This well-worn 7A38-701B 'Vulcan', fitted with a black neoprene strap in lieu of the original Seiko p/n Z1118S bracelet, came up in a email notification from the-saleroom.com last week. The live auction by Hansons auctioneers of London, was held today, starting @ 10:30 a.m..
https://www.the-saleroom.com/en-gb/auct ... 2f0095bbb8
The description was simply: A vintage Seiko Chronograph watch (the same as the lot title). I'm surprised they omitted to include 'Gentleman's. The opening bid price was £50 and the auctioneers' estimate was a paltry £80 - £120. Hansons evidently had no idea of the true potential value of what they were selling. You're permitted to place pre-bids, before the live auction starts and I'd placed a couple during the last week. Earlier this morning I was still, albeit temporarily, the high bidder @ £120, but I didn't expect that situation to last for very long, once the auction went live.
In fact, although I was watching it live, I never placed another bid (on the live auction). Bidding was fairly brisk and soon went over £300. With a little encouragement from the auctioneer it made £500 and was eventually hammered down to a bidder in the room for what I'd consider to be a rather expensive £520, in view of the watch's condition.
(The-saleroom.com's ended lot summary didn't become available until the auction had ended, later this afternoon.)
But that's not the final price the buyer will have to pay. Oh No. Not by a long chalk. Additional Fees Apply. See T&C's.
So adding Hansons' hefty 25% commision, fees and 20% VAT increases that £520 by 38.4% to a whopping £720 !
Under-valued 7A38-701B 'Vulcan' sells at auction for £720 !!
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- Posts: 2
- Joined: Sat May 29, 2021 8:57 pm
- Location: Newbury, Berks., UK
Re: Under-valued 7A38-701B 'Vulcan' sells at auction for £720 !!
At the end of the day, its a relatively rare watch.
I would have still liked to have owned it.
So congrats to the buyer, and long may they enjoy it!!!
I would have still liked to have owned it.
So congrats to the buyer, and long may they enjoy it!!!
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- Posts: 2
- Joined: Sat May 29, 2021 8:57 pm
- Location: Newbury, Berks., UK
Re: Under-valued 7A38-701B 'Vulcan' sells at auction for £720 !!
With that said.....if anyone has one for sale please message me.