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Watch Auction HQ is a prestigious auction house that specializes in fine jewelry, gems, and watches. This Buyer's Guide educations our customer on the bidding process and how to be successful at winning during our auctions.
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Buyer’s Guide
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Traversing the world bringing its’ marketplace to you instantly.
D.Gamble
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About Us
At Watch Auction HQ we wish to make buying and selling of fine quality jewelry, gems and watches a pleasurable, transparent and memorable experience. We want everyone to bring buyers and sellers into a marketplace that is chock-full full of beautiful choices and values. Where buyers are astonished by the array of stunning jewelry, gems and watches.
Our marketplace brings gorgeous jewelry with diamonds of great quality, watches from Patek Philippe, Audemars and Rolex to vintage Hamilton’s and Longines. You are guaranteed to see something that will dazzle your eye.
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Online
The best way is to visit www.WatchAuctionHQ.
com where the latest news on our auctions is
made available. You may also download our
WA-HQ Mobile App so you can take us with you
wherever you may go. You may also register from
our website to receive alerts and reminders. We
also have a convenient WA-HQ Calendar, both
online and mobile for your convenience.
WA-HQ Magazine
You can view our magazine in online or mobile
form at The Blog, Facebook, Google+, You Tube
and Twitter. Plus, you can view our magazine at
www.issuu.com. As a client, you may subscribe
and receive a magazine automatically from our
website or at our social media sites. And, of
course, our e-magazines are free. Each monthly
magazine has our entire catalog for upcoming
auctions. You will find a comprehensive
description of each item for sale and multiple
pictures. Check the calendar to see what date
the WA-HQ Magazine will be available.
Browsing or searching for items
Searching has never been so easy. Search our
website, search our blog, search our magazine,
search online or search mobile. You can search
current items or past items. Further, we have
included many links from other auction websites
where you can complete historic searches. We
have it all just for you.
Simply use the search bar on the home page or
any page other page by entering the key words
and pressing go. You can refine your search via
the “advanced search” option.
How do I find about Watch Auction HQ Auctions?
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Standard Bid Increments
Up to $100 $10
$100-500 $25
$500-$1,000 $50
$1,000-$3,000 $100
$3,000-$5,000 $250
$5,000-$10,000 $500
$10,000-$30,000 $1,000
$30,000-$50,000 $2,500
$50,000-$100,000 $5,000
over $100,000 $10,000
Viewing Condition Reports
Our WA-HQ Magazine has a full and detailed
description of each lot. However, you may click on
Condition Report in the catalog to review online or
print for your convenience. You may also request
a report to be emailed to you at salessupport@
watchauctionhq.com.
Viewing an Item in Person
Our cyber marketplace does not allow us to permit
perusing items in person. But we do provide detailed
descriptions, condition reports and appraisals for
Register to Bid
Register online by visiting our registration page on
this site and filling out the interactive registration
form. When complete, click the submit button. You
will receive a confirmation email. When approved,
you will receive notification. If you are registering
at www.LiveAuctioneers.com, you will still need to
complete our internal registration form available at
Registration Form. Once you have been approved
for bidding, you may place your bid.
Live Online Bidding
Once you have completed the registration process
and are approved for bidding, you will able to log in
and following the prompts to the auction to place
your bids.
How do I Place a Bid?
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Online Results:
You can easily find auction results via www.
watchauctionhq.com. Just click on Auction Section
and Auction Results after the auction has concluded.
Telephone Bidding
If you are interested in telephone bidding, please
provide at least 48 hours notification so we may assist
you in making the necessary arrangements for you.
Contact us at: salessupport@watchauctionhq. com.
Absentee Bids Online
If you are unable to participate in our online auction,
you can place your bid online prior to the start of the
auction. Just sign in and peruse the online catalog
for selected items. Click the Bid button and place the
maximum amount you would like to bid. It’s that
simple. If you are successful, you will be notified by
email.
Absentee Bids by Telephone, Email, or Fax
You may choose to place your absentee bid by phone,
e-mail or fax. Just fill out an Absentee Bid Form and
we will handle the rest. You select the maximum
hammer price you are prepared to pay. You may fill out
the interactive form on the web or download it. You
may also request one by contacting salessupport@
watchauctionhq.com.
Charges and Commissions to Buyers
Buyers are assessed the Buyer’s Premium. Sales tax
is normally not assessed since the state of Oregon
does not have a sales tax. However, there are some
instances where different tax rates will be charged
on the hammer price. For questions regarding your
invoice, please email [email protected]
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Non-Payment Policy:
Please contact us for any problems that may occur
regarding payments. In the absence of appropriate
payment and/or explanation, the item will be
auctioned again. Further, you will no longer be able
to participate in our auctions and will be reported to
our partners.
Your Invoice:
The final price is the amount declared as the hammer
falls. Plus, the buyer’s premium. State of Oregon has
no income tax. However, there may be an occasion
where a sales tax may be applicable.
Your invoice will be directed to your registered email
address within 24 business hours after the close of the
auction. It will detail your purchases and all associated
fees. Should you have any questions regarding your
invoice please contact: accounting@watchauctionhq.
com.
