Antiquorum CEO Evan Zimmerman walked over to me as I was inspecting some watches on the Wednesday preview and with a wink stated "we have more registered bidders than ever". Hmmmmmmmmm.
My mind begins to wander. Everyone who sees me at shows and in NYC like to engage in "market talk". As the self professed "king of market gloom and doom" I am sometimes skeptical of smaller dealers on the street who want me to hear some crap about how they sold a 1501 Date for $2k and expect me to blow it up on my blog and VRF. Maybe they are buried in a few? lol!!
"Real players" lay back in the cut and analyze so I wondered, is this going to be the big market indicator for the season?
I do not know but if yesterday's auction in NYC is any indication of where the market is going, I can only say "WOW"!
There are many ways to get an understanding of how an auction will play out. While sitting at the preview it was clear this was going to be a good one. Lots of people examining watches, pulling them apart, checking serials and casebacks. I was there with my trusty sidekick Viper who loves nothing more than pulling things apart and scrutinizing.
We arrived Thursday morning a bit into the first session, 30 lots in. As I sat down a beaming AQ Chairman Bob Maron walks over tells us the smaller lots in the beginning are doing "extremely well". Nice. Bobby's happy already. That's a good thing.
I was interested in the vintage Rolex, which by all accounts was scarce in this sale on the whole, and big Patek. Lots 93 and 94 go off as expected. Lot 95 then hammers at $7k which IMO is a little strong but not unexpected. Lots 97/98 go the same route. When lot 104 does not hit reserve, I am a little uneasy as it was just so perfect and sold for $100k last year. Then came lot 120, the 5970 Tiff which blew up over $130k+ BC. Lot 140 Breguet clock/watch combo sold for over $500k. By lot 173 the tsunami continued with a nice but ordinary 5513 went for $6k w/buyers commission! Lot 176 Tiffany 1016 was over $6500 w/BC, lot 177 $45k+.
Lot 179 was the killer selling for $84k w/BC. $84k!!!!
Patek lot 216 the "platinum Gilbert Albert" came close to $100k, which really was indicative of most Patek, current or vintage. All sold well which leads me to believe people are looking to plant money somewhere, ANYWHERE, but in the bank and want hard, tangible items with a proven history of value over the long term.
Lot 341 green Milgauss closed at $7200 which is amazing
My personal favorite (lol) lot 343 the Bamford Blackout Daytona closed soft, IMO at around $20k.
Can anyone say PRO-HUNTER???? There is no substitute!
LOL
Lots 350 and 351, 5513 mattes, closed in the mid $4k range, with lot 532 coming close to hitting $50k even with many "non Milsub" issues.
My other personal favorite lot 353 the cream 16550 full set closed over $15k. Lot 354 the 1530 full boat also did very well at $8k.
Lot 356, the orange hand, did not hit reserve which is not surprising as there are alot out there and can be had in the $11k range.
Lot 357 held it's own at $27k+ to round up the Rolex.
The big Patek lots were what really brought home the show:
Lot 401 over $74k, lot 402 clost to $400k but lot 413 and 414 hit the higher of their respective estimates at $780k and $680k+.
I must say, as I watch the market daily I did not see the strong "big Patek" numbers coming. They talk about a lack of money but it is apparent people will sock money into something which has a proven track record. Vintage Rolex is still hanging very strong in the auction world too. One observation I made during the day was there are deals to be had at auction and on the street but the "two tier" market is still in play. If you buy right, you can get top dollar at auction and vice-versa. We see deals on 47th and beyond, but these are serious Patek numbers. Some of the "more common Patek" did almost retail+ in many lots.
Patrizzi and Co are next on October 7th. While they may have not many Rolex in their sale, they are counting on higher quality pieces, as opposed to quantity. I am told by insiders that P & Co have lots coming in droves, but Osvaldo Patrizzi is not accepting anything but prime examples, which is refreshing and necessary.
I am very excited to see what happens on October 7th at Patrizzi & Co. Their sale will either solidify the market as real, or show this AQ auction to be a fluke. I am betting the market is coming back strong, but for the mere fact that cash is worth less and less each day. When inflation hits here and around the world, we can always use a red Subbie to trade for groceries!'
lol
One last comment on yesterday's auction is this: Antiquorum had the "buzz" going...AGAIN! You could feel the electricity in the air when you arrived. Though I had to leave a little early I could tell it was going to be very strong w/sales close to $10 million. Not bad in a slumping Obamamerica, huh?
