When it comes to obtaining top dollar for your vintage watch a few factors have to come together first. Those are condition, brand, provenance, notoriety, marketability, rarity, complexity, craftsmanship, and metal. These details are the kingmakers and responsible for determining if a watch is worth $10,000 or $10 million understand vintage watch value.
Thank you for reading this post, don't forget to subscribe!1- Condition is Money
These two Rolex Submariner’s are identical and sold at the same auction on the same day. The difference in price $27,500 Swiss francs vs $500,000. The $472,500 difference lies solely in the condition of one Rolex versus the other understand vintage watch value.
The bulk of a vintage watch’s value is found in the condition of the dial. It is often said that 80% of a watch’s value is its dial. Notice the difference in quality:
The dial on the example that sold for $500,000 is pristine retaining its fantastic gilt gloss effect, almost mirror like:
The dial on the example that sold for $27,500 appears to be dirty, grainy, and devoid of its mirror like effect:
Examples below illustrate a dial in exceptional condition versus one that shows scratches resulting from the dragging of the hands – pristine condition of the left vs less than perfect on the right.
In the game of condition the dial plays a pivotal role in setting forth the value of a watch. If the dial is not in optimal condition but the case is in fantastic shape then value of the watch could be substantial, not as much as one with flawless dial but there might be some value regardless. If the dial and the case are in bad shape then the value of the watch will be tremendously diminished, does not matter how rare the watch might be.
Below are two examples of one of the rarest Patek Philippe models ever made, the reference 2497. It is estimated less than 100 were ever made. The first example sold for $233,000 in 2015 while the second example failed to sell at auction in 2017.
2- Brand Matters – The Split Seconds
Brand matters a lot and no two are more significative than Rolex and Patek Philippe, when it comes down to beating down records and bringing in millions of dollars. A perfect example of how the name on the dial of a watch determines if its worth $200,000 or $2 million understand vintage watch value.
There are two watches that best represent the difference the name on the dial makes and those are the Rolex Split Seconds Chronograph 4113 and the Universal Geneve Split Seconds Chronograph “A. Cairelli”. Both these watches are from a technical point of view identical.
They are both split second chronographs, they are both 44mm in size, and they both use the same mechanism. What is the difference you might ask? Well how about $2,208,000. That is one massive price difference but do not forget one very important thing. Rolex is King.
3- Provenance – Where Did You Come From?
When it comes to vintage watches collectors are always on the hunt for the special one, for the watch no one else has but them. A vintage watch with provenance might be a watch that displays the name of the jewelry that originally sold it also known as double signed or a vintage watch that still retains its original set of box and papers. Collectors love provenance because it allows them to be able to track their watch down to the original owners, for them being able to do so is kind of like a badge of honor.
Below are three similar Rolex Daytona 6263 with the sought after “Paul Newman” dial. All these watches are identical to the untrained eye but to those who know and understand them the differences between each are in the hundreds of thousands of dollars understand vintage watch value.
The example on the right is a Rolex Daytona in fantastic condition but this one here still retails its original box and papers from when it was new. Back in the 60’s and 70’s these watches were not expensive or luxurious. They were tools, that is it. For this the people that bought them often did not care for keeping the boxes, tags, or papers. Nowadays collectors look for those details like crazy. The watch on the right sold for $628,000 at auction.
The example on the left is another Rolex Daytona. Very similar to the one above, however this one did not have its original set of papers. What this had that the other did not was a record from the jeweler that sold it. However, this was not just any jeweler. The company that sold it was once a notable jewelry in Argentina called Ricciardi. This very watch sold at auction for $756,500.
Much like those above it this here is also a Rolex Daytona. Highly sought after with no signs of stopping but what sets this one apart is the fact that aside from it being a 6263 Paul Newman nothing else is special. This watch sold at auction without its documentation from Rolex or the selling jewelry. This watch sold as is for $425,000, or hundreds of thousands less than its peers above.
This is what we mean when we say a watch with provenance will be more sought after and will likely fetch more money at auctions or via private treaty.
4- Who Owned You? – A Notable Past
Similar to a vintage watch with its original paperwork, but also different. A vintage watch that can be traced to a notable historical character is often times a gold mine for the seller and the buyer. A watch is often times seen as part of someone, an object that goes beyond the materialistic and crosses into the intimate understand vintage watch value. Collectors often vie for a watch that accompanied a notable character through their historic journey of life. There have been many of these watches sold in the past but no two are more significant than these two.
The most expensive and important Rolex ever sold in public. The original Rolex Daytona “Paul Newman” owned by Paul Newman himself. This watch sold on 2017 for the record breaking sum of $17,752,500. The sale of this watch was monumental for two reasons. First prior to the original Paul Newman coming to market the exotic dialed “Paul Newman” was already an icon fetching unmeasurable amounts at auctions so collectors world wide were already well versed with the influence and power of the Daytona. Second, Paul Newman the man has been highly regarded as a spectacular actor and human being, an icon of Hollywood. When the sale was announced two worlds came together. The watch world and the world that admired Newman, the man.
The Rolex Moonphases 6062 in yellow gold belonging https://vintagewatchesmiami.com/home/sell-my-vintage-watch/to Bao Dai, the last emperor of Vietnam. This is another example of a watch that has an increased value due to its previous ownership, on top of its already substantial value.
The Rolex 6062 is regarded as one of the most beautiful watches ever made. Not many were produced and far less were manufactured with a black dial. In the past black dialed 6062 have sold in the ranges of $500,000 to $900,000, however the watch previously owned by the Bao Dai sold for the record sum of $5,066,000 understand vintage watch value.
