William, ill try to answer your questions.
There are a number of factors that point to this being bidding fever or mines bigger, plus a flowery description. The winners very low amount of bids and their joining eBay date, screams noob.
One of the things IS the “serviced last week” comment. Ok maybe it was, but define service!
If you took your car to be serviced, and all they did was change oil, not the filter nor anything else, would that be a service?
Obviously if you were a mechanic you’d laugh.
In this case you’re a watch repairer that can spot the obvious signs.
I know it’s dependent upon a persons idea, in your case you’re in the business so a service is a cost issue.
That’s fine, but, serviced in this case could mean just looked at, or he tweaked the regulator, or he set the time. But it’s IMPLIED that it has been cleaned, oiled, timed etc. which to me is the definition of serviced.
Whether or not the seller only paid $10 or more, is irrelevant, it’s the word SERVICED that is misleading when indicators on the watch/case say otherwise.
As DeCarle and many other professionals clearly state, it is impossible to time a dirty watch. Timing is included in a service. If not, it’s not a service if the watch doesn’t keep time, which the seller also claims it does. So two conflicting indicators/stories
There is and old saying, buy the movement not the case/dial. Nor the story, in this case a nice story is attached.
Yes, it’s called salesmanship, but selling a pair of reading glasses to a blind person is also salesmanship, doesn’t make it right.
I could buy a GF case for $50. I could buy a Canadian RR dial for $50-150, rare they ain’t. So we have, at max, $250 for case and dial..
Don’t forget that these are parted out prices! Not the over inflated book prices of those ridiculous price guides.
You can buy a 992 for $250- 350, cased. Or less, or more. But 1k is a bit daft.
Again, not a rare watch.
One of the members on this forum just won 2 – 992s plus another grade for $300.
The reason that the seller paid this price?? Could be anything but.. It’s not rare, I can find others on the bay for two thirds less. So missing from his collection…?
I would say that he was taken by the description, he was watching it for 10 days, he became attached and was determined not to be outbid.
Auctions are emotional and emotions can block clear thinking.
I’m sure the seller was very happy, anyone would be, but the issue is that it’s bidding fever like this, that other sellers see, and think…. Oh gee whiz, my watch is worth $2000 LOL
That’s how over pricing starts, which ultimately raises the price of parts, tools, supplies etc. then the business stops, because prices go higher and higher, and like taxes, they never go down.
The exact same thing has happened with militaria, and it was stared by noobs and dealers. Now it’s stagnant as nothing is sold nor purchased.
Lets face it, it’s the buyers who dictate the prices as something is only worth what someone pays for it, and bid results inspire BUY IT NOW prices, unfortunately it’s the new collectors, those that have a fully loaded credit card and have not studied the market values, that are being greedily seen by other sellers/buyers and causing the stampede.
As Bernie mentions about the 7j watch, this is actually a reality, crazy as it sounds.
So now anyone that followed this auction and has a 992 to sell will think they can raise the bar to that limit. Trust me, I study eBay auctions as a hobby, you can learn a lot about future trends.
I would say most new people in this hobby want to buy cheap, get it running and sell high. This is why we see more overly high priced buy it now’s, than auctions. No one wants to take a loss on their “investment”. This is why private collector groups have started, these groups buy, sell, and trade amongst themselves. These are collectors and historian groups, they aren’t interested in if a watch is running, but they do know value.
This auction was actually posted in the group I belong to as a joke.
So, the question that should be asked is… if he resells this watch how much do you think he will want for it & how will this effect the market?
Keep WATCHing