Again, many congratulations to Bob, Evan and the AQ team for a splendid sale and overall top rate event...
Friday, September 18, 2009
Friday, September 4, 2009
Ready, Set, Go...the auction season begins!
Well, Summer is behind us and we have the wonderful month of September to look forward to. before we look forward, let's look back at the last two months:
As many remember, June was the last auction month before Summer vacation and both P & Co. and AQ had good turnouts. On 47th street July began slowly for most dealers still reeling from the downturn in the economy. Many were happy to be able to pay their bills. While we began July like all the rest, by mid month it began to pick up, with lots of nice collector pieces coming in daily. One of the highlights was a perfect brown dial red 1680 w/full boat. Needless to say it did not last the afternoon, scooped up by a NYC collector in minutes. There was also an abundance of 1655 over the last 6 weeks, 5 to be exact. Most were standard watches but there was a really nice straight hand in early August. The gilt Subbie and GMT also were popping. I personally traded 2 of each with the nicest being a 5513 4 liner bought at the late July NYC Antique Show for the price of a standard 5513. Nice!
I have also handled a bunch of 1803 Presidents, papered and not, which was unusual as they were trading for strong money.
Normal big gold pieces are way down, with single and double quick Presidents of the "80's-90's variety slipping down to under $6-8k, respectively dealer to dealer. Steel Daytonas are still in play between $7500-$8k, with mint examples higher if papered.
The feeling on 47th street is "regular" dealers are willing to touch vintage as many are holding pieces they thought were good deals at the top of the market but did not sell in time. Thus, they are buried in them waiting for a market upturn...YIKES!
Well, the market is holding, but "sketchy". There are few real collectors looking and when they are, they want top shelf pieces and are willing to pay a premium, for the most part. Standard GMT, 5513 are floundering around $3k dealer to dealer with not many real players for much more. Smaller plastic Datejust/Date models are very soft, in the $1k range. I remember when a $1k date head was a no brainer, but these days the dress parts are not bringing much in the secondary market and the mighty EBay. Let's talk about EBay for a minute. It has become the place to steal stuff but as history has told veteran EBayers, the Summer is not the time to sell there. Lots of parts deals are there to be found but you have to sit on it and many would rather pay more to have it when you need it rather than "snipe" or sit in front of a computer.
One section of the market which is booming is the fake/counterfeit Rolex Sport. I cannot tell you how many fakes are floating around from dealer to dealer. Many are bought by wise ass dealers who think they are getting a steal, only to find they bought a fake w/papers...HEY, that happened to me in early August!!! Yeah, I got my money back but it was a real eye opener. I am a very conservative buyer and was really spooked when this occurred. Real papers w/fake case back and middle, w/dial, hands, bezel all real. Numbers are engraved from a legit set of period papers and VIOLA... dangerous fake floating about.
Enough of this, let's get to the two auctions coming up here in NYC. While there are not a lot of sport Rolex in P& Co. for October, the watches are really clean and above average auction quality. OP has been really selective in choosing mint pieces and rejecting over 50% of the watches/junk that has been submitted. I agree, as many feel they can dump a crap piece on an auction house and buyers will think it to be more than what it really is...crap. Not at P&Co. Things are going well for the new (haha, new?) upstart. They are getting loads of watches and are readying for a strong season. The "no hammer" commission is a wonderful thing and I am happy to see it working. Each watch is being examined by a Rolex certified master watchmaker and given a "once over" to ensure it is running and looking great. This is HUGE for an auction house. One of the real problems with auction houses is when buying one must go by the condition report which will state whether a service is needed or not. Bidding on a watch which has been looked at for big problems is a definite plus and should elevate their game.
Having examined at all the Rolex in the upcoming October auction I can say there are no fakes and each piece looks it's very best.
I also had the privilege of examining all the watches for the AQ September 17th auction. Again, not many Rolex but the ones they have are very nice. One piece that stood out was lot 353 16550 Cream w/full boat. What a beauty!
There were other nice Rolex but my personal favorite watch of the auction was lot 104, the black 6238. OMG, what a killer piece. The other watch I was really digging was not a Rolex but lot 119 Patek Nautalis w/factory baguette bezel. Yeah, I know but what a great watch to wear in the pool!!!
