Believe me -- I am as surprised as anyone about some of the recent prices -- not only these tow informal auctions, but in the broader market. You may recall an Autavia (3646; first execution) that I sold recently at $3,800, and people wrote to me offering $8,000. So perhaps I am not the best expert in prices.

What I am seeing -- sharply higher prices for the special (very rare) watches; the ones with the names or stories (Orange Boy; Transitional; 2446-2; Seafarer; Panda (SN or NS); Exotic).

Why we are seeing this trend -- seems to be an acceleration of what we have been seeing for the last decade, driven by the same factors:

• great looking watches;
• genuine motorsports pedigree;
• TAG Heuer promoting its heritage and vintage imagery;
• easy drop-down from other brands that have also gone through the roof (sport Rolex)
• enthusiasm for the brand in the watch media [call it the "Hodinkee effect", but it goes beyond that . . . it's that people like Ben like these watches]
• great community of enthusiasts, supporting each other in this mania, with good information and a friendly, fair place to trade the watches [half-way kidding / half-way serious]!!

Jeff

++++++++++++++++++++++++++++

: Hi Jeff,

: I hope all is well.

: I must admit that I have mixed feelings with the lastest price
: developments. From one side it is good for the value of the
: watches. On the other side it affects the good old feeling of
: collecting when prices are going sky-high.

: At such high prices many of our community may not be able to follow
: anymore and have less interest since they are no longer able to
: be as active as they were. Of course it is good for the ones
: that have started buying Heuer for commercial interest, and I
: think this category has increased in the past few years. It will
: for sure attract new buyers, however, more of the type that get
: interested with the prospect of earning money instead of for the
: joy of collecting as such.

: I know it's the same old song, but the feeling is getting stronger
: all of a sudden.

: I was also a bit puzzled recently how an 2446-2 can go from let's
: say € 4000--5000 to nearly € 9000,- within 2-3 months. A few
: weeks before the auction was announced, from another angle I was
: informed on request, that the value of a such a watch was now at
: least € 7000 if not more. To my knowledge this price level was
: not backed by any 2446-2 deal before that. Correct me if I am
: wrong! Until early 2014, it was around 4000-5000. Was the watch
: just underrated, or, was it decided that it was time to put it
: up since there are so few? Or, was it a one-off? I have no clue
: how such a process works, but am very interested to know more
: about this.

: Can someone enlighten these changes to an old fashioned sod whose
: Heuer collection hobby goes back to 1999-2000?

: Ron