AUCTION ADVICE - WHEN BUYING

Posted by on February 01, 2016 . .

CARE WHEN BUYING AT AUCTIONS.....

We are seeing more and more Rolex watches going to auction houses lately, and in turn they are arriving at our office to be inspected and repaired....

Of course the fun of buying a watch at auction is great. The problem we are seeing is when buying a Rolex watch or any other luxury watch brand at an auction, you tend to get excited and carried away in the moment and overpay for a watch that is way above market value.  You are not able to fully inspect the watch with the case back open to check the movement. You are also not really able to guage what if anything maybe wrong with the watch, as the acution house will take a general overview and effectlivly will take no responsability for the item once the hammer hits.....

So what are we advising, if your wanting to buy at the auction house?

We recommend that you research the watch and ensue your happy that the dial, watch case, serial and bracelet all match the watch model number, and if the watch is with paperwork this is correct to the watch.You also should check that the date of the watch is correct to the serial number being shown. Also is the dial correct to the watch, and if aftermarket parts are used then where are they on the watch as this will have a effect on the price when trying to resale at a later date. Has the watch been overused on the bracelet? Is the bezel and bracelet original to the model number or has this been changed.  

The other main factor that a lot of people forget is, will there be any additional costs for the movement to be functional and correct within the watch, and by this we mean is a service required, doe the date function or bezel need attention. All of these unanswered points can soon make a bargin at the auction a very exspensive purchase going forward?

Now not all purchases at an auction require further works once the watch has been purchased has been made, but this is really a game of luck that you have a watch that is in full working order and won't cost you more money when you collect the watch from the auction house after the auction....

These are just a few of the areas that need attention when buying from a auction.....

Personally we would always recommend when buying a luxury time piece such as a Rolex watch, that you buy from a dealer that will advise you about the watch you are buying and also give you warranty on the sale of the item. By buying through a watch dealer you are getting reassurance that the watch has been checked and that the dealer will ensure the working functions are correct. Also you can ensure the cost you are paying will reflex a fully function watch with a guarentee.....

 

Tags: Nottingham Rolex Auction Advice from LWDB Last update: February 01, 2016