If you've never sold a timepiece at auction before, understanding how the process works is important to get the best result for your watch and your wallet.
From a comprehensive examination and certification by an expert watchmaker, professional photography of every lot, to accurate valuations and professional service, there are many reasons why so many choose to sell their valuables with First State Auctions. There are also many important benefits in the service offered by First State Auctions both during and after the sale of your watch, from the bespoke international marketing effort, to the speed at which you can expect sale funds to arrive in your account.
Every step of the way has been carefully considered for a seamless experience, and we're pleased to share some more detail on exactly what goes on behind the scenes at First State Auctions.
1. Submission
If you're looking to sell your watch, you've come to the right place. From the moment you arrive on the First State Auctions site, we're working for you to achieve the best result possible for your timepiece.
The first step is to share exactly what it is you want to sell at auction and the best way to do this is the First State Auctions online submission form. Here, we encourage you to include between three and four images of the watch you want to sell, including any additional accessories you might have (such as the box, papers, spare bracelet links and so on).
In addition to the images of the watch, a description of the timepiece is important to give our experts a clear understanding of the condition and value of your watch. This includes information such as the brand and model of the watch, its age and details of its provenance.
2. Estimation
Once we have all of that information, we should be able to review it and provide you with an estimate of the sale value of the watch and its auction reserve.
This is when you'll also be informed about the First State Auctions seller's fees, which include professional photography, inspection, cataloguing and extensive marketing. First State Auctions will quote a commission based on the value of the watch, a lotting fee, and a certification fee for watches with a reserve price below $1500. This commission percentage will vary depending on the expected final sales price of the watch.
3. Shipping
At First State Auctions we pride ourselves on handling and reviewing every single watch that we sell. Many other auction houses will simply list a timepiece for sale using photos taken by the seller, meaning there is no verification process about the authenticity of the watch, undermining the confidence of potential buyers.
Once we have taken in the details of the watch and agreed to sell it, we will arrange shipping to get the watch to our office. For watches around the $5,000 price mark, we will ask you to ship them to us insured via AusPost, but for more expensive timepieces around the $10,000 mark and above we can arrange a private secure courier to transport the watch.
First State Auctions also offers free international shipping to the winning bidder, ensuring a smooth sales process from start to finish.
4. Watchmaker Check and Cleaning
A part of the sales process that often isn't offered by other auction houses around Australia is an examination and certification of the watch by a certified independent watchmaker. First State Auctions uses two different watchmakers, who have a combined experience of more than 65 years in the business and are also able to perform any straightforward service that might be required before the watch is sold.
This watchmaker's inspection also includes cleaning the watch, to ensure it's in showroom condition before it's photographed, sold and shipped to its new owner.
5. Photography
While many sales channels use photos from the sellers themselves, all watches sold by First State Auctions are photographed professionally to showcase the watch in its best light, giving buyers an accurate understanding of the condition of the watch. Another area where First State Auctions goes above and beyond is that we will video each watch to give a best-in-class presentation of your timepiece, giving buyers the greatest level of confidence in buying your watch.
6. Cataloguing and Marketing
Cataloguing is an important part of any auction sales process, but at First State Auctions we offer detailed descriptions of the timepieces we sell, as well as condition reports that are available in our online catalogue.
While First State Auctions is proudly based in Australia, we are an international auction house with clients worldwide. As a result, we market all of the timepieces we sell around the world, using several different channels to attract an international market of buyers.
In addition to selling some of Australia's most important watches, First State Auctions sells a huge range of luxury watches on a weekly basis and attracts 200,000 visitors to our website every month.
7. Warranty
The strength of the confidence our buyers have in First State Auctions is an important element to successfully selling watches. We have built high confidence over many years and further underscore our buyer's peace of mind by giving a 3-month warranty on every watch we sell.
Why does this matter to you as a seller? The more confidence our buyers have in the watches we sell — especially because they know the watch won't need immediate servicing — the more likely they will purchase a watch without hesitation.
If you have any further questions about the details of our auction process, please don't hesitate to contact one of our knowledgeable specialists directly via email or phone.