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Vintage Timepiece Watch - Part 1

I've had a lot of friends reach out to me regarding getting more serious into purchasing their first time piece. So I thought I'd put together a few things other's have taught me along the way as well as my 2 cents on what is worth getting and what you should pass on... I will specifically speak towards purchasing a pre-owned or as I like to call it "pre-loved" piece.  I strongly encourage those that are looking to get there first or second serious time piece to look at the older Rolex / Tudor / Omega / as they tend to hold their value better. So we'll be mainly discussing those brands.

Buying a watch new is no different than driving off the Mercedes dealership lot. You'll see instant depreciation by about 20-30% and with that number dropping. I tend to stick to watches that have dipped and are on their way back up trending towards the apex of the curve. Of course all this is subjective, and if buying a watch was strictly logical rather than emotional we'd all be wearing a Quartz Timex. So buy the watch you want, but buy smart.  Why Vintage?

The first question is why buy a beat up, old watch when I can get something shiny and new that has a warranty? The answer is because the sports watches made by Rolex / Omega / Tudor back in the 60's and 70's were tool watches. They weren't covered in diamonds or made in ridiculous sizes. They were purpose built for a task for an aviator, a diver, a race car driver etc. These were the modern day equivalent to an App on a phone.   They were sold for a few hundred dollars and today range anywhere between $3000 - $1,000.000. 

History

What really attracts me to these vintage watches is that they don't stand out. They aren't #blingbling. They fly under the radar for 99% of the population...but the 1% that get it are part of a rare club. They appreciate the intrinsic beauty of an aged piece that has accumulated the patina of scratches, time, and history. Each one of these pieces were procured likely as part of a moment of celebration, success, recognition etc. They've likely traveled the globe and been a part of wars / moon landings / etc. 

Exclusivity

The fact that you can't walk into a Rolex Store and be able to buy a Gilt 5513 Submariner is reason enough to take a closer look at vintage. Anyone can walk into a store and buy the latest Submariner, but if you wanted to find the perfect 5513 sub, it's not enough to just be able to afford it. You have to be a treasure hunter and search for it. You have to have done your research, and make sure the parts are genuine... that the lcase has not been overpolished, or the dials from a different year sub. You will wear a piece that you alone the lengths you went to find that specific watch back in time. 

Hardware

Most Vintage subs happen to have a Domed Plastic Crystal vs. the modern Sapphire Crystal. The difference here really is the depth that the plastic crystal provides. 

Next the bracelets and watches weigh much lighter than their heavier modern counterpart. 

Age and Time

Rolex back in the 50's-70's had a  lot of variations of dials within a given family of watches say Submariner's. Some serial ranges of sub's dials were manufactured by other companies and even though Rolex specified for example "black dial, white letters, xyz font" the manufacturers had a bit of liberty and not all their tolerances were the same. As a result some had used red font for "submariner" or used different paint compounds to produce the color Rolex was looking for. Over the years with exposure to moisture and UV rays and father time, dials began fading to a matte finish, or spider cracking , or turning "tropical" (brown). The fact is, your vintage rolex is a living artifact that will continue to change. The lumes will age more yellow or even orange over time but depending on the year and serial range of that specific model. You can almost compare it to a fine wine, that gets better over time. 

An extreme example of a tropical submariner with a faded "ghost" insert and gilt chapter ring dial. This watch was worn by a farmer near the equator for a number of decades.

Another example "double red sea dweller" (2 lines of red text) 

Here is a Gilt Sub (gold text)

Investment

Depending on the vintage rolex piece you pick up and obviously the price you pay, they will 99% be a better investment than modern watches. There is a finite supply and everyday more and more enthusiasts and aficionado's join the club in search of these grail pieces. In the past few years, 5513 sub's have appreciated at a 20% YOY return. Gilt Sub's have seen close to 30% YOY growth. These numbers are all dependent on supply and demand and as time goes on the pieces are being stored by collectors and horded which subsequently has caused prices to increase at these levels . I like to think a safe estimate is a 10% appreciation YOY for the right subs.

Price

Avg $2500-$3500+ : Omega Speedmaster

Your best bet here is to look outside Rolex / Tudor at the more undervalued watch currently which is the Omega Speedmaster. This is an iconic watch that was selected by NASA to be the official watch of the moon landing. There are many versions and variations but you want to stick to the 40mm version as they make a reduced 38mm watch (perfect gf/wife watch) Take a look below at these pieces below

Avg $4000-$6000+: Tudor Snowflake (94110)

This price bracket opens up your options a bit more. The Tudor snowflake is a great option that shares a lot of parts from the Rolex Submariner. This was marketed as the more accessible Rolex, differing mostly in the movement and dial. The markers and plots / hands on the Tudor are unique to the land and are nicknamed the "Snowflake" 

Avg $5500-$7000: Rolex 1675 GMT 

Another iconic watch from Rolex that has usually a two tone insert Pepsi (red/blue) Coke (red/black) Blueberry (all blue) Black etc. These colors fade into wonderful pastel shades that really show off the vintage look and feel of this iconic aviator watch. 

Avg $6,000-$8,000: Rolex 5513 Submariner 

The 5513 Submariner is probably the most recognizable watch in the world. A vintage piece sets this Rolex apart from most of the modern watches due to the lack of a date wheel / cyclops / and obviously the plastic domed crystal. These examples range greatly in price due to eveness of the patina / gilt/non gilt / maxi-dial / etc... but average prices here range in the $6k-$8k. 

I can go on and on and I am ommiting other great choices like the Explorer 1 / Datejust / Explorer 2's / Sea Dweller's. This will have to be for another post.

Wait for Part 2 as we continue this topic

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