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| Passion Investments: Watches |
Fashionably Late
Jill Newman
12/01/2004
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Timepieces with unusual characteristics
such as dual dials, stop-watch function, unusual case shapes and enamel work
make good investments, as do those by dominant brands such as Patek Philippe, Rolex, Cartier and Vacheron Constantin. Antiquorum’s Patrizzo considers
timepieces from the 1920s and 1930s, when Art Deco flourished, to be the most
desirable from an investment perspective. “The Art Deco period created the most
beautiful watches and jewelry,” says Patrizzo, whose wife is a collector of
timepieces from that era.
According to Patrizzo, Asian women are currently
the biggest collectors of Art Deco watches, which they cherish for the petite
scale of the wristwatch and design aesthetic. “Asians do not typically like
pre-owned jewelry and watches because they believe the spirit is ever-present,”
Patrizzo says. “But, they are willing to overlook that when it comes to Art Deco
watches.”
 | | HAMILTON PLATINUM and diamond watch, ca. 1930s. |
A Matter of Time
Several major watch houses, including Patek Philippe and
Cartier, are finding an increasing interest from both men and women who want to
authenticate their vintage timepieces for personal assurance or insurance
purposes. These companies, at a cost, will provide a pedigree of their watch
that certifies its authenticity.
Those of us interested in building a
collection, or perhaps selling our heirlooms, should seek a certificate of
authenticity for our own protection and to ensure that we are buying or selling
for the best price. Ofttimes, older watches have been altered over the years to
satisfy a woman’s personal taste, but any modification of an original model will
lower its value. However, dealers such as Faber can frequently restore watches
to their original state using vintage parts.
While many people are bullish on
the prospects of women’s vintage watches, there are skeptics. Bernard Bieger,
assistant director of the watch department at Antiquorum in New York, has
witnessed beautiful watches from preeminent houses that have not reached their conservatively estimated value on the auction block. “These watches are not
fashionable today,” he argues. “Most young women want big watches today, and
they are even buying men’s models. The older watches are small and hard to read.
I meet clients who love them, but ultimately don’t buy them because they can’t
read the time.” However, he concedes, “Women always want new and different, and
that’s what keeps fashion going.”
Edelman counters that in an era of
brand-name consumerism, women are starting to find a new appreciation for the
designs of an earlier era, when style overrode status. “Every decade,” he says,
“offers something unusual in women’s watches. When it comes to women, it’s a
matter of personal taste and style more than anything.” He points to the
delicate diamond watches on silk ribbons from the 1920s and geometric cases on
cord or moiré straps from the 1930s and 1940s as popular themes. “Trends come
and go,” he continues. “Currently large watches are in demand, but it will go
back to small again. It’s a matter of time.”
Photographs courtesy of Aaron Faber Gallery.
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