TOP: 18-karat rose gold 1940s Vacheron Constantin wristwatch. Bottom: 18-karat gold Universal Geneve 1940s retro watch.

“We do market research and test our concepts with consumers before we introduce a new model, as we did with the women’s Twenty~4®,” Edelman explains. “In an earlier era, our watchmakers created designs independently in our workshops without a thought to market research or trends. In a sense that makes the older pieces even more interesting. It’s like finding a work of art that, more often, nobody else will own.”

GUBELIN 1940s cocktail watch set with diamonds and sapphires.

Many of the early designs inspired some of the most popular watches today. Cartier recently copied Jaeger LeCoultre’s 1950s gold mesh bracelet style with a small circular watch dial, Faber notes. Vacheron Constantin reinterpreted its own popular Art Nouveau style in its Egérie collection, which features a sculptural gold Tonneau case with a gently rippled guilloche pattern and diamond accents.

“The irony is that you can buy the original for less money than the copy,” Faber says. Cartier’s gold and diamond bracelet watches today start at $20,000; a similar style from the 1950s and 1960s is on average 50 percent less. There are some exceptions, such as a beautifully designed Art Deco gold and diamond Cartier model, which could sell for as much as $40,000. Similarly, Patek Philippe’s gold watches currently retail between $12,000 and $20,000, whereas a comparable version from the 1940s and 1950s will cost between $3,000 and $8,000.

Vintage Values
When building a women’s vintage watch collection, Faber recommends that the style be considered first and foremost. In contrast, he suggests male collectors first consider brand, metal, condition, complications and, lastly, style.

VALUE JUDGMENT Long overshadowed by more expensive and sought-after men’s watches, vintage women’s timepieces—particularly those from the Art Deco era—are becoming the next big thing in the collector market. With their often-stunning designs and potential for appreciation, models from renowned watchmakers such as Vacheron Constantin, Jaeger LeCoultre and Patek Philippe can make valuable additions to our collections.

The watch material—the metal and gems—is less important in a woman’s model. Watchmakers once opted for style over status by mixing metals, and even incorporating synthetic gemstones. Some of the earlier watchmakers, for instance, opted for fake sapphires and rubies over genuine jewels to capture precise colors.

At the top of Faber’s collectible list are diamond watches from the 1930s through the 1950s, which he favors for their classically elegant styling and exceptional value. In a modern diamond watch, he says, a consumer should expect to pay approximately $5,000 per carat of diamonds. Comparatively, in a vintage timepiece, a consumer is likely to pay roughly $1,000 per carat of diamonds for similar quality.

Stylish, period gold bracelet watches are another example of unusual design and good value. According to Faber, consumers can expect to pay about $15,000 more for a gold bracelet watch versus a leather strap today. However, his gold bracelet vintage models generally command less than $10,000. For example, a 1950s Vacheron Constantin chunky gold bracelet watch is $9,000, and a 1950s Rolex gold and diamond bangle watch is just $6,500.

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.