21 Comments
Apr 30Liked by The Grand Seiko Guy

Not looking good atm for the best offering of the year. If flush (oct I’m told) I’d shake’em out and sell it for half what I paid when I get that been there, done that feeling

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Happy now Scott? ;)

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May 1·edited May 1Author

Ok so now that auction has closed, I just wanted to address a few of the comments made regarding the 'challenges' of getting money to the proxy companies to bid on a watch.

Firstly, this newsletter went out with plenty of time to wire money to a proxy company (should that be your preferred way of doing this) and subsequently bid on the watch. I know from personal experience this week, that I was able to wire money from my Wise account to a dealer's account in Japan whilst sat with him discussing the watches in question. One of these transfers was for in excess of 1M Yen, and it wasn't necessary to do it using a Swift transfer. The money turned up in his account approximately 3 minutes after my instructing it.

If your bank is slower than this, and you want to be "agile" when it comes to moving money around to bid on watches on Yahoo Japan Auction, then perhaps consider setting up an account with a bank that is more efficient. But yes, I fully appreciate that there may well be some banks that simply cannot deposit cleared funds into a Japanese account (and indeed, some proxy companies that cannot process those funds) within 48 hours. So if you leave it late, and are using inefficient sources and destinations, I fully understand that there will be challenges. So change banks (and proxy companies if necessary) if this is important to you.

BUT.

Wiring money is not the only way to do this (and indeed, is not the most common way to fund big ticket auctions). By far the easiest way to get money into a proxy company in order to fund your bids on an auction is to simply charge your debit or credit cards. FromJapan (whose links I have always provided for viewing of featured auctions) will process a debit or credit card charge into your account with them in a matter of seconds. Yes, there is a limit of 1M yen. But guess what - you just have to make multiple deposits. If you (or your back, or your proxy company) are worried about KYC, then get it all organised as soon as you open the account so that every party knows who they are dealing with.

(Just to clarify - despite the fact that FromJapan have an affiliate program that would be simple to take advantage of, I have never participated in it. If you are happy with your proxy service of choice, then by all means continue to use them - I don't benefit in any way by sharing how FJ works in situations such as this.)

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¥13.5m. Anyone here?

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Museum would have paid more. Wonder if he tried

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Would like to buy it but the logics of getting money wired into Zen in time will not happen. The bank is closed Sat and Sun and online it is beyond the limit permitted by my bank. Also if I loss the costs of the money conversion,wire, fees, both ways could be several thousand. Even so, I would risk to get this piece.

Boo-hoo.

But I think this will make about $75-85,000

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Hmm. Ok so if you think this would sell for something around that, and you’re happy to pay it, I don’t understand why you don’t simply deposit the money with one of the proxy companies? There’s plenty of time still.

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Though 82k is starting to look respectful, theJapanese cabal does not want this piece wandering about the anglo world.

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It takes 2 days for the wire to arrive and could not send it over the weekend, the auction will be over before the money arrives

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Is bank wire the only option?

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It’s proved a nightmare.

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Honestly I’m struggling to understand the problem here. I was sat with a Japanese dealer just a couple of days ago and instructed a wire to his account from my account that is based in the US. The money arrived in 3 minutes. I can transfer money to FJ by charging a debit card and the money arrives instantly.

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deletedApr 29
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Again - then use another option! My wire(s) to the Japanese dealer was from Wise. 3 minutes. Money cleared. I walk out with the watches in hand.

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deletedApr 29
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Personally I think the VFA should be sold in a private auction. Some damn fool is going to lose his house over this thing. I think it will close at 110k

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Personally I think it should just be sold to me 😂

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Definitly looking forward to seeing what that VFA closes at 🥰

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Thank you for the news letter. Our family was going to arrive in Osaka tomorrow but postponed trip as my daughter starts a new work role Monday. Best of luck with your search 👀

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Hot damn.

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Don’t do it Julian 😆

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😂 🤔 Do what? 😜

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