The watch auction universe has flourished in recent years with the growth of the watch market as a whole and the scores of more traditional players, many of them small and regional – including including Doyle, of New York; Heritage Auctions, in Dallas; Claris Auction Gallery, in San Francisco; Ineichen Auctioneers, in Zurich; Skinner, in Boston; and the Bukowskis, in Stockholm – became eager for consignment watches.
Of them online auction partners are also multiplying rapidly. The world of digital watch auctions currently includes sites like Loupe This, A Collected Man, Catawiki, Dial + Bezel, Doublewrist, and Bezel Brothers, and features aggregators like Priceless and LiveAuctioneers.
However, at the top of the best-selling pyramid in terms of reputation and sales volume, are still established auction houses – Bonhams, Christie’s, Sotheby’s and Phillips – whose direct sales introduce some coins. The most sought after and elusive lake in the world.
The seller must pay the home as much as 15 percent of the hammer price, known as the seller’s fee or the seller’s commission. But what they give up in terms of money and time – it can take six months or more from the date of deposit to get paid – they’re back in touch with a global audience of important collectors.
Paul Boutros, Phillips’ head of watches in the Americas, said the house turned down “about 90% of the watches presented to us”, but the house’s standards were unrelated to the price. even as many sellers might think.
“We have offered watches as low as $500,” said Mr. Boutros. “If it is an interesting watch, even if it is of lower value, we are happy to offer it, if we think our customers will like it.”