So I have been looking at the past prices of various watches. Not low end junk but some good examples of rather good pocket watches. I read this article and that article about the "softening" in the markets, with the exception of Rolex, Patek, etc.
So it got me to thinking. What do we usually tell people to do when they want to find a value on a watch? Go look at sold ones on the bay. I think this idea is part of the downfall. No THE contributor, but one of many.
Lets say a seller has no idea what what they have is worth and can't be bothered to research it....like the Hamilton 950B I picked up for $200. Well now there is a price point out there that says a 950B can sell for as low as $200. You also have the typical bargain hunters, of which I am, pushing to get cheaper and cheaper for better means the better gets cheaper and cheaper.
When I was at an actual auction a bit ago, watches were going for more than the bay prices. Truthfully the Amish I was bidding against are willing to pay a good price for a good watch. But even then, that is a different market than the bay. But we tell everyone...go look at the bay for a price. You can say all you want a watch is only worth as much as someone is willing to pay, but when it comes down to it we all want to pay as little as possible. No one goes out saying they want to pay as much as possible.
So have we become our own worst enemy when it comes to the value of our watches?
I know I posted about Zenith being undervalued. That is true when you look at the aspect that people want to pay the least they can for higher quality and that push drives prices down, not up.
I know no one is going to say "Heck yes lets pay more to get the prices up there." I am just thinking.....