Pepsi went for whaaaaaaat??

[F17RUK]

https://www.phillips.com/detail/rolex/CH080120/75

[andrewjb88]

£28000 jesus

[F17RUK]

[F17RUK]

I was waiting to be able to get this for £2k below msrp - where’s that daily tracker thread?

[TswaneNguni]

Spaceship Pepsi is heading towards the ss Daytona cosmos .

[Henrimontgomery]

Ludicrious. I was there in the room when it happened. Many models sold yesterday (and probably who will sell today) where exchanged at above market price. Strange.

[spacedinvader]

It’s ‘used’ as well. And doesn’t that price exclude the extra 20 or 25% tax that an auction winner pays?

[F17RUK]

Right I am selling mine at that auction!

[Gert]

I guess hence the name “WIS” - Watch IDIOT Savant

[996marty]

Me thinks the bidder got carried away

[travisb]

Stupid

[Jpccarguy]

Originally Posted by Gert

I guess hence the name “WIS” - Watch IDIOT Savant

[watchmework]

up, up and away

[Henrimontgomery]

Originally Posted by spacedinvader

It’s ‘used’ as well. And doesn’t that price exclude the extra 20 or 25% tax that an auction winner pays?

25% + 7.7% of the total.

[TswaneNguni]

Originally Posted by 996marty

Me thinks the bidder got carried away

Maybe inherited money or a fourth wife 30 years younger ......

[brandrea]

Originally Posted by Henrimontgomery

Ludicrious. I was there in the room when it happened. Many models sold yesterday (and probably who will sell today) where exchanged at above market price. Strange.

What do you make of it? Crazy prices lately ...

[Henrimontgomery]

Originally Posted by brandrea

What do you make of it? Crazy prices lately ...

This takes place in La Réserve, which is a posh hotel of Geneva. Plenty of people there had your usual watch (AP, PP, Rolex) but few of them actually bid.
Most of the bids I’ve seen were made via phone or online, with Aurel Bacs playing countries rivalities (Singapore is taking the watch home, Belgium, do you want to leave it that way or do you offer 50’000?).

I really thought I could get the lot 39, Vacheron Constantin. It started at 10k and people fought over it, way beyond what I’d pay for.

My friend was also surprised, but we came with two theories.

1) people buying these don’t care about price, they just want the fun of winning an auction.

2) they are just trying to spend the money to spite their partner.

Plenty of the lots present sold above their market price. I was supposed to be there today as well, but what’s the point. The place was too warm and there’s no chance to get a model at a reasonable price. I’m sure the gold Daytona with green dial will sell above 60k.


Edit: the Kermit sold for a ridiculous amount already : https://www.phillips.com/detail/rolex/CH080120/111

[brandrea]

Originally Posted by Henrimontgomery

... but we came with two theories.

1) people buying these don’t care about price, they just want the fun of winning an auction.

2) they are just trying to spend the money to spite their partner.

...

Your theories sound well reasoned

It’s unbelievable to me that anyone with these means, who really wants a modern day reference, wouldn’t at least look on line at going gray prices and other sources to buy the watch.

[Henrimontgomery]

Somebody just bought the 16700 for 20k.

I’ve inspected it this week, let me tell you it’s not worth 20k...

[YGRLX]

Idiots. Acting like it was a 1 of a kind Van Gogh... every person who bought yesterday would lose 50 percent if they went to resell if not more!

[Henrimontgomery]

Originally Posted by YGRLX

Idiots. Acting like it was a 1 of a kind Van Gogh... every person who bought yesterday would lose 50 percent if they went to resell if not more!

I agree but at the same time, consider the following joke my date used to tell me:

Two Russians are in a hotel lobby. While waiting for their wives, one of them shows his new Patek.

- Have you seen my new watch? I paid 100’000 for it.
The other looks amused, removes his jacket and reveal that he’s wearing the same exact model.
- You’ve been had my friend, I paid 150’000 for mine.

[enjoythemusic]

The far above market value price could also be laundering at work to move currency from one country to another. There's a thread on TRF about this:

https://www.rolexforums.com/showthread.php?t=749697

[MrMercedes]

[quichedem]

I agree with the laundering angle. If this is truly the shape of things to come, though, all is truly lost.

[GBD]

Ha, I was also about to suggest money laundering.

But then, I have been binge watching Ozark...

[Napoleon]

Prices were insane. My favorite was the Patek that was listed at 200k-300k that went for 900k.

What about this theory... Big dealers drove up prices trying to move the market upwards? I noticed all the grey’s prices went up shortly after.

[barters]

I’m in Geneva too. This auction not one for the bargain hunter.


Sent from my iPad using Tapatalk

[Vincent65]

As the age-old saying goes; more money than sense. Makes you wonder how they got it.
It's posturing - 'my antlers are bigger than yours'. Peer pressure. Ego. Not backing down in a live situation. Auction house wins every time. Same with casinos.

[fsprow]

Having been to two of these auctions, for some bidders on high priced items, the auction is an activity, much like a vacation in Monte Carlo or elsewhere. They see friends, have a good time, and look for success in their bidding. And their bid shows their wealth to others, not like quietly purchasing or selling on eBay or Chrono24! Certainly doesn’t bother me, as this activity shows the continued high perception of notable mechanical watches.

[The Argonaut]

Originally Posted by 996marty

Me thinks the bidder got carried away

Absolutely. Stupid money frankly. A "fever" clearly came over the buyer, Then again, auctions are designed to create that "fever" so buyers lose themselves chasing a "prize."