Collectors and investors have the chance to bid on high-end luxury watches by the likes of Patek Philippe and Rolex, on the move and from their mobile phones.
In the so-called Silent Sale, buyers can view and examine the fine timepieces on offer, then register and place a bid.
If your bid is beaten by another participant, you'll receive an SMS text message alert. You can then, if you wish, increase your bid.
Once the Silent Sale is over - they usually last several days - all collectors and investors are notified by text message. Once the timepieces have been paid for, successful buyers can collect their purchased lots.
As an added bonus, participants don't have to pay buyer's commission.
The auction, being held by Patrizzi & Co of Milan until July 16, is just one of many ways that communications technology is revolutionising the global collectibles markets.
Such technology is now fully-ensconsed in auction procedures worldwide. As Julian Schaerer, Watch Director at major New York auction house Antiquorum, told us in his exclusive interview: "The internet has completely changed the business."
Watch this space for more news on Patrizzi & Co's Silent Sale.
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