Friday, December 11, 2009

Winding down from one, gearing up for another!!!

Well, Antiquorum had another MONSTER auction, bringing in over $9 million. $9 million.
It is really good to see the big players stepping up to buy top shelf pieces. It shows they are looking for sound investments and by the looks of these results, they have found them. While Rolex was not in the top 5 highest lots, there were some pretty impressive hammer prices like:
lot 233 @ $182k
This "pre Daytona" 6234 was pristine and it brought in big money for a non oyster.
while the 6238 "pre daytona" lot 232 only brought in $24k, mainly due to the refinished dial.
Lot 226 Milgauss 6541 was respectable even with it's aftermarket hands @ $45k
Parts were strong with lot 206, james bond bezel w/insert sold for $6k, which is about right for a red triangle.
Lot 98 Texas dialed 6263 Paul Newman came in at $70k. Do I say something? Ok, I will say something:
While I have been the one of the "more vocal" dealers speaking out on the texas dial regarding it's status as a "non original" part, these things keep selling and selling for strong money.
It appears people do not really care, so I am taking a back seat and watching the parade! The $10k reward is still up for the taking, and even though I guarantee no one will ever claim it, I am kind of liking these dials these days and would not have a problem wearing one...or dealing one. People know their history and are still paying up, though maybe not as much as a "non texas" Newman dial, so I am backing off.
That said, AQ really took it to the limit with the big Patek lot going $1.2 million w/hammer. Amazing. Big up to Evan, Bob and the crew, and especially Courtney who got my bids in through online problems and all, allowing me to win the 2 lots I wanted most. The bad weather prohibited me from getting to NYC and thanks the great AQ staff (Heather too) my bidding was seamless.
Patrizzi is also shaking things up. While they are setting up for a big payday of their own on Monday, they have a new "silent auction" process which is really going to change the way the big auction houses look at sales. here's how:
During the 3-4 day preview, sellers are allowed to place lots in for an authentic "silent auction". I personally placed 8 pieces with low reserves which will be sold or returned on Monday.
This will allow sellers to circumvent the 3 month turnaround time from drop off to payoff which is a real hassle for guys like me who sell fast and cheap. If it works and pieces sell, it will revolutionize the big auction game and allow more people to join and pull "retail" like prices from their stock. I think Patrizzi has the right idea and even though we have butted heads in the past, I like what they're doing and support them 100%.
I look forward to personally watching the action on 57th Monday. This is a big auction for Patrizzi and I really hope they do well.
news at 11, on Monday that is!