Bob’s Watches Is Changing the Game for Luxury Watch Auctions
The company has integrated an auctioning platform on its website.
With Bob’s Watches’ recent sale featuring a vintage Rolex GMT-Master 1675, the company has inaugurated its very own online auctioning platform.
The world of luxury watch auctions has long been dominated by esteemed auction houses such as Christie’s, Sotheby’s, and Phillips, which traditionally require a buyer’s premium of at least 10%. Often, that amount is enough to purchase a luxury timepiece. With Bob’s Watches’ latest platform, the company is changing the game by omitting the buyer’s premium, which makes the idea of being able to afford a wristwatch from Rolex seem much more feasible.
Back in November, Bob’s Watches put up a vintage Rolex GMT-Master 1675 for sale via its auctioning platform. While the model wasn’t the most rare or in-demand Rolex reference on the market, it came with an interesting story as it originally belonged to a co-pilot Apollo 14 recovery mission. Originally estimated to fetch between $15,000 to $30,000 USD, the timepiece was sold to a bidder from Texas with a winning bid of $25,900 USD.
According to a spokesperson from Bob’s Watches, “Since launching the platform, we’ve run many auctions with tremendous success. We’ve seen some successful hammer prices for rare vintage Rolexes.” They also noted that “By making the auction process more accessible, transparent and affordable, we’re bringing more of these amazing timepieces onto the wrists of passionate watch lovers. And that’s what it’s all about.” Visit Bob’s Watches for information and updates on new auctions.
