Collecting - Vintage Value Equation (1)
WORLDTEMPUS - 2 August 2012
Every vintage watch is different. Accordingly, a collector determining the value of each vintage wristwatch comes down to putting values into an equation. And, ultimately, each watch has its own value equation. Knowing how to quantify and calculate the variables in the equation is equal parts experience, education, astuteness, and power of observation. While there is no substitute for experience, there are resources that can speed up the learning curve: an expansive collector's library, bookmarking the best websites, and - frankly - buying and selling as many wristwatches as you can responsibly afford.
As I explained to my wife many years ago (I don't think she believed me, but it's true), "Every time I buy and own a watch, I learn about the watch and learn from the transaction." Don't underestimate the learning also garnered when a watch is sold. You quickly learn which brands and models are the best to collect (which also equates to investing in), and which watches are better left to looking at pictures of.
The first order of magnitude, in establishing the value of a vintage watch is authenticity. While a counterfeit watch has value in the sense that it may (or may not) keep time and may look nice, we are talking pennies on the dollar (and sometimes much less) in terms of comparing the value of a counterfeit watch to its authentic counterpart. Our starting presumption and the first step in the evaluation of any wristwatch must be: is this watch authentic?
For the beginning collector, this is easier said than done. If you are going to be buying most of your watches from an established watch dealer, you can piggy-back on his or her experience and trust that you are purchasing authentic watches. Any dealer worth doing business with will guarantee the authenticity of any and all watches and will put that pledge in writing and offer a lifetime money-back guarantee should a watch turn out to be less than 100 percent authentic. Buying from established dealers allows you to safely spend your money and learn from each watch that you buy. Obviously, the dealer works on a profit, and buying from him or her may mean you are paying more than if you venture out into the wild by yourself. However, in my opinion, the extra layers of protection are worth the premium.
This is where spending big on a watch library before you start spending big on watches will really pay off. There are numerous watch books available, all of which are illustrated with pictures. From coffee table books, magazines and watch annuals to auction catalogs and collector's value guides, each and every book will advance your education. Many of the Italian collector's books are excellent (and expensive, but worth every penny). There are Japanese books and magazines usually focused on Rolex watches that feature amazingly in-depth picture series on the various models and their iterations over time. The Antiquorum auction house offers many, also available on Amazon and eBay. Unfortunately, many of the best books are now out of print. However, my advice is to spend liberally on books. Even after you are an experienced collector, you will find yourself referring again and again to your library. I know I do, every day.
Democratization of information is the essence of the Internet. There is no limit to the amount of learning one can achieve online. Antiquorum's online database of auction results is an educational goldmine. You can study the pictures of watches - each picture can be clicked on to open up a high definition image - and find out both what the experts on staff predicted the value of each watch would be at auction and what the watch actually sold for. Studying these results over time, one can learn which models do best in terms of value and which characteristics most closely correlate with a watch's value. Timezone is a great resource to spend days immersed in learning and DoubleRedSeaDweller is a magnificent website for Rolex Submariners and SeaDwellers. You should explore all that the Internet has to offer in terms of watch knowledge.
However, there is simply no substitute for experience. You should strive to see as many watches as possible "in the metal." Holding watches in your hands, studying them under a loupe, feeling their weight, winding them, playing with their crowns and chronograph buttons, putting them on your wrist, and noticing every last detail is the surest way to know immediately if a watch is authentic and if it is not.
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COLLECTING - Vintage Value Equation (2)
COLLECTING - Vintage Value Equation (3)
COLLECTING - Vintage Value Equation (4)
Rolex - Rolex Awards for Enterprise
Revue FH - 5 July 2012
The 2012 Rolex Awards for Enterprise aroused keen interest. Indeed around 3,500 names were put forward - more than double that of recent editions - originating from 154 different countries (126 at the last edition). The average age of participants was down from 46 to 41. The percentage of women meanwhile rose from 23 to 28%, a record high.
Members of the interdisciplinary jury, which included renowned scientists, explorers, environmental campaigners, doctors, educationalists and entrepreneurs, made their selection as follows:
Sergei Bereznuk (51), Russia
The Russian Far East is home to 95 per cent of the remaining population of the Amur, the biggest of the world's tigers (also known as the Siberian tiger), which weighs on average 200 kg. Today, an estimated 350 to 500 of this subspecies (Panthera tigris altaica) roam the frontier region bordering China and the Sea of Japan. Although sustained conservation efforts over recent years have moved the Amur tigers from «critically endangered» to «endangered» on the International Union for Conservation of Nature's Red List, they still remain at risk - mainly due to poaching.
