Vintage watches - The traps to avoid
The vintage watch market has been experiencing a boom over the past few years. With a multiplication in the number of distribution channels for vintage watches, which can now be purchased at auctions, from specialist dealers or on the Internet, the number of scams has increased proportionately. "The vintage watch business is a jungle, especially on the Internet," says Laurent Ponti, a watch dealer who has been established in Geneva for 13 years. It's a jungle from which you can nevertheless emerge unscathed, with a nice watch on your wrist, on one condition: you respect a few basic principles.
Pleasure above all
There is no point trying to make a good investment regardless. Any respectable dealer will advise you to buy something that you like. "We can never guarantee that a watch that a customer buys will increase in value," Laurent Ponti stresses. Taking the time to determine your own needs and desires is also important, according to Vanessa Chicha, co-founder with her husband Fabien of Iconeek, a website with a showroom in Geneva that specialises in second-hand, vintage and modern watches. "Buying a watch just for the sake of it is pointless. There needs to be an impulse, even if it has to be thought out." Aside from legendary collectors' models such as the Rolex Daytona, the Omega Speedmaster, the Audemars Piguet Royal Oak, the Jaeger-LeCoultre Reverso or any Patek Philippe, it is not always easy to navigate your way around a mind-boggling selection of vintage watches. Getting advice from someone in the business, or an expert, is therefore undoubtedly a good idea. "A bit of surfing on the Internet may help you to narrow things down," says Vanessa Chicha, pointing out at the same time that you need to be careful not to be duped by the goods on offer.
The dangers of buying on the Internet
"Before buying a watch, people often say that you need to buy the dealer. In other words, know who you are dealing with." Laurent Ponti advises us to make sure we are well informed about the seller. If he has a storefront, his reputation will often precede him. If it is an online sale, you must be doubly cautious and above all take the time to communicate in detail with the seller. Another misconception that you are bly advised to forget about: that of doing the deal of the century. "There are no good deals on the Internet," Laurent Ponti assures us. In other words, beware of prices that are too tempting to be true. "There are many scams."
Be extra-careful with details
Whether you are buying from a shop or on the Internet, if the seller appears to be a trustworthy person you still need to pay attention to some important elements. Ideally, the watch should come with its original paperwork. This is generally the case for younger watches. For older watches, for which paperwork may have disappeared, we bly recommend that you ask for a valuation. And it is essential to get an invoice from the seller. If the watch is offered for sale by a professional dealer, he will usually check the serial number beforehand. His good relationship with the brands will also allow him to authenticate certain models. But be careful with some details: "Very often dials have been cleaned up," notes Vanessa Chicha. Just changing a single hand could change the watch's value completely. Although collectors may not fall into such traps, the humble watch lover who is drawn in by an attractive price - between 10% and 50% below the cost of a new watch - could very easily have his fingers burned. Keep an eye on the market, take your time and get help… This is the best way to avoid being conned.
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