Two thousand nine was an astonishing year in the watch market and has resulted in our collectors’ market being permanently affected. Gold reaching $1000.00 per ounce brought well deserved interest to American gold watches. Unfortunately, you can also be sure that tens of thousand were melted solely for their gold weight. This effectively reduces the number of remaining gold watches and makes the remaining ones more rare and much more desirable.
The same must be said about the extraordinary climb in the platinum market. It is sad but true that many wonderful platinum watches were scrapped expressly for their metal value.
Common U.S. and foreign watches, priced at fair market value, had a fairly active year. The U.S. Railroad watch held steady with an upswing in higher jeweled and scarcer models.
Good and rare character watches have all but disappeared. When one does surface, it sells immediately.
Early verge and foreign complicated pockets set new world records every time they see auction (and that rarely occurs).
Wonderful, high condition watches are commanding record prices “and, folks, this is just the beginning”!
The wrist watch market has had its ups and very few downs. Virtually all wrist watches have increased in value. The only down has been the slow sales of the 1930s and 1940s rectangular gold-filled models. This excludes better models such as Hamilton, Gruen, Illinois, LeCoultre, etc.
The better quality wrist watches, such as Patek Philippe, Vacheron & Constantin, Audemars Piguet and others, have increased substantially. All makes of chronograph wrist watches continue to be sought after and command increased prices.
Omegamania has helped the Omega market immensely. The auction, held in April of 2007, reached levels which no one believed possible.
As we stated a few years ago, China has begun to make a very healthy injection into the watch market. All beautiful enamels and exceptional rarities have gone to new personal levels. Other far-eastern countries, along with India and Russia, are involved in acquiring substantial quantities of these limited production timepieces.
As I said earlier, “This is just the beginning”. Folks, if you haven’t yet invested in antique timepieces, do in now! Remember, the United States of America still holds a large number of these spectacular pieces in its wealthy hands.