For the past 17 years, Sergei Bereznuk, a staunch Russian conservationist and ecologist, has been working valiantly to save the Amur tiger. Based on his experience since 1995 with a tiger anti-poaching brigade in the Primorsky Krai, the Russian Far East province commonly known as Primorye, Bereznuk is convinced that saving the Amur tiger depends on both the efficiency of anti-poaching measures and the education of the local people, two elements at the core of his Rolex Awardwinning project. Moreover, he considers the Amur tiger as a powerful driver for the general conservation of its ecosystem, the taiga forest.
As director of the Phoenix Fund, a small, environmental NGO that he has headed for 12 years, Bereznuk and his team of six people are carrying out an impressive range of activities to preserve the Amur tiger over a territory of 166,000 km2. These include support of anti-poaching units, awareness-raising among local people, reversing habitat reduction due to fires and logging and resolution of humananimal conflicts, along with providing compensation for damage and monitoring invasive industrial projects in the region.
Barbara Block (54), United States
Large marine predators such as sharks and tunas are essential to maintaining the delicate balance of our ocean ecosystems, but overfishing, habitat destruction and pollution have caused reductions of populations worldwide. Measures advocated by scientists to reverse this decline include the creation of large marine protected areas in the open ocean that preserve feeding and breeding grounds. A major challenge has been to identify the best locations for these sanctuaries, since these species are highly migratory and difficult to follow.
Barbara Block, a professor of marine biology, has developed innovative electronic tagging techniques that enable following fish beneath the sea. In the late 1990s, she helped develop the first pop-up satellite archival tag, a device that detaches itself from the fish on a pre-programmed date and floats to the surface of the sea where it transmits archived data via satellite.
Block's aim is to build the technology that will enable monitoring of these ocean hotspots and to engage the public on the plight of marine predators that roam along the west coast of North America - a crucial prelude to their conservation.
Her team conducts «conservation oceanography» incorporating the latest advances in sensor technology, ocean observing systems and computational methods to provide resource managers and policy-makers with data on the sustainability of both exploited and protected marine predators.
Erika Cuellard (40), Bolivia
The largest of Bolivia's national parks, the Kaa-Iya del Gran Chaco, boasts the unlikely combination of South America's hottest, driest weather and 70 species of large mammals, including jaguars, pumas and giant armadillos, living in the largest protected tropical dry forest in the world. This harsh and inhospitable environment has been the workplace of Erika Cuellar for more than a decade. The scientist has spearheaded participatory conservation with the indigenous Guaraní people who live on the boundaries of the park. She has worked towards improving grassland management and local capacity building by training local people to take ownership of the conservation of their habitat.
Encouraged by her successes in the national park, Cuellar's sights are now set on the wider Gran Chaco region, which spans parts of Bolivia, Brazil, Paraguay and Argentina. The Gran Chaco counts a variety of indigenous tribes, nomadic hunters, gatherers, fishing communities, farmers and cattle ranchers as its human inhabitants. The forests and scrublands are also home to 3,400 plant species, 500 bird and 150 mammal species, many of which are unique to the region.
But for more than a century, the Gran Chaco's natural wealth has been systematically eroded. A notable casualty of these man-made factors has been the guanaco, the wild ancestor of domesticated llamas. In 2007, to help protect this species and its habitat, Cuellar devised a course to train members of three ethnic groups native to the Gran Chaco (Guaraní, Ayoreode and Chiquitano) as parabiologists. As native inhabitants, parabiologists are also an influential means of conveying the value of conservation to indigenous communities. Cuellar now wants to extend her approach in Argentina and Paraguay and formalize the model to make conservation a viable long-term local employment option.
Mark Kendall (40), Australia
Mark Kendall is developing an inexpensive and highly efficient way to reduce the annual death toll of millions of people worldwide from infectious diseases. Many of these fatalities can be prevented by vaccines, but the traditional syringe-and needle method - invented in 1853 - is holding vaccines back. First, this method injects vaccine into muscle, which has few immune cells, missing our immune «sweet spot». It is expensive and presents numerous difficulties - with vaccines requiring refrigeration in many countries where electricity supplies are uncertain.
With the «Nanopatch» that Professor Kendall is developing at a cutting-edge bio-engineering research institute at the University of Queensland, in Australia, a host of problems linked to the traditional needle and syringe will be swept away. The syringe-free method developed by Kendall uses an applicator which propels the Nanopatch and its microprojections - painlessly - onto a superficial layer of the skin where target immune cells are most numerous. The process does not draw blood, so the risk of infection is greatly reduced.
