AandEWatches.Info

A San Francisco used Rolex watches expert is launching an information service aimed at collectible watch owners who are stumped about the best way to buy and sell valuable pre-owned watches. The program is called “Call Us First.” Avi Dayan, owner of A&E Watches, a 17-year-old company located in the San Francisco Gift Mart, says he organized the “Call Us First” initiative after reading “a troubling article published this month in the “Wall Street Journal.” The article, “Invisible Hand: How Top Watchmakers Intervene in Auctions,” written by Stacy Meichtry, reported incidences of top watchmakers and a Swiss auction house allegedly conspiring to prop up demand and prices for collectible luxury watches through questionable business practices. Dayan says he agrees with the reporter when she “the business of auctions for collectibles is not always a model of transparency because the identities of most bidders are known only to the auction houses conducting the sale.” The used Rolex watch expert says, in the case of auctions, sellers typically have a minimum price below which they will not sell – and auctioneers often bid anonymously on a seller’s behalf. Dayan says many sellers “don’t realize that the auctioning process is usually not a short one. “For instance, if you’re a daughter who has recently inherited a used Rolex President or a used Patek Philippe watch from your father’s estate and you’re ready to sell so you can invest in something else, you’ll likely wait weeks for the auction to take place – and when it’s over pay the house from 15-30% of the selling price to settle the transaction.” He says such unethical auction practices artificially drive up the price of collectible watches in a market where some timepieces are already commanding higher prices than even a luxury car. “Dishonest buying and selling practices threaten the capitalist market that makes watch collecting the profitable and satisfying investment it has become.” The used Rolex watches expert says “we have never opened our company phones so publicly before. Through ‘Call Us First,’ we are encouraging people to seek out the opinions of experts during the investing process. “Yes,” says Dayan, “our company has a vested interest in talking to callers because we are in the business of buying and selling used Rolex watches, Patek Philippes and other collectible timepieces – but we will always educate a caller before we ever try to buy or sell a watch. Dayan says information in the “Wall Street Journal” article is “one more reminder that collectors of used Rolex watches and other fine collectible timepieces must always exercise caution when buying and selling in this niche industry.” Dayan suggests asking the following questions before buying or selling a used Rolex watch,Patek Philippe or other fine collectible watch: How long has this dealer been in business? Am I dealing with an authentic collectible watch dealer – or is this a pawn shop? Is this dealer an expert in selling used Rolex watches and other watch collectibles? Is this dealer a member of respected professional organizations in the collectible luxury watch market? Does this dealer have the means and experience to bring a vintage used Rolex or other collectible up to top repair status? Is this dealer willing to share the name of his bank to a buyer and seller in the interest of providing financial references? Do I have the feeling that I must buy something from this dealer before I can get the answer to honest questions Institution? For more information about “Call Us First” information service for buyers and sellers of used Rolex watches, used Patek Philippe watches and other fine collectible watches, call Avi Dayan at San Francisco-based A&E Watches at (415) 437-3263, and visit the company website at www.aandewatches.com.

Given biannually, the Rolex Awards are for people taking on new projects or realizing ongoing ventures, who normally work outside the mainstream and often don’t seek funding. Started to create a spirit of enterprise worldwide, the awards “provide visionary individuals with the means to turn their ideas into reality”. Men and women of all ages, nationalities and backgrounds are invited to submit innovative projects in the fields of:

• Science and Medicine
• Technology and Innovation
• Exploration and Discovery
• The Environment
• Cultural Heritage

Winners are picked by a selection committee who judge based on four main criteria: spirit of enterprise; originality; feasibility; and potential impact. Five winners will receive US$100,000, a solid gold Rolex chronometer, the “benefits of official recognition” through an awards ceremony, and international publicity. Up to five other runners-up will also receive a financial award, a steel and gold Rolex chronometer, and will be honored at ceremonies in their home countries.

tagsrolex, awards, used, watch, luxury/tags