Rolex prices at local auction

[Ziplobb]

One of the local auctions here had a couple of 'vintage' pieces in Fridays sale - I left bids for both but seems I (and the auction house) are far off the mark. One lot was an original Explorer, no box or papers and needing a service - went for £5200 plus 15% premium and vat. Second lot was a GMT Master Pepsi in the box looking really very decent but no evidence of recent service - went for £5500 plus the tax. Is that really what this stuff is going for now ?

[jonamv8]

Seems high.

[hilly10]

Never bother with Aution houses never seen a Rolex go for cheap money ever, plus with Vat and buyers premium it adds 45% silly money. I have left a few bids at Fellows in Birmingham to test the market, what they went for was laughable.

[Mad March Taffy]

Agree - I was looking at a Yachtmaster at auction the other day and, when you worked out the total cost, you could get one from a retail dealer for the same money and at least you have some comeback there in the case of a problem

[CRA1G]

hilly10 said:

Never bother with Aution houses never seen a Rolex go for cheap money ever, plus with Vat and buyers premium it adds 45% silly money. I have left a few bids at Fellows in Birmingham to test the market, what they went for was laughable.

I'm sure the VAT is only on the buyers premium not the sale price of the watch.?

[Yell_M3]

Been to the fellows auctions a few times and the prices seem way to high for 80% of the watches. One look on eBay chrono24 and you can get better. Only real bargain I had was a Panerai box!

[Elderly]

CRA1G said:

I'm sure the VAT is only on the buyers premium not the sale price of the watch.?

/\ This.

But add the buyer's premium plus the VAT on it
to the seller's fee with sometimes (depending on auction house) all sorts of add-ons such as
illustration fee, insurance etc.,
and you'll see that the auction houses take a large proportion of the 'value'
with no risk to themselves.

[Femur]

hilly10 said:

plus with Vat and buyers premium it adds 45%

Haha.

[CRA1G]

Elderly said:

/\ This.

But add the buyer's premium plus the VAT on it
to the seller's fee with sometimes (depending on auction house) all sorts of add-ons such as
illustration fee, insurance etc.,
and you'll see that the auction houses take a large proportion of the 'value'
with no risk to themselves.

That may well be,I'm pointig out there's no VAT on the watch...

[Mad March Taffy]

Sometimes there is VAT on the watch and sometime there isn't...

In the case where there is VAT on the watch you pay:

(Hammer price + VAT @20%) plus (Buyers premium + VAT @20%)

So if hammer price is 100 and Buyer Premium is 20% (typical value) - final price is 144

In the case where there is NO VAT on the watch you pay:

(Hammer price) plus (Buyers premium + VAT @20%)

So if hammer price is 100 and Buyer Premium is 20% - final price is 124

[stuttgartmetal]

Add 23% to hammer price.
Yup.
Too dear always.
WFinder better

[Mad March Taffy]

Related question

Looking at buying a Rolex for her indoors - will be a keeper, rather than a short term thing;

Watches without papers - apart from the obvious aspect of resale value - what else should I look out for if considering a watch without original papers?(Under the assumption that the seller is reputable, rather than a bloke in the pub...) I've spotted a potential watch and, whilst the price and condition look good, I would not want to hit the button and then regret it...


Any advice appreciated - thanks

[hosedoctor]

Mad March Taffy said:

Related question

Looking at buying a Rolex for her indoors - will be a keeper, rather than a short term thing;

Watches without papers - apart from the obvious aspect of resale value - what else should I look out for if considering a watch without original papers?(Under the assumption that the seller is reputable, rather than a bloke in the pub...) I've spotted a potential watch and, whilst the price and condition look good, I would not want to hit the button and then regret it...


Any advice appreciated - thanks

I wouldn't buy without the papers! I've never understood how people manage to have a Rolex and loose the paperwork? It's not hard to keep them safe,they haven't got legs for f**k sake! It might not bother you it hasn't got the papers but if you do ever sell it it probably will to the next person!

[pricey759]

hosedoctor said:

I wouldn't buy without the papers! I've never understood how people manage to have a Rolex and loose the paperwork? It's not hard to keep them safe,they haven't got legs for f**k sake! It might not bother you it hasn't got the papers but if you do ever sell it it probably will to the next person!

Agreed. Definitely don't buy without papers. I bought my Submariner 15 years ago and still have the box, papers, tags etc. - despite a couple of house moves and being bloody useless at looking after things. Mind you, when you look at what they fetch on ebay, it's not surprising there's a lot of watches out there without them.

[Mad March Taffy]

pricey759 said:

Agreed. Definitely don't buy without papers. I bought my Submariner 15 years ago and still have the box, papers, tags etc. - despite a couple of house moves and being bloody useless at looking after things. Mind you, when you look at what they fetch on ebay, it's not surprising there's a lot of watches out there without them.

Thanks very much guys - I suspected that was the case but wanted to confirm.....

[Private Pile]

Nothing at all wrong with no box and papers, as long as the price represents this. Only you can decide what they're worth to you.

For me, it would have to be a fairly hefty difference to consider it ( I've kept all my paperwork, receipt and even the store carrier bag ).

[gizlaroc]

Mad March Taffy said:

Related question

Looking at buying a Rolex for her indoors - will be a keeper, rather than a short term thing;

You say that, but as they get older they put on weight and let themselves go, loads of my mates are going through a divorce at the moment. Fingers crossed though.

[casbar]

Mad March Taffy said:

Related question

Looking at buying a Rolex for her indoors - will be a keeper, rather than a short term thing;

Watches without papers - apart from the obvious aspect of resale value - what else should I look out for if considering a watch without original papers?(Under the assumption that the seller is reputable, rather than a bloke in the pub...) I've spotted a potential watch and, whilst the price and condition look good, I would not want to hit the button and then regret it...


Any advice appreciated - thanks

I did the same a few months ago, in the end I bought from Dominic, who posts on here. Great service and a reasonable price, plus a guarantee

[stuttgartmetal]

gizlaroc said:

Mad March Taffy said:

Related question

Looking at buying a Rolex for her indoors - will be a keeper, rather than a short term thing;

You say that, but as they get older they put on weight and let themselves go, loads of my mates are going through a divorce at the moment. Fingers crossed though.

Without doubt the reason I always come back to ph.
Quality pisstake.

[Mad March Taffy]

I must be tired this morning! Had to read it twice before it registered!

Perhaps I could trade the old girl in for a Submariner?