Payment Deadline:
Winning lots must be paid for within 72 business
hours after the action has closed.
Methods of Payment:
Checks: We accept checks for payment of your
invoices. Checks will be electronically processed
and therefore, requires no delay in shipping your
purchases.
Cash: We do not accept cash.
Cashier’s Cheque/Bank Drafts/Money Order: All are
accepted and subject to verification.
Bank Wires: All wires must state the relevant
auction number, lot number and paddle number. If
transferring from a foreign currency, the amount
we receive must be the total due after currency
conversion and deduction of any bank charges.
Bank Wire direction will be included with your
invoice. Should you have any question please email:
Credit/Debit Cards: Visa and Mastercard
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Watch Auction HQ makes it
perfectly simple and easy.
Auction Terminology:
Absentee Bidder:
A person (or entity) who does not attend the sale but
submits in advance a written or oral bid that is the top
price he or she will pay for a given property.
Appraisal:
The act or process of estimating value.
As Is:
“As Is”: Also known as “as is, where is” and “in its
present condition.” Typically, this is a sign that no
return privileges will be granted.
Auction:
A method of selling property in a public forum through
open and competitive bidding. Also referred to as:
public auction, auction sale or sale.
Auctioneer:
The person whom the seller engages to direct,
conduct, or is responsible for a sale by auction. This
person may or may not actually call or cry the auction.
Auction Block:
The podium or raised platform where the auctioneer
stands while conducting the auction. “Placing (an
item) on the auction block” means to sell something
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at auction.
Bid:
A prospective buyer’s indication or offer of a price he
or she will pay to purchase property at auction.
Bids are usually in standardized increments
established by the auctioneer.
Bid Assistants:
Individuals who are positioned throughout the
attendees at the auction to assist the auctioneer,
spot bidders and assist prospective bidders with
information to help them in their buying decision.
Also known as ringmen, bid consultants, bid spotters
or groundsmen.
Bidder’s Choice/Grouping:
A method of sale whereby the successful high bidder
wins the right to choose a property or properties from
a grouping of similar or like-kind properties. After
the high bidder’s selection, the property is deleted
from the group, and the second round of bidding
commences, with the high bidder in round two
choosing a property, which is then deleted from the
group and so on, until all properties are sold.
Bid Caller:
The person who actually “calls,” “cries or
“auctions” the property at an auction, recognizing
bidders and acknowledging the highest bidder.
Commonly known as the auctioneer.
Bid Cancellation:
The cancellation of a bid by a seller. During online
auctions, sellers can cancel a bid if they feel
uncomfortable about completing a transaction with a
particular bidder.
Knowing the language makes it for you to succeed.
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Bid History:
A historical list of all the bids made on a particular
auction during or after the auction.
Bid Increments:
The standardized amount an item increases in price
after each new bid. The auction service sets the
increment, which rises according to the present high
bid value of an item.
Bidder (paddle) Number:
The number issued to each person who registers at
an auction.
Buyer’s Premium:
An additional service charge, for which the buyer is
responsible, may be added to the price of assets. If
so, this will be indicated in the Notice to Purchasers,
auction description, asset detail page or other clearly-
marked area.
Bid Retraction:
The cancellation of a bid by a seller. During online
auctions, sellers can cancel a bid if they feel
uncomfortable about completing a transaction with a
particular bidder.
CAI:
Certified Auctioneers Institute. The professional
designation awarded to practicing auctioneers
who meet the experiential, educational and ethical
standards set by the Auction Marketing Institute, Inc.
Catalog or Brochure:
A publication advertising and describing the
property(ies) available for sale at public auction, often
including photographs, property descriptions, and the
terms and conditions of the sale.
Caveat Emptor (Buyer Beware):
A Latin term meaning “let the buyer beware.” A legal
maxim stating that the buyer takes the risk regarding
quality or condition of the property purchased, unless
protected by warranty.
Clerk:
The person employed by the principal auctioneer or
auction firm to record what is sold and to whom and
for what price.
Competing Bid:
The auctioneer may be accepting bids for an item
from other sources these include (but not limited to):
• bids from an in-house audience
• telephone bids
• book bids
• absentee bids
• other bidding platforms
Commission:
The fee charged to the seller by the auctioneer for
providing services, usually a percentage of the gross
selling price of the property established by contract
(the listing agreement) prior to the auction.
Touching the world
with a keystroke.
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B Consignee:
The auctioneer or auction house operator to whom
goods are entrusted by another (consignor) for sale at
auction.
Consignor:
The person or authorized agent or entity who consigns
goods to an auctioneer. The consignor is usually the
seller.
Deadbeats:
High bidders who fail to pay for the item they won.
Escrow:
Money held in trust by a third party until the seller
makes delivery of merchandise to the buyer.
Estate Auction:
The sale of property left by a person at his or her
death. An estate auction can involve the sale of
personal and/or real property.
Grading:
The process for determining the physical condition
of an item. Different items have different grading
systems.
Hammer Price:
Price established by the last bidder and acknowledged
by the auctioneer before dropping the hammer or
gavel.
High Estimate:
The highest price a buyer will pay for an item,
submitted in confidence to an online auction service’s
automated bidding system to facilitate proxy bidding.
