....to mention is the effect of FX rates. Whilst Euro/$ has had its share of movement, the brunt of the forex moves have clearly centred around the pound.

This was in effect a local £ sale...so when we reflect the results in todays $ terms, I think we are mixing 'watch' pricing with fx pricing.

The sale price of the watch was £43,500. Yes, today thats around $58k....but 10 days ago that was $65k+

Sterling buyers would I expect not have been taking the $ rate into account when bidding. So, whilst £43.5k is on the low side for what was expected, it doesn't seem that bad given the circumstances.

For me, the opportunity was ripe for our friends across the pond....thats where I had expected it to go given the fx advantage.....and another reason I stayed away.....listing it earlier in the day was perhaps not the smartest move from the UK auction house. You wouldn't arrange an auction at 8am local time...so why have one of the important niche watches, the one on your cover, be presented to US buyers at this time ?!? A little naive perhaps....