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P1 Listing on ebay

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coconutman351

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P1 Listing on ebay

Post14 Oct 2018, 06:58

Just found a P1 listing on ebay. Seller is asking $30,000.00 buy it now. Does not appear to function. From the photo's it appears to have the later module vs. the multi chip version. I've attached the listing link.

https://www.ebay.com/itm/Extremely-Rare ... %7Ciid%3A1
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Re: P1 Listing on ebay

Post15 Oct 2018, 20:12

The P1 serial number is barely legible, looks like it's 754249 from what I can see. Perhaps Bruce could shed some light into this P1 and if it's really worth $30K if now what would a fair offer be?
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bruce wegmann

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Re: P1 Listing on ebay

Post15 Oct 2018, 22:34

Yes, I saw this listing when it was about half an hour old. I have sent a message inquiring as to the known history of the watch (if any); so far, no reply. I am assuming this is a recent "safe-deposit box find".
I read the serial number as 249, also, and this does not show up on my list of "known" P1s, so I am reasonably sure this is a "new" one...the first in over two years; I guess it makes my estimate of about 50 a little more accurate. We really need a fully updated list of known numbers, as soon as possible.
Even the seller admits the price (US$30000), is a complete shot in the dark, and I agree with him (doubtless, he is taking the preposterous $40000 price on the "wear sample" as a guide to value). In it's current cosmetic condition, not working, no magnet, (as a plus, it has a decent-length bracelet...19 or 20 links) I'd be hard-pressed to go much over $7K on this one (even if I was inclined to go after it, which I'm NOT...10 is enough!...for the moment, at least). It's going to need restoration, repair, and a magnet...that's an additional couple grand, to bring it "up to snuff". Right now, I doubt a double-boxed, complete, minty example would go for more than $15K or so, so some of the prices out there are just wildly, unreasonably optimistic.
If I get additional info from the seller, I will expand this posting to include it; if anyone else is successful in getting the seller's co-operation, let us know what he says.
And, while this may be a "holy grail" of LED watches, I would disagree with the "extremely rare" part of the description; there are many Pulsar models that are 2 to 20 times rarer...the 7725, the 3140, the 7409, and the 1201 and 1211 (and I'm sure there are a few others). So, given that, I would call the Limited Edition "rare", but not extraordinarily so.
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Re: P1 Listing on ebay

Post16 Oct 2018, 07:08

Thank you Bruce for your insights into this listing. This listing will probably expire with no buyer.
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bruce wegmann

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Re: P1 Listing on ebay

Post16 Oct 2018, 07:27

Of that, I have absolutely no doubt. We're about four times above realistic value here (along with the $19K Classic Calculator, and the $27.5K Tiffany one). Oh, how I wish the stuff in my collection was really worth these prices...
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Re: P1 Listing on ebay

Post16 Oct 2018, 08:41

Haha, Bruce if you could sell your entire collection based on these highly unrealistic prices consider early retirement, it would be an unbelievable return on your investment. But with that said, some timepieces you can't really put a price on. My first P3 gold filled is still my favorite Pulsar! It's amazing how only people with a sharp eye notice these vintage LED timepiece. I still have your 3502-A and B models in pristine condition.
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Re: P1 Listing on ebay

Post20 Oct 2018, 12:21

Great to see a new survivor (if that what it turns out to be) Coconutman , like You, my favourite watch is the first "proper" one i bought, a gold filled Omega TC1. I can still remember my excitement when it arrived, the start to a very expensive addiction lol
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Re: P1 Listing on ebay

Post20 Oct 2018, 23:49

OMG tell me about it, here's the result of that initial P3 purchase! Can't have just one Pulsar!!
You do not have the required permissions to view the files attached to this post.
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bruce wegmann

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Re: P1 Listing on ebay

Post24 Oct 2018, 08:50

Update...re-listed, price "reduced" to US$20,000. Next stop, maybe $10,000, and the actual possibility of a sale.
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Re: P1 Listing on ebay

Post24 Oct 2018, 09:18

Possibly another P1 for Mr. Wegmann?
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Re: P1 Listing on ebay

