Went to an auction.....

Not exactly sure where to put this thread, but we went to a jewellery auction today. I've been to one of these done by the same company before, and we bought a few things last time but no watches. Last year they basically had a bunch of blinged out Rolex models covered in diamonds - most of them aftermarket jobs, and one Piaget men's watch that just didn't do anything for me. These things attract both the general public, and some dealers, so it's quite the audience for the auctioneer.

Lots of blinged out Rolex models again, but also some Rolex's that handn't been butchered too badly. There was a ladies 18K yellow gold with a president bracelet and diamond marker dial (original Rolex dial) that went for $13K Canadian. There was a TT DJ with romans that went for $5,100, and a SS DJ that had some aftermarket white gold bezel added with diamonds, that went for $5,000. Funny to listen to these auctioneers talk about the watches. They had a YG DD there all blinged out with diamonds on the bexel, lugs, and down the center link of the President bracelet (aftermarket). No one asked for it to be offered during the auction (that's how this works - you have to ask for it to be offered) but I heard someone ask "why are these so expensive?" The answer was "Rolex is the best watch money can buy, etc. ....." and then he said something that nearly made me burst out laughing. This guy told the customer that "It takes Rolex a year to make this model!" I could barely contain myself.....

So, there was a Chopard chronograph that had been covered in diamonds, and a ladies Cartier, and two Patek's that were nice. I didn't recognize either model (I'm no Patek expert) but they didn't look like current production. One was a nice YG model with gold dial, and stick hand - very classic men's dress watch. I asked for this to be put into the auction, but it went a bit too high for me ($8,500) - for a little more that that money I could be looking at a Ref. 3919. Then I saw what would be my major temptation for the day.........a Lange 1!



This picture does not do this watch justice. The blue is much darker (I thought it was black at first so was thinking it might be a platinum model) and it has such nice proportions.......exceptional watch!

Now I'm not sure about where all our TRF members live, but in my area these are very hard to find. This watch is kind of my holy grail watch in some respects. This one was just like the one other that I have seen in person, white gold with blue dial and roman markers. Not exactly my ideal combination, but close enough that I started talking fast to my wife....... Fortunately, she is very understanding, and said that if I wanted to bid on it I could, so I asked for it to be put in the auction.....

They had it appraised at $31,500, which is bogus because that's basically list price, and this watch had been worn for sure. However, many items were going at about 1/3rd of the appraised price, and if I was lucky enough to not have another WIS in the room, I might be able to get this one cheap! However, the auctioneer was not my friend today, because more than any other item he auctioned off he talked this watch up.

He was killing me, and he started the bidding at $10K - before I had a chance to put my hand up he had a bid, and then two counter bids, and it was up to $13K in a flash! This was still in play for me, but then he announced a book bid at $15K.... The price went up to $17K, and stayed there for a looooong time. He really milked it, and it was just too much for the model of this watch that is not exactly what I wanted. Dammit!

However, as he kept asking for $17,500, I had to keep my head down and in my mind I repeated the phrase "keep your hand down, keep your hand down......" The hammer fell, and it was gone. I have seen this same watch used for $22K, so this wasn't a bad price, but not low enough for me.

In the end we didn't buy anything, but it was a fun way to spend an afternoon. That watch was the second most expensive thing auctioned today, as the crowd wasn't very big or active at this one - except when it was something I wanted. We looked at many diamonds, rubies, saphires, emeralds, etc...but we didn't see any that were great deals like the last time we went (got the wife a ruby bracelet and 1 carat emerald ring for pennies on the dollar). If you ever get a chance to go to one of these, you should. It will amaze you how inexpensive some items can be (if you know what you are looking for), and you will look at retail in a different way.......

Thanks for reading!

[dman]

Al, two things...one, that does sound like a great afternoon and thanks for sharing pal!!

2. I have had that very watch on the wrist, it belonged to a grey dealer here in town last year. That watch is top of the tops, just beautiful. One day pal, it will be in your family I am sure of it. Damn you have fine taste mate.

[C.J.]

Sounds like an awesome afternoon! I feel you on the watch, absolutely gorgeous!


This probably is my grail watch. I definitely want to own it........... some day. If I can just give up eating, putting gas in my car and a few other overrated luxuries I should have a used one in no time at all.
Seriously though, I'm sorry the bidding didn't go your way but, like Dman said, some day.

[bogey]

same here: ultimate, ultimate dream watch.... lange's are such beauties

[mailman]

Sorry you didn't get it Al. Keep your head up, maybe one day. I too think it's a beautiful watch.

[mailman]

Originally Posted by C.J.

Sounds like an awesome afternoon! I feel you on the watch, absolutely gorgeous!


This probably is my grail watch. I definitely want to own it........... some day. If I can just give up eating, putting gas in my car and a few other overrated luxuries I should have a used one in no time at all.
Seriously though, I'm sorry the bidding didn't go your way but, like Dman said, some day.

Just keep stashing the money you pocket off the raids and you'll have it in no time.

Originally Posted by C.J.

Sounds like an awesome afternoon! I feel you on the watch, absolutely gorgeous!


This probably is my grail watch. I definitely want to own it........... some day. If I can just give up eating, putting gas in my car and a few other overrated luxuries I should have a used one in no time at all.
Seriously though, I'm sorry the bidding didn't go your way but, like Dman said, some day.

If I had my choice, the moon phase would be the one I'd get.......that is one sweet watch!

I would "settle" for the regular Lange 1 however.......

Originally Posted by dman

Al, two things...one, that does sound like a great afternoon and thanks for sharing pal!!

2. I have had that very watch on the wrist, it belonged to a grey dealer here in town last year. That watch is top of the tops, just beautiful. One day pal, it will be in your family I am sure of it. Damn you have fine taste mate.

