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Re: High-End Auction Houses . . . Glorified Supermarkets ?

: A few days ago, I was looking through the online catalog for
: the Antiquorum auction, being held tomorrow in New York City. I
: was surprised to see so many watches that are either (a) of very
: recent vintage, or (b) mass-produced watches that are readily
: available in the mall stores or on EBay. To get a better idea of
: what I am describing, check out Lot 28 (Ritmo Mundo), Lot 32 (a
: modern Glycine) and Lot 41 (Oris TT1 Divers). I wondered why
: such watches are being sold through these auction houses, when
: we can just go to the malls on onto our computers to buy them.

: Well, apparently, the folks at Financial Times have been wondering
: the very same thing, and here is an article published a few
: days ago that considers some of these same issues. Some
: highlights of the article: describing the auction houses as
: "little more than glorified watch 'supermarkets' often used
: by retailers to off-load stock they have not managed to shift
: over the counter" . . . ouch!! glorified supermarkets? not
: exactly the images these esteemed auction houses are trying to
: project. the article suggests that the supply of high quality
: vintage watches has dried up for the moment, so the auction
: houses must find modern-day "filler" so that they will
: have enough watches to amass for an auction I will admit to
: being puzzled about the economics of this whole situation. If
: Macy's is selling Oris at 30% off the retail price, how much
: more can this watch be worth when sold as Lot 41 in an
: Antiquorum auction? While I am not an expert in the Ritmo Mundo
: line, if you can find it on EBay with $799 BuyItNow or
: "Make Offer", why is Antiquorum estimating the auction
: price at $200 to $400? What possibly motivates a seller to offer
: through an auction house under these circumstances? Will it
: really be cheaper to buy this one through Antiquorum, rather
: than on EBay?

: Some strange things happening in the world right now . . . I won't
: pretend to understand the economics of some of these auctions.

: Thanks to Twitterer, TheSydneyTarts --
: http://twitter.com/TheSydneyTarts -- for posting re the
: Financial Times article. It did address the issues that I had
: been puzzling about a few days earlier.

: Jeff

Jeff, If I may, I'd like to address a few of your points. I fully agree that they're strange things going on, economy wise, and also
in the watch world. You mention Antiquorum, well, they have to have watches to sell to stay in business, you know that. Now,
if you owned a Rolex Comex, that was selling around the 80 grand mark a couple of years ago, would you now sell that watch
for 25 grand? Yeah, didn't think so. I know that's not a very good example, but it's pretty much a benchmark in what the market
is, for me anyhow.

So, if nobody is selling higher end watches today for half of what they were a short while ago, they have got to sell something. Enter
Ritmo, Glycine, and whatevere else they can get their paws on. And why does AQ put a 200 or 400 dollar estimate on them? Cause that's
all they are worth. Buy a Glycine or Ritmo on the Bay for $799, or buy one from AQ for $400, get a bunch of free catalogs for a year,
and say you are a client of AQ. Sounds like a no-brainer to me.

Supermarket? Yep. I think it's really like Wal Mart though. If you've got the same thing selling at Wally World for 10 bucks, why would
you go to Macy's and pay 25 bucks for it? I would'nt. I suspect you'll see alot more low end pieces at AQ, just because of the economy,
which to me, is not such a bad thing. Will I buy one of these pieces? Not likely. Are you shopping for a Ritmo, Jeff? Yeah, me neither.

Tough times. I think AQ is just trying to survive. If they have to take on lesser pieces, I really can't blame them. AQ just might be a viable
alternative to buying gray market, or the Bay, for that matter. And don't forgt them fancy catalogs. Great post, Jeff...................David

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