In 2014, the most expensive watch in history went to auction, and fetched over 20 million dollars. This 1930’s timepiece designed by Patek Phillippe had over seventy jewels, a perpetual calendar which works for almost two centuries before resetting, and over 920 individual parts. While this is clearly a masterpiece, it begs the question as to what makes a watch valuable as a collectors item. Here is a look at some of the things that make a watch worth something to a collector.
Quality/Complexity
Of all the things that give a watch value, this is the most basic, and in many ways, the most important. Quality of a watch is determined by its ability to last under expected circumstances. Though some quality is expected by certain well-known watchmakers, there are some lesser-known watch brands that have shown surprising quality and have lasted decades to centuries, giving more value to an item that was once discounted. Complexity refers to two different aspects of a watch– the number of moving parts, as well as the number of tasks that a watch performs. While complexity is valued, it is important to note that the best complexity is efficient complexity. Tasks that are done in an overly complicated way may not be as appreciated, as they can lead to expensive and unnecessary maintenance. However, these situations usually detract from quality, and therefore will affect the price in a negative way.
Uniqueness
Another thing that can give a watch value is its uniqueness. This may be because of the design or materials of the watch, or in some cases, the fact that it is one of a very small batch of watches (or one of a kind) by a famed watchmaker. One-off brands by unknown craftsmen often fall into this category, and in these cases their value as a unique item will be based on the watch’s quality and features.
Materials
It goes without saying that a watch that is made with fine metals and gems has a large amount of innate value, despite its condition and the quality of its build. Watches made with untraditional materials can also gain extra value as a collectors item, particularly when it gives the watch a surprising but valuable feature. Watches made in wood bases, for example, may give a rare example of wood from an extinct tree species or a quality of old growth wood that no longer exists.
Provenance/Ownership
Even an inexpensive watch can have added value if it belonged to someone of note. Historical political figures, royalty, authors, actors, actresses and singers are all great examples of people who have added value to a watch just by owning it for some time. This can be one of the biggest ways to add value to an otherwise inexpensive model. Many famous people had modest beginnings, and an old family watch from a poorer family can be worth much more if it was given to that person at the beginning of their fame than a higher quality watch that is one of many later in their life. Sentimentality is worth a lot, and is quite often the thing that gets many collectors started with their first watch.
Backstory
In the same vein, watches with certain stories behind them can add value as well. A watch which is found on a sunken ship or which was a part of an important event (like the countdown for the first space shuttle launch) can become desirable by collectors wanting a piece of a historical event.