Wednesday 20th March 2019
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Words: William Gregory MRICS
Featured in the September 2018 issue

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William Gregory MRICS of Golding Young & Mawer brings you news from the sales room.

One of the most buoyant and hotly contested sectors in the auction market is for wristwatches, and of all manufacturers those by Rolex are some of the most sought after in the world.

Whilst the rarest models can make hundred of thousands of pounds at auction and may appear only for the preserve of the rich and famous, there are more affordable models regularly being offered for sale at auction.

For those willing to consider an alternative to Paul Newman’s Rolex, which set an auction record selling for £13.5 million in 2017, a Rolex can be acquired for hundreds, and not millions of pounds.

Illustrated here are some watches recently sold at auction with more affordable prices.

A word of warning, however, to those about to start bidding. Modern technology may make it easier but old rules should be followed to avoid disappointment. Keep to a reputable auction house, preferably in the United Kingdom, unless you are feeling confident.

Check the catalogue for the description, and auction expenses. Ask for a condition report for both the watch and bracelet.

Following the old auction rules should guard against an expensive mistake and reduce the possibility of purchasing a fake watch.

Finally, when purchasing a secondhand watch remember that servicing and repairs should be carried out by a specialist. This should also be factored in when deciding the level of your auction bid.

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