Unless it’s a grail, does buying at auction make any sense?

M'Bob · Sat. 6:33pm

There is an “important” watch auction happening in Geneva starting tomorrow, and just for fun, I tried to figure out what the additional fees would be on a Patek I have my eye on. So, it looks like I would pay:

28% on the hammer price
8% VAT
12.5% import duty to the US
Additional fees for administration, shipping, etc,

When all is said and done, that’s close (or possibly over) 50% above the price of the watch. Is this absolutely flippin’ insanity, or is it just me?

ghce · Sat. 7:02pm

M'Bob
There is an “important” watch auction happening in Geneva starting tomorrow, and just for fun, I tried to figure out what the additional fees would be on a Patek I have my eye on. So, it looks like I would pay:

28% on the hammer price
8% VAT
12.5% import duty to the US
Additional fees for administration, shipping, etc,

When all is said and done, that’s close (or possibly over) 50% above the price of the watch. Is this absolutely flippin’ insanity, or is it just me?

Yep, that's Crazy with a capital K.
I have pretty much abandoned any online auction platforms, there are many better traditional methods for finding what you want that don't incur any extra charges and the vageries of human auction bidding.

Dan S · Sat. 7:10pm

The final prices at the famous auctions often seem too high for ordinary watches, perhaps there is a celebrity/influencer aspect to it.

However, I often find fair prices including fees at regular auction houses. Aside from other collectors, mid-tier or obscure auctions are the most common way I am buying watches these days.

Mediocre · Sat. 9:34pm

Buyers tend to know value and fees at an auction, and it all gets factored together. The crazy prices are more common on very rare pieces or when rich people get into a pissing contest

eugeneandresson · 2026-11-08T13:35:41-0600

Isn’t that why buyers fly over, collect, and fly back?

Mark020 · 2026-11-08T16:58:41-0600

I’ve bought a number of watches at auctions and my method is simple: my bid is based on an excel in which I incorporate everything. So in the end the seller would have been better off selling it at ebay