RESELLERS VS AUCTION HOUSES

The keyword in choosing a platform to buy or sell a timepiece remains “trust”. Auction houses tend to be much older and more established with large followings and sensational results at times, which lead to lots of media coverage ( see page 48).

Despite a growing mistrust of auction houses in collector circles, they still move significant numbers of expensive luxury watches. And while auction houses normally have greater expertise in and access to vintage timepieces, it’s worth remembering that they charge both buyers and sellers much higher fees, which can run as high as 28 percent, even if they are not able to sell the watch in the end. Trust, pricing transparency and authentication are therefore imperative when choosing a resale platform.