Mastering the Art of Watch Auctions: A Comprehensive Guide for Luxury Watch Collectors

Hello, watch enthusiasts and collectors. I am delighted to share my hard-earned knowledge of luxury watch auctions with you, gleaned from my decades-long journey in this intricate and fascinating realm.

Luxury watch auctions are where the old and new, the exquisite and the exceptional, the classical and the cutting-edge meet, uniting collectors, dealers, and horology aficionados. The excitement, the rush, the dance of bidding - it's a spectacle, an event in itself. However, it is also an arena where the ill-prepared can fare poorly. As someone who has stood on both sides of the gavel, I'm here to help you navigate this world and emerge victorious.

The Nuances of Watch Auctions

First, let's talk about the nuances of watch auctions. Unlike a standard retail purchase, auctions are dynamic. They're a game of knowledge, strategy, and at times, pure nerve.

1. The Catalogue: The auction catalogue is your bible. It contains photographs, descriptions, estimates, and, most importantly, the lot number of each piece. Do your homework, read it carefully and mark the pieces you're interested in.

2. Estimate vs. Hammer Price: The estimate is the price range an auction house expects a watch to sell for. However, the final price (hammer price) is decided by bidders. Don't be surprised if the hammer price exceeds the upper estimate, especially for rare pieces.

3. Premiums and Fees: Winning a bid is exhilarating, but remember that the hammer price is not the final price. Buyers must also pay a buyer's premium, typically a percentage of the hammer price, and sometimes taxes, shipping, or other fees. Read more