Auction Toolkit / Reference Books

[Ninja1980]

Hi

I’ve recently been to a few watch auctions to see what kind of things I could pick up. I must admit it can be quite intimidating to think that if you end up with a turkey, you're basically stuck with it. I was wondering if any of the more experienced member of this forum have any tips (e.g. tools they carry, how to spot a overly worn movement, etc).

I’m also interested in picking up a book or two on watch making in order to understand what I’m looking at a little better. Has anyone got any suggestions?

[ralphy]

R

[SimonK]

I've picked up one or two watches at auction and I have two pieces of advice

1. Never bid on anything you haven't looked at before the auction. There is usually ample opportunity to inspect items the day before and the morning of the sale so take a good look at anything you intend to bid on; and by inspect I mean ask the auctioneer to take it out of the glass case and let you handle it.

2. Don't get carried away by the atmosphere and forget the buyer's premium. I have seen time and again bidding for a fairly ubiquitous watch - Speedmaster, Oyster Perpetual, etc. reach a highish price compared to the market (i.e. ebay, sales corner of a watch forum, even a second-hand dealer price) after a bidding frenzy, and that's before the buyer's premium of 15 - 25% is added to the hammer price.


So, take a look in the catalogue; check the price for the watch elsewhere; inspect the watch; bid up to your maximum taking into account the buyer's premium (with a little margin, say 10%, for excitement) and accept that there is probably someone else in the room with a greater desire and deeper pockets than you.

[Ninja1980]

R

Thanks, I've already got a couple of loupes. However, I don't think a 30x would be much good for looking at watches :)

[Ninja1980]

I've picked up one or two watches at auction and I have two pieces of advice

1. Never bid on anything you haven't looked at before the auction. There is usually ample opportunity to inspect items the day before and the morning of the sale so take a good look at anything you intend to bid on; and by inspect I mean ask the auctioneer to take it out of the glass case and let you handle it.

2. Don't get carried away by the atmosphere and forget the buyer's premium. I have seen time and again bidding for a fairly ubiquitous watch - Speedmaster, Oyster Perpetual, etc. reach a highish price compared to the market (i.e. ebay, sales corner of a watch forum, even a second-hand dealer price) after a bidding frenzy, and that's before the buyer's premium of 15 - 25% is added to the hammer price.


So, take a look in the catalogue; check the price for the watch elsewhere; inspect the watch; bid up to your maximum taking into account the buyer's premium (with a little margin, say 10%, for excitement) and accept that there is probably someone else in the room with a greater desire and deeper pockets than you.

I am quite disciplined when it comes to what I want to pay (thankfully). The only thing that worries me about buying at auction is the fact a lot of dealers will offload stock that is unsaleable and I need to get a decent idea of the kind of things to look out for (e.g. dodgy looking balance wheel, etc)...

[dougjim8]

HI if your worried about getting a bit of a dog there are ways to spot them.

1. Best take a knife or a marketed back opener, so that with the auctionneers approval you can open the back and have a quick look about. Check the amplitude of the balance and general cleanliness of the movement.

2. Another tip is this, when checking the watch, watch it for a minute to make sure the second hand sweeps smoothly all the way round, listen to the watch as well for a while to check and see if you can hear the ticking to be consistent and good, also simple things like give the watch a little rattle in your hand to make sure the dial doesn't move at all. And just check the crown too, make sure everything sets and and moves as it should, if there is any "stickyness" then maybe be a bit wary.

Hope this helps? i am by no way an expert but these are just a few tips i would advise to help make sure that what you get is what you expect.

Doug

[Ninja1980]

HI if your worried about getting a bit of a dog there are ways to spot them.

1. Best take a knife or a marketed back opener, so that with the auctionneers approval you can open the back and have a quick look about. Check the amplitude of the balance and general cleanliness of the movement.

2. Another tip is this, when checking the watch, watch it for a minute to make sure the second hand sweeps smoothly all the way round, listen to the watch as well for a while to check and see if you can hear the ticking to be consistent and good, also simple things like give the watch a little rattle in your hand to make sure the dial doesn't move at all. And just check the crown too, make sure everything sets and and moves as it should, if there is any "stickyness" then maybe be a bit wary.

Hope this helps? i am by no way an expert but these are just a few tips i would advise to help make sure that what you get is what you expect.

Doug

Good tips. What kind of tools do you usually carry to open the case backs? I'm probably going to buy myself a few bits but would like some recommendations on what is going to be the most useful.