Even though I agree that it would probably have sold for more in a specialist watch sale at a higher profile auction house, I still think this shows just how efficient and transparent the market is and what a difference the internet has made. Not only does it allow people to locate and view watches for sale in distant locations but it also allows everyone access to pictures and expertise. For this watch to have made this money in a non-specialist sale in Portugal without online bidding is remarkable to me.

I have lost count of the number of watches that I have bid on in 2015 that were catalogued incorrectly but still sold for many multiples of the auction house estimate. Despondency is setting in as I'm beginning to realise that very few, if any watches, stay below the radar of other vintage watch enthusiasts/collectors, irrespective of how much time and effort I spend researching the market.

A disappointed underbidder (Again).