Reply With QuoteOmega buying a watch that's achieved a high price at public auction is better for them than buying it cheaper privately, as the auction will demonstrate the value of the brand.Originally Posted by dandanthewatchman
How else can you establish a price for such a rare item, #1 in the series.
Omega buying a watch that's achieved a high price at public auction is better for them than buying it cheaper privately, as the auction will demonstrate the value of the brand.
I offered the watch as a direct sale to Omega, company policy is for public auction. I imagine the publicity from the auction is good for them.
Exactly. I hope you fill yer boots. Great tale.
I enjoyed this thread the first time round and I hope the OP gets a great result. FWIW I noticed reading another article that two of the prototypes, 16 and 19, sold at auction in 2015 for $47,500 for the pair.
https://www.christies.com/lotfinder/...6-details.aspx
Hopefully Sotheby’s misspelling of ‘Alaksa IV’ in the listing won’t put anyone off :).
Thought there was only 12 prototypes.
Only 12 sent to NASA of 20 made.
(According to what I’ve read on this thread and online, I’m just the messenger).
Thanks for the heads up on the misspelling!! I have brought this to the attention of Sotheby’s. I hope it hasn’t affected the sale.
I also hope the Op gets a good result from this. I can’t believe the initial post was 6 years ago!! It certainly doesn’t seem that long.
Good luck with the sale OP.
Is this going to be a Del Boy and Rodney 'Victorian Egg Timer' scenario?
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Is it me or have Sotheby's undercooked the headline description on this? Not even a mention of "rare" or "prototype", never mind an extremely rare prototype no.1. Appreciate its in the blurb within the ad, but still. GLWTS OP.
The misspelling has been corrected. I agree the listing is a bit underwhelming. I have raised my concern over the listing, and asked them to change it. I hope it is not too late.
I am sure any serious buyers would know the score regardless of the listing.
Totally agree - the kind of buyer who will pick this up will be well aware of its importance, and I’m sure it will get the attention of more than one potential bidder.
Even with UK watch auctions I’m sure we’ve all seen low estimates on exceptional pieces in order draw in buyers. Best of luck with the sale.
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Indeed. The non-NASA pair that sold for $47,500 were estimated at $2,000-$4,000.
So guide price of $10-$15k.
So are we taking a guess at what we think it'll go for?
I think it'll easily go up into the mid $20k bracket.
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My guess is $40k
My guess is $125k. Super cool piece of Omega history.
I don't know why I just really think bidding will go a bit mad... 50th anniversary week and all that jazz.
When will we know the auction result ?
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Starts in 2 hours I think.
Great story and i hope the bidders send the final hammer price into orbit.....
Will be really interested in the auction result for this piece.
Best of luck with the auction!
Thanks everyone! Trying to keep expectations realistic and grounded :)
$10,000! Really poor result
Have to say I’m disappointed:(
Someone has got a bargain.
Agreed, personally I think sotherbys did a rubbish job of that, from the initial listing to the issues with the web connection. I reckon you'd have got more for it from the forum. Was hoping for a better result for you.
Agreed. I would have paid £10k in a heart beat
I wonder if it went to Omega. I expect Tom D would have been interested. I’d have been inclined to have a punt if it wasn’t for the fees.
Don't just do something, sit there. - TNH
Are you obliged to sell, or did you have a reserve?
Really surprised by that, very disappointing.
How were values across the auction?
Very few even made the lower estimate.
I’m disappointed... never mind FRC
Just had another look, looks like it went for $12500? So a bit better. Pretty much a bargain still :( and the other Alaska didn’t reach its reserve, which is probably lucky for the owner.
Deeply unimpressed with Sotheby’s.
Wow, that's really poor.
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$10k plus hammer price plus tax = $12.5k (I think)
I’m pretty certain the hammer was $10k
Would $12,5k be including commissions?
I believe the $12500 shon is including the buyers premium but could be wrong and it’s another error their side. What was your reserve? If your reserve was $10k then why the disappointment?
Well, yes, you did. You paid, what, a little over a grand for it?
I wouldn't feel too disappointed if I were you.
Well I guess there are less collectors of these things than we anticipated.
I think the OP has still had a fun journey and a nice touch too.
Not surprised TBH. What is surprising is the price the pair mentioned earlier in the thread sold for.
Indeed. Would seem they overpaid looking at this auction.
Summer auctions? People are off enjoying themselves rather than watching watches.
I'd imagine Sotheby's will take around 40% of the sale as fees, so can understand the OP feeling a little underwhelmed with what he'll eventually receive ($10,000 = £8,000 - 40% fees (guess) = £4,800).
The value of using a major auction house is obviously in their reach to collectors but seems Sotheby's did a bit of a piss-poor job in highlighting exactly what this watch is, and the description changes were quite last-minute.
I personally would have withdrawn the watch from sale and got them to re-do it properly in a future auction, or gone elsewhere. The OP would also then had the benefit of seeing how much lot 41 achieved too (although looks like that one might not have sold?).
Isn’t it usually ~25% fees?
I sold through Christies a few years back and thought their fees were higher than that. You might be right though?
Buyers fees too of course but that's on top of the $10,000 selling price.
Crikey, that was a low final price, I thought it would go a hell of a lot higher?!
You’re a voice in the wilderness here but I agree with you. There’s still a tidy profit here for the OP so I don’t think commiserations are in order.
Still it could have gone for quite a bit more.
Someone was predicting 125k here!
I feel for the OP. Not in the sense that he lost money but what it could have been.
Fair comment. But when I think of Speedmasters it’s the Ed White that comes to mind, not a watch with an LCD display. Perhaps it would have been better to have had a reserve price in mind.
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