Post28 Oct 2018, 20:20

Hello!
Please tell me your opinion about this item
https://www.ebay.com/itm/VINTAGE-L-E-D- ... 100623.m-1
Is it really proto watch?
The proof of the pudding is in the eating...
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bruce wegmann

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Re: P1 Listing on ebay

Post28 Oct 2018, 21:59

Emphatically, NO!. The parts you see here are perfectly standard, production-run P1 parts (and despite what the listing title is...this is not a "watch"...these are PARTS). The module is a late run Electro-Data (number 663, which certainly lends credence to the idea that the original production goal was significantly MORE than 400 watches...nobody does a greater than 50% overrun of spare parts; I think the original idea was 500, or perhaps even 1000...reasonable numbers for a "Limited Edition", but Hamilton ran into production, quality control, and finally time constraint problems, and settled on completing 400 or so...if someone has a better theory, I'd love to hear it). And, that does not even address the issue of the 14K P1s, which we now know WERE made, despite pronouncements to the contrary (but, that is topic for another thread).
The case top is, again, a typical P1 part, absolutely nothing out of the ordinary in any detail (it would be a lovely thing for the guy who bought the diamond-studded one to get this, and restore that P1 to original condition, but, not at this price). The crystal is also the usual; you can actually see the multi-layer dielectric coating that acts as a narrow-band optical filter (an enhancement that was later deemed redundant and unnecessary, as well as too expensive, since the ruby had good transmission characteristics to begin with, as did the glass used on almost all other models). I do recall seeing some loose Ladies Oval crystals with that same coating, a number of years back (I may have saved the auction pics; if I can find them, I'll post them), but never actually installed in a case.
As to value, this lot is worth maybe $3-4K, depending on how bad you might need or want a P1 top, crystal, or dead E-D module.
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Re: P1 Listing on ebay

Post29 Oct 2018, 08:55

Totally agree with Bruce on this listing. Person should not be listing it as if it's a fully functional digital timepiece. The challenge is there appear to be so few of these P1 models listed on ebay that it is difficult to get an accurate appraisal. So I suppose the seller didn't want to under sell and listed it wildly high hoping he can get a reasonable offer. Reasonable is also so subjective, it really comes down to who is willing to spend this amount of money on a non-working vintage LED watch. I always remember getting my P3 Gold Filled Pulsar on ebay, as a newbe I probably paid too much for it. I think I paid $499.00 but it came in the original box and magnet envelope so perhaps altogether it may be worth more than just the watch.
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Re: P1 Listing on ebay

Post02 Nov 2018, 03:56

Update: Seller responded to a question on the ebay listing.

Question

"Do you know any details about the history of this watch (owner, how found, etc.)? Also, is the serial number 243, or 249 (pics aren't quite clear enough to make that out). Any info greatly appreciated. Thanks,"

Answer

I sent numerous requests to join the LED forum, as my intentions were to keep this watch. I wasn't able to connect with anyone so I decided to put it up for sale. I wanted to know if there was repair available. I thought it would be cool to put in the rotation of other watches I have. Something you don't see every day. The serial number is P754249. I purchased on an estate auction several weeks ago for $10,469.42 with shipping. I honestly had know idea what it was worth. I took a shot in the dark on the value. It was listed as not running however, I have purchased watches at auction before that only needed batteries. This came without batteries and once I installed I wasn't sure what it should light up like. I did not think the examples listed for sale currently were an accurate valuation. I did not want to leave money on the table if I sold it, so hence the listing price. I hope this helps you.
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bruce wegmann

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Re: P1 Listing on ebay

Post02 Nov 2018, 05:24

He overpaid about $4000 on this one. Barring the remote possibility of a desperate buyer with unlimited resources, it is highly unlikely he will be able to break even here. As I suspected, this one is another safe-deposit-box "find". Now re-listed at US$18K, but that is still nowhere near a realistic price. A real-world assessment; this will need restoration, repair (with a proper original module, NOT a modern replacement), and an original setting magnet...about $2K worth of work and parts to bring it up to full collectible value...which would still only be around $8K. I have purchased several WORKING P1s for $6K or less. It's wonderful to see a "new" one, of course; just some unfortunate circumstances in the mix.
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Re: P1 Listing on ebay

