[edited] Imagine it’s 1960 and you’ve got around $200 or £100 to spend on your first high-end watch. What would you have bought? I’m not asking what you would have bought in hindsight, knowing what you know now about the relative value or collectibility of watches, I’m interested in knowing what someone, at that time, would have typically bought as a trophy watch, with that sort of money, in the same way that it would probably be a Rolex today for many people who maybe don’t know so much about the more obscure or less well marketed brands.

It’s for a piece of fiction I’m writing (one of my other many interests).

Thank you.

 

That would have been a lot of money to spend on a watch in 1960; I had some difficulty finding watches that sold for that much. Here's a solid gold Patek (including solid gold rotor and bracelet) (from this catalog):


At the time, I think any men's watch that expensive would have to have been solid gold or platinum and possibly also diamond-encrusted. (Steel Rolex watches of the time topped out at about $250 according to this.)

Which specific brand and kind of watch is probably driven by the kind of individual you're writing about and their style and taste.

 

I’m pleased you said this. As I was composing my post I did wonder whether just looking at the equivalent £ or $ amount overlooked the overall pattern of watch prices. So I think I need to re-phrase my OP, but how? I guess I’m asking: what would be the equivalent of a £10k watch in 1960?

My character is a self-made successful businessman, in his early 40s, confident, and quite showy. Gold would have worked for him, but I don’t think he would have bought the most expensive watch on the market, so that $800-1200 range would have been too much.

 

When I started working for a Rolex dealer in 1965, the price on a steel and 14-karat yellow gold Rolex Date-Just was $495.00. The Rolex day/date on the President bracelet was $1,995.00! So a buck would have gone a lot further then than it does, today. I won the steel Rolex Oyster- Date Air-King I am wearing today, in 1971. The MSRP then was $215.00!

The 1982 Rolex price list has the two-tone Date-Just on the two-tone Jubilee bracelet, was priced at $3,900.00, the 18-karat day/date on the 18-karat President bracelet was $12,500.00, and my Air-King Oyster date was $1,115.00. Percentage-wise, over the 17 years, the increase was far greater on any of the models that were two-tone, or all gold, than was the case on the all steel models.

In 1982, the GMT Master in steel was $1,650.00, and the Submariner-date in steel was $1,895.00! Read it and weep!

The 50-year old Air-King today, sporting an updated genuine Rolex 14-karat yellow gold bezel.

 

JFK frequently wore an Omega OT3980, seems like it might be a reasonable option. This page claims it had a $175 recommended retail price.

 

My now deceased mentor bought his Rolex GMT in 1961 for $150 at a dealer. He was making $5.6k/yr US and thought he was doing very well. He bought his house in Atlantic City, NJ for $21k 5 years later- so $500 was a big chunk of change.

 

Interesting project - there is so much to consider in order to really inhabit times past. And a watch encapsulates so many, well, sociological features of a person's character and environment, besides just their wealth level. Style and taste, as TDBK put it, but also just the environment. For example, back then, everybody in (are you in?) England had heard of Longines or Omega as posh watches, but maybe not JLC or IWC. Patek and VC were more for aristos than workers, even if they had the money. And folks then didn't necessarily get kudos for having a gold bracelet on their gold watch - might even have got OP's businessman excluded from some groups!
So, Constellation obviously, but here's a couple of other suggestions (sorry I don't have contemporary prices for them) from about the right period.

1957


1958


Good luck with the book! Maybe a new Room At The Top?

 

I can tell you in 1960, my father bought this:



My father and mother bought each other Croton watches as wedding presents to each other. I'm sure they just walked into a jewely store and picked what they liked that was recommended. You'll note that this model came in two versions, 17 jewel or 25 jewel. My father picked the 25 jewel version.

If he moved enough to keep it fully wound, he would still be wearing it.

 

Yes, I guess I’m looking at $150-200 then.

 

Thank you, the sociological aspects are important so those comments are much appreciated. This could be exactly the sort of person who is something of an outsider in wealthy circles, and feels it. He could easily have a gold band thinking it would impress, but be wide of the mark and be seen as incredibly flashy.

 

I think you're pointing out that today's trophy watches were yesterday's "just another watch". Plus, most people wouldn't have necessaarily "rewarded" themselves like that; it was much more likely to have an esteemed gift. Watches were a popular graduation present, for example, and yes, an 18-year old kid (for example) would have received an 18K watch engraved on the caseback. The US was still on the gold standard, and it wasn't so comparatively expensive then as it is now.

Not to mention people didn't have as much stuff in general as they do today.

 

I think region and socio-economics have much to do with it as mentioned above- where in the world the characters in your book reside does matters. In the US, Bulova and Omega were top dogs, Longines running slightly along side. Rolex was niche and not hugely marketed here at the time as were all the other high end offerings we think of today.

 

Whenever I see a gold-standard US price, I tell people to multiply it by ten to get a rough idea of today's cost. Doesn't apply so much to technology, though. A decent television cost $500 in the 50s and it costs $500 now. Just a lot more advanced.

 

The whole “tool” thing is overused today but my mentor bought his GMT for practical purposes as he travelled extensively and needed a rugged waterproof watch with the GMT feature.
As for gifts- I agree, watches were very much a gift of accolade. My current boss was given a stainless OPD when he got married to his wife by his father-in-law back in the early 80’s. My boss commented to his father-in-law that it was an extravagant gift- and his father-in-law brushed it off saying it was a young man’s watch- basically not befitting a gentleman of status.

 

I would have bought this watch I am wearing right now. I acquired it recently and it was not easy to find it. I just love the aesthetic and looks of it.




If I am not mistaken, in SS it would be even below that budget but I would get it in steel anyway.

Come on, look how great that watch still looks.

Edit: many here know of this list already, but wanted to share:

 

I think you've written a good description of Colin Chapman, although in 1960 he would only have been 32. Nor sure about early '60s but by 1968 was definitely sporting a gold Rolex Day-Date.

 

The story is based in London.

 

Norf Lunnon? Purrfik!

 

My US inflation calculator says a dollar in 1960 is now $8.74 in 2021. So a $195 Speedmaster back then is now about $1,704 due to inflation, but the outgoing model was $5,350, about 3x over inflation. Granted it might be a little better in construction terms (case/bracelet) but it shows how the watch business has been pushed due to marketing and resultant demand as people around the world have the disposable income to buy such items. The fruits of capitalism on display.