On another note, I have begun filming some of the nicer watches at AQ in order to produce a show highlighting the auction houses and special watches. I am arranging to have some of the biggest collectors/dealers in NYC and abroad as guests which will be a real treat for all.
We have been given clearance by both AQ and P& Co. and will approach the other big NYC houses soon, if they do not approach us first.
All in all, I will say the vintage/high end watch market is still holding on. Many here and abroad want hard items to sink money into and these watches have a proven track history of retaining their value. I am very pleased at how the market held this summer and have very high hopes for the Autumn/Winter auctions.
Stay tuned for some preliminary video which will be coming soon. If there are any dealers/collectors who would like to appear in 2010 episodes please call or email me:
tuscanyrose.com
All the best...
JB
As many remember, June was the last auction month before Summer vacation and both P & Co. and AQ had good turnouts. On 47th street July began slowly for most dealers still reeling from the downturn in the economy. Many were happy to be able to pay their bills. While we began July like all the rest, by mid month it began to pick up, with lots of nice collector pieces coming in daily. One of the highlights was a perfect brown dial red 1680 w/full boat. Needless to say it did not last the afternoon, scooped up by a NYC collector in minutes. There was also an abundance of 1655 over the last 6 weeks, 5 to be exact. Most were standard watches but there was a really nice straight hand in early August. The gilt Subbie and GMT also were popping. I personally traded 2 of each with the nicest being a 5513 4 liner bought at the late July NYC Antique Show for the price of a standard 5513. Nice!
I have also handled a bunch of 1803 Presidents, papered and not, which was unusual as they were trading for strong money.
Normal big gold pieces are way down, with single and double quick Presidents of the "80's-90's variety slipping down to under $6-8k, respectively dealer to dealer. Steel Daytonas are still in play between $7500-$8k, with mint examples higher if papered.
The feeling on 47th street is "regular" dealers are willing to touch vintage as many are holding pieces they thought were good deals at the top of the market but did not sell in time. Thus, they are buried in them waiting for a market upturn...YIKES!
Well, the market is holding, but "sketchy". There are few real collectors looking and when they are, they want top shelf pieces and are willing to pay a premium, for the most part. Standard GMT, 5513 are floundering around $3k dealer to dealer with not many real players for much more. Smaller plastic Datejust/Date models are very soft, in the $1k range. I remember when a $1k date head was a no brainer, but these days the dress parts are not bringing much in the secondary market and the mighty EBay. Let's talk about EBay for a minute. It has become the place to steal stuff but as history has told veteran EBayers, the Summer is not the time to sell there. Lots of parts deals are there to be found but you have to sit on it and many would rather pay more to have it when you need it rather than "snipe" or sit in front of a computer.
One section of the market which is booming is the fake/counterfeit Rolex Sport. I cannot tell you how many fakes are floating around from dealer to dealer. Many are bought by wise ass dealers who think they are getting a steal, only to find they bought a fake w/papers...HEY, that happened to me in early August!!! Yeah, I got my money back but it was a real eye opener. I am a very conservative buyer and was really spooked when this occurred. Real papers w/fake case back and middle, w/dial, hands, bezel all real. Numbers are engraved from a legit set of period papers and VIOLA... dangerous fake floating about.
Enough of this, let's get to the two auctions coming up here in NYC. While there are not a lot of sport Rolex in P& Co. for October, the watches are really clean and above average auction quality. OP has been really selective in choosing mint pieces and rejecting over 50% of the watches/junk that has been submitted. I agree, as many feel they can dump a crap piece on an auction house and buyers will think it to be more than what it really is...crap. Not at P&Co. Things are going well for the new (haha, new?) upstart. They are getting loads of watches and are readying for a strong season. The "no hammer" commission is a wonderful thing and I am happy to see it working. Each watch is being examined by a Rolex certified master watchmaker and given a "once over" to ensure it is running and looking great. This is HUGE for an auction house. One of the real problems with auction houses is when buying one must go by the condition report which will state whether a service is needed or not. Bidding on a watch which has been looked at for big problems is a definite plus and should elevate their game.
Having examined at all the Rolex in the upcoming October auction I can say there are no fakes and each piece looks it's very best.
I also had the privilege of examining all the watches for the AQ September 17th auction. Again, not many Rolex but the ones they have are very nice. One piece that stood out was lot 353 16550 Cream w/full boat. What a beauty!
