakable proof that it is in superior condition! Well, what could they say about the gouging marks on the back? Not only is the estimate ludicrous, but the customer is openly taken for a fool...
     
    KingCrouchy, Perseus, aap and 3 others like this.
  11. ac106 Oct 15, 2018

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    If anything I find auctions grossly underestimate hammer prices as they think low estimates drive up interest.
     
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  12. JohnSteed Oct 15, 2018

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    See there. That’ll get ya ALL DA time.....no sense in attaching any reasoning..... ::rimshot::
     
  13. JohnSteed Oct 15, 2018

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    Eagle eye
     
  14. peatnick Oct 15, 2018

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    Mine owes me a hair more but a MWR member offered $1500
    Despite similar scars
    sei tache back.jpg
    Agree but apparently not in this case . .
     
    Edited Oct 15, 2018
  15. S.H. Oct 15, 2018

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    You are missing an order of magnitude here : the low estimate of the auction is 8k$ !
     
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  16. MikeMan2727 Oct 15, 2018

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    Wow, truly absurd. I wonder if they mixed up the estimates with a different lot...
     
  17. Tony C. Ωf Jury member Oct 15, 2018

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    Fair question, but frankly, why is the watch even included in a PHILLIPS auction?
     
  18. peatnick Oct 15, 2018

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    Admit math isn't my forte but meant to agree, similar item in similar condition owes me about $900 but declined an offer of $1500

    Frothy market me thinks??
     
  19. ConElPueblo Oct 15, 2018

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    A bog standard, black dialed Sei Tacche with movement issues (listed as "defect") reached €1,000 incl. of fees in an auction in Scandinavia a week or so ago... I don't get it. Nice watches, but hardly rare?
     
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  20. S.H. Oct 15, 2018

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    Too much cash in the economy, greedy sellers, not enough educated buyers. Tulips?
     
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