Lien:
An adverse claim or charge against an item when that
item is being used as collateral for a debt.
Lot:
An item or set of items for sale in an auction, lots are
normally denoted by a “lot” number.
Low Estimate:
The mandatory starting bid for a given auction, set by
the seller at the time of listing.
Market Value:
The highest price a property will bring in the open
market.
National Auctioneers Association:
A U.S. association of individual auctioneers united
to promote the mutual interests of its members;
formulate and maintain ethical standards for the
auction profession; promote the enactment of just
and reasonable laws, ordinances and regulations
affecting auction selling; make the public more aware
of the advantages of auction selling; and generally
improve the business conditions affecting the auction
profession.
Bid on one-of-a-kind items from around the world.
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Extraordinary collections
from around the world.
NR:
Short for “no reserve.” This indicates in the item
description line that the auction has no reserve price
specified.
On-site Auction:
An auction conducted on the premises of the property
being sold.
On-site Bidder:
A bidder who is physically participating at the auction
venue.
Outbid:
To submit a maximum bid that is higher than another
buyer’s maximum bid.
Preview:
Specified date and time property is available for
prospective buyer viewing and audits. Also known as
Open House or Inspection.
Proxy Bid/Absentee Bid:
A procedure that allows a bidder to participate in the
bidding process without being physically present.
Generally, a bidder submits an offer on an item prior to
the auction. Absentee bids are usually handled under
an established set of guidelines by the auctioneer or
his representative. The particular rules and procedures
of absentee bids are unique to each auction company.
To keep LiveAuctioneers a safe place for buyers,
LiveAuctioneers masks the absentee bid amount.
Other bidders cannot view your absentee bids in the
“Other Bids” section. All bids are kept confidential
from the auction house and other bidders.
Registered User:
A person who has registered as a member of an online
auction service. All online auction services require
registration prior to buying and selling.
Reserve:
The minimum price that a seller is willing to accept for
a property to be sold at auction. Also known as the
reserve price.
Reserve Price:
The minimum price a seller will accept for an item
to be sold at auction. This amount is never formally
disclosed.
Shill Bidding:
Fraudulent bidding by the seller (using an alternate
registration) or an associate of the seller in order to
inflate the price of an item. Also known as bid rigging
and collusion.
SMS Alerts:
Alerts sent via text message to your mobile device to
inform you when another bidder has placed a bid on
an item.
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Timed Auction:
Bidders may only leave absentee bids that will be
executed by the auctioneer after the listed ending
time of the auction. A “Timed” auction does not have
a live audience participating, therefore you will leave
your maximum bid that is only increased when you
are outbid. The current high bid will be made public
on the item listing, but your identity will remain
anonymous to both other bidders and the auction
house. If your absentee bid is the high bid, then you
will be contacted by the auctioneer as the successful
buyer.
Starting Price:
The likely starting bid for a given auction, set by the
seller at the time of listing.
TOS/Terms of Service:
TOS is a legally binding agreement that outlines an
auction site’s operating policies. All registered users
must agree to a site’s terms before using the service.
Grading Abbreviations:
AG/About Good A/O/All original BV Book value. C1-
C10 Complete/Almost Complete EX/Excellent EXMT
Excellent-Mint. Superior to Excellent, closer to Mint.
F/Fine G/Good GMMT/Gem Mint MIB/Mint-in-Box
MIMB/Mint-in-Mint-Box MOC/Mint-on-Card MOMC/
Mint on mint card MT/Mint NR/No reserve NRFB/
Never Removed from Box OOAK/One of a kind. OOB/
Out of box. OOP/Out of print Pristine VG/Very Good
o/c (oil on canvas)
Auction Types:
Dutch Auction:
This is an auction in which the seller lists multiple
quantities of an identical item. With multiple items up
for sale, multiple bidders can win. Also, one bidder can
try to buy more than one quantity. All winning bidders
pay only the lowest successful winning bid amount.
Yankee auction:
Each winning bidder pays his or her exact high bid.
Reserve Auction:
This is an auction in which the item for sale has a
reserve price. The reserve price is the lowest price at
which a seller is willing to sell an item. Although the
reserve price is not listed per se (the auction posting
will be marked as “reserve met”), it can be extrapolated
when a bidder bids at or above the reserve price. The
high bid will automatically be elevated to the reserve
price, providing the current high bidder with what the
seller would agree to sell at.
Straight Auction:
Also referred to as an absolute auction, this is an
auction in which there is only one item up for sale and
there is no reserve price. The seller sets the opening
bid and must respect the final price at the end of the
auction.
Absolute Auction:
An Auction where the property is sold to the
highest qualified bidder with no limiting conditions,
contingencies or amounts.
Online/Virtual Auction:
An auction that is for online bidders only and is not
conducted in front of a traditional live audience. These
auction types may have reserve items in which the
auctioneers may bid in order to protect the reserve.
Watch Auction HQFine Jewelry and Watch Auctioneers
www.watchauctionhq.com
We trust that your experiences with Watch Auction HQ will be rewarding. If we can assist you in anyway, please contact us at: