Reply With QuoteIs that a comma? :-)
Phillips just hammered a lovely Rolex 5517 for £428,500 inc. commission.
I hope people start seeing the value of these issued watches...they're so underrated right now...
;-)
Is that a comma? :-)
As terrifying as that price is, there's a likelihood that it will be cheap in a few years. Or it could be a bubble. If I had the funds I would be buying on the former.
The problem of the bubbles is that with the time they are the reality.
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Probably one of the nicest examples I ever owned and sold many years ago to a good friend who was the vendorOriginally Posted by Mike Wood
I would dearly have liked to buy it back , I exceeded my mental limit of $400k by $20k in the spirit of battle , but at next bid of $480k I just couldn’t bring myself to do it ... shoulda worn my brown pants.
Congratulations to the new owner , you’ve got a superb watch .
As a novice, but genuinely very interested, what makes this particular 5517 such a special watch (especially given some forum members well documented collections of these).
Thanks in advance.
James
Just top of the tree in terms of what it is ...
All original unrestored full spec
W10 caseback ( one of a handful w10 that have serial in back )
W10 and maxi , again one of only a handful with that combo
Service papers
Hudson letter ( to me ! )
Unpolished case
Mint dial with no oil bleed or sloppy mod servicing marks
Lovely patina .
There's the world I live in and then there's another world entirely where milsubs get bought and sold
Last edited by deepreddave; 12th December 2020 at 20:35.
The Omega SM300 milsub just sold for £195k all-in.
Err, wow!
Looked really nice that one. World record apparently.
There is also a nice MN blue Tudor coming up and a Comex! Looking forward to these two
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Any link to these?
https://www.phillips.com/auctions/auction/NY080120/ Lot 19 and 107 :)
I really feel ill reading this Mike - I had one a few years ago via Eric (rebec1) and I moved it on, sadly......
When you look long into an abyss, the abyss looks long into you.........
So much for the bubble bursting, certainly seems to be buyers out there.
I would be interested to know, is the demand just for the really top end pieces (military issue, Comex etc) or is the market still generally strong for 'normal' quality vintage pieces such as the Red Subs, DRSDs and Daytonas etc.
Well - that was an education !!!
As pride comes before a fall, inflated watch prices come before a crushing global recession.
Oh dear.
That said, new buyers coming to the market place all the time, quality vintage pieces getting harder to find - sounds like a recipe for continued strong demand.
Shouldn't look at these. There's a Nautilus 3712 which sold for more than three times what I sold mine for about 3 years ago. To be fair, I did get my money back on it, but even so...
Not sure whether the market will benefit from a kind of TINA effect. For people who have spare funds, the options are fairly limited, and the negative return on cash may keep the market buoyant.
Thanks for taking the time to reply Jed, every day is a school day. I guess this falls into the ‘wish I hadn’t sold it’ category. Twenty twenty hindsight’s a wonderful thing.
An Italian colleague's father has a seadweller with an Octopus logo on it that was issued to him when he was in the police in Milan. I'll be that's worth a few bob too!
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With RMs selling for many hundreds of thousands, I think milsubs remain undervalued. They will keep climbing IMHO
Just waiting for someone on Hatton garden to add the "bussdown" treatment to a milsub. Then there won't be anything left to see in the watch world
RM`s arnt propping up the watch market , they are seriously over priced , emperors cloak ..
We should not be surprised by this.
The only problem is that prices of rare and historic watches (insert bauble of choice, cars, art, wine, single malt etc) is notoriously unstable.
If you're in for the very long haul you'll be fine (probably!) If you are fabulously rich then you probably don't care, if you set your mind on owning it.
Lots of us paying into a pension for years only to be told when you can/can’t retire.
Should have just bought a military issued Submariner, Comex 1665 with dive logs, couple of 6263 Daytona’s and a nice 2915-1 Speedmaster for good measure.
With those watches I think you could live a very comfortable life..
This surprised me more than the 5517 hammer.
I always regret that my father wasn't into watches.....
and the Paul Newman Cosmograph went for $5,475,000
Becketts Military Surplus in Norwich were selling Mil Subs for £140.00 in the mid 80's.
If only we had a time machine...
Putting aside the “showcase” watches, there seems to be an awful lot of over inflated watches that well exceeded the guide price. A 2007 Rolex GMT Master 2 caught my eye. I know it’s new old stock but $35K when the guide price was $8k to $16k seems crazy to me. Bob’s Watches have good examples around the $10k mark so I don’t see why anyone would pay this kind of money. Maybe someone got a bit carried away !!
I was watching a video about these! Rolex Sommozzatori Sea-Dweller 16600 I think - https://www.youtube.com/watch?v=rJWH1xaSDpA&t=191s Only 78 were made (I think) and some were addressed to particular people and hence more collectible, but all seem to be trading way over £100k at the moment:)
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this is amazing.....
Seems to be the case for these rather "common" watches fetching way over market price during big auctions:) Here's a BB Harrods getting around £10k including buyer's premium and tax last year at Philipps https://www.phillips.com/detail/tudor/CH080319/1/ crazy
Always good to have the HH autograph
Last edited by Loupe; 14th December 2020 at 08:20.
Exactly my thoughts! Looking at the lots I was baffled that most went above (and some quite above) the top end of the estimate!
The market has spiked before (several times) and will do so again.
When you look long into an abyss, the abyss looks long into you.........
I knew of mil-subs being sold by Motosail in Weymouth (trays in the counter, £50 a-piece regardless and "if it's faulty just pick another, we'll bin that one"), but hadn't come across stories of Becketts.
How do you know of them selling mil subs and can you tell us any more?
Becketts were established in 1976 and have always sold surplus military kit. Still going strong today, but only stock new watches, mainly Nite, MWC, Trader and Luminox.
I'm local to the area and have heard many stories of them pushing out Mil Subs at £140.00 and WWW's from as little as £15.00.
I did manage to pick up a nice issued (96) CWC Quartz diver in there about 12 years ago for £220.00, which was definitely my best buy from there.
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Interesting, thankyou.
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