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  1. Spacefruit Prolific Speedmaster Hoarder Jun 22, 2013

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    Antiquorum has been able to achieve some estimate-busting prices in the past, and this auction in Hong Kong was no exception. I am afraid my interest is limited to speedmasters and piqued slightly by seamasters so my view is coloured. As in the past, I feel that Antiquorum's policy is to underestimate and create interest. The sale was conducted in HK$ but to appeal to a wider audience I have quoted prices in US$ and included the premium. Pictures are from the Antiquorum site and used without permission, but as they are in the public domain I am assuming that's ok. Do go to the site for a full catalogue and results list. (Antiquorum.com)

    Lot 113 was a 105.002 :
    image.jpg


    This was heavily polished on the sides, and rehaut showed damage or corrosion near the 6 o'clock marker. This was not bad, but indicated further inspection and possible work is immediately required. In general it appeared tired, and the patina was not attractive. It had an incorrect bezel, and a non original silver chrono second hand, another alert to check for poor work inside. On eBay I would expect this on a good day and with the wind behind it, to achieve no more than $4000-6000 if auctioned and to remain unsold if offered at 5000 BIN. It was not an attractive example, and no amount of work would make it so. The dial and case condition were never going to allow that.
    It sold for just over $8,000.

    The next lot 114
    image.jpg

    sold for the same amount, ($8000) a seamaster 300 165.024. It had a lovely patina and ended selling for four times its estimate. I don't really know much about these, but it was very attractive.

    115 was a ploprof that failed to sell. I think it had a replaced or relumed dial. The case was nice but it felt over prepared and dishonest. Others clearly agreed because normally this is a saleable model.

    119 was a white gold anniversary speedmaster in very good condition:

    image.jpg
    but without the unique book shaped leather box. One of the nicest precious metal speedmasters made in my opinion, understated and fine. It sold for just under $13,000. Strong, but fair, bearing in mind one sold at Christies last year with a full set of box and papers and the 18kt gold bracelet for $20,000.

    Lot 391 was an ordinary 1982 145.022 on a non origional band.
    image.jpg

    At $3000 it will be hard if the new owner meets any members of this forum who have posted their recent purchases under $2000 which are certainly better than this extremely pedestrian example. Staggeringly overpriced. I know of three places in HK he could have walked to from the auction and bought a better, cheaper example. That's auctions for you!

    Lot 490, the 18kt gold skeletonised speedmaster was definitely the most interesting lot, in spite of showing signs of wear.
    image.jpg

    Estimated at $12,000 to $18,000 this flew past the high estimate before any Internet bidders could even start. It finished at just under $37,000. One of 50 produced in 1992 it had great presence. I have never seen one, or held one before. Only in books.

    The last speedmaster lot 573, a 50th anniversary white gold with box papers and tools went for over $25,000. So boring I can't be bothered to post the photo.

    Other lots of interest were an omega waterproof tester (est $1000-2000) for $4700, and a jumbo sided wall clock in the shape of an omega (est 5000-6000) for an absurd $22,500. Go and have a look at the catalogue!
     
  2. ulackfocus Jun 22, 2013

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    Are the selling prices you're quoting inclusive of the fees?
     
  3. Spacefruit Prolific Speedmaster Hoarder Jun 22, 2013

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    Yes. No extras hidden!
     
  4. ulackfocus Jun 22, 2013

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    Thanks - missed that tidbit in your original post. Some of those prices are insane in the membrane.

     
  5. Privateday7 quotes Miss Universe Jun 22, 2013

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    The skeleton speedmaster is awesome and the price is bit above predicted range of this forum member IIRC : 30-35 K.
     
  6. Lex4TDI4Life Jun 22, 2013

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    It was absolutely stunning up close. I am not usually a fan of skeletons, but this one was really a looker.
     
  7. richardew Jun 23, 2013

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    I registered for the auction but slept through it (I had worked Friday night and drove 6 hours home Sat morning). I didn't miss any bargains though. I thought the 105.002 was lacking a lot - the hands don't look original to me. The minute hand is too short. It should reach to the minute submarkings, and as you pointed out it has the wrong chrono sweep second hand and wrong bezel. The Apollo XI was a bit high since it was missing all of the trimmings that the watch originally came with. The gold skeleton certainly is a desirable piece but not a bargain at $37,000. $3000 for the 71 speedmaster thought is a real head scratcher. It was a good auction to be a seller, not so much a buyer. The next time I have a watch to sell I'm going to try sell it in an Antiquorum Hong Kong auction!
     
  8. Privateday7 quotes Miss Universe Jun 23, 2013

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    Hi Richard, what is the latest transaction price for a YG skeleton Speedmaster that you knew? I know a white gold one was offered in Chrono24 for USD 35K about 6 months ago.
     
  9. LouS Mrs Nataf's Other Son Staff Member Jun 23, 2013

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    Pricing reflects the fact that auctions attract a different cadre of buyers than most who do business collector to collector or by using the internet. Essentially, they agree to pay a premium over eBay pricing in exchange for vetting and due diligence done by the auction house. As they do not educate themselves thoroughly, they are not aware than in very many cases, the auction house does not hold up its end of that deal - essentially, you get nothing at all in exchange for the price premium. As a result, sub-par pieces go for premium prices. Antiquorum has been notorious in that respect in the past - you are all familiar with Omegamania, and thanks to them, the record for a Zenith A 386 was until recently held by a forgery.
     
    Spacefruit likes this.
  10. richardew Jun 23, 2013

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    I don't have an answer to that question. The pre auction estimate was $12-$18,000. A $12,000 bid would have cost $15,000 with buyers premium added. Considering that the WG Apollo XIs have been selling in the $10-$12,500 range, it would have been a bargain at that price. The value of such a rare piece that rarely comes up for sale is certainly hard to determine.
     
  11. shaun hk Fairy nuffer Jun 23, 2013

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    Hey Spacey, is that great collection of speedies of yours in HK? Or did you come into town for the sale?
     
  12. MSNWatch Vintage Omega Aficionado Staff Member Jun 23, 2013

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    It's a similar crowd that purchases expensive pieces from high end antique stores. There is an oriental antiques dealer in NY - Flying Cranes Antiques that sold pieces at 300-500% mark-up from the prices these exact same pieces fetched at Sothebys and Christies not more than 6 months before! They are still in business so they must be moving their items regularly. I suppose one can say the same thing about the uber expensive sometimes over-refurbished vintage omegas at Somlo antiques - different clientele with deep pockets.
     
  13. LouS Mrs Nataf's Other Son Staff Member Jun 23, 2013

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    Right. On the time-money continuum, these are people on the left of the axis, willing to spend more money than time. It is only normal for professional sellers - dealers & auction houses - to chase them instead of the hardcore collector on the right of the axis. It's easier to move flawed goods at a juicy margin.
     
  14. Kringkily Omega Collector / Hunter Jun 23, 2013

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    If someone wants the wg apollo xi watch only I know a guy :)
     
  15. ulackfocus Jun 23, 2013

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    That's music to the ears of a NY/NJ native.
     
  16. Kringkily Omega Collector / Hunter Jun 23, 2013

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    Everyone loves to know a guy that knows a guy lol
     
  17. Spacefruit Prolific Speedmaster Hoarder Jun 24, 2013

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    Just passing through!
     
  18. Hijak Jun 24, 2013

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    Very Chicago as well!