Thanks Daren......there were a few dealers in the room that bid the watch up, so it just wasn't my day. Oh well.......

When I was looking at the watches, one of the guys caught a glimpse of my GO peeking out from under my leather coat.......he asked about it, and new the model. He said he really wanted to get one, so it seems that being a WIS might be a job hazard of sorts for those auctioning these goods.....

[C.J.]

Originally Posted by mailman

Just keep stashing the money you pocket off the raids and you'll have it in no time.

Shhhhhhhhhhhhhhhhhhhhh!

[JJ Irani]

Nice post, Al...sorry you missed out, but sometimes certain things happen for the good. Maybe there is something better in store for you, pal!! Keep your chin up!!

Al was this in London or did you come to the big smoke?

I think the Lange you've seen was at Van Rijk's, correct? If so, I've had that on my wrist and it's a beauty!

Originally Posted by Atomic

Al was this in London or did you come to the big smoke?

I think the Lange you've seen was at Van Rijk's, correct? If so, I've had that on my wrist and it's a beauty!

The auction was in London - funny, the guy who was showing me the watch had stated that the Lange wasn't supposed to be in this auction, but an auction on Sunday in Montreal. They had apparently advertised it in the Montreal area as a big item in that sale......oops! I'm sure there will some WIS's in Montreal who were pissed it was sold in London on Saturday.....also may have gone higher in that market compared to London?

Yes, the one I have had on my wrist before this one was at Van Rijk's. It's a stunning watch in any combination of metals and dial colours.........

Before I got my ExpII I attended a few auctions in TO's west end. I never once saw a tool model, but loads of DJs and DD, and the vast majority with aftermarket ice.

I saw one diamond and ruby YG DD that went for CDN$13,000. The jewels were aftermarket but actually looked of good quality, but not as good quality as the OEM ice. One time they had 'comedian' Mike Bullard's (or is it 'dullard') TAG Monaco. The strap was in shite condition and they were asking 95% of MSRP. Needless to say, it died on the block.

Auctions are pretty hit and miss. My jeweller tells me to stay away from most of the stuff since he can always beat the quality and price. Sure he's looking after his own interest, but he's also a friend, and I KNOW I can't find better quality or price when he and I are dealing.

Originally Posted by Atomic

Before I got my ExpII I attended a few auctions in TO's west end. I never once saw a tool model, but loads of DJs and DD, and the vast majority with aftermarket ice.

I saw one diamond and ruby YG DD that went for CDN$13,000. The jewels were aftermarket but actually looked of good quality, but not as good quality as the OEM ice. One time they had 'comedian' Mike Bullard's (or is it 'dullard') TAG Monaco. The strap was in shite condition and they were asking 95% of MSRP. Needless to say, it died on the block.

Auctions are pretty hit and miss. My jeweller tells me to stay away from most of the stuff since he can always beat the quality and price. Sure he's looking after his own interest, but he's also a friend, and I KNOW I can't find better quality or price when he and I are dealing.

Yes, I agree that most Rolex models you see are not sport models - in fact I've never seen a sport model at any auction......

Funny how the people who run these auctions always talk up the aftermarket ice as if it was something to be desired over factory jobs......I've heard them go on and on about the aftermarket bling makes "this Rolex a one of a kind model!" LOL!!

Auctions are hit and miss, and in my view you really have to know what you are looking at, which is why I stay away from the diamonds. I'm pretty good with coloured stones of various types, but diamonds are a lot tougher to judge without the proper equipment. I also take the value of the appraisals with a grain of salt, as even under ideal conditions two gemologists will give differing values for a given diamond. If you get a diamond appraised, and then try to sell it, you can expect to get about 20 to 25% of the appraised value - this from personal experience. At this auction there was a ladies ring appraised at $99,500 that went for $20,000, so right on target with wholesale prices if the appraisal is even close..........

Originally Posted by Avalon

Yes, I agree that most Rolex models you see are not sport models - in fact I've never seen a sport model at any auction......

Funny how the people who run these auctions always talk up the aftermarket ice as if it was something to be desired over factory jobs......I've heard them go on and on about the aftermarket bling makes "this Rolex a one of a kind model!" LOL!!

Auctions are hit and miss, and in my view you really have to know what you are looking at, which is why I stay away from the diamonds. I'm pretty good with coloured stones of various types, but diamonds are a lot tougher to judge without the proper equipment. I also take the value of the appraisals with a grain of salt, as even under ideal conditions two gemologists will give differing values for a given diamond. If you get a diamond appraised, and then try to sell it, you can expect to get about 20 to 25% of the appraised value - this from personal experience. At this auction there was a ladies ring appraised at $99,500 that went for $20,000, so right on target with wholesale prices if the appraisal is even close..........

Yeah one of the ones I went to had a 2ct diamond necklace (had about 100 stones) that was appraised at something crazy like, $125,000 and it went for about $30K.

Fun to go to but you rarely get anything good. I did learn a valuable lesson though. Never leave Mrs. Atomic unattended at an auction. I went to the Men's room at one point and when I returned she'd bought a painting and a rug, neither of which we wanted or needed.

Originally Posted by Atomic

I did learn a valuable lesson though. Never leave Mrs. Atomic unattended at an auction. I went to the Men's room at one point and when I returned she'd bought a painting and a rug, neither of which we wanted or needed.

LOL!!! I actually have the opposite problem with Mrs. Avalon.......I have to twist her arm to get her to say she wants something. The previous auction we went to, I kept asking her if she wanted anything, and she said "No!" Of course, I did buy her some things that she really likes, but it was a tough sell at first........