Community Stories

What light does it shed on.... (Speedy 2998 content)

NotAClue
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MSNWatch MSNWatch
No question this is bad practice especially when a buyer’s premium is collected. I will say though we don’t complain or point out problems when a valuable watch is poorly described and photographed hoping to snag a deal.


I tend to agree with you but IMO is somehow different. On your scenario the “market” will do its job and favour excellence and condition (normally at the end everyone is happy). Not the same with this one I’m afraid...
 
MikiJ
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Oh boy, I hope I didn't violate any "For my eyes only" agreement. If so, will the Mods please delete.Thanx, Miki
 
Tony C.
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MikiJ MikiJ
Hmmm, OK thank you. The watch was bought 6 months ago at Sotheby’s. Will check this with the Davidoff brothers and let you know.

That certainly doesn't reflect very well. Would they really be so lazy as to simply assume that a dealer's description, or that of another auction house, was necessarily accurate, and not do their own due diligence?
 
MikiJ
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Tony C. Tony C.
That certainly doesn't reflect very well. Would they really be so lazy as to simply assume that a dealer's description, or that of another auction house, was necessarily accurate, and not do their own due diligence?
Point well taken.
 
Dries
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This type of monkey business is everywhere, so I shouldn’t be surprised.

what I can’t understand is why Phillips is doing so, particularly given their own reliance ad nauseam on ‘buy the seller’ and building a business on drawing in the uneducated.

what I would expect is for them to set this one straight, without beating around the bush as happens elsewhere. I would want to see that they are genuinely pleased this was pointed out to them.

EDIT: so this is the same watch then:
https://www.sothebys.com/en/buy/auc...mega-speedmaster-reference-2998-1-a-stainless
Edited:
 
ConElPueblo
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The people who care about a watch like this - I mean really CARE - will not ever consider bidding on it. Someone with enough play money will buy it and he will use it to impress just as uninformed friends. The only losers are those would love to own a vintage Speedmaster, but just have to stay on the side line and watch them stray further out of his financial reach.
 
MikiJ
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So as for me not to violate any "confidential messages", please check for a revised description pointing out that the bezel is incorrect, however the dial is correct.
 
H
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Tony C. Tony C.
That certainly doesn't reflect very well. Would they really be so lazy as to simply assume that a dealer's description, or that of another auction house, was necessarily accurate, and not do their own due diligence?
It's quite shocking to be honest. And why would they have to check with DB.........
 
NotAClue
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H haddemall
It's quite shocking to be honest. And why would they have to check with DB.........


I asked myself the same questions. The only reason is that they are the consigners, I guess... 👎
 
eugeneandresson
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mac_omega mac_omega
So it is even worse to describe it as a 2998-1

hmmm...that’s what I was missing! Serial number is for a -1? If so, then massive ::facepalm1::...
 
mac_omega
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eugeneandresson eugeneandresson
hmmm...that’s what I was missing! Serial number is for a -1? If so, then massive ::facepalm1::...
Yes, described as a 2998-1 and accompanied by an extract from the archives which confirms 2998-1
 
keepsonticking
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I wonder if it's possible they just made a typo and called it a -1 rather than a -4. Was the serial number given? Were there photos of the caseback? Very nice bezel on that one, and the dial is quite attractive. It would make a nice example of a -4. (or 3, maybe)
 
dsio
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keepsonticking keepsonticking
I wonder if it's possible they just made a typo and called it a -1 rather than a -4. Was the serial number given? Were there photos of the caseback? Very nice bezel on that one, and the dial is quite attractive. It would make a nice example of a -4. (or 3, maybe)
Financially speaking that would be a large typo but the post above states the extract also mentioned 2998-1 which would confirm the parts being wrong not he reference being wrong.

I’d point out by the way Christies on a few occasions had dodgy watches, a white gold Constellation 2852 that was a redial, a UG Space-Compax that was a counterfeit, and in both instances once raised they immediately pulled the listing from the catalog to take a closer look. Other auction houses (AQ being a prime example) have been notified of defective or bogus watches and either ignored it or refused to accept anything may be wrong.
 
marco
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Well it certainly puts one off such as myself ever bidding in an auction.
Caveat emptor is indeed the advice to heed unless one is very well informed.
Why would the auction houses do this and risk their reputation ?
One can only assume there is enough "play money " sloshing around for them to take the chance that it will go unnoticed.
Technically and legally they have not been deceitful apart from the ommission of pertinent facts that would detract from the value of the piece. Does duty of care come into play here ,are they being duplicitous ?
Todays values are not what they once were and due diligence needs to be done even when dealing with a supposedly respectable company.
Very poor form.
 
Redwes25
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mac_omega mac_omega
Yes, described as a 2998-1 and accompanied by an extract from the archives which confirms 2998-1

I thought extracts on 2998s didn’t say sub reference and would come back as just a 2998. Case back would have the 2998-1.

ETA - just checked listing and looks like serial number makes movement early 2998-1 but that as others have said that dial and bezel are wrong for it. I am no speedy expert and could figure this out in 5 minutes. Very poor form.
Edited:
 
timjohn
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Tony C. Tony C.
The problem, in my view, is much more broad, as a culture of dishonesty has been created by politicians, Wall Street, the Mainstream Media, and many other large institutions.
As a former member of the Mainstream Media, please let me apologise for inventing dishonesty...
 
H
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As a current member of the Mainstream Media, please let me apologize for inventing dishonesty...
 
M'Bob
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Although I’ve personally never seen a dog eat another dog, that is the world we live in. Far from being an excuse, the geometrically expanding news outlets have made competition unbearable, and when that happens, the next thing you see is cut corners...
 
watchyouwant
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If this Not Watch related exchange continues, can we do that in the Open forum, pls. ? It is the watch discussion section here, not politics.....
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