What's your experience selling vintage through an auction house?

Hi OF

I find myself seriously contemplating selling the watch I vowed to be buried with (you know what I mean...) - and if it comes to that I want to consider all the possible sales channels.

I've sold a couple of watches on OF and currently trying Chrono24 with a couple that couldn't get bites on here. While the days of being a seller's market are clearly gone, it seems the auction houses are realising good prices for good vintage examples. That's a fairly uninformed view as largely based on their own marketing of results achieved, so wondering what your experiences have been and/or observations as to the current auction marketplace?

The watch in question is a 1968 Omega 165.024 'Big Triangle' which - in Speedmaster101 terms - I believe would rate as excellent condition. Really appreciate any thoughts...

With thanks,
Martin

And a couple of pics...

I think for 10k and under a forum is a nice controlled environment for a sale.

50k and up I'm sure one of the big auction houses would probably be best as long as you can negotiate down their commission.

Between 10k and 50k is a tricky proposition due to fraud/postage factors and where and how you would advertise the sale.

It's very item specific, if it is a watch that is collectible and in good condition you can do well through the auction process. $10k and over are candidates. Unless you are a heavy hitter with a house, or have something totally unique, you won't be able to negotiate at all on the commission. You will pay for cataloguing, insurance and the sales commission itself. People get hung up on this but they are providing a service, it's not going to be fee free. Many sales today are not done in person but through internet bidding so you don't have to worry about people showing up on auction day. If you are worried about not getting the minimum price acceptable to you you can set the reserve price accordingly so if it doesn't get the minimum bid it is 'bought in' and returned to you. However, if you set that price too high you can kill interest in the piece. The trick is to set the minimum price at a level that will generate interest in the item that will allow the auction process to work to your (and the Houses) advantage.

And I should have asked - if I did approach a house/houses - any recommendations from experience? Being in the Southern Hemisphere Antiquorum and Phillips have Hong Kong physical presence, but I've sent watches to the US and Europe...

Yes, it's that dreaded British car draining my lifeblood...

No other thoughts or recommendations from anyone?

This is a watch that would probably do well in the forum sales section, especially if you were willing to take 20-25% under market value, which is what you get from an auction house, when all is said and done. It's a great watch, but one where the value is pretty well-established, so it's not likely that two bidders will go to war and give you a stratospheric price.

You might try this suggestion first. An auction house could take several months, even 6 months, as they prepare well into the future. Another month for payment sometimes, at least that was my experience on rrauction.com.