You’ve just found (or inherited) a vintage watch. Now what?

More often than not, when someone contacts me with questions about a watch and opens with some story about how they inherited it, they really just want to determine whether their replica watch could pass for genuine.

In many cases where the watch is genuine, the recipient may have some convoluted historical account of things the watch may or may not have experienced. Often these tales relate to service history. “He never had it serviced!” “He sent it to Switzerland every year to have it looked at.”

For this lucky group, the first few months after finding or inheriting a vintage watch can be exciting and stressful. Important questions surface, like “Does it work?” “ Do I need to have it insured” “What is the current market value?” “How do we compare market value with sentimental value?” “Should I have it serviced?” “Who can service it?” “Are other relatives going to have opinions?”

First of all, the internet may not be the best place to start, because watch forums have scores of “experts” and trolls just waiting for you to come along and feed them.

The best place to start is by looking AT THE WATCH ITSELF. Amazing idea, right? Watch any episode of Antiques Roadshow and you’ll notice that the specialists always start by pointing at what they see (usually with a delightful little wand). I did this with customers at the counter and invariably, as on TV, they looked on in amazement. Don’t be afraid to use a magnifying glass! Things like manufacturer, hallmarks, any visible markings at all, will give you an idea of what you have- but they may be small.

Next, call and make an appointment with a local watchmaker at a reputable shop. Not a pawn shop, not a smoke shop with an LED “Watch Repair” sign in the window. If there are no watchmakers near you, a reputable jeweler may also have some useful input, especially if they sell watches of the same brand. Call ahead and ask to make an appointment. This may save you a trip, and is helpful for a store where vintage watch repair is not part of their business model. They may send it to the manufacturer for an estimate, this will give you an idea of what, if anything, might need attention. Do not feel pressured to accept a service estimate right away. If you have doubts or if it’s too costly, have the watch returned and eat whatever shipping or estimate costs are required. Note that the manufacturer will not provide an appraisal, but maybe an “insurance valuation”. This is often a reflection of the value of similar watch from their current collection, in the unlikely event that your heirloom is lost or destroyed during service.

Once you have a professional look at it, understand that they may not offer an appraisal either. If they do offer appraisals, they may charge a few hundred dollars and it may take some time. Never under any circumstances should you sell a watch to someone who furnishes you with an appraisal or valuation without getting a second or third bid on the watch. Only accept an insurance appraisal from a licensed appraiser, and see if you can be referred to someone who specializes in vintage watches.

If your watchmaker or jeweler gets excited, that may excite you too, but it doesn’t mean the watch is rare or valuable; it may just be interesting to them based on their particular predilections. I happen to love complicated watches like repeaters, funky 60s designs, and high jewelry with a timekeeping feature. They may ask you your intentions for the watch, and this is something that you will need to consider carefully. It is a deeply personal decision and you do not need to act right away! Unless the watch is in a place with lots of moisture, like a flooded basement, it does not have an expiration date. I miss almost every watch I’ve ever sold, and I’ve seen customers watches damaged in service. I would often refer customers with exceptional watches to a major auction house.

If your watch is valuable, you most likely don’t need to purchase a separate policy for the watch. Its appraised value should be included in your policy listing any jewelry or watches, though. It’s also important to photograph all of your watches and jewelry and keep any pertinent records in your fireproof safe.

Where can you sell your watch?

Once you’ve done your research, and the monetary value exceeds sentimental value, you may decide you’d like to sell the watch. Selling directly to a private party buyer will probably net the most profit, but it may be a challenge and take some time. In most cases I would advise that you do not have the watch serviced if you intend to sell it. Finding a buyer in the market for that specific watch at that moment, in that condition, at that price, can be tricky. You can use a marketplace like eBay or Chrono24, but the fees can be high and there are risks. You can sell to a watch dealer or jeweler, but they know the market challenges, they may want to invest in service or evaluation of their own, and they will then hold the risk of selling the watch. That means that if they are interested in your watch they’ll pay cash, but it won’t be full retail. In some cases a jeweler will only give you trade-in credit towards another purchase, and they may set a maximum trade-in value at 30% of the retail price of whatever else you buy. In certain cases if the watch is rare, unique, or very desirable, you can contract through a reputable auction house like Bonhams, Philips, or Sotheby’s. This can be a great method for getting top market rate, but you will pay hefty fees. Quick reminder, though, that with all of these sale options, you will never see the watch again.

But what if you want to keep it?

Great! You can decide if you want to have the watch repaired, or just leave it as-is. Depending on the condition, the brand, and the age of the watch, a factory service may be the best route from an authenticity perspective. More brands are starting to approach vintage repairs with a sympathetic philosophy in terms of maintaining patina and original parts. In my experience people often feel a stronger connection to their loved one through the watch if it’s running, even if they don’t intend to wear it. If the watch is just sitting in a drawer, nonfunctional, it can cause a feeling of anxiety or create a sense of unfinished business. Outside of factory service, I’d recommend finding someone you can trust <ahem> who has experience working on a variety of vintage watches. You may find someone locally, or get a recommendation from a trusted jeweler. Don’t be disappointed if they turn away the job, but do be suspicious if it seems like the price is too low or if they promise it in a very short time period.

If you suddenly find yourself with a vintage watch and would like to know what to do with it, feel free to email me directly: patrick@thespringandbarrel.com. I’d be more than happy to review photos, or even set up a video call to discuss your options.