Collecting: Watches
The ins and outs of collecting timepieces.
Christopher Wagner
Why Start a Watch Collection? Most people assume that all watches will increase in value over time, but the truth is that most won’t. Shiny new timepieces attract more attention, but classic styles are ones you will use for a lifetime. Whichever way you look at it, collecting timepieces is like collecting art; there is a level of subjectivity to it. Regardless, when respected and treated carefully, watches will supply you with years of enjoyment.
New or Used? If you are looking to start a valuable collection, there are a few places to inquire: online, in-store or at an auction house. With the breakthrough of online auctions, you can use the Internet to compare the prices of new and old models. If the price in a reputable store is much higher than what you find online, then you should be wary. Watches can easily be gutted and the internal mechanisms replaced by inferior quality ones. At auctions from reputable companies like Christie's, Sotheby's and Phillips de Pury, you can be certain that you will receive the appropriate papers of authentication.
Watches are not equal in their second life. Watchmakers often attend auctions and actively bid on their timepieces in order to maintain the market value of their brand. Therefore, a little research and monitoring of past auction prices will benefit the newcomer to the watch-buying process.
While budget may be a factor, the availability of a model may influence your decision to buy a used watch. You'll find, however, that the more rare timepieces are more expensive when purchased used. Always request the complete box and papers, complete with factory warranty and a certificate of authenticity, and be sure to keep the links, buckles, and straps that are original to the watch. Cosmetic flaws such as scratches and cracked bezels can usually be repaired. Any sign of water or condensation will probably necessitate a full makeover of the inside.
What’s in a Name? It’s actually the company history that counts more than the name, although you will notice that the two begin to converge. The best watch brands are made by companies that have a history.
Ebauche is a Swiss company that makes a large quantity of wristwatches in different grades and price ranges for virtually all watch companies. Omega, Longines, Taso, Mido, Cartier and others have Ebauche mechanisms custom-manufactured for each brand’s specifications. The more complicated or hand-finished a timepiece, the more limited the production.
Collectible brands include Patek Philippe, Audemars Piguet, Vacheron Constantin, Blancpain and Breguet. New young brands include Svend Anderson, Grubel & Forsey, Jean Dunand, Richard Mille, Peter Speake and Marin. Quartz watches were well made between 1978 and 1985, but they should not be expensive. At a high price, you should buy a mechanical watch that is investment grade; the grade of the mechanism should match the grade of the case. For chronograph, it is better to use a digital quartz mechanism, which is more accurate than analog hands.
What’s in a Design? A design is much more than just a pretty face, although you should look for gold or stainless steel cases and avoid those made of plastic or resin. The same holds true for bracelets. In battery watches, steer clear of brass that is plated in gold or chrome. While white alloy hairsprings improve their timekeeping, watches that have more than seventeen shock-absorbing jewels — such as the Incabloc system — have better reliability. The hairspring and the balance wheel are different in the lower and higher grades. Free-sprung hairsprings mean the watch does not have an adjustable regulator.
Higher-level timepieces made by Rolex, Patek Phillipe, Vacheron Constantin and Piaget boast numerous mechanisms that can include screws, rubies, mechanical components, springs, hands, wheels, perpetual and secular calendar, phases of the moon, a chronograph and chimes.
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