Ronny Wooter of Sotheby’s answers your questions

How is the price established for a contemporary watch that is sold a few days after its purchase and before being worn?

Ronny Wooter, head of the Sotheby’s Geneva Watch Department: In the end, it all depends on the brand, the quantity produced and the availability of the model in question. For example, if we take a limited series, it is obvious that the value of the watch will be greater than for a time keeper produced in significant volume and intended for the world market. It is possible for certain models that are sometimes only available via a waiting list at the shop to reach a sum at auction that is close to the retail sales price or which exceeds it but this occurs only in exceptional circumstances. Of course, in many cases, there is a significant difference in the price recorded between the retail price and the price on immediate resale, more than for a car or a brand new item of top quality jewellery. However, the watches that generally achieve the highest prices at auction date from before the Eighties.

How is the value of an “old” watch established, whether restored or not, and what does the term “old” mean?

There too, the quality of the watch and its rarity are the most telling factors. However, it must be realised that the restoring of a time keeper is not an initial necessity. Take an old watch, for example, whose face has become worn with age, with colours that have become dulled or even with slight damage to its surface coating from humidity or rust; restoration is generally not justified since collectors often appreciate the patina of time. The same applies if the case is scratched or has a few lines; polishing is not envisaged as long as the watch has not suffered major damage. The most that may be envisaged is a change of the glass if it is too scratched. The same goes for the movement. Slight restoration might be envisaged if it does not work. But if the balance has suffered major damage it may be wiser not to do anything. As you can see, the value of an old watch also depends on the restoration that has been carried out and on its quality, of course. For a Patek Philippe, for example, restoration work carried out by the manufacturer itself is certainly a guarantee of good work and will contribute to the value of a watch when it is being sold.

With regard to official descriptions; an old or vintage watch refers to models that date before the Eighties. As for antiques, watches are considered to be antiques if they are more than 100 years old.

Pocket watches may carry the signature of Berthoud or Cartier for example. As they carry the names of watchmakers with the same name, they are not forgeries. Does this characteristic give them added value?

It is true that certain watches have illustrious names without having been made by the master himself. For example, some may have been produced in his workshop but are not considered to be of authentic manufacture. In other words, these are time keepers that do not go through auction houses as they are almost assimilated to counterfeit products. They have no particular added value just because they have been sold under a name that has marked the history of watchmaking. ■

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