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A luxury watch auction is a great way to connect with interested buyers and achieve a successful sale. The process can be complex, but by choosing a reputable auction house, setting a realistic reserve price, and providing detailed information, both sellers and buyers can increase their chances of success.

Watch Toronto appraisal services love to see their favorite brands produce unique references that perform well at auction. For example, Patek Philippe often produces watches that are catnip for the grail-hunting crowd. References like the Nautilus — worn by Thierry Henry and Hailey Bieber — and the Ref. 5436/1, with its olive green dial and 32 flawless baguette diamonds totaling 3.6cts, regularly hit high auction prices.

To find out what types of watches sell best at auction, researchers at Cornell SC Johnson College of Business analyzed a comprehensive dataset from the luxury watchmaking sector. Using data on media mentions and auction results, they constructed networks that allowed them to assess relationships between firm names and auction prices. Their findings, published in the journal Marketing Science, indicate that when a brand is associated with a particular luxury product, it has a positive impact on that product’s auction price.

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When selling a luxury watch, it is important to provide a clear description and include high-quality pictures of the piece from various angles. Also, disclose any information that may be important to the buyer, including signs of wear and any recent servicing. This transparency can foster a trusting relationship and make the process smoother for both parties. Finally, be aware of any applicable fees, such as the auction house’s buyer’s premium (around 15-25%) and taxes, when establishing a bid.