The Romance of Preowned Luxury Watches

A Practical Guide to the Universe of Timepieces

by Susan Scharfman

The Persistence of Memory by Salvadore Dali

From the 13th century cathedral clocks at St. Paul's in London and Canterbury, to cutting edge watch designs of today, fine luxury timepieces are eternal works of art. Like carefully aged wine, certain classics increase in value over time. There’s a huge market for preowned watches and clocks ranging in price from five and six figures to affordable models for watch lovers or collectors who are still members of the shrinking middle class.
   
Do you secretly covet your friend's high-end timepiece, but can't possibly afford one? That may depend on how you manage your time. With regular savings from your paycheck (assuming you have a paycheck), and dining out a little less each month, anyone can own a luxury preowned man's or lady's  watch. Why are so many of these watches on the market? The capricious way we humans tick. As soon as we get what we want, it’s time for a change. After a certain age, we probably need larger watch faces!

Our Love Affair With Time
Once upon a time I had to have a Rolex. After careful research I found a pristine preowned Oyster Perpetual model and used it for ten years. The watch never aged, but I did. As Norma Desmond says in Sunset Boulevard, “I am big. It’s the pictures that got small.” With regular maintenance of my constant companion, and the original box and papers, I was able to get a good price for it.

Today’s preowned luxury watch market is the largest watch category in the world. Bigger than any of the individual brands like Jaeger-LeCoultre, Omega, Rolex, Cartier, Breitling, Patek Philippe, et al. This market allows for more value to the buyer due to the attractive pricing of preowned timepieces. You can find watches under 5 years old in very good condition for over 50% less than the new model. From vintage collectibles to contemporary classics, the romance and history surrounding the timepiece and its maker are what fascinate collectors. Preowned isn’t "Second Hand Rose." Preowned means somebody owned the watch and traded it for a different or more expensive model. Often the little gem has never been worn.

“Watch On The Rhine”
This World War II movie starred Bette Davis. But Rolex had its debut in the genius of German Rhinelander, Hans Wilsdorf. Legend says Herr Wilsdorf created the famous brand in Switzerland in 1908. By 1926 he’d made the reliable Swiss movement waterproof. One day at dinner, frustrated by not being able to open a mollusk, he got the idea to call his new invention the “Oyster.”

1927 was the moment in time of Charles Lindbergh’s historic flight across the Atlantic when the market-wise Hans Wilsdorf hired swimmer Mercedes Glietze to swim the English Channel with his new waterproof watch. After more than 15 hours in the icy waters the lady and the watch made world headlines. And like Lindbergh, the “Oyster” claimed its place in history.

1927 Rolex Oyster

Louis Cartier created the Tank watch in 1917; it remains a universal favorite among men and women. Like many experts in the supreme art of watchmaking, Patek Philippe preowned watches undergo a strict certification process by master craftspeople. Dating from 1839, the Geneva, Switzerland company was purchased in 1932 by the Stern family that still owns it. Their watches are works of timeless beauty and mechanical perfection frequently seen at prestigious auctions.

Avoiding the Scam
Unless you do the research, you may be scammed online and off. You can buy knockoffs on the streets of New York City, Amsterdam and Mumbai. They will look authentic. But you won't know the difference if you don’t do your homework.

The greatest watch houses in the world came into existence during the 19th century. Most legendary trade names are represented by Tourneau, Inc., a prestigious luxury watch retailer of new and preowned watches established in 1900 and based in the United States.
There are many retailers online and in stores. Thorough research into their history and integrity will give you enough information to make an informed decision while saving time and money. The devil is always in the details.

For example: A Rolex made prior to the mid-1990s will have tiny holes on the sides where the bracelet attaches to the case. From 1995 onward they are called "no holes case" models, a detail that raises the price. Depending on date of manufacture some original models will have the serial number between the lugs. Many people order custom models with pearl faces, diamonds, other precious jewels and expensive add-ons. This is significant because most custom models cannot be warranted. Normally, a factory original will guarantee "no after market parts.” Stretched bracelet links diminish resale value because the watch has to be sent back to the factory for repair. Retain the original box and papers or you’ll lose money on your resale.

Buyer Beware
Before buying any brand, know the watch's functionality—accuracy, age, internal and external conditions and authenticity. Are there any non-authentic components? Obvious externals like blemishes, scratches or a worn out band are negatives. Does it have a service history?

Was the service performed by an authorized service center using genuine parts? Preowned original watches must carry a certified warranty with factory model and serial numbers. In mint condition including the bracelet, it should look pristine when you open the box. Careful investigation can mean the difference between a watch that looks amazing versus one that actually is.

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"To every thing there is a season, and a time to every purpose under heaven…"

A friend of mine owns a magical moon phase grandfather clock with brass dial. Hand crafted from mahogany by his own great grandfather, you can literally vanish into it. A harmonic mathematical masterpiece of celestial bodies and tones, the watch and the watcher are in the present moment while somewhere in time.

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