Major auctions of fashionable things typically bring higher prices than private sales, and for what should be fairly obvious reasons.
First, people who are inclined to participate in major auctions are typically less concerned with the additional expenses (e.g. buyer's premiums, home country taxes, etc.), even though such expenses can be quite high.
Secondly, and especially with with sought-after models, it only takes two bidders with very deep pockets to catalyze a hammer price that would not be realistic in a non-auction setting.
Thirdly, many who bid at auctions allow their emotions to get the better of them, and are willing to set aside cool, rational price evaluations.
Finally, shill bidding does happen at times.
I never suggested that public auction records should be ignored, but they are not a good, direct guide to the market value of most vintage watches.
Click to expand...