How 21st Century Collectors Use Online Watch Auctions

How 21st Century Collectors Use Online Watch Auctions

How 21st Century Collectors Use Online Watch Auctions Sales & Auctions Sponsored Post

When you are looking to buy a watch online, the available models, sales channels, and providers seem unlimited. At the same time, one quickly notices the vast quantity of watches being sold through auctions – by traditional auction houses, on peer-to-peer marketplaces, or through aggregator websites. So where should you go, if you want to buy an authentic watch from a trustworthy source, for a reasonable price?

Who is Auctionata | Paddle8?

One of our most recommended destinations is Auctionata | Paddle8. As the inventor of the livestream auction, it is certainly the most modern and renowned auction house online. On Auctionata.com, auctions are broadcasted in real-time from their auction studios in Berlin and New York, providing an online auction room that is accessible to bidders worldwide. In May 2016, Auctionata merged with the American auction platform Paddle8. This made the united company with 800,000 registered users and locations in Berlin, New York, London, Rome, Zurich, and Madrid, one of the top 10 auction houses worldwide outside of China and the global online leader in art and luxury collectibles. Together, they have a diverse portfolio of objects, including a broad range of rare and popular watches which are mainly offered on Auctionata.com.

How 21st Century Collectors Use Online Watch Auctions Sales & Auctions

Advantages of Auctionata | Paddle8

The most important aspect for Auctionata | Paddle8 is to create a unique experience based on trust. Consequently, the company works with a global expert network, which ensures a reliable valuation process, and guarantees the authenticity of all objects sold on the platform. Moreover, it focuses on transparent processes and offers a comprehensive service spectrum, including the following:

  • Simple Valuation Process Free of Charge. To sell something with Auctionata | Paddle8 is very easy. The only thing you need to do is upload pictures and details of your items on the website. Their specialists will give you a first valuation within a few days, completely free of charge. To put it in a nut shell: You have to spend no money and almost no time to get a reliable valuation. Based on this initial valuation, you can decide if you would like to consign this item for an auction. In addition to the free valuation, Auctionata | Paddle8 takes care of the entire cataloguing, photography, marketing, logistics, and payments, meaning no administrative hassle for you.

How 21st Century Collectors Use Online Watch Auctions Sales & Auctions

  • Bid Easily Wherever You Are. In Auctionata’s livestream auctions, interested bidders have the opportunity to follow a live sale via PC, tablet, or iPhone and to bid from anywhere in the world on www.auctionata.com or via the Auctionata Live iPhone app. Due to this innovative technology, Auctionata solves one problem that other auction houses have, which is lack of flexibility. In a fast-moving environment, people want flexible solutions, and with Auctionata | Paddle8, they have the possibility to choose between several bidding channels that are available even on the go, regardless of where you are. The patented real-time system ensures a fair process in which all bids are processed in the right order. When buying online, one also faces the problem that you can never really see what you are getting. At Auctionata, the live auction is aired in HD quality, so that you can see every product and all its details close-up. In addition, all the relevant information about the specifications and the condition of each object is published in an online catalogue prior to the auction and can be viewed at any time.

How 21st Century Collectors Use Online Watch Auctions Sales & Auctions

  • Different Formats with More Excitement. In the traditional world, auctions can actually be quite dull. Auctionata | Paddle8 has found many ways in which that can be changed; for example, by offering different kinds of exciting auction shows on their platform. The livestream auctions are divided into event auctions, that include exciting live events, hosted at special locations outside their studios; classic auctions with the character of a traditional auction and daily shows, which are informative and entertaining at the same time. They also offer timed auctions or private sales, and in addition, buyers have the chance to purchase items at a fixed price in its curated online shop. Here you also have the opportunity to return the item within 14 days if it doesn't meet your expectations.

How 21st Century Collectors Use Online Watch Auctions Sales & Auctions

  • Global Expertise. To ensure a reliable and fast valuation of nearly all sorts of items, Auctionata | Paddle8 has assembled a global network of independent international experts from a wide range of categories and collecting fields. Currently, the global expert network comprises nearly 400 specialists worldwide. This broad expertise and the free valuation service allows them to source and offer a broad portfolio of objects that only very few brick-and-mortar auction houses or online platforms can compete with. The in-house specialists also authenticate every object that goes to auction during the process of cataloguing. Even during the live auction show, experts provide additional interesting information about each object and respond to any questions that bidders might ask via the online chat function.
  • The Auctionata Guarantee. Auctionata sells every item with a guarantee, ensuring that the condition of a purchased item and the descriptions provided by Auctionata are accurate. This guarantee holds for 25 years, meaning that you can rest assured that your object of desire is authentic and exactly as described. For more information about the Auctionata guarantee, click HERE.

How 21st Century Collectors Use Online Watch Auctions Sales & Auctions

How To Bid Online

In order to place a bid, your personal details need to be verified; for example, by phone or credit card. Once you are verified, you can enter the auction room and bid on the items you like. If you cannot or do not want to bid during a live auction, you also have the opportunity to place an absentee bid prior to the auction, via the website or via email. The system will then automatically bid for you until it reaches the limit of your bid. There is also the option to bid via telephone. If you make the highest bid the auctioneer accepts on an item, you commit on purchasing it. After the payment is received, Auctionata | Paddle8 takes care of the logistics and ensures that all items arrive safely.

