I collect vintage watches for the thrill of the hunt and for the pleasure of wearing them. To me they represent quality and a sense of permanence in an age where everything else seems to be increasingly temporary and disposable. Some will continue to increase in value, some may not, but their investment potential is of secondary importance to me. I’ll still be wearing and admiring my vintage Constellations long after many generations of Apple watches are in landfills.
I have bought and sold numerous Rolex watches over the years.
- Rolex Daytona, pre Oyster, sold for $2,800.00. Sold circa 1980.
- Rolex red Daytona, Oyster case, acquired in 1989. Can’t show price in case the new owner frequents this MB, and
finds out what the dealer paid me. Sold 2015.
- Rolex Submariner, steel and 14-karat, steel bracelet. $ 2,000.00, sold circa 1980.
- Rolex GMT Master, $2,400.00, sold circa 1978.
- Rolex Oyster gold-shell, $2,200.00, sold circa 1980
- (And the kicker!) Rolex Daytona Paul Newman (yes, it was real,) Sold for $4,800.00 circa 1990.
- Rolex GMT Master II, sold for $8,400.00 in 2017.
- Rolex steel bubble back Oyster Perpetual. Sold for $1,000.00 circa early 1990s.
- Rolex steel and 14-karat yellow gold, Oyster Perpetual, hooded bubble back. Sold circa 1990 $4,500.00.
- Rolex shrapnel proof (hunter style), manual wind, 1916 vintage, Rebberg movement, sterling case. $1,200.00, sold
Circa 1990.
All these sold for Canadian dollars, except the last two which were in U S $. Check on line sources to see what prices are being asked for, for these, today! These all would have proven to be better investments for me had I kept them. Fortunately, I still have eight Rolexes.
Keep stuff long enough, and chances are, you can realize a higher price when you sell. But in depreciated dollars. Take a watch for example that you might sell for X dollars. Calculate the buying power of a dollar at the time you bought it, extrapolate forward to the buying power of a dollar the day you sell it, and chances are you broke even.
Don’t take anything I say regarding investment in watches as being guidance for you. As you can see, with the one exception above, I’m a lousy investor.
I had expected to see some softening, but surprisingly, I think the vintage watch market has been extremely strong in the face of COVID-19. I have seen very active bidding and high auction prices. I suspect that people are looking for things to do and they are spending more time and money on their hobbies. Or maybe they are even picking up new hobbies and ways to spend their money since they don't have sports, sports-betting, etc. Day-trading and buying watches. I have seen some softening in the pre-owned market (e.g. 1990s watches), but not in the collectible vintage range.
Surprisingly, online auctions are delivering ridiculously high for average (and some good and great) watches. This weekend will be interesting to see if that trend continues. Private sales are no bargain either so it feels like the vintage market has not taken a big hit
10, 20, 30 years from now? I'd say, if said vintage watch(s) is/are in good shape, they will hold value due to the number of those watches available in that shape at the time. Then again, maybe the people of the future will have a 'heads-up display' surgically implanted in their eyes, or a direct connect USB port at the base of their brain...who knows what interest in an intricate movement and pleasing design will hold.
The real question is 'what value doI hold in this wonderful piece of engineering and design, either today, or in the future?'...and that is your answer. To me, watches are a pleasure, not an investment, but I will also take care of them to ensure they have a good long life, which might also result in increased monetary value over time, but is absolutely guaranteed to bring value (aka pleasure) to me on a daily basis.
Who cares. I would only be buying rum with the money and drinking it away. Much better to have something that you like to wear and that is pretty unique. They will not be making any more of them so they will always have some kind of value.
I had expected to see some softening, but surprisingly, I think the vintage watch market has been extremely strong in the face of COVID-19. I have seen very active bidding and high auction prices. I suspect that people are looking for things to do and they are spending more time and money on their hobbies. Or maybe they are even picking up new hobbies and ways to spend their money since they don't have sports, sports-betting, etc. Day-trading and buying watches. I have seen some softening in the pre-owned market (e.g. 1990s watches), but not in the collectible vintage range.
You're right - unfortunately the pandemic is just reinforcing the wealth gap. My friends who work in tech or various professional services are busier than they've ever been, but if you're in retail, entertainment, hospitality you're looking into the abyss for another year or so. People with money have just as much as they did before, with nothing to spend it on except goodies available online. Boredom + available case = juiced-up auction prices. (Heck, I'm thinking of sending in some scrap gold jewelry and spending the proceeds on watches, which I normally wouldn't have time/energy to even contemplate.) I don't see this changing in the next 3-6 months. We'll see if a real depression gets going next year, which might shake things up a little.
Whenever there is a lack of trust in stocks and shares investors turn to property, art, cars, jewellery/watches. This has been the trend for the last 20 years (even before that, post recession times). They feel safer with something they can see and touch. There is also the added bonus of an investment they can enjoy. Mistakes are still made through poor choices but plenty have gained wealth, particularly in the classic car market.
Personally I don’t think there is a huge amount to make in the watch market (if you start collecting now) but a shrewd investor won’t loose money. Many will try and fail. Others like myself, will learn to do their research, buy what they like, and break even somewhere down the line.
The demand is there, particularly for vintage items.
Based on auction results today the vintage market
is soaring despite absolute global disarray
That auction with superb and very-well preserved standard-production watches from 2019😉
and out-of-this-world prices for Pateks etc...
An auction where we'll never see enthusiasts watches (e.g. Russian military Poljot chronographs) 🤔
couldn't care less what prices will do...
That auction with superb and very-well preserved standard-production watches from 2019😉
and out-of-this-world prices for Pateks etc...
An auction where we'll never see enthusiasts watches (e.g. Russian military Poljot chronographs) 🤔
couldn't care less what prices will do...
Prices of modern pieces is really baffling. People are paying double C24 prices 😕
