Here's a little insight into the auction. Like any other online platform, Drouot requires you to register, giving your full personal details, including a credit card, to enable you to bid on their live auctions. Then you have to additionally register and get approved for any auctions you may be interested in bidding on. Needless to say I did so, on the same day I discovered it ! I was a little surprised they imposed no maximum bidding limit, particularly as I was a 'newbie'.
- DrouotOnlineAuction-Jean-Loup-Chretien-June2022-LeCalvez-Verified.png (13.28 KiB) Viewed 9799 times
However, strange it may seem, their system actually allows you to place an automatic bid, before you've been approved and the auction goes live. I was already dubious about the auctioneer's estimate of €2000 - €3000, but initially entered one for the higher figure. My registration was validated some time afterwards, but in plenty of good time.
- Yema-SpationauteIII-Jean-Loup-Chretien-Drouot-25June2022-LeCalvez-Lot28-Listing-Autobid.jpg (174.85 KiB) Viewed 9794 times
In fact, I subsequently increased my automatic bid to €5500 Euros on the morning of the auction:
- Jean-Loup-Chretien-Yema-SpationauteIII-Drouot-25June2022-LeCalvez-Lot28-Summary-Autobid-Validated-5500.png (71.93 KiB) Viewed 9791 times
Whilst not a complete waste of effort, once Lot # 28 went live, around 13:55 last Saturday, my auto bid's maximum was rapidly eclipsed, by increments, in just a matter of seconds. There seemed to be a lot of interest, both in the room and from other internet bidders. At one stage, I almost resigned myself to losing it.
I'd mentally set myself a maximum manual bid of €10,000 Euros, but when that figure was surpassed, I carried on mashing the 'Raise the bid' button.
- Yema-SpationauteIII-Jean-Loup-Chretien-Drouot-25June2022-LeCalvez-Lot28-Bidding-13000Euros.jpg (208.71 KiB) Viewed 9789 times
I've no idea how many bids were placed, but I'd reckon on 20 or more. Unfortunately, even when the auction lot is live, Drouot only displays the last three bids (per the above screenshot). I was relieved rather than elated when it was over.
Later that afternoon, confirmation of my winning bid arrived in my inbox and this summary appeared on my dashboard.
- Yema-SpationauteIII-Jean-Loup-Chretien-Drouot-25June2022-LeCalvez-Lot28-Won-13000Euros.png (29.49 KiB) Viewed 9779 times
Le Calvez sent their invoice on Monday morning. I planned to pay them by bank transfer using Wise (was TransferWise), to get the best possible exchange rate, but even though there were more than sufficient funds in my bank account, it wouldn't allow me to to transfer more than £10K.
Which necessitated a quick trip to my local branch.
Once I'd overcome that minor obstacle and completed the online transaction, Wise notified me the payment had been deposited in Le Calvez's account a mere 10 seconds later by 11:30 am. It took until Friday morning for them to confirm receipt ! Hence the delay in writing this update. My plan now is to arrange collection of the watch, next week, by my nominated representative - a trusted member of another watch forum.