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well I think a few fall into both categories.
great condition mid 60’s to 70’s non diver Seiko watches. Excellent examples can be found at decent prices if you hunt and do your research.
I think great condition Seiko divers from the 70’s are still on the way up, mid level condition ones are meh. You need to buy smart, which takes time and research.
Junghans military chrono - fantastically engineered but just not a popular brand compared to some lesser contemporary models
Only one I agree with that's under valued still can be had for under 2000 US bucks most I see posted in this thread still over priced any thing over 2000 bucks over priced. Think I paid 1700 for my Junhans Bund a few years ago out of all the issued Bund chronographs this one the price never seems to go up. I paid 1800 for my Heuer Bund and that one had double or more in price. I guess we have to many young collectors who don't remember prices about 5-20 years ago and seen the prices just jump insanely 10 years ago I paid 2000 for a 1972 Tudor 7021/0 Snowflake now they sell for what crazy. Some times I think people got more money than brains who are new to this hobby and sort of ruined it.
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Nothing wrong with this best bang for the buck.
I love this topic, there are so many gems out there that don’t get the attention they deserve! I totally agree with you on the Blancpain, it’s such a sleeper piece for what it offers. I’d also say Asorock Watches fall into that “undervalued” category. They’re not mainstream yet, but the quality, design, and craftsmanship you get for the price are seriously impressive. It’s one of those brands that surprises people when they see it in person, definitely worth checking out if you like getting a lot of watch for your money.