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End Game Of Your Collection

Privateday7
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Probably only few of us think about what would we do with our watch collection and hoard in long term view. We just enjoy it as hobby, investment and probably some profit.

Recently I just heard sad news that a local Omega collector passed away, and no one could track his family address. So more than 200 pieces of vintage Omega fate is unknown. His dealer friend even don't know the collection whereabouts. Also In Indonesia estate sales or auction is never happened. I guess either his children continue to keep it or sell it one by one.

So that makes me think what should I do with my collection in the future? I decide that at one point in time I will consolidate to less than 10 watches, then inherited them to my boys with caveat they should maintain it at least for another 10 years. (My daughter will get jewellery and watch from my wife).
I see at least several type Speedy, Seamaster and Connie in that short list.

So what is your plan with your collection and hoard ( that is still being actively accumulated now) in future?
 
dsio
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Its an interesting question really, I think the best thing to do really is to just pass them on to family, but any vintage pieces over $3k or so, I'd consign to an auction house, and distribute the funds to family and organisations of my choosing (in my case the electronic frontiers foundation would get a significant chunk).

By putting them through an auction house, you know the collector community will get to take their best shot at the pieces and they'll be protected and appreciated, while the money will be reasonable. The worst case scenario is a vintage watch dealer finds out about the collection your relatives inherit, and uses them to buy a new car.
 
omegastar
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My opinion, is that it really depends on the family. I mean, if they are interested in your collection or not. If not, I am better qualified to transform it into money. But my wish would be that my sons share the same passion, but you can not command.
I have bought several watches from people who had kept them for their sons. In the end, the sons prefered Swatches to gold watches and the owner gave up and sold the watch he had safely kept for several decades. Generally these people are disapointed by the lack of interest of their heirs.
This should also bring a reflexion or a dialogue to determine what is my sons taste and which pieces they would like to have. Maybe they will dislike gold watches and think they are out of fashion, maybe they will all want the same SM 300 and then I should have two. My sons are still very young and I hope to live long enough to do that.
 
pitpro
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Maybe I will sell them off 1 by 1 in my old age for a fun passtime.
I have kept detailed records on purchase details AND watch details.
Rarity, value, etc. Of course the bad thing about leaving instructions
to send them to auction is the tax man. Both my sons love watches,
and I will specifically leave certain pieces to them, but I told my wife
the watches will be hers, and to have the boys sell them piecemeal to
get value.
 
U
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I plan on handing down select watches that I've owned since new. No kids of our own, so they'll be given to the nephews on both sides. I would imagine Windy will give her watches to our nieces. If one of the kids does take a shining to watch collecting, you can bet I'll foster that interest and maybe save a few select vintage pieces for them.

Well, by then even my new watches will be vintage (I hope).
 
UncleBuck
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U ulackfocus
they'll be given to the nephews on both sides.

I've always thought of you as "Uncle Dennis" !

Wife's wedding ring and heirloom jewelry to daughter and granddaughters, a few heirloom watches and WWII firearms to son and grandson all based on history, not value. Everything else will end up as estate sale gruel or maybe on an episode of "Pawn Stars". I'm sure I'll never be able to part with anything I like.
 
SpikiSpikester
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Nothing is forever. If in 20-30 years time my children aren't interested in having any of them, I'll probably start liquidating the collection in my old age & using the money for other things.
 
D
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Probably start liquidizing slowly, piece by piece, using the money for other things and perhaps have a couple of sentimental pieces to pass down to the kids. But as Warren says: Nothing is forever.
 
cicindela
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If I go my wife has instructions and contact info for a couple of "trustworthy collectors" in N.J. to handle the dispersal sales. You guys should be able to get some nice deals, after they take their commissions 😁
 
U
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That might be the only way I ever get my hands on that sweet pink gold capped crosshair caliber 551. 🙁
 
cicindela
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U ulackfocus
That might be the only way I ever get my hands on that sweet pink gold capped crosshair caliber 551. 🙁
Patience Grasshopper. All things come to he who waits... or is very old. 😜
 
CanberraOmega
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Interesting question. I recently received a very large number/value of gold coins from grandparents. I had no hesitation in selling them ($ used for a house deposit) because I knew they had originally purchased the gold for bullion value/alternative currency/safe haven investment/protection during WWII. If they had been bought as a collection I would have felt differently about it.
 
UncleBuck
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CanberraOmega CanberraOmega
purchased the gold for billion value.

Daniel, how many coins did they buy?

One mans' collection is the next mans currency.
 
U
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A billion - isn't that what he said? 😜

(guess he bought a castle with that kind of cash)
 
Melhadary
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No children yet, but for me honestly, who ever precedes me will definitely know that if they didn't want to keep them, I would want my collection offered on collectors forums where I know they'll go to those who truly value them like I did, and not only for their financial value...

I do hope that I would be able to instill in my children the interest in these pieces of art, though, just like I picked it up from my folks, and that they'll grow up seeing how much I value these Seamasters I collect so atleast appreciate them because I did. They'll always be a part of me, so if they want to retain a part of me that is tangible, those watches would be it! The biggest challenge would be to also teach them how to get their children to appreciate them as well!

I guess the state of Omega as a company will also play a huge role in how they will be perceived at the time......................
 
Privateday7
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dsio dsio
Its an interesting question really, I think the best thing to do really is to just pass them on to family, but any vintage pieces over $3k or so, I'd consign to an auction house, and distribute the funds to family and organisations of my choosing (in my case the electronic frontiers foundation would get a significant chunk).

By putting them through an auction house, you know the collector community will get to take their best shot at the pieces and they'll be protected and appreciated, while the money will be reasonable. The worst case scenario is a vintage watch dealer finds out about the collection your relatives inherit, and uses them to buy a new car.

Interesting approach by segmenting below and above 3K. There is no watch/ antique auction house in Jakarta, the closest one is in Singapore. So mostly the vintage dealers who are willing to put capital in buying in lots.
I think I would also follow this segmenting approach, probably with lower limit e.g 2K. .......or teach them to leverage eBay and watch forum like ours.
 
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