Yes Ben, I'm agree with you.

: Point taken, but it's the same at Phillips, Christie's or Bonhams -
: everyone pays pays hammer price plus buyers' premium and 20% tax
: on the premium only - (not on the Hammer price with premium)

: Importantly, if you're outside the EU, ie in the U.S. or China or
: Japan, then the tax on the buyers' premium is either not charged
: or recouped at export.

: Auction plays a vitally important part in setting public prices for
: watches. If you're sensible then buying at auction can present
: great opportunities, you just need to be aware - so if say your
: personal limit for a particular watch is net $1000 then don't
: bid higher than $770/80