Hi Mike-interesting points you make and I agree with their likely impact. I watched it live 'on and off' and I'd say that your point 2, was probably a result of point 1.....576 lots in one day-it means they had to rattle through them, which they did!

I did also see a fair proportion of the bids were from 'in-room' buyers, so presumably they were mostly us Brits who are still feeling a lot of uncertainty here. I was still surprised by how much went unsold too though....

Best,
Steve

: Hard to say why this didn't go higher but I have some thoughts...

: 1. This was a "kitchen sink" auction where I even
: suffered from fatigue after watching so many pieces go by...I
: thought it was way too big with too many lots.
: 2. This watch was hammered within a minute or so...much different
: than Phillips where the drama plays out over several minutes.
: 3. I think we are seeing that these subject specific auctions are
: the way to go - these big general auctions seem
: To make it hard to truly give keynote pieces the proper hype.
: 4. Regarding Brexit, I know that these auctions are open to the
: world via online bidding but I've been told that the in-room
: activity at WoK auctions usually makes up for a fair bit of the
: sales and I'd presume many of those folks are locals. So, maybe
: it did play into the results?

: Still...is $60k that bad a result? Compare to a year ago and I
: think not. I seem to recall $25-35k a year ago. Not bad and
: better than a savings account. ;)

: Mike