Repossession auctions

Johnnio13

Wibbs et al, have you ever bought from the Repossession auctions. Most of them have no reserve, but also have no papers. Thoughts?
Wilson's have one in a couple of days with some nice timepieces/

Trigger Happy

I attended a jewelery/watch auction once (not a repossession one as far as I know) and there was little value to be had.
The prices went beyond what ebay etc would get and then there was the 10% auctioneers fees on top. No refunds or guarantees etc.
An interesting experience but not a fruitful one for me.

Johnnio13

thanks Trigger.


Seems to be a lot of Brietling and Tag in this sale
https://www.wilsonsauctions.com/lots/government-auctions?id=971212&catId=2363&isIreland=false&tab=&lotPageNo=1

2shea

Would they all be guaranteed genuine pieces

Wibbs

That's the thing about auctions. They're about the least "safe" ways to buy anything. Guarantees are very limited. Way back when I used to go along to general auctions and got some nice bits and bobs from time to time. That was way before the interwebs and old watch collecting being a thing. And before the "Celtic tiger". Since and down to today I found the same as Trigger above; prices were usually daft and the Irish sellers and buyers still have an inflated sense of "value" and not just in watches.

Johnnio13

Typically they'll say:

Ulysse Nardin Maxi Marine Brand: Ulysse Nardin Model: Maxi Marine Model No: 263663 Movement Type: Automatic Bracelet: Rubber Case: Stainless Steel Dial: Brown Bezel Size: 41mm Box: No Papers: No Estimated NRP: £6,850

I suspect they couldn't sell fakes?

artanevilla

In my opinion when you get to a certain price range with watches, with no papers you should be looking for a significant discount. I don't see any value to be had when there's no papers as there isn't too much to be saved.

Fine if you intend to keep the watch, but selling on would prove more difficult.

Johnnio13

Thanks folks for the advice