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WORLDWIDE Chapter 149 Message Board Forum Index » Wrist Watch discussions » Making Money on Old High End Wristwatches
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Making Money on Old High End Wristwatches
PostPosted: Thu Mar 21, 2019 1:49 pm Reply with quote
pocwatjim
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https://www.nytimes.com/2019/03/20/style/collectible-watches.html?fallback=0&recId=1ImA9ANkUJlk1TbTe505sIuaSfN&locked=0&geoContinent=NA&geoRegion=CO&recAlloc=top_conversion&geoCountry=US&blockId=most-popular&imp_id=259113983&action=click&module=trending&pgtype=Article&region=Footer

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PostPosted: Thu Mar 21, 2019 6:01 pm Reply with quote
StephanG
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Beware anything when "investors" get involved.

Everyone wants to buy low and sell high but it is like a game of musical chairs.

Sooner or later the music stops and someone is caught without a chair.

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PostPosted: Thu Mar 21, 2019 6:21 pm Reply with quote
Sangamo
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those last few paragraphs..............

Not every old watch has value. Anyone who scoops up a cheap boxful of half-working Bulovas from the 1950s at a flea market is likely to end up with a cheap boxful of half-working Bulovas from the 1950s.

Vintage watch collecting can prove a minefield for newbie collectors. Even with blue-chip models, seemingly imperceptible differences can add or detract thousands of dollars in value. A Rolex Submariner from the 1960s with an original bezel insert featuring a so-called long 5 is worth thousands more than one with a replacement insert with a shorter, more contemporary 5.

Buyers need to figure out if a watch has been polished over the years — actually considered a bad thing, since polishing can wear down the crisp edges of its case, Mr. Wind said. And they need to watch out for unscrupulous dealers peddling so-called Frankenwatches, which contain non-original parts that can torpedo the value.

Besides, watch collecting can be similar to art collecting in that dealers tend to reserve the most coveted pieces for insiders and heavyweight collectors, rarely making them available to the general public.

And then there are the fickle market tastes that any sort of collector must try to anticipate. Right now, the arrow is pointing up on best-of-breed sport watches with steel bracelets, like the Nautilus, the Submariner and GMT, the early Speedmasters, the Audemars Piguet Royal Oak and certain vintage Tudors and Heuers, Mr. Clymer said.

There’s no telling how the demand for five- and six-figure timepieces will hold up should, say, a credit implosion in China, or a splintering of the eurozone, produce a sequel to the 2008 financial crisis, or should Democratic Socialists sweep to power in Washington on promises of a 70 percent tax rate on the target demographic for museum-worthy watches.

Already, some sure things, like certain Daytonas, are looking like slightly less than a sure thing.

“The market for Daytona just got a little silly for awhile,” Mr. Clymer said. “We saw references worth $20,000, $25,000 in 2011 to 2015 all of a sudden worth $50,000, then all of a sudden worth $80,000. And now those same references are worth $65,000. That’s still significantly higher than they were, but they’ve come down from the stratosphere.”

During the bear market of 2008 to 2009, too, prices for some high-flying vintage models, including Paul Newmans, dipped by 30 to 40 percent, said Matthew Bain, a dealer of fine watches in Miami Beach. But, like stocks, they bounced back to new highs.

The rebound may seem intoxicating. But people who think of their watch collection as an alternative to an E-Trade account may be in for a rude surprise when they discover that watches often come with sizable dealer fees, not to mention substantial outlays for insurance, secure storage and other hidden costs, Mr. Khoo said.

“Investors are not collectors, and collectors are not investors,” Mr. Khoo said. His Watch Fund has a database of “more than 9,000 watch collectors worldwide,” he said, and “I have never met someone who bought hundreds of watches that he liked, and sold 100 percent of them for a net absolute gain.”

In other words, newcomers to the watch world may want to heed the warning attached to brokerage advertisements on television: Past performance is no guarantee of future results.

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PostPosted: Thu Mar 21, 2019 6:24 pm Reply with quote
Neilywatch
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Its a repeat of what happened to PW's.

Wait until people try to have these things fixed~~~

I hear the sound of Switching!!!

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PostPosted: Sat Mar 23, 2019 7:03 am Reply with quote
interstatetime
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Joined: 03 Dec 2002
Posts: 3423
Location: Indiana




StephanG wrote:
Beware anything when "investors" get involved.

Everyone wants to buy low and sell high but it is like a game of musical chairs.

Sooner or later the music stops and someone is caught without a chair.


I just want to announce that I agree 100% with StephanG! Very Happy Cool

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Making Money on Old High End Wristwatches
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