The Nanopatch is coated with dry vaccine, so no refrigeration is required. This, together with lower vaccine doses, drastically reduces all costs, including transport. In the long term, Nanopatches could probably be administered by community workers or teachers, thus avoiding the need for medical staff to be present.
Aggrey Otieno (34), Kenya
Korogocho, Nairobi's fourth-largest slum, is home to an estimated 200,000 people in an area of only 1.5 km2, which is troubled by widespread insecurity, substandard sanitation and deep poverty. An estimated 300 women experience postpartum haemorrhage and 200 newborn babies die there every year due to the lack of obstetric medical facilities and a means of getting to hospital, as well as the fact that the local birth attendants need assistance during emergencies. In Korogocho, the maternal mortality ratio is roughly 700 women out of 100,000, compared with 13 out of 100,000 in the United States.
After studying in the United States, Aggrey Otieno returned to the slum, his birthplace, to improve the health of his community by empowering its people. With his knowledge of the area, Otieno, who has gained a well-deserved reputation as a valiant champion of the poor and vulnerable residents of Korogocho, is well placed to drive forward his project to build a telemedicine centre with a 24- hour, on-call doctor and van, thereby helping to prevent many deaths.
Under the auspices of the non-profit organization Pambazuko Mashinani - of which he is founder and executive director - Otieno will use his Rolex Award funds to train birth attendants to recognize when complications are occurring so that they can alert staff at the centre by text message when an emergency arises. These qualified workers and doctors will give instant medical advice and, if needed, dispatch a van to transport the woman to hospital.
Rolex - Handy Complication
Worldtempus - 11 March 2012
Undoubtedly, the Sky-Dweller is Rolex's showstopper for this year. It is not only a totally unexpected new model - since everyone was expecting a new Daytona, as that model was introduced 50 years ago - but also sports a brand new complication, the first in 60 years: an annual calendar.
When Rolex introduced the Yacht-Master II in 2007, this model with its regatta-dedicated countdown was as far as the famed Swiss watch company had gone in terms of mechanical complications. With the Sky-Dweller launch, however, Rolex shows that it can do so much more than the well-known - and highly respected - Yacht-Master, GMT and Daytona in terms of complications. With the Sky-Dweller, Rolex clearly shows that the company can be a horological powerhouse. When it wants to.
Surprised?
Why do we even act surprised? We already saw complicated Rolex models with calendar functions and moon phase indicator back in the 1940s and '50s. But that was then, and this is now. And even now, the Sky-Dweller is a strikingly different approach to the rather conservative modern horology that Rolex has made its signature element - particularly in comparison to pretty much all of its ticking colleagues.
Unique model
Sky-Dweller, sporting 380 movement parts and no less than 14 patents in the all-new Caliber 9001 movement, of which five are completely new, is a perfect timepiece for the frequent traveler. It offers both a home and a second time zone via the off-centered disc display as well as a rather unique annual calendar. Unique for Rolex, that is.
The annual calendar makes the automatic change to the first of the next month at the end of months with 30 and 31 days, which means that you only have to change the date manually on February 28 (or 29 during leap years). But how does the movement know what month it is? Simple: since a year has twelve months, Rolex cleverly decided to indicate the current month on the circumference of the dial using a perforated window. For instance, this month (March) has a blackened window at the 3 o'clock position. So simple, and just the way Rolex likes it. Simplicity certainly seems to be the credo of the brand, no matter what the complication is.
Ring command
The functions of the Rolex Sky-Dweller are set by the so-called rotating Ring Command bezel. By turning it, you can set second time zone, date or time when the crown is unscrewed.
The design of the inner 24-hour dial ring has been actively discussed around the globe since the beginning of the fair. Not surprisingly, a lot of negative emotion has been expressed. This is undoubtedly due to the rather unconventional design - something that Rolex lovers are not at all used to. But in terms of being a tool watch, Rolex again proves to be a true champion.
This new 42 mm model, offered in white and yellow gold on a bracelet as well as Everose (rose) gold on a strap, clearly illustrates the (for many surprising) ability of probably the best watch company in the world. Rolex is finally blowing its Swiss alphorn, indicating that we should never take Rolex for granted.
The Rolex Sky-Dweller is offered at an entry price of approximately 31,200 euros (Everose on strap).
[Rating: 5 / 5 stars]
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