Buying a vintage watch is one of the (compared to a daily wearer) most enjoyable and rewarding watch journeys that can be undertaken. It is, however, an adventure that can be full of pit falls and booby traps that are not always seen by either the intrepid buyer or knowingly laid out by the vendor. For all the scaremongering that is written and spoken about in the collector community when buying vintage, there are a few handy hints that can help the neophyte and seasoned buyer alike.
1. Decide What You Want
This may sound almost too obvious, but make sure you know what you’re looking for as there’s a LOT of choice in the vintage market. Once you have decided on your model become familiar with the watch’s lineage – when it was first introduced, the different variations, and even detailed information like what accessories the watch initially came with. Auction houses and dealer websites are a great source of information. Are you looking for the watch by itself or a complete set, including box and papers, or just the individual watch?
2. Check the Accessories
Rolex Daytona ‘Zenith’ (1999), image credit: Watch Collecting
Enthusiasts can be very particular about the details at a micro level, an example being collectors of Zenith-era Rolex Daytonas from the late 1980s and ‘90s. With these watches a full set must include booklets with the correct date stamps, numbered hang-tags, the correct box style and correct calendar card. Be aware that there is a brisk trade in Rolex accessories and many watches come with a ‘put together’ set, which is not a problem as long as they are correct and if not, are advertised as such.
Papers will obviously have an effect on the price of the watch over purchasing the watch alone, so if you just want to buy the watch to wear it rather than re-sell or for investment purposes, it’s worth considering.
3. Research the Seller
The Vintage Watch Company, Burlington Arcade, London
This isn’t a new or ground-breaking observation, but it’s a point that is well worth making, irrespective of your level of expertise. Nowadays, anyone possessing an iPhone and an Instagram account can play the role of a dealer. The market is full of dealers with outstanding reputations, knowledge, and infrastructure. And a long-standing seller will stand behind the timepieces they offer. Why? Because a dealer’s reputation is, in many ways, all they have, as they’ve invested many years, and sometimes even decades, in constructing these reputations, alongside a wealth of wisdom and hands-on experience.
When you buy a vintage watch from such a dealer, you are essentially investing in their expertise with your money. Whatever your chosen brand or area of vintage watches, ask around to find the most respected dealer in that genre. The watch community is awash with fantastic enthusiasts who are always willing to offer support, opinions and advice in all forms. Get to know people and enjoy being a part of different watch forums, WhatsApp groups and attending collector get togethers.
4. Check for Flaws
Whether you’re buying a watch, car, guitar, or any investment grade collectible, it’s important to buy the very best example that you can. Do not compromise when it comes to quality, as almost certainly any minuscule flaw in the watch will incessantly bother you every time you glance at your wrist. Sure, probably nobody else will see it without prompting, but you will see nothing else but said flaw! Not everybody can afford to buy the rarest watches in new-old-stock condition, so set a budget and then expect to blow it by at least 20%!
5. Has It Been Polished?
An unpolished Audemars Piguet Ref. 14802BA (1994), image credit: Phillips
OK, so let’s talk about it…polishing! Within the vintage watch community, a topic that stirs much debate is the matter of case polishing. Typically, collectors prefer minimal polishing of a watch’s case. Over the years, the term ‘unpolished’ has been widely used to convince buyers that they were acquiring a completely untouched watch. In reality, it’s reasonable to assume that most watches have undergone at least one polishing procedure at some point in their history.
These timepieces belong to a time long before the modern collecting craze, to an era when case polishing was a routine aspect of maintenance that didn’t draw much attention. As I’ve just mentioned, instances of new-old-stock and genuinely untouched watches do sporadically emerge on the market, and when they do, they command extraordinary prices. Nevertheless, it’s prudent to approach the term ‘unpolished’ with caution.
6. Have Components Been Replaced?
During a watch manufacturer’s maintenance procedure, certain components of the watch may need replacing as part of a routine service. Components like winding crowns and tubes, crystals and some movement components are typically classified as wear-and-tear items, and in reality, most collectors don’t object to their periodic replacement. In fact, it’s advantageous to replace these elements over time because they protect the watch from moisture intrusion and potential damage. However, when more substantial parts are substituted with later service replacements, it can have a significant impact on a watch’s value.
7. Is the Dial Original?
Blancpain with “No Rad” dial (1965) and Rolex Submariner with tropical dial (1962), image credit: Phillips
The most critical element in this context is the dial and in some cases as much as 90% of a watch’s market value can be attributed to the dial. Wherever possible, avoid service dials, as finding an original one can be exceptionally challenging and costly. Additionally, later service bezel inserts on dive watches and pushers on chronographs can have a big impact on the value and desirability of a watch.
8. Buy Something You Love!
Cartier Grand Tank Cintrée (1941), image credit: Phillips
The media is awash with talk of watch prices, investment funds devoted to horology, and websites that track the value of your collection. Sure, very few people relish the idea of financial losses, but arguably the investment angle of watch collecting has taken precedence over the emotional connection. If you truly love watches then I would advise you to not get hung up on the ‘investment’ element of your purchase. That doesn’t mean that you should just blindly go ahead and buy the watch without any financial due diligence.
There are plenty of great resources to check the current market values, including auction houses and dealer websites, as mentioned earlier, as well as specialist market watch sites that track the real time sale of watches and create graphs of the trends and movement of watch values. There will always be trends and ‘have to have’ timepieces, but surely, it’s better to bag a watch that really resonates with your own aesthetic. This approach ensures that regardless of whether the watch’s monetary worth declines or ascends to new heights, each time you check your wrist, you’ll grin like a Cheshire cat.
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