Geno, I am not going but plan to bid on several of the many, many watches. I think we will see some very high bids on many of the watches. What say you? Tony
Posts: 1953 | Location: Atlanta, Georgia in the U.S.A. | Registered: August 01, 2003
Tony I agree, many watches here are so seldom seen that they should bring great prices. But remember even if you don't buy anything, where are you going to go to see so many great watches that you can actually pick up and touch without someone bugging you about it. It's a great chance to see some watches you may never have the chance to touch again. It is also a great time to be in New England, just before it gets busy for the Summer. Good Luck. Geno
Posts: 357 | Location: Foster City, California USA | Registered: August 06, 2007
Geno, Hope you have a great time at the auction. Please do not bid on the watches that I am interested in//////Tony This auction is going to be unreal-------just wait and see------$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ Tony
Posts: 1953 | Location: Atlanta, Georgia in the U.S.A. | Registered: August 01, 2003
I put in an absentee bid in and won the item I was after, I saw some things that looked high and others looked cheap. a 229 The Studebaker brought $475!!! Cheap, but I didnt see what condition it was in.
Posts: 1626 | Location: North Dakota in the USA | Registered: December 09, 2009
I had six bids in and came away empty handed. Some of them went for way more than I would have expected but I wasn't really going after them seriously...just hoping to maybe pick up a deal.
Steve
Posts: 1980 | Location: Kentucky in the USA | Registered: March 18, 2008
Attended Saturday with my wife. Picked-up a Hamilton 950 (lot #193) for $550. I am pleased. I bid on about 10 items and won 1. It is nice to hold them in your hand and give them a good look over before deciding what you want to bid. It was fun ... for me anyway.
Posts: 222 | Location: Massachusetts in the USA | Registered: February 14, 2010
I was told that it was a doctor's estate from Albany, NY. I drove there for the auction & the watches came from my own backyard! I'm 20 minutes from Albany. Go figure....
Posts: 273 | Location: New York in the USA | Registered: May 28, 2008
Geno, How many watches are you bringing home? I think I won 3 watches: Peoria--nice looking movement Hamilton Hayden Wheeler--serial number 76160 Early Seth Thomas--serial number 215 Tony
Posts: 1953 | Location: Atlanta, Georgia in the U.S.A. | Registered: August 01, 2003
I was watching the auction and previewed some items on the site ahead of time and, not being used to these auctions, have a question....
The preview listing had a price - estimate $low and $high. What was that? Selling/evaluation estimate? When the bidding started, some of these watches 'opened' higher than that estimate range!!
And, for those of you used to these auctions - for people who could not be there in person, how do you prepare your max bid? Yes, I know, based on what you want to pay, but, say you set a price on line and the bidding got to $100 over your max, you might have increased your bid if you were there. It strikes me that it must be frustrating that you have no live input on the day of the auction.
Is that how all these auction houses treat bids from off-site? Seems odd to me but I was just watching to get a feel about how these things work. Thanks, Ralph
Posts: 542 | Location: Ontario in Canada | Registered: February 10, 2010
Ralph, online bidders do have the option of having the auctioneer bumping up their maximum bid automatically only one time if they elect to do so beforehand when they entered their bid. As far as the opening bid being higher then the estimate, If the opening bid is higher than the auction house estimate range it's because two or more absentee bidders had put that starting price in as their bid. So it wouldn't make sense to start lower if two or more bidders were already at a higher start point. The hard part for me now is the waiting before I get the watch in my hands! After looking at the pics, blowing them up a bit and scrutinizing them many times, doublechecking the going price, agonizing over how much to bid, waiting forever before the lot number comes up, then boom, in less than a minute, I find myself the winner, only thing left to do now is wait..... I'm sure i'm not the only one....
Posts: 352 | Location: Scottsdale, Arizona USA | Registered: November 25, 2002
If I submit my max bid and it's higher than the estimate price range, I'm not submitting my opening bid. So if I understand what you are saying, the auction house is using max bids as starting bids?? Can't be right. While I checked out the process, I didn't see an opening bid, just a max. Did I miss that?
It just seems like a strange process.
I am aware of the bump up but that is only by a certain amount, say $50.
If I'm not 'live' either in person on on the phone perhaps, I have no option to increase my bid based on the action of the auction. Wouldn't that be in the best interest of the seller getting the best price?
