Recent ebay overbidding example

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  1. #1
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    Recent ebay overbidding example

    I have given up shopping ebay, but use as info source and value trends. Yesterday a very good well presented mc gold heavy case one with common 15j Elgin went for a high $5800. That is interesting to me since I have several. About $2000. gold value. I recently got similar from a fine and experienced dealer for $3000 with a better Elgin movement. Same unused condition. There were 40 bids and 23 bidders. Until the last 16 seconds it was under $4000 a good high price. 3 final bidders in 13 to 16 seconds were $4800, $5600, $5800. Ebay auctions can be good for sellers and this one had no return provision. Photo of it, vertical. Mine, horizontal. The auction one is a little heavier but not as colorful with the big old style stem and maybe a little better quality case work. About same age.
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    Last edited by artb; June 30th, 2010 at 17:03.

  2. #2
    Member Eeeb's Avatar
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    Re: Recent ebay overbidding example

    Just because the auction closed with that price does not mean it actually sold at that price. I find a substantial percentage of watches I am looking at come back onto the market in a week or so due to failure of the buyer to pay... and many of these are those that I believe are a gross overvaluation.
    "Forever is composed of nows." - Emily Dickinson

    "The watch has to be surrounded by a history.
    You need more than just a great design. You need to create an atmosphere around the product.
    Who is the company behind it? Why are they using this material?
    People need to be able to identify the watch with themselves. It's based on emotion." - Ralph Furter

    ...that's just my opinion and I've been wrong before and will be again and might be now!

  3. #3
    Member Erik_H's Avatar
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    Re: Recent ebay overbidding example

    And sometimes shill bidding happens.
    Erik_H
    Member NAWCC Chapter 149

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    Re: Recent ebay overbidding example

    A third possibility is that sometimes people really want something and will pay substantially more than "typical market value" to try to get it.
    Art, that is one beautiful case on your Elgin--do you have pics of the other side and the dial/movement?

  6. #5
    Member timesofplenty's Avatar
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    Re: Recent ebay overbidding example

    All of the above happens at live auctions, too.

  7. #6
    Member LouS's Avatar
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    Re: Recent ebay overbidding example

    Quote Originally Posted by Erik_H View Post
    And sometimes shill bidding happens.
    +1. That's how I account for some of those items that get re-listed. Shill bidder won, so seller re-lists and claims nonpayment.

  8. #7
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    Re: Recent ebay overbidding example

    Quote Originally Posted by LouS View Post
    +1. That's how I account for some of those items that get re-listed. Shill bidder won, so seller re-lists and claims nonpayment.
    I hope you and other experienced commenters are right. I might go $4000.

  9. #8
    Moderator Public Forum John MS's Avatar
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    Re: Recent ebay overbidding example

    More than a few Ebay sellers use shills as a way around auction reserve price fees.

  10. #9
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    Re: Recent ebay overbidding example

    Quote Originally Posted by Watchloon View Post
    A third possibility is that sometimes people really want something and will pay substantially more than "typical market value" to try to get it.
    Art, that is one beautiful case on your Elgin--do you have pics of the other side and the dial/movement?
    The movement is a nicely decorated common 17j. Otherwise couple photos here of it and an even better one. These cases might have fancy dials, but rarely any with the finest movements.
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    Last edited by artb; June 28th, 2010 at 21:41.

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