There were other nice Rolex but my personal favorite watch of the auction was lot 104, the black 6238. OMG, what a killer piece. The other watch I was really digging was not a Rolex but lot 119 Patek Nautalis w/factory baguette bezel. Yeah, I know but what a great watch to wear in the pool!!!
On another note, I have begun filming some of the nicer watches at AQ in order to produce a show highlighting the auction houses and special watches. I am arranging to have some of the biggest collectors/dealers in NYC and abroad as guests which will be a real treat for all.
We have been given clearance by both AQ and P& Co. and will approach the other big NYC houses soon, if they do not approach us first.
All in all, I will say the vintage/high end watch market is still holding on. Many here and abroad want hard items to sink money into and these watches have a proven track history of retaining their value. I am very pleased at how the market held this summer and have very high hopes for the Autumn/Winter auctions.
Stay tuned for some preliminary video which will be coming soon. If there are any dealers/collectors who would like to appear in 2010 episodes please call or email me:
tuscanyrose.com
All the best...
JB
Tuesday, August 11, 2009
Summer vacation
Hello faithful readers!
As you may have guessed, we have been on hiatus for the summer but will return September 1st. I wish all of you happy watch hunting!
All the best,
JB
As you may have guessed, we have been on hiatus for the summer but will return September 1st. I wish all of you happy watch hunting!
All the best,
JB
Friday, June 19, 2009
Auction Houses and Transparency
An interesting thing happened the other day. Antiquorum pulled two questionable lots from their Hong Kong auction. While lot 370 was an easy target, lot 413 also was taken off the block as it could not be confirmed as 100% correct. Yes, I know there was a post on VRF the other day slamming AQ regarding lot 370 but after meeting with Evan Zimmerman, AQ CEO, both lots were going to suffer the same fate regardless. It is as I said with lot 198 in P & Co's auction, even though there are many people who handle these watches, sometimes they make it through and get into the catalog. Preparing for a catalog shoot is a wild event, as I can personally attest to. The main thing is both these bad lots are not going to be offered to the public. AQ has a huge operation with many staff members all over the world, and while I am not making any excuses, I can understand how a watch can get past their experts.
You know, when I started my transparency crusade with the auction houses I was not sure how they would take it. Remember these people are there to sell "other peoples" watches. I am pleased at how receptive P & Co and AQ have been, and how quickly they have taken action when something questionable is brought to their attention. Evan and I spoke at great length regarding authenticity and accountability. He is also determined to make sure there are no questionable watches going to auction and assured me he would do all in his power to see it does not happen in the future. I believe him.
I think this blog has a powerful voice and of course, I am always open to suggestion with regard to it's improvement. My goal over the summer is to establish relationships with the other auction houses in NYC Christies, Sothebys and Bonhams, so they too will understand there are many people out there who have an interest in quality and authenticity. I think the auction world is evolving for the better. I am much more comfortable buying and selling as I hope some of you are. If we continue to hold the auction houses accountable, they will raise the bar higher and higher, thus bringing us better and better watches to enjoy!
JB
You know, when I started my transparency crusade with the auction houses I was not sure how they would take it. Remember these people are there to sell "other peoples" watches. I am pleased at how receptive P & Co and AQ have been, and how quickly they have taken action when something questionable is brought to their attention. Evan and I spoke at great length regarding authenticity and accountability. He is also determined to make sure there are no questionable watches going to auction and assured me he would do all in his power to see it does not happen in the future. I believe him.
I think this blog has a powerful voice and of course, I am always open to suggestion with regard to it's improvement. My goal over the summer is to establish relationships with the other auction houses in NYC Christies, Sothebys and Bonhams, so they too will understand there are many people out there who have an interest in quality and authenticity. I think the auction world is evolving for the better. I am much more comfortable buying and selling as I hope some of you are. If we continue to hold the auction houses accountable, they will raise the bar higher and higher, thus bringing us better and better watches to enjoy!
JB
Friday, June 12, 2009
Antiquorum leads the charge...
Well, it is official. AQ put any talk of a market slowdown to rest with a strong turnout yesterday in NYC. They did almost 6 million in sales and have solidified their standing as the "World's Premier Watch Auctioneer".
