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Njnick88 · 6 August 2012, 11:41 AM

Hey All-

Came across an auction website that posts auctions/estate sales for all types of goods (including fine watches like Rolex). Some of the listings include pictures and details about each item. I saw one that was auctioning off at least 20 different Rolexes. What are your opinions on this? Anyone have any experience with buying at an auction? Can you actually get good deals or do you end up paying retail after all the fees and premiums are paid?

Just curious....Nick

moviefreak · 6 August 2012, 11:45 AM

I think that is more dangerous than buying a Rolex from ebay without pictures...

I think it might be ok, if you can go and check the items and then buy... but usually they post pictures that a 5 year old could take so much better...

azguy · 6 August 2012, 11:58 PM

I've been to tons of estate auctions, for the most part items are described much better than they appear in person. I've seen art work, and Rolex's, sell for way more than they are worth IMHO...

77T · 7 August 2012, 12:06 AM

It is how pre-owned dealers get inventory...but it isn't for faint of heart. Akin to Commodities or Currency trading vs. Equity investing. Very speculative.

In the long run, if you work auctions over the years, the downsides are balanced out by the gains you make from getting the off "diamond in the rough".

NYCrussino · 7 August 2012, 11:56 AM

There are a lot of auction websites out there that claim they are a 3rd party arbitrator for estate auctions, MOST are fake...use extreme caution.

horseco · 7 August 2012, 12:31 PM

Sounds VERY risky...

Hairdude1 · 7 August 2012, 01:35 PM

Not for me

Speed · 7 August 2012, 02:00 PM

So what do you think now Nick?

BNA/LION · 7 August 2012, 02:09 PM

Don't do it, IMHO...

93 Turbo · 7 August 2012, 04:13 PM

You really need to know your watches/stuff and be able to inspect the watches in person.

Unless the pics are first rate and you can see all the imperfections, bracelet stretch, over polished cases & dial types for a particular reference, and thats just the scraping the tip of the iceberg.

Safer bet educating yourself & buying preowned here on TRF before risking your hard earned at an auction. Good luck.

J. Alan · 7 August 2012, 05:43 PM

Quote:

Originally Posted by Hairdude1

Not for me

X2 for me. I have been to these auctions and many of the Rolex watches available are blinged-out with non-Rolex parts, sagging bracelets, have no papers or history, and sold for ridiculous prices. Also, some auctions have a buyer's fee up to 15% which in the heat of the bidding, most people forget.

Buy a good used one with an honest assessment from a trusted TFR seller and save yourself from the auction hype.

J. Alan

Puffy · 7 August 2012, 07:26 PM

risky business if you ask me...

6 August 2012, 11:41 AM	#1
Njnick88 "TRF" Member Join Date: Oct 2011 Real Name: Nick Location: New Jersey Watch: SS DJ Posts: 38	Rolex Auctions?? Hey All- Came across an auction website that posts auctions/estate sales for all types of goods (including fine watches like Rolex). Some of the listings include pictures and details about each item. I saw one that was auctioning off at least 20 different Rolexes. What are your opinions on this? Anyone have any experience with buying at an auction? Can you actually get good deals or do you end up paying retail after all the fees and premiums are paid? Just curious....Nick

6 August 2012, 11:45 AM	#2
moviefreak "TRF" Member Join Date: Nov 2008 Location: in my house... Posts: 5,524	I think that is more dangerous than buying a Rolex from ebay without pictures... I think it might be ok, if you can go and check the items and then buy... but usually they post pictures that a 5 year old could take so much better... __________________ Cheers, Eduardo Be a WIS not a WUSS... and remove all the stickers..

7 August 2012, 12:06 AM	#4
77T 2024 SubLV41 Pledge Member Join Date: Dec 2010 Real Name: PaulG Location: Georgia Posts: 41,900	It is how pre-owned dealers get inventory...but it isn't for faint of heart. Akin to Commodities or Currency trading vs. Equity investing. Very speculative. In the long run, if you work auctions over the years, the downsides are balanced out by the gains you make from getting the off "diamond in the rough". __________________ Does anyone really know what time it is?

7 August 2012, 02:09 PM	#9
BNA/LION 2024 SubLV41 Pledge Member Join Date: May 2011 Real Name: Larry Location: San Diego, CA Watch: ROLEX Posts: 25,600	Don't do it, IMHO... __________________ ✦ 28238 President DD 18K/YG ✦ 16610LN SS Sub ✦ 16613 18K/SS Serti ✦ 16550 Exp II Non-Rail Cream Dial ✦ Daytona C 116500 ✦ 126710 BLRO GMT-Master II ✦ NEXT-->? ⛳ Hole In One! 10/3/19 DMCC 5th hole, par 3, 168 yards w/ 4-Iron.

7 August 2012, 07:26 PM	#12
Puffy "TRF" Member Join Date: Oct 2009 Location: Here and there Posts: 12,485	risky business if you ask me... __________________ Fine Quality is Long Remembered After the Pain of Spending Money is Forgotten

6 August 2012, 11:58 PM	#3
azguy Banned Join Date: Sep 2011 Real Name: ------- Location: ------- Watch: --------- Posts: 12,609	I've been to tons of estate auctions, for the most part items are described much better than they appear in person. I've seen art work, and Rolex's, sell for way more than they are worth IMHO...

7 August 2012, 11:56 AM	#5
NYCrussino "TRF" Member Join Date: May 2012 Location: NYC Watch: 16610 Posts: 214	There are a lot of auction websites out there that claim they are a 3rd party arbitrator for estate auctions, MOST are fake...use extreme caution.

7 August 2012, 12:31 PM	#6
horseco "TRF" Member Join Date: Jan 2011 Real Name: Anthony Location: North Jersey Watch: Daytona 116528 Posts: 3,424	Sounds VERY risky...

7 August 2012, 01:35 PM	#7
Hairdude1 "TRF" Member Join Date: Apr 2012 Real Name: Alex Location: Chicago Watch: AP,PP, Rolex Posts: 37,156	Not for me

7 August 2012, 02:00 PM	#8
Speed "TRF" Member Join Date: Aug 2009 Location: USA Posts: 19,706	So what do you think now Nick?

7 August 2012, 04:13 PM	#10
93 Turbo 2024 SubLV41 Pledge Member Join Date: Apr 2010 Location: Australia Watch: Rolex.Tudor.PAM Posts: 1,553	You really need to know your watches/stuff and be able to inspect the watches in person. Unless the pics are first rate and you can see all the imperfections, bracelet stretch, over polished cases & dial types for a particular reference, and thats just the scraping the tip of the iceberg. Safer bet educating yourself & buying preowned here on TRF before risking your hard earned at an auction. Good luck.

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