No right of withdrawal or return
AUCTIONATA: Caution is the top priority
The first used brand-name watch auction from Austrian start-up auctioneers AUCTIONATA at the end of June did not create the demand that was perhaps hoped for. However, the Austrians decided to try it again on the 10th of July 2011, this time featuring historic collector's watches. Amongst other things, one of the highlights envisioned by AUCTIONATA on their online watch auction is a Patek Philippe in white gold, as well as a 1930's Jaeger LeCoultre Triple. Altogether, 150 watches are to be auctioned.
If the utmost caution is advised for buyers when purchasing used brand-name and luxury watches, it is even more so the case when buying collector's watches. Without skilled examination and on-site personal viewing, such purchases cannot be seriously or safely concluded. Even the most respected expert can run into problems when trying to correctly and objectively estimate the price of a timepiece. Established auctioneers usually set the valuation prices a little lower, trusting also in the opinions of external experts and consultants.
The fact that even the highest bidders at AUCTIONATA are not offered the right of withdrawal or return causes the auctions themselves to appear in a rather questionable light. The alleged valuation prices declared by AUCTIONATA should also be called into question by potential customers, as well as the actual collectability of the watches too. Caution is the top priority! Otherwise the winning bidder can end up looking pretty silly!