Comes to show that a watch with a historical past will often times attract a larger pool of willing buyers ready to pay premium sums.
5- Marketability – Is There Someone Out There For You?
A few years ago a very special, unique, and historically important watch came to market. The watch was a Vacheron Constantin that had been long lost. Everything about the watch ticked the boxes to make it a million dollar watch. From its provenance, to its craftsmanship, to its mechanics, to who sold it the Vacheron was supposed to bring down big money. However when the moment came to be the watch sold for much less than originally thought. Granted it brought in a lot of money, $740,000 to be exact.
The main reason why the unique minute repeater Vacheron undersold is simple. The market was not hungry for a small tonneau shaped watch. Did not matter how important it was, a watch is worth what a buyer is willing to pay at that moment.
So you have to ask yourself is your watch appealing to the market at the moment? Will the buyer appreciate it right that second or are you better off waiting until the moment is right.
6- How Rare Are You?
It all comes down to supply and demand, the less the supply the more demand. This case is increased when it comes to watches and even more so when those watches are Rolex or Patek Philippe.
When the watch is limited and bears the name Patek Philippe or Rolex you can bet prices will be high. When a watch with that name on the dial is unique and its design is inline with the current market then prepare yourself for a million dollar watch understand vintage watch value. The pictured unique Patek Philippe 530 manufactured in 1941 sold at auction for $1,445,000.
7- It’s Complicated
A complicated watch – like those displaying a chronograph function or a perpetual calendar are from the bat more expensive than those watches with simpler functions. When it comes to vintage watches a complicated watch will sometimes command substantial premiums.
A complicated vintage watch is carries a premium for the following:
- Their production required more craftsmanship and technical skill as technological advances were scarce in the 40’s through the 80’s – very limited quantities made due to this
- They were often cased in smaller cases (under 40mm) which ties in with the fact that they were entirely made by hand and often took years to complete
- They were manufactured during the turbulent decades of the 40’s, 50’s, 60’s therefore they are also symbols of resilience and are historically significative
The Audemars Piguet Perpetual Calendar 5516 from 1957 sold for $675,000
8- Craftsmanship, It Matters How and Who Made It
The appeal of Swiss watches is largely based around the fact that they embody quality and top of the line craftsmanship. However within those watches there is a division between “mass produced” timepieces (Rolex) and highly limited ultra technical timepieces (Philippe Dufour). As watch collecting has evolved the market has begun to see technical watches creep up in price as collectors have embraced the art of watchmaking.
Though not yet vintage but rather neo- vintage watches produced by Roger Smith, George Daniels, FP Journe, Philippe Dufour have become incredibly popular and sought after. Collectors vie for them due to their exclusivity, rarity, and technical marvel.
One of 8 examples of a Philippe Dufour is expected to sell at upcoming auction for 1 to 2 million but can likely reach $7.6 million final result understand vintage watch value.
9- Heavy Metals – They Matter
Metals matter a lot. Watches can be found in an array of metals some precious while others are not. When it comes to collecting vintage watches the case material can define a hundred thousand dollar watch and a million dollar watch. https://www.googleadservices.com/pagead/aclk?sa=L&ai=DChcSEwjf04S8oq78AhXS53cKHa36AEgYABAAGgJlZg&ohost=www.google.com&cid=CAESa-D2RzU6NCSvaAawFV9Smjx8hrflvP8tojhBpeT95orlllWHh2YdOmFgQGOB26-mQJpAy3vjwE1wBHSSmXRfVjIEEgnRlz838aIBC0PaIN1KZK6p6pLWaCRtkdOw7shViFUZfPiqOSfvxEtg&sig=AOD64_3s_vqEeT1kkKsMhFY6NSiIWhjk8g&q&adurl&ved=2ahUKEwjF-P27oq78AhVF6aQKHbeaDiMQ0Qx6BAgFEAE
Within the world of vintage watch collecting, specially amongst the top three – Rolex, Patek Philippe, Audemars Piguet the case material is hugely important. The unofficial hierarchy of metals by value (from least expensive to most expensive) is the following:
- Yellow Gold (least expensive)
- Pink Gold
- White Gold
- Platinum
- Steel (most expensive
People are bewildered when they realize that steel carries huge premiums over gold. The explanations are simple. During the tumultuous eras of the 40’s through 70’s watchmakers were manufacturing more watches in gold due to their market value, while they were largely disregarding the platinum and steel metals, often reserved for special orders. Therefore we are back to supply and demand. The less vintage Pateks available in white metals the more they will cost.
Above are two pictures of a Patek Philippe Perpetual Chronograph 1518, they are the same watch but one (on the left) is yellow gold while the other (right) is steel. The price difference between them is $10.4 million. You read that correctly. The Patek Philippe 1518 in steel is the most expensive Patek of that metal ever sold.
To determine the value of a vintage watch, you can consider the following factors:
Brand and model: Watches from well-known brands and popular models tend to be more valuable.
Condition: The condition of the watch will affect its value. A watch that is in good condition with all original parts is generally more valuable than a watch that is in poor condition or has had parts replaced.
Age: Older watches are generally more valuable, especially if they are rare or hard to find.
Materials: The materials used to make the watch, such as the case, strap, and movement, can affect its value. Gold, platinum, and other precious metals are generally more valuable than stainless steel or other less valuable metals.
Features: Watches with additional features, such as a chronograph or date display, may be more valuable.
To get a more accurate estimate of the value of your vintage watch, you may want to consider consulting a professional appraiser or checking online marketplaces to see what similar watches are selling for. It is also a good idea to keep in mind that the value of a vintage watch can vary depending on the demand and market conditions at the time.
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