I was in the Lincoln Tunnel when I was called to bid on the first lot and I was out bid before I saw the light of Manhattan. This was a sign of what was to come as the day progressed. I was very under the weather as Jo and James have been fighting some kind of bug, but Rolex held strong in the first session with these highlights:
Lot 104 Tiffany 16550 Cream w/bill of sale @ $17.4k hammer + commission
Lot 106 6263 w/RC dial @ $54k hammer + commission
Lots 107-110 were strong for current pieces
Lot 205 6262 was right @ $21.6k hammer + commission
Lot 207 6263 Fuerza @ $46.8k hammer + commission
Lot 208 16520 "patrizzi" went wild @ $36k hammer + commission
and so on...
Patek and other non Rolex "heavy" watches were very strong across the board. The McQueen stuff was unreal with the highest prices paid for a Heuer and 5512 !
OK, now that the stats are in the book, let's talk about the unmentionables. As you all know I have been leaning closer to the auction world lately for various reasons. Having been at both Patrizzi and AQ over the last week i have to say there was a definite "buzz" in the AQ room that was not present at P & Co. Look, my job is to be as honest and impartial as possible. Even though I have associated myself with P & Co. as their "Rolex expert", AQ drew far more people and brought higher numbers. True, AQ had 125 more lots than P & Co. but AQ pulled strong Rolex numbers where P & Co did not. Now we all know P & Co. is a new house, but OP himself is leading the charge and quite frankly I believed his presence would create the aura of "the new AQ". Not yet, maybe next time.
This AQ auction along with Christies and Bonhams have made it quite clear that the high end watch market is strong, as long as you sell in a room full of maniacs with the same common goal. Vintage has a real draw for many of us, but also the heavy non Rolex market is doing quite well.
I think we will buy well over the next few months and as I already predicted, the bottom of the market will be here by September. Right September. We are not out of the woods yet. Just look at the stuff available online and how good some of the pricing is. I see good deals on 47th street regularly, but real buyers are not easy to find so we go to the auction houses.
I think we need to still be careful and buy right. Modern stuff has stabilized, but vintage is all based on condition and pricing.
This summer will be a great time to buy, so load up and buy right!
JB
I was in the Lincoln Tunnel when I was called to bid on the first lot and I was out bid before I saw the light of Manhattan. This was a sign of what was to come as the day progressed. I was very under the weather as Jo and James have been fighting some kind of bug, but Rolex held strong in the first session with these highlights:
Lot 104 Tiffany 16550 Cream w/bill of sale @ $17.4k hammer + commission
Lot 106 6263 w/RC dial @ $54k hammer + commission
Lots 107-110 were strong for current pieces
Lot 205 6262 was right @ $21.6k hammer + commission
Lot 207 6263 Fuerza @ $46.8k hammer + commission
Lot 208 16520 "patrizzi" went wild @ $36k hammer + commission
and so on...
Patek and other non Rolex "heavy" watches were very strong across the board. The McQueen stuff was unreal with the highest prices paid for a Heuer and 5512 !
OK, now that the stats are in the book, let's talk about the unmentionables. As you all know I have been leaning closer to the auction world lately for various reasons. Having been at both Patrizzi and AQ over the last week i have to say there was a definite "buzz" in the AQ room that was not present at P & Co. Look, my job is to be as honest and impartial as possible. Even though I have associated myself with P & Co. as their "Rolex expert", AQ drew far more people and brought higher numbers. True, AQ had 125 more lots than P & Co. but AQ pulled strong Rolex numbers where P & Co did not. Now we all know P & Co. is a new house, but OP himself is leading the charge and quite frankly I believed his presence would create the aura of "the new AQ". Not yet, maybe next time.
This AQ auction along with Christies and Bonhams have made it quite clear that the high end watch market is strong, as long as you sell in a room full of maniacs with the same common goal. Vintage has a real draw for many of us, but also the heavy non Rolex market is doing quite well.
I think we will buy well over the next few months and as I already predicted, the bottom of the market will be here by September. Right September. We are not out of the woods yet. Just look at the stuff available online and how good some of the pricing is. I see good deals on 47th street regularly, but real buyers are not easy to find so we go to the auction houses.
I think we need to still be careful and buy right. Modern stuff has stabilized, but vintage is all based on condition and pricing.
This summer will be a great time to buy, so load up and buy right!
JB
Friday, June 5, 2009
Patrizzi Auction June 4th, 2009
As you all now, the Patrizzi & Co auction was held in NYC for the very first time. There was a good vibe in the room when I arrived by lot 15. I was told upon entering, the Omega were doing really well and pulling strong numbers. I had faith that Rolex would do the same. I was very wrong.
