How Can You Determine The Value Of A Luxury Watch?
Whether you have a single piece or half a dozen, determining their value is a valuable exercise for many reasons if you own a luxury watch. Firstly, if you plan to sell your watch in the future, knowing its worth can help to ensure you get the best deal for your money. Secondly, understanding the specific value of your watches can ensure you provide the level of safety and security needed for what may be a costly heirloom. Here are some of the main ways you can determine the value of a watch:
The brand of the watch
The brand is the first indicator of how much your watch may be worth. The more well-known and loved a brand is in vintage collector circles, the more likely you hold a possession with significant value.
For luxury watches, Rolex is always popular with both in-demand modern pieces and collectable vintage pieces often commanding high prices.
Brands like Patek Philippe, Audemars Piguet, and Omega are all top names to look out for when valuing your pieces. The prevalence of these sought-after brands can sometimes make it easier to find comparable models for sale to give a general idea of value, however the specific value of each piece will of course depend on a number of factors. Serial numbers are also used by most brands, and can be useful to aid collectors and experts in accurately dating and identifying watches.
The box and papers
The original box and paperwork that comes with luxury watches are far more than just set dressing. The packaging your watch comes in can be an additional source of value and a sign of authenticity. If you have the warranty card and any certifications for your luxury watch, this can help to bump up its value even higher. While the box and paperwork aren't dealbreakers, the older your watch is with paperwork and box intact, the higher the potential value.
the condition of the watch
Condition is key to the value of vintage watches in particular and in ways you may not expect. While bumps, scratches and damage aren't valued, and a watch that isn't working isn't nearly as valuable as one that ticks over perfectly, some signs of ageing are preferable to collectors.
Vintage luxury watches with a patina – showing a natural ageing process to the hands or dials – is sought after by luxury watch lovers, provided the watch's functionality isn't compromised in any way. Over-polishing of older watches, and replacing items like the hands and dial with new ones - while making the piece look factory fresh - can often devalue the watch to collectors.
the rarity of the watch model
Scarcity and rarity are fundamental to increased value for any product, and watches are no exception. The more limited edition the watch, the more it will be coveted by other collectors.
Extremely rare pieces can fetch prices far beyond their initial cost. To take that one step further, completely unique watches – such as the famously auctioned Paul Newman Rolex Daytona – fetch incredible prices thanks to their one-of-a-kind nature.
In some cases rare models may be hard to spot at first, as they can often look very similar to more common versions of the same watch. For example, subtle differences in the font or text used on the dial or bezel can signify a variation produced in limited numbers, that is much rarer and highly sought after than a version produced in larger numbers.
Demand For That Particular Watch
Demand drives buyers in any sector, and the luxury watch industry is no exception. If there is demand for a specific type of watch, style, or design, it's more likely that the price of that watch will be driven higher than it would be.
This demand can also mean quick sales for anyone looking to sell off part of their luxury watch collection, with buyers searching for specific makes and models for immediate purchase. Demand grows alongside scarcity, with many older vintage luxury watch models having high demand and low availability, leading to even higher price tags.
However, demand is not just high for vintage watches. Newer watches too can be highly sought after, which can impact prices. Limits on how many watches brands are able to produce each year, particularly for popular models like the Rolex Submariner or Patek Philippe Nautilus, can mean that customers turn to the pre-owned market rather than trying to buy brand new watches.
Popularity and current trends
Luxury watches are an accessory at the end of the day, making them just as influenced by the whims of fashion and trends as any other item you wear.
While some collectors don't choose to wear their luxury timepieces or purchase them to meet current trends, others will. For example, recent trends for androgynous or masculine watches for women have seen increases in the purchase of 70s and 80s-style bulky timepieces, resulting in higher prices and less availability.
As another example, the release of Patek’s Tiffany Blue Nautilus in 2021, along with the Rolex Oyster Perpetual with Turquoise blue dial, has seen a trend for watches with this dial colour increasing in popularity, and often value.
