At least two parties thought there was value in the watch since it sold for CHF 6,250. Auctions are funny, sometimes things go for a lot higher, sometimes a lot lower. Setting the reserve and estimated prices is somewhat of a game. You don't won't to set it too low for if you don't get many bids you may let it go for too little money, but setting it too high causes problems too as people will tend to not bid on an item that is out of whack on the high side. I've sold a fair number of items at auction and have been happy with the results, but the price has to be set realistically. I have no idea what caused the price to be so high. Maybe condition