Auctions set benchmark prices for watches, but many collectors prefer to shop privately. Some don’t want to be publicly known, while others don’t want to disclose their personal spending habits. Regardless of where you shop, it’s important to have an idea of how much you’re willing to spend. Here are some ways to ensure you get the best value for your money.
Keep in mind that auction houses aim to make their auction lots sound exciting. As such, they stretch the truth, and often make big claims for watches that are not as rare as they appear. This makes non-vintage pieces easy to sell and attract new clients. Therefore, it’s important to read consignment descriptions closely and know what to expect when bidding.
Another way to ensure authenticity is to inspect the watch carefully. Various documents may show if it was previously owned by a previous owner. These include letters, receipts, and pictures. You need to look carefully at all the evidence to make sure you’re getting the right story. In some cases, the auction house might try to hide information or even fabricate documents to sell the watch.
While browsing through an auction website, it’s best to go to the auction house yourself and attend a preview event. This way, you can inspect and hold the prospective pieces in person before you decide to bid. While images can be helpful, there’s nothing like holding and inspecting a watch in person. Plus, it’s a good idea to chat with other auction participants.
In addition to the Big Four, there are other smaller auction houses focused on watches. These are often family owned and tend to have lower commission rates. These companies rely on high-quality consignments to keep their doors open. They’ll need to increase their sales to attract new consigners. Their commission schemes are not nearly as lucrative, and their prices will typically be half as high as the Big Four.
One of the most important benefits of buying a watch through an auction is that you can examine the watch up close and check its quality. Specialists inspect each watch, noting its specification and condition. They also ensure that it comes with proper documentation. If the watch has any flaws, the auction house will discount the price accordingly.
If you’re interested in a watch, you can learn more about the Phillips auction house by visiting their website. The company is the world leader for wristwatches. Their online bidding system is easy to use and makes it possible for you to bid on the pieces that you like. It also offers many unique timepieces from leading manufacturers.
Auction watch collections are expanding rapidly, but the future of this industry is uncertain. While the auction market is still in its infancy, they are a great solution for collectors who are looking for a unique watch.
