Estimating the price of a watch
Like any collectable, the prices of watches derive from supply and demand dynamics. Sellers will usually set their prices on the average of the platform of their choice, plus or minus a % based on the shape, features, and content of their offering. The later adjustments are often strongly subjective, thus making watch prices on the secondary market almost always open to negotiation. A good watch buyer should be able to assess the factors that make the value of a watch to be able to negotiate a fair price. Below are a few that you should always consider when estimating the price of a watch on any secondary market platform. Based on how well the particular item performs across each factor, you may withdraw or add a couple of % points to the average market value of the reference.
Originality: A watch that is in original condition and has not been altered or modified is generally more valuable than one that has been restored or repaired. “Frankenwatches” are unfortunately way too common and often hard to spot for beginners in the hobby, and you should avoid these as much as you can.
Wear and tear: Minor scratches or signs of wear are expected on a watch, especially one that has been used for many years. However, significant damage that cannot be restored, such as deep scratches, dents, or cracks, affects the watch's value. You need to learn to distinguish between “patina”, which subtly illustrates the life of a watch that has lived and the real patina of watches that haven’t been loved.
Service history: A watch that has been regularly serviced and maintained is generally more valuable. Servicing costs vary between brand and model, but you can always account for its cost to be reflected in the price.
Rarity: A rare or unique watch in good condition can be highly valuable to collectors. However, if the watch is damaged or in poor condition, it may not be as valuable as a more common watch in better condition.
Provenance and history: A watch with a documented history, such as one owned by a famous person, used in a significant event, or from a reference with a certain historical significance, is more attractive to collectors and, therefore, more valuable.
Originality, condition, service history, rarity and provenance of a watch are all important factors in determining its value. There may be other factors that you would like to keep an eye out for, such as the popularity of a watch on social media as an indicator of demand and price.
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A vintage 18k gold Omega Seamaster Chronograph
Compact dressy gold chronographs are generally attractive, and this Omega Seamaster Chronograph should be no exception. While the Omega Speedmaster cal. 321 pre-moon takes a premium to obtain, its Seamaster counterpart has always been under the radar. Granted, the two don’t share the same history, but the Seamaster 321 offers great value for the money. It is a classic chronograph for a fraction of the price of a Breguet 3237, with the movement of the first watch on the moon.
This particular Seamaster 321 is offered at auction on the 25th of April in Toulouse, France, by Marambat de Malafosse, with the possibility to bid online during a live stream. Given that it is not overly popular, the watch may go for a little more than its estimate, thus making it a great buy, even with a complimentary service.
A Cartier Tank Basculante 2405
The Cartier Tank Basculante 2405 is a unique and rarer model than most Tanks or its Jaeger Le Coultre counterpart, the Reverso. First introduced in the 1930s, the Cartier Tank Basculante’s unique case design can be flipped and rotated on a hinge. This allows the wearer to protect the watch face while travelling or engaging in other risky activities, like the more popular JLC’s Reverso.
This particular Tank Basculante 2405 is proposed by the Swedish auction house Kaplans at auction both live and online on the 29th of April. It is a modern reference from 2000 and has much of its original kit, box and certificate. The watch has an engraved case back. It can be removed with polishing, but it does affect the watch's value. However, given its estimate, condition and kit, it is a great opportunity for someone looking for a dress watch and/or a Cartier tank watch.
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T.W.B.