While some benchmark Patek like the 5070 in white did well in the low-mid $50's, many Rolex lots pulled lower than expected numbers. Here are some low lights, I mean highlights!
Lot 99 18k Yachtmaster w/MOP ruby dial @ $10.5
Lot 156 bakalite GMT did not sell for $20k
Tudor was lower across the board, except for the turn-o-graph day date.
Lot 200 pointed 5512 w/4 line underline swiss dial sold for $12k
Lot 217 1655 orange hand did not sell for $11k
Lot 154 my DRSD did not sell @ $30k...THANK GOD!!!!!!
and so on and so forth.
What did sell were no name chronographs, Omega and Patek.
I am a little concerned that P & Co. did not pull much out of their rolex. It may be that there was really not much to get excited over but that said, there were 2 Newmans that sold for $50k and a little over $50k.
The days of Rolex flying out are not here, at least not on 57th and Madison. I am really serious to see what happens next week at the Antiquorum sale. They have some nice stuff and if numbers are down for Rolex then we are in for a long summer.
There were some "flukes" like an 18k 1675 w/papers which sold for $30k and a 1601 in solid gold @ $4700.00
Crazy!!! I cannot say if this a real sign that the US economy is starting to tighten it's grip but overseas auctions seemed to pull stronger numbers.
I will say it was nice to know there were no fakes being sold "by mistake". I bought a really nice Patek and while I did bid on many Rolex, I was not comfortable going too high as this market is a little "strange".
next week I will be back for Christies but more important AQ which will really tell us what we have to look forward to...or dread!
JB
While some benchmark Patek like the 5070 in white did well in the low-mid $50's, many Rolex lots pulled lower than expected numbers. Here are some low lights, I mean highlights!
Lot 99 18k Yachtmaster w/MOP ruby dial @ $10.5
Lot 156 bakalite GMT did not sell for $20k
Tudor was lower across the board, except for the turn-o-graph day date.
Lot 200 pointed 5512 w/4 line underline swiss dial sold for $12k
Lot 217 1655 orange hand did not sell for $11k
Lot 154 my DRSD did not sell @ $30k...THANK GOD!!!!!!
and so on and so forth.
What did sell were no name chronographs, Omega and Patek.
I am a little concerned that P & Co. did not pull much out of their rolex. It may be that there was really not much to get excited over but that said, there were 2 Newmans that sold for $50k and a little over $50k.
The days of Rolex flying out are not here, at least not on 57th and Madison. I am really serious to see what happens next week at the Antiquorum sale. They have some nice stuff and if numbers are down for Rolex then we are in for a long summer.
There were some "flukes" like an 18k 1675 w/papers which sold for $30k and a 1601 in solid gold @ $4700.00
Crazy!!! I cannot say if this a real sign that the US economy is starting to tighten it's grip but overseas auctions seemed to pull stronger numbers.
I will say it was nice to know there were no fakes being sold "by mistake". I bought a really nice Patek and while I did bid on many Rolex, I was not comfortable going too high as this market is a little "strange".
next week I will be back for Christies but more important AQ which will really tell us what we have to look forward to...or dread!
JB
Wednesday, June 3, 2009
LOT 198 is pulled from the sale, Patrizzi stands behind quality.
As many have seen after reading my previous post, I was a little unsure if P & Co were really going to do things differently or if it would be just "more of the same". Well, I have to say they are really committed to weeding out anything bad or questionable in order to provide ONLY high quality stuff for those who are interested.
Case in point, lot 198.
This was a really wild story, as I posted below. I did not see this watch for some reason when I was doing the regular inspection. In going through a watch sleeve, I noticed a bad bracelet and subsequently, a fake DRSD. For me, it was so painfully obvious that it was a complete "Vietnam" fake with nothing real but the 1570 movement. When I pointed this out to the staff, Osvaldo was overseas so I took the piece over to Ed Faber at his location to show him. While it was apparent the dial was fake, I kind of got the feeling that Ed was not convinced the case and the rest was wrong. I left it in his hands. Last week the catalog came out and I was not surprised it was still in there, taking up 2 pages! If you check, I posted about it on May 19th and knew the catalog was already at the printer so I figured I would alert anyone who would see it and tell them to stay away! Well, when I went over to check out the preview yesterday Osvaldo himself walked up to me and sincerely thanked me as everyone had handled that watch and did not catch on. He then told me that when he was made aware, he personally examined the watch again and weighed the components, only to confirm the case was counterfeit. I know, some of you are saying "how did this get past everyone"?? Well, as I stated, auction houses are in the business to sell watches and as I am sure when you look at other houses many bad pieces get in mainly because they do not have qualified people (or interested people) willing to stand up and say something is wrong. Think about it, this watch WILL sell for $25k and up, and these places work on commission...need I say more?
