Won a Zenith 18k pocket watch from Coach House Auction in Canada - BUT THEN...

Discussion in 'Horological Misc' started by Luca, Mar 5, 2017.

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  1. Luca

    Luca Registered User

    Jan 19, 2004
    858
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    I won a Zenith 18k pocket watch from Coach House Auction in Canada for 425 CAD. On hibid.com. I was excited. Then the owner of the auction house called me and said he couldn't sell it to me for that but I could have it for 1400 CAD. I said no.

    What do you members feel about that kind of behavior. Retraction of a sale?!? The listing is now blocked by the auction house. Guess they don't want evidence to show. It was here: https://hibid.com/lot/29834650/zenith-18k-gold-pocket-watch/?ref=past-bids

    Here is a screen shot of the listing in list mode:

    [​IMG]

    Anyone considering bidding with this auction house may want to think twice.
     

    Attached Files:

  2. JTD

    JTD Registered User
    NAWCC Member

    Sep 27, 2005
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    I don't live in Canada and I know nothing of the way this auction house works, but it does seem to me that if you were the highest bidder, there was no reserve and the fact that your bid clearly shows 'won', that you ought to have the watch.

    I should look very carefully at the 'small print' of the auction site and see what is and is not allowed. If there is nothing to say that a lot can be withdrawn at will, particularly after it has been 'won', I think you would be entitled to take action, either legally or through Better Business Bureau.

    If there was a reserve price, below which the seller did not want to the watch to go, then of course that should have been made clear. I cannot help wondering if there was a reserve and the auction site forgot to say so, or if the seller just assumed it would go much higher and is now disgruntled that it didn't. Either way, I think you deserve an explanation.

    But, I repeat, I do not live in Canada and things may be different, so only my thoughts.

    JTD
     
  3. MrRoundel

    MrRoundel Registered User
    Donor

    Dec 28, 2010
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    The fact that their site shows that the watch was "Won" for $425, indicates that the auction house should be bound by the auction price. If there wasn't a reserve, it would show "Reserve not met", just like Ebay or anywhere else. That sounds like a very bad faith dealing on the auction house's part, and I would stay away from their auctions. Sometimes they win, sometimes they lose. When they lose, they've got to make good on it. They are professionals. They had plenty of time to get their ducks in a row before the auction, including having a reserve if they wanted it. But they wanted the chance for it to go higher from real auction bidding, miscalculated, and gave you the proverbial finger once that became evident. You were willing to hold up your end of the bargain, but apparently they were not. Bad faith, bad dealings. You are right to expect more from professional, probably licensed, auction houses.

    If I were you, I'd complain to whoever the licensing authority is in their area of Canada. You never know, there may have been a lot of complaints over the years, and the authorities just need one more to punish them. Yours might be that one more. Do it for the next guy so he doesn't have to be the next guy who is disappointed. Good luck.
     
  4. Luca

    Luca Registered User

    Jan 19, 2004
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    Thanks guys. I went to the BBB site for Canada but this auction house did not come up when I plugged in the details. Good call on the licensing authority - I will check on that. Mainly I want to get the word out on them..."buyer beware".
     
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