Serial/Reference Numbers and Value

What is the prevailing view on the effect of serial (and reference) numbers to value? Specifically for models like the Polerouter Sub, Space-Compax, and Evil/Nina?

If a given watch has lost its numbers from the caseback, what impact does this have on price/value? Or if numbers are intact, how much does this add to value?

Great question. I'll try to start the ball rolling.

- I think there will always be some collectors who would not buy a watch without serial and reference numbers, almost irrespective of price

- The % impact on price of the numbers being missing will be far greater for watches in otherwise excellent condition. There can be a huge premium for watches in mint condition and the absence of the numbers for an otherwise mint watch would bring the authenticity of the watch into question in my opinion. If the watch has a number of other flaws and is intended for regular use rather than a safe queen then the absence of the numbers may not have a very significant price impact.

- I think the price impact will also vary depending on the model. I suspect the impact will be greater for more premium models like the Nina than a Polerouter Sub. There will also be models where the dial/hands/text/etc will vary depending on the serial number and therefore it's not possible to verify the originality of the watch without the numbers.

All that said, I would guess that the absence of the numbers reduces the price by somewhere in the range of 10-50% for the models stated.

Thanks for the great insight.

Interestingly, I bought an Evil Nina (mint condition) a couple years ago with clear numbers but would not have without them.

Fast forward to now and I picked up a Polerouter Sub, Gen III, which is also rare but at a lower price point as you noted, even though numbers are supposedly gone. Everything else looks spot on and it's in excellent condition, plus includes original GF bracelet with UM endlinks. The price ended up being below market value, too.

I also bought a Space-Compax last year without numbers, because the price was very attractive for its solid condition (and it turned out the numbers are visible with a loupe, so I got lucky, which rarely happens!).

I'd say my experiences align with your points. For me, if everything else looks correct without question for the reference and gen (assuming it can be assumed within reason without reference #), I do not have an issue, but will pay slightly less. And I will make more of an exception the rarer the watch and the stronger my interest.