There is much to consider when investing in a watch. Not only are you buying a useful tool for your everyday life, the right choice could mean that your purchase will hold its value in years to come. The Watch Adviser has published a useful blog post about how to select the right watch for you. Important factors to consider (apart from brand) are the case metal and to be honest in what your personal preference is, rather latching on to a trend. Current big brands at auction include Rolex, Vacheron and Constantine, Omega and Patek Philippe. Having kept an eye on watch auctions for some time, the clear giants which lead this industry are Patek Philippe and Rolex. The world record for a watch sold at auction belongs to a Patek Philippe. Last year, the company celebrated its 175th anniversary, which also coincided with the year that Sotheby's broke the world record for a watch sold at auction for The Henry Graves Jr Supercomplication, which was commissioned in 1925 and took eight years to complete. It achieved 23,237,000.00 CHF. This gold, double dialled and double open-faced, minute repeating clockwatch with Westminster chimes registers for 60-minutes and 12-hours and is accurate till the year 2100. It is an incredible timepiece which is comparable to a piece of art.
Christies have also achieved exceptional prices at auction for Patek Philippe timepieces. This rare 18ct gold perpetual calendar chronograph achieved 1,985,000CHF. Again, a magnificent example of the meticulous craftsmanship that goes into each watch.
But what makes these watches so desirable? John Reardon, International head of Watches at Christies, suggests in his expert guide that their success hinges upon the scarcity of the brand. Less than 1 million Patek Philippe watches have been made since the company was founded in 1839. The number of watches produced reflects their superb quality, and the rise in demand. He also touches upon the fact that when you invest in Patek, you invest in a timepiece that will stand the test of time. It is not only Patek Philippe which dominates watch auctions. Although not known for horological feats or for their complicated movements, Rolex are renowned for their watches of excellent quality built for a specific purpose.
Christies International Head of Retail, Reginald Brack, has written about the public’s love of Rolex and the reasoning behind this. He mentions how the brand is known for being the original “tool” watch and how specific features, from the bezel, to the symbol of the crown, can significantly increase the value. The most expensive Rolex to be sold is this beautiful vintage 1949 Oyster Perpetual model with a cloisonné enamel dial, which sold at Christies for $1,220,632 in May 2014.
With Rolex also achieving excellent results at auction, it is fair to assume that whichever brand you decide to invest in, you will have a timepiece for life that will always hold its value should the time come when you want to sell this on, or borrow against it.
Contact us if you need a loan against your watch, whether it be a Rolex or a Patek Philippe or any other brand.
