The international market for collecting vintage and antique watches has grown dramatically in recent years. September sees wristwatch auctions in London at Bonhams and Sotheby’s, and November sees a major watch sale at Christie’s Geneva Saleroom. Does this mean now is a good time invest and build a collection?
In 2017, the 1968 Rolex Daytona formerly owned by movie legend Paul Newman sold for $17,752,500. This remains the highest price achieved for a wristwatch at auction and proves watches can be a savvy investment as well as a thing of beauty.
If you are considering buying a vintage wristwatch, it is important to let your head rule your heart and seek out a top quality brand or model:
Don’t buy without investigation – learn about the watch you want to buy. Only buy when you are something of an expert on the brand or specific watch model
Contact the manufacturer – A number of brands have a rich archive of what they have produced in the past
Pay the right price – prices for watches that look similar often vary. Compare sold prices for similar pieces and try not to pay much more than the average market price
Buy from an expert or auction house with a good reputation
(Ref: WatchTime)
For more advice on how to start a watch collection to rival Paul Newman’s go to GQs Collecting Watches Guide
Photo: Sotheby’s