Phillips auction in Geneva.......

A really good article (exerted here for ease)

"I got many messages asking me why a 16610LV sells way higher at auction then one can buy in the market. Let me explain you that there are 2 different buyers in general out there, auction buyers & dealer buyers. Auction buyers don’t want to buy from a second hand dealer, they want everything ‘official’. Maybe because they miss the knowledge to judge for themselves they want to have the trust that their watch is published in one of the glossy catalogues. They have a (financial) relationship with an auction house, they buy and sell their collectables, art, real estate etc with them and don’t want to hustle with a dealer. They also don’t give a shit if they overpay a watch because the wine they drink during dinner is probably more expensive. On the other side you have the dealer buyers, a well known phrase is “Buy the Dealer”. These buyers are way more informed, have a relationship with their dealer, he takes care of your bidding during the auction, he explains you the secret details, he often knows the provenance better then the auction houses, he sees what has been restored or swapped and he’s there for you when you want to sell your watch again, he’s your friend. He charge you a fee so you can built up your collection safely. Today auction houses want to become dealers with their private and online sales and be independent as well. Lets see how this develops.."

https://www.phillips.com/detail/rolex/CH080120/75

Hammer Price
+
Buyer's Premium
+
VAT on Buyer's Premium and/or Hammer Price
(if applicable)
+
Artist's Resale Royalty (ARR)
(if applicable)


Buyer's Premium: This is the commission Phillips charges the successful highest bidder and buyer of the lot. The Buyer's premium is calculated on the hammer price of the lot at the following rates on a cumulative basis:

25% on the portion of the hammer price up to and including £300,000; and
20% on the portion of the hammer price above £300,000 up to and including £3,000,000 and
13.5% on the portion of the hammer price above £3,000,000.

+ VAT of 20% on the Buyers fees

So SOLD FOR CHF33,750 + (CHF84375 + 20% VAT = CHF10125) = CHF43875 =

$47,370 for a Pepsi.!!!

Sure, nothing funky or fishy about this whatsoever