Post05 Nov 2018, 00:35

This must be the original auction he refers too. The crystal is in real bad shape looking at the pictures.


https://www.ebth.com/items/9371635-circa-1970s-18k-yellow-gold-pulsar-time-computer-p1-digital-wristwatch
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Re: P1 Listing on ebay

Post05 Nov 2018, 01:02

The price and serial number match, so, this is certainly the original auction. Aside from the fingerprint, there do appear to be two short scratches (makes you wonder what this watch bumped up against; ruby is second only to diamond in hardness). Still, those could be polished out; there is no logo to worry about preserving. The two white spots on the left side could be particulate matter, or chips...hard to tell (still, repairable). The elongated, irregular, dark marking in the center is another potential problem. To me, looks like the filter coating has been abraded (probably by the LED display, due to a loose-fitting module; I have seen this before). Theoretically, that COULD be recoated (this is pretty routine, now, for certain types of laser-related optics), but the easier way would be to simply polish it the rest of the way off; Time Computer found that it is not really necessary to get good contrast on the LEDs. Despite its cosmetic shortcomings, this is still a highly collectible, restorable watch; just a shame too much money changed hands for it (at least, that makes it very safe from the melting pot...no profit to be made there).
BTW, never heard of this particular auction outfit...what other Pulsar wonders might we have missed?
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Re: P1 Listing on ebay

Post09 Nov 2018, 23:34

Now re-listed at $13.9K...still, FAR too high. I'm amazed that, in the answer to a question, the seller has revealed exactly...to the penny...what he paid for it ($10,469.42). This is such a shame; unless he finds a buyer willing to take the hit, and invest what it will take to get this back to complete, working condition, the seller is going to get hurt rather badly on this (especially, after eBay gets their piece of the action). $11.5K is just breaking even...not a good return on an investment of that magnitude.
The only positive thing I can see here is that, given the amount of money that changed hands for it, it's been effectively "proofed" against going into the melting pot; nobody's going to flush six grand plus to scrap this watch.
BTW...on a technical point...just noticed, this watch has the smaller 201-2 circuit board (as in later P2s). That means it must have been one of the later "returns" to come in after the recall (though, it's just barely possible it left the factory that way; but the lower, early serial number suggests otherwise).
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Re: P1 Listing on ebay

Post11 Nov 2018, 14:50

In the UK we regularly get £1 max fee offers on eBay, do you not get something similar over there?
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bruce wegmann

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Re: P1 Listing on ebay

Post11 Nov 2018, 23:06

richard_uk wrote:In the UK we regularly get £1 max fee offers on eBay, do you not get something similar over there?


Hasn't been my experience, and I've been selling on eBay for over ten years, now. Reduced or zero listing fees, yes, but never reduced end-of-auction-value fees.
In any case, my point is, the owner paid WAY too much for this watch...and barring a miracle of near-Biblical magnitude, is going to take a beating when he sells. Frankly, his best option (if he can afford it, which I'm guessing he can), is to put this away for a few years, until the market has a better chance of justifying the price he needs to get.
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Re: P1 Listing on ebay

Post12 Nov 2018, 04:47

Are you a private seller or a business seller? I have accounts for both and as a business seller they don’t give you anything, the £1 max fees (sometimes £3 max fees) is for private sellers only. I think it’s down to all the competition they now have from other selling platforms, in the UK they seem to be offering these deals almost weekly now and have done for quite some time, it’s saved me literally £100’s if not £1000’s in fees.

Oh and I agree with your other comments.
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Re: P1 Listing on ebay

Post12 Nov 2018, 07:14

Private seller only. I considered a business account (with an eBay "store"), but couldn't justify it, given the small number of items I have listed at any particular time. In the next week or so, I'll probably have more than at any previous time, but still not enough to merit the change.
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