maintaining value ?October 26 2006 at 8:38 PM
|Tom (Login tonsimonis)|
I am the lucky owner of a GO Karree Toubillon , white gold, the last ones made with the old rectangular shape, only 8 made in the world (they made 8 more white gold ones when the yellow gold limited series had sold out) and I have number 5 (hardly worn).
It is the most beautiful watch I have seen but circumstances in my living surroundings are unsafe regardless of what (Caribbean Island) and I decided to give it a try selling at Antiquorum in Geneva.
I will of course abide by the rules here and not mention prices, but retail value was a certain amount, no promotion for this watch was made as they were all sold when the decision was made to make 8 white gold pieces and I got a reasobly good deal with 20% off.
Antiquorum would be the best in business ( I actually also checked Christies but got an even worse result) but to my big surpises they value this watch at almost 1/3 of the price I paid.
Unbelievable, any Lange & Sohn Tourbillon would go for much more than the GO but the GO it is so perfectly made!
Well, no go for me then. Will just wait till different times. Had some Pateks which they took for avoer purchase price, to me it is just the fact that GO perhaps still not is recognized for the great come back they made and watchmakers they are.
|October 29 2006, 3:49 AM |
You are certainly a lucky guy with a WG Karree tourbillon. I came across a platinum one owned by a friend a few years back. As I understand, it was a flying tourbillon and the rate the tourbillon spins around was incredible. Couldn't even see clearly what was going on in the cage. Much more mesmerising than the Breguet design. Beautiful.
I have experience with these auction houses (Sotheby's etc) and they seem to prefer setting the price/value/low estimate to be very low in order to attract bidder's attention. They believe in setting an atmosphere in the bidding room. I think some recent limited round case GO tourbillons that we still see in AD's were sold in antiquorum for near retail and I cannot believe a discontinued limited one like yours would go at 1/3 the price you bought it for unless you were paying over retail initially. You will be pleasantly surprised how much it will fetch in auction.
With PP, I think because there is a big market with well known auction prices, as you can see different ref. up for auction all the time, so the auction houses cannot set the estimates too low. Compare a 1982 Mouton magnum to a 1955 DRC Richebourg magnum.