Some of us are lucky enough to own vintage or luxury watches, perhaps passed down through family over generations or given as gifts.

The sentimental value attached to a watch might make it priceless in your eyes, but how can you tell whether it has real value in today’s markets? Here’s what to consider when estimating the value of your watch.

Brand name

The reputation of the manufacturer impacts the value of a watch. Some brands, such as Rolex, Omega and Patek Philippe, are automatically associated with quality, status and wealth. Regardless of their other characteristics, watches bearing these brands are in high demand and consequently have higher value.

The demand for a specific edition of a watch might also push up its value. For example, limited edition watches created by high-end manufacturers may be very valuable indeed.

Examples of companies famous for expertly crafted watches, produced in small numbers and usually assembled by hand, include:

• Lange & Söhne
  This German watch company focuses on quality and precision. No aspect of manufacturing or assembling the company’s watches is outsourced. Its watches are known for being highly complex and exceptionally well made.
• Breguet
  Breguet was founded in 1775 by a watchmaker in Paris. Since 1976, the company has been run by the world-renowned Swatch Group. The brand has been responsible for a number of technological developments in watchmaking, such as the gong spring for the minute repeater and the single-hand, or “subscription”, watch.
• Patek Philippe
  Known for its craftsmanship, Patek Philippe was founded in 1851. Since then the company’s name has become synonymous with rare, quality watches. The founders, Antoni Patek and Adrien Philippe, were responsible for the development of the perpetual calendar and the split-second hand, among other innovations. Each Patek Philippe watch is assembled by hand.

How it was made

Watches that are produced by hand and in small numbers, especially by well-known watchmakers renowned for expert craftsmanship, are typically more valuable than watches produced in large volumes.

As another rule of thumb, watches with complex mechanisms are worth more than simply designed ones. For example, a Swiss-made watch with tiny, complex mechanisms is worth far more than a battery-operated watch.

Condition

Condition is arguably the most important factor to consider when valuing an old watch. If your watch is in excellent condition and still runs smoothly, it will be more valuable than an antique watch that no longer works.

To ensure that your watch keeps its value, you should have it serviced regularly and keep it in a box when you’re not wearing it.

If you’re thinking of buying a watch yourself, never consider purchasing an “old” watch that looks suspiciously new. Mint-condition antique watches may have been refurbished using new or different mechanisms, and this will significantly reduce their overall value.

Materials

Platinum, rhodium, titanium and gold watches are worth more than those made from stainless steel, simply because these metals are more valuable. Similarly, additions like diamonds or other gems may add value.

Antiques: old versus rare

Rare and collector edition watches will sell for more than watches that are simply old. Unfortunately, some antique watches aren’t worth much even if they’re very old or have interesting histories. They may have greater sentimental than cash value.

Online auctions

Online estimates can give you a good indication of the value of your watch. For example, it’s a good idea to follow auctions on websites such as eBay, to get an idea of what your watch could be worth.

Ultimately though, a particular timepiece is worth only what a buyer is willing to pay for it. Also, it’s difficult to determine the condition of a watch from a photograph alone, making online valuations open to doubt.

Professional valuation

To verify what your watch is really worth, it’s best to have it valued by a professional.

As well as recognising the intrinsic value of the watch’s make and model, the valuer will determine if the watch is genuine and whether it has been altered in any way. For example, the valuer can inspect markings and numbers on the internal mechanisms to determine if the watch is genuine.

If you’ve got a valuable watch, you can unlock its cash value by using it to secure a short-term loan. Contact Lamna for more information on 086 111 2866.