I think you make some valid points Eddie - and i think a BIN is not a bad route to take for a more commoditized piece (Viceroy, 11630MH etc…) there is an easy way for both buyers and sellers to assess what each thinks the right market price is based on recent past sales.

I think however for a Siffert or any watch that is rare or where recent comps are not readily available i think the right way to go is with a no reserve auction, we often have no idea just how many people might be out there seeking a hard to find piece, so to list a bin on such a piece is to really cap the price move to the upside.

On the recent rash of record prices for sifferts, orange boys, screwbacks and exotics - there hadn't been any offered for quite some time, so many buyers were just waiting in the wings, when they came to auction with no BIN the prices hit expectations i don't think anyone expected. That's the upside that would have been lost out if the buyer had just listed with a BIN based on prices from 3-4 months ago.

As for BIN purchases - I, like you also love them and i think that pretty much tells the story.

You are right - there are times when selling with a BIN is not bad. I think other times one has to think carefully about what they are selling.