How 21st Century Collectors Use Online Watch Auctions Sales & Auctions

Fees

In addition to the final “hammer price,” the successful buyer has to pay a buyer’s premium, which can differ across categories and value ranges. Moreover, there are shipping and insurance costs which can vary depending on the buyer’s location. All costs and fees are shown to the bidder during the auction and calculated for any additional bidding increment.

For sellers, there are no hidden costs that appear when the item is sold. When the item is sold, a seller’s commission is deducted from the hammer price. This fee can vary across value ranges and is determined in advance within the consignment contract. Only if an item can´t be sold at auction and needs to be stored for a longer period of time, a small storage fee can apply. More information about the fees can be found HERE.

Upcoming Auctions. If you are curious now, you should definitely take a look at Auctionata’s upcoming auctions, which regularly feature highlight watches from Patek Philippe, Rolex, Omega, Breguet, and many more. All dates and details can be found in their auction calendar.

If you don’t want to miss any of their upcoming auctions and highlights, you can sign up for their free newsletter HERE and follow them on Facebook, Instagram and Twitter. auctionata.com

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  • cluedog12

    How 21st Century Collectors Use Online Watch Auctions: Selectively choose past results and subtract off hammer premium to create a lowball offer.

    PS – I do browse Auctionata, haven’t seen anything urged a bid…yet.

  • Raymond Wilkie

    I don’t think i could buy a watch online. I need to feel it , touch it, try it on, bond with it.

    • You’re not talking about a watch anymore, are you?

      • Raymond Wilkie

        I am actually. Am a very tactile person.

  • SuperStrapper

    Exorbitant buyer premiums always kill action opportunities for me. I don’t collect ultra- rare and ridiculously expensive arches, like vietman-era rolexes that look like garbage but are oddly worth 650% of retail, so on the few occasions when I’ve attended auctions that have watches in them and I could see bidding and winning at around 50% of retail, which is nice, but then you’ve got the 25% premium on top = why bother?

  • Marius

    Can someone please explain me why I would buy a watch from an auction house and not from a reputable pre-owned watch dealer?

    I mean, with the exception of a few ultra expensive and beaten-up Pateks and Rolexes (that travel in an endless circle from John Mayer to Charlie Sheen via The Backstreet Boys) over 90% of the watches sold by auction houses are really standard watches that are easily available at most watch dealers: Submariners, Omegas, Reversos, Pateks, Portugiesers, etc. What’s more, due to the rather hefty buyer`s premium (in most cases it’s over 20%) a watch bought from an auction house can be considerably more expensive when compared to a watch dealer. With all the premiums included, you could very well by a brand new watch from the boutique.

    Furthermore, there is the question of trust. The reality is that most watch departments of auction houses are fairly new. On the other hand, most reputable pre-owned watch dealers have tens of years of experience. For instance, I know a dealer in Geneva who has over 40 years of experience. I can tell you that I trust this guy more than all auction houses put together. And, to be fair, there were quite a few scandals involving the authenticity of watches sold at auction.

    • Yep. Just a reminder to be real careful when the auction house “expert” tells you the luminous paint on the Rolex 6204 your looking at is Superluminova……..

  • Questwatch

    Its a very expensive auction house, with usually starting bids that are close to market price, so what is the point of auction?, plus one of the most expensive buyers fee of 29,75%, and usually mediocre offerings without box and papers, and no to the point description of the item such as reputable auction houses have, like reworked dials, polished cases etc. Endless talk show during auction in Europe with some woman and an `expert` to fill in the gaps while no one is bidding. Terrible. Awful pictures with too much flash light. After my 1st buy with them i would stay away.

  • FrankD51

    Guys, this is a Sponsored Post, it is an AD.

  • Horlogère Addict

    Nope.

  • John William Salevurakis

    These “sponsored posts” are the equivalent of someone dropping litter outside The Louvre. On second thought, they are actually a bit like Louvre employees encouraging tourists to do so. I realize you have bills to pay but isn’t there a less vulgar way to do so?

    • Ariel Adams

      Well sure. What would you suggest? We want the community’s feedback. If we could we’d probably focus on users paying a modest monthly fee, and then we cold solely work for them and focus on exclusively great media. However, that’s not a current position we or most websites like us are in. So in the meantime, help us ensure we have a good reason for working hard each day while doing our best to make sure you have good reasons to keep coming back. Thanks, really.

      • John William Salevurakis

        I appreciate your reply, Ariel. Given the choice I prefer ad banners but, if we are being honest, there is already no shortage of these on ABTW either. The layout is just not as clean as other sites and, while I appreciate the very honest approach of labeling “sponsored posts” as such, they are really just intellectual clutter to match what is often the visual clutter of the banners. Does ABTW need to diversify more overtly into the commercial sphere? Books? Watches (vintage or otherwise)? Straps? Perhaps there is something to be gained by diversification and thus allowing alternative revenue streams to support a “cleaner” and more streamlined site?