Downsizing? Determined to get rid of stuff no longer needed? Cleaning out a home or an estate? Stop! Know Before You Throw.
Last month, I asked if anyone out there might be interested in letting me peek into his collecting life and share it with my readers. Well, I got a taker, and just in time.
This person’s passion is in wristwatches. I touched on this subject last December when writing about Paul Newman’s Daytona Rolex, which sold at auction for nearly $18 million. That watch was quite special. And the provenance, or ownership and history, certainly added to the value.
To some extent, conventional wristwatches are fading into history. With the advent of smart watches, which give you your pulse, emails and grocery list all on one little 38mm to 42mm screen, single purpose watches are losing some relevancy these days. In spite of that, quality investment-grade watches are still in demand and have proven to increase in value over time.
Some characteristics to look for in collectible watches are those made from stainless steel or gold (versus gold plate), and an internationally recognized manufacturer with longevity. Some of the high-end brands that are collectible and have good resale value are Breitling, Patek Philippe, Omega and Cartier. And we must not forget one of the most recognizable brands the world over, Rolex.
This month’s collector favors Rolex. His Explorer II, in stainless steel, which sold for $3,700 in 1997, now sells new for nearly $8,000. A good condition used example can fetch up to $5,000 or so. His GMT Master II, in stainless steel, with the Coke colored bezel (black and red), really went up in value. While this model Rolex cost a bit more than the Explorer II, it now sells for $8,000 to $10,000. And it’s a used watch.
Thank you so much for sharing your area of collecting with me. Please let me know about your interesting collection, as I would love the opportunity to feature it in an upcoming article. Send me an email at Jon@KnowBeforeYouThrow.INFO, or give me a call at (480) 699-1567 (a landline, so no text). Let me know what’s in your closet. Hopefully, I can feature your collection in the coming months.