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The Value In Watch Collecting

  1. noelekal Home For Wayward Watches Dec 30, 2014

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    NXW1969's insurance thread got me to thinking. Have vintage watches and the watch hobby come to the point of enjoying the respect commanded by some other collecting hobbies? I’m probably out of touch but it seems that watches and watch people are taken less seriously than other collecting pursuits and pursuers.

    The menagerie of watches around here represents more an accumulation than a focused collection. I may (or may not) mature in future watch acquisitions. Quite a few watches were gathered in before I would even admit to myself that I was collecting them. I haven't been concerned with watches as an investment. I'm not trying to make money off of them. Certain watches appeal to me. If a person has an interest in vintage watches then it would behoove him to gain some knowledge so as to avoid throwing money away needlessly. The Forum sure is an eye-opener!

    I’m comparing my interest in watches to my longtime interests in numismatics and collectible firearms. I have matured a bit in those two collecting fields. Every hole-in-the-wall pawn shop, at least the ones in my region, keeps a selection of common date coins displayed, over-graded and over-priced as they invariably are in such establishments. Same goes for classic firearms as found in any gun shop or gun show. If the gun is roll-marked Winchester, Colt, or Smith & Wesson and is from a bygone era, you can expect it to be marked up to well over its actual value, especially if one factors in the frequent deferred maintenance, abuse, and the evidence of Bubba’s handiwork on a modified piece.


    Vintage watches are different around these parts. They're not so universally popular. Go into a pawn shop, antique mall, or mom-and-pop jewelry store and inquire about vintage watches and you’ll receive a discouraging reply. “We won't take them. We can’t move them. There’s no interest in them and no money in them.” Vintage watches? They just don't want to know. A vintage watch aficionado is unable to buy watches at any price as none are available at the retail level. Is this generally found to be so in other locales?


    Guns are hot in this part of the world. Coin collecting seems to be waning a bit with the present generation. Watches would seem to be as marketable as coins, as easily graded, and as appealing. Watch production figures and surviving examples would be comparable to lower than many coin types and mintages. Watches would seem more easily traded by all, more marketable than firearms given the lack of Federal bureaucratic hassle connected with dealing in firearms.


    I’m in the remote hinterlands of Texas and haven’t yet explored possible retail outlets for classic and vintage watches that may be available in the larger cities like Austin, Dallas, Fort Worth, Houston, or San Antonio. Are there any opportunities for vintage watch shopping in your locale or are watches mostly traded online?
     
  2. Fritz genuflects before the mighty quartzophobe Dec 30, 2014

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    I wouldn't group watches in with items like coins or stamps, watches are too specialized. I used to live in a small farm town and the local stamp dealer worked out of the back of the hardware store, along side the Kentucky Fried Chicken counter.

    Vintage or antique watches are more like guns, they require special knowledge and abilities to service and deal properly. Yes, good deals can be found in pawn shops and antiques stores, but I would imagine they shy away because if a watch goes wrong after the sale they can't deal with it properly and therefore the deal can become quite unpleasant. I think as this hobby grows the number of dealers will grow as well, both good and bad, and collectability and values will continue to climb.

    Perhaps we can consider ourselves lucky to have gotten in a the head end of the climb, because some of this stuff may be very expensive in the near future. Much like vintage cars and bikes, the days of buying a clean runner cheap and enjoying it without worrying about its value may be passing.

    To think I paid $1400 for my very clean and original 1953 Triumph with only 3900 miles on its clock!
     
    Georgieboy58 and noelekal like this.
  3. oddboy Zero to Grail+2998 In Six Months Dec 30, 2014

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    Dibs on the Triumph! And I'm in Canada too!

    ;)

    (it might make a nice mate for my '00 bonneville - not the same as a '53 I'm sure)
     
  4. gatorcpa ΩF InvestiGator Staff Member Dec 30, 2014

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    Frankly, I think you need to go to a better grade of pawn shop. ;)

    As far as top end pieces go, the most valuable watch in the world was recently sold for more than double the amount that the most valuable coin in the world has sold for ($24 million vs. $10 million).

    http://edition.cnn.com/2014/11/12/business/24-million-gold-watch-sothebys-record-patek-philippe/

    http://mentalfloss.com/article/53557/10-most-expensive-coins-and-banknotes-world

    On the other end of the spectrum, I'm sure a lot of those overgraded and inexpensive coins sit around for a long time at those stores. My opinion is that while the pawnbrokers understand the value of the precious metal in watch cases, most know nothing about the movements inside. Therefore, they don't really know the value of non-precious metal collector watches outside of known quantities like Rolex sport watches, Omega Moonwatches, etc.

    Nowadays, even mid-level and below coins are at least certified as genuine by grading services, even if they can't give a numerical grade due to some sort of damage. There are all kinds of price guides for coins, the internet based ones are pretty accurate. Some coins are so common they are traded more-or-less as commodities.

    The prices guides that are published for watches are always hopelessly out-of-date, even if they bear the current year.

    So the pawnbrokers won't buy (or loan against) watches when they can't verify current value. Wise business decision on their part.

    Another issue I have is that organizations that are supposed to publicize and promote the hobby (read: NAWCC) have shows that are effectively closed to the public, as the cost of entry is ridiculously high. I wanted to attend an event in my city a few years ago. It would have cost me over $200 just to walk through the door, even if I found nothing to buy. Every ANA show I've seen has one or two "general public" days, where there is no cost to attend the bourse.

    Penny wise and pound foolish if you ask me.
    gatorcpa
     
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  5. Fritz genuflects before the mighty quartzophobe Dec 31, 2014

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    I've got to agree with gatorpa, I'm a member of the NAWCC and was surprised at the cost of attending one of there meets. I also found many of them to be quite unfreindly to outsiders and, in spite of their code of ethics, not entirely honest in their dealings. The price guides can be a nice source of information, but not of real world prices.

    We have a long way to go before we're as well set up as coin or stamp collectors.

    I do find stamps easier to wear, just lick and stick.... not as figity as a new leather band
     
  6. STANDY schizophrenic pizza orderer and watch collector Dec 31, 2014

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    I find myself as a have(er) more than a collector

    Have hundreds and hundreds of lures from around the world and use them all so would not class myself as a lure collector, Just have heaps. To a outsider it would look strange to see me and a mate in a boat both with over 200 + lures of each and every colour and size known to man, and three rods each, going for a quick fish



    Never surprises me what people collect but

    In my neck of the woods, wooden fishing lures (hand made) are the most collected and the opposite applies to watches. A 50year old beat up hard to make out lost all of its paint and rusting lure made by xxx can make a few hundred dollars.. character they call it :whistling:
    That old wooden lure in your dads (uncles) old tackle box could be worth a mint.......::book:: http://www.lurelovers.com/
    Especially you guys from Sweden and Finland.;)