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  1. Gavin It's the quiet ones you have to 'watch' out for. Dec 1, 2015

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    image.jpeg Can anyone attempt to explain how this watch sold for $53k excluding commission? We know the auction house and it's a rare bird given the jumbo size but isn't this just crazy?
     
    Edited Dec 1, 2015
  2. Mouse_at_Large still immune to Speedmaster attraction Dec 1, 2015

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    I'll try. In an open auction, a willing seller offered an item that a willing buyer purchased. Leaving aside any considerations of bid manipulation and not knowing the reserve, I find nothing puzzling or crazy in this. Without research I've no idea how the hammer price compares with recently sold examples of the same watch. It may be an exceptional price, but then again, there may not be enough data to make valid comparisons.

    It's an example of the price being what it is, rather than what some people think it ought to be.
     
  3. dsio Ash @ ΩF Staff Member Dec 1, 2015

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    I'm fairly sure Gavin is aware of how an auction works, but is more interested in why it went 10-15 times higher than similar ones, in other words what made this special or was it simply a bit of a bidding war.

    I too would be keen to know why a $3,000 watch most days of the week sold for $53K.

    The only thing that I can think of is perhaps the 14K white gold case, which definitely isn't common, maybe its solid rather than filled, wouldn't be the first time a mistake was made.
     
  4. MSNWatch Vintage Omega Aficionado Staff Member Dec 1, 2015

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    Money laundering by the al-Assad family?
     
    CdnWatchDoc and Darlinboy like this.
  5. lillatroll Dec 1, 2015

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    Perhaps it was 41000 hkd and not 410000 hkd and it was a slip on the keyboard.
     
  6. Mouse_at_Large still immune to Speedmaster attraction Dec 1, 2015

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    I wasn't casting aspersions on Gavin's understanding of auctions ;) What I was trying to say in a clumsy way was that sometimes strange things happen. Maybe it was just 2 or more bidders who really wanted it got into a bidding frenzy. Maybe the planets were in an unusual alignment on that day......:eek:

    *edit* From a quick wander through the web, it appears these are very rare. Perhaps undervalued previously?
     
    Edited Dec 1, 2015
  7. Gavin It's the quiet ones you have to 'watch' out for. Dec 1, 2015

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    That's a stainless steel case. The seller is definitely happy.
     
  8. timeismoney Dec 1, 2015

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    Treasure_Map.jpg
    Perhaps it's got one of these on the case back?