Ralph
Posts: 542 | Location: Ontario in Canada | Registered: February 10, 2010
The best way to illustrate the process they use is with an example. Say the lot is estimated to go from between $300 and $500. I really want it so I put my max bid in at $800. The next highest pre-auction bid (from someone else) is $600. So the floor auction starts at $650. If someone on the floor bids on it for $650, then Jones-Horan will bid for me at $700. If someone bids again at $750, then Jones-Horan will bid my max bid of $800. If the floor bids again at $850, then I'm out unless I check the "Plus One" option in which case they would bid $900 for me. If the bidding continues, I'm out.
Here is another scenario, the estimated range is $200-$300. I would like to get the item as cheap as possible and don't mind if I don't get it. So I bid $150. Nobody else makes a pre-auction bid. So the starting bid is my max bid of $150. If noone on the floor bids, then I win it for $150.
The best way to ensure you get an item is to attend in person, but if you cannot, then you need to decide how much you want it and put it your bid accordingly. If you can't live without it, then bid higher and select "Plus One". If you slightly interested, but can live without it, then bid low and hope to steal it.
I usually place about 30 bids that are at the low estimate and one serious bid which is above the high estimate in these auctions. I don't win much, but I'm happy to get the ones that I do.
In the most recent auction, I picked up a prize.
71. APW - Illinois 23J 60 hour Sangamo Special, 16S, GF OF original stiff bow SB&B Sangamo Special case, SW-LS, WE-DS 24-hour (Canadian market) Montgomery dial, fully capped lever escapement with anti-magnetic HS, marked "Motor Barrel, Adjusted Temp and Six Positions, Sixty Hour" GJS, gold center wheel, plain parallel pattern NI damascene, red lettering, s#4758882 , Estimate: $1,800 - $3,200
John III
Posts: 1755 | Location: Colorado in the USA | Registered: October 17, 2005
I looked at that one real hard, glad you got it. Looks like a honey!
I will add an observation...I won a 950B there, and paid way up for it, but noticed there was a lot of "floor action" on it.
My perception is when an item you placed an online bid on gets that kind of action you can pretty much rest assured it's a good example...the bidders there are knowledgeable enough and have determined it's a good one or wouldn't be getting that much action...I'll see if the condition bears that out when it lands.
Overall, looks like a real good sale...wonder who won the $70,000.00 Potter??
For the most part the very exspensive stuff, went to the phones, although a few in the room. Prices were all over the place as was the condition. I bought lots of stuff, 80 lots on Sat. and 41 lots on Sunday, but paid very close to full value on a lot of them although I did get a few good buys. Geno
Posts: 357 | Location: Foster City, California USA | Registered: August 06, 2007
Geno, when you say "went to the phones" I assume that just means to bidders that weren't physically at the auction, right? I don't believe they are set up real-time for phone bids.... By the way, did anyone here receive their watches they won yet? I have a feeling the Jones Horan crew is probably backlogged.... Harold
Posts: 352 | Location: Scottsdale, Arizona USA | Registered: November 25, 2002
Hi Harold yes, they were very active live on the phone on many lots, some had 2 or more bidders on the same lot. They also had a very strong book or left bids. If you study the prices realized, you will see high, low and full value prices. Tony I will put a few items up when I get the chance, just too busy right now buying and traveling. It will probably be after York before I can get to it. Geno
Posts: 357 | Location: Foster City, California USA | Registered: August 06, 2007
The other thing to consider is the condition of the items ranged from basket case to mint and everything in between and some originality issues. For the most part their condition reports are very good, although obviously they can't catch everything. It took me 17 hours to preview every lot, I had bids on 95% of the sale, won a bunch as I mentioned and was underbidder on many more. I do not open a book or ask anyone about pricing, it is all from experience of the various markets and my own opinion. I am lucky as I consider this work and fun at the same time and never get tired buying, selling or talking about watches. As were many of you, I was in the right place at the right time, with an extreme passion for watches. I have worn the hat of hoarder, collector and dealer, which is where I am now. The best advice for anyone especially the newbies is to buy as many books as you can and study. Go to shows, ask questions and get in a group of experienced collectors and mentors. Make it fun and it won't be work. Lastly, stay hungry. Geno
Posts: 357 | Location: Foster City, California USA | Registered: August 06, 2007