NOT THE CASE HERE!!!
The watch is off the block and will be returned to it's owner who may or may not know it was counterfeit when they submitted it. I really feel as though Patrizzi & Co could have gone either way, maybe just say the dial is refinished and let it run and take the money, but that is not the case. OP and I spoke for a good while about honesty and transparency. I truly believe this company is going to set a high standard.
I really feel better about this whole thing.
Yes, there are a still some differences between tuscanyrose and P & Co, but I feel all of this can be worked out.
lol! By this I mean Philip Poniz introduced himself to me (he is a really nice person) and, lot 198 in hand, asked me to show him (and one of their "watch experts") how I can tell so quickly that it is fake.
ARE YOU SERIOUS?
Professor TUSCANYROSE????
I don't think so. Not yet, if you know what I mean. Many of you know me and know I do what I do for many reasons. I was asked to help, and I did. You all also know me as a raging capitalist!!! Get my drift???
So let's just say they were blessed on this auction. We will be discussing my future "position" after the auctions end this spring.
Will I really "pick sides"? I do not know, but I will say I like that these folks are truly serious about making P & Co. the biggest watch auctioneers in the world. They can and will take it to AQ, which will only be good for collectors and dealers alike.
Tomorrow is the big auction and I am feeling comfortable.
This is a good thing.
News at 11...
JB
Case in point, lot 198.
This was a really wild story, as I posted below. I did not see this watch for some reason when I was doing the regular inspection. In going through a watch sleeve, I noticed a bad bracelet and subsequently, a fake DRSD. For me, it was so painfully obvious that it was a complete "Vietnam" fake with nothing real but the 1570 movement. When I pointed this out to the staff, Osvaldo was overseas so I took the piece over to Ed Faber at his location to show him. While it was apparent the dial was fake, I kind of got the feeling that Ed was not convinced the case and the rest was wrong. I left it in his hands. Last week the catalog came out and I was not surprised it was still in there, taking up 2 pages! If you check, I posted about it on May 19th and knew the catalog was already at the printer so I figured I would alert anyone who would see it and tell them to stay away! Well, when I went over to check out the preview yesterday Osvaldo himself walked up to me and sincerely thanked me as everyone had handled that watch and did not catch on. He then told me that when he was made aware, he personally examined the watch again and weighed the components, only to confirm the case was counterfeit. I know, some of you are saying "how did this get past everyone"?? Well, as I stated, auction houses are in the business to sell watches and as I am sure when you look at other houses many bad pieces get in mainly because they do not have qualified people (or interested people) willing to stand up and say something is wrong. Think about it, this watch WILL sell for $25k and up, and these places work on commission...need I say more?
NOT THE CASE HERE!!!
The watch is off the block and will be returned to it's owner who may or may not know it was counterfeit when they submitted it. I really feel as though Patrizzi & Co could have gone either way, maybe just say the dial is refinished and let it run and take the money, but that is not the case. OP and I spoke for a good while about honesty and transparency. I truly believe this company is going to set a high standard.
I really feel better about this whole thing.
Yes, there are a still some differences between tuscanyrose and P & Co, but I feel all of this can be worked out.
lol! By this I mean Philip Poniz introduced himself to me (he is a really nice person) and, lot 198 in hand, asked me to show him (and one of their "watch experts") how I can tell so quickly that it is fake.
ARE YOU SERIOUS?
Professor TUSCANYROSE????
I don't think so. Not yet, if you know what I mean. Many of you know me and know I do what I do for many reasons. I was asked to help, and I did. You all also know me as a raging capitalist!!! Get my drift???
So let's just say they were blessed on this auction. We will be discussing my future "position" after the auctions end this spring.
Will I really "pick sides"? I do not know, but I will say I like that these folks are truly serious about making P & Co. the biggest watch auctioneers in the world. They can and will take it to AQ, which will only be good for collectors and dealers alike.
Tomorrow is the big auction and I am feeling comfortable.
This is a good thing.
News at 11...
JB
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