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Another Old GMT in a Box


freddy333

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Some of you old-timers may recall the disassembled '42 I purchased from Ofrei several years ago that ended up being (mistakenly) sold out from under me by Bob Frei. The watch went to a flipper, who then parted it out on ebay.

 

Well, it happened again.........unfortunately, not to me. This 1 was found by a collector at an estate sale &, amazingly, it was virtually the same type of find, even down to the plastic box all the parts were stored in.

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"I've worked out a deal with a fella and I'm going to deliver it to him Monday morning"

 

Bang...bang...bang. I'm so numb I can't even feel my cranium colliding with the wall :(

 

Oh well, I'm sure he will have enough cash for a couple of KFC bargain buckets and a long weekend at a posh spa.

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I can't even imagine finding my grail like that. I can't believe he sold it. They were estimating only $3,500 to fully restore it and get it up and running again. I wonder how much he paid for it originally?

He paid $3. There is not a typo. $3.... Less than a latte at Starbucks.

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Are you sh $ tting me? I'm speechless. Why can't I find something like that? Holy smokes...

Yes sir! I bought a watch on craigslist for $80 and flipped it for $280. I thought I ha hit the jackpot. This is unbelievable.

He has already sold it too; probably somewhere in the range if $25-$35k...

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^That is a beauty!

To be honest I probably would have sold it too. I would have bought 3 nice genuine vintage pieces to pass down to each of my boys, and then banked the rest. I'm not a guy who needs a $50k watch on my wrist. I would be so paranoid that it wouldn't even be enjoyable.

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Edited by jelliottz
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^That is a beauty!

To be honest I probably would have sold it too. I would have bought 3 nice genuine vintage pieces to pass down to each of my boys, and then banked the rest. I'm not a guy who needs a $50k watch on my wrist. I would be so paranoid that it wouldn't even be enjoyable.

Sent via my mobile

 

I with you on this. Would have hated to sell it but the thought of theft or damage would drive me crazy.

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Look at it this way, though. To restore it would have cost $3,500 according to the vintage restoration guy in the thread. Fully restored and 20 years from now, that watch is worth far more than what he sold it for today. 30 years from now that watch is worth far more than that. Easy gain now, but he could have doubled or tripled that if he had the patience to hold onto it.

Just saying. There's opportunity cost associated with every decision like that. But like others have said, he was only into it for $3 so you can't fault him for that.

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