Jeff, after auction there is a postsell process going, the auction house goes back to the client with the highest bid which was achieved, if the reserve is not met it is up to the client if he decides to let the item go or not.
Hence a non marked sale might be already a sale after the auction, which will not be always marked.
There was also a world record price in this auction for a Heuer stopwatch !!
Cheers
Arno
www.heuerchronographs.com
: speaking of auctions, it seems that both the Sunray DX Carrera
: (said to be one of 12 samples made for the team) and the
: dashboard pair (said to have been used in the filming of Le
: Mans), failed to sell at the Bonhams auction in Los Angeles
: earlier today. The Carrera looked nice, and my guess is that it
: would have fetched around half its $10,000 to $12,000 estimate.
: In my view, the dashboard pair was a complete joke, with no real
: provenance to justify the $60,000 to $70,000 estimate . . .
: should have sold at less than 10% of that range.
: The auction results show them as unsold; I thought that they were
: no reserve; maybe there were minimum bids required to open,
: which were not met. Did anyone follow this auction?
: Jeff
:
:
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