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| Passion Investments: Watches |
Fashionably Late
Jill Newman
12/01/2004
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Throughout the Art Deco period, preeminent Swiss watchmakers and French
jewelers created extraordinary watch designs. In the collector market, men’s
models from this era have gone on to command record-breaking auction prices,
while the women’s—which rivaled and sometimes surpassed men’s in creativity—have
hardly garnered a price worth their weight in gold.
 |  | | TOP: 18-karat rose gold 1940s Vacheron Constantin wristwatch. Bottom: 18-karat gold
Universal Geneve 1940s retro watch. |
However, the
traditionally dormant women’s category is suddenly stirring. Industry experts
are eyeing women’s vintage timepieces, especially from high-profile brands
including Patek Philippe, Rolex and Vacheron Constantin, as the next hot
collectible. Anyone with a penchant for artistic period design and craftsmanship
and an appreciation for quality timepieces will probably agree. “Women’s vintage
watches have great potential,” says Osvaldo Patrizzi, chairman of Antiquorum, a
high-profile international watch auctioneer based in Geneva. He admits that
though there are only a few women collectors today, “In the next six to 12
months, we will start to see a growing interest in women’s
watches.”
Industry veterans recall a time when men’s vintage watches
were an undeveloped category, and hope that the same factors which ultimately
led to their value transformation will drive women’s watches as well. “There was
a time 20 years ago when men’s vintage watches was a sleepy category and
commanded very little attention at auction,” says Hank Edelman, president of
Patek Philippe USA in New York. “Over the years, as the luxury brands educated
consumers about their heritage and craftsmanship, more men grew interested in
vintage watches.”
Edelman expects women’s watches will follow a similar
pattern. “Right now, the auction houses don’t find women’s watches as lucrative
as men’s, and they’re not actively marketing to women,” he says. “It’s an
untapped market that people are ignoring. It’s just a matter of time—and
marketing—before women start wanting vintage models.”
Timeless Style
Several factors give credence to Edelman’s theory. Luxury watchmakers are developing more sophisticated women’s timepieces, including
complicated models, and are educating women about high-profile brands and
craftsmanship. What’s more, successful women are increasingly self-purchasing
their watches and jewels, and in doing so are looking for ways to individualize
their styles. A vintage watch is a statement piece that we will probably not see
on others. Finally, vintage jewelry has become a hot commodity; women are
collecting and flaunting fashionable period jewels, making it more acceptable to
go retro.
Watch expert and retailer Edward Faber expresses it more simply:
“The most creative, stylish and outrageous women’s watches are period pieces.”
His 30-year-old Aaron Faber Gallery in New York offers a wide selection of
period women’s and men’s watches from high-status brands, including Vacheron
Constantin, Rolex, Jaeger LeCoultre and Patek Philippe, as well as lesser-known
names that portray incredible style and creativity. “A vintage watch speaks more
about personality than status,” Faber maintains. “A wo-man can express elegance
with an Art Deco diamond evening watch or show an edgy side with a 1950s bold,
gold design.” Among his selection of unusual pieces is a custom 1960s watch by
the renowned British jeweler, Graff. It is a dual time-zone model with a bicolor
wooden face divided by a line of diamonds on a slim 18-karat gold bracelet.
Another standout is a 1920s unsigned golden carved watchcase with colorful
enamel detail on a grosgrain ribbon strap.
“It’s an untapped market that people are ignoring. It’s just a matter
of time—and marketing—before
women start wanting vintage models.” |
Watch-design creativity thrived
during the first half of the 20th century when the business dynamic was vastly
different than it is today. “Back then,” Faber notes, “there were many smaller
watch and jewelry houses that made some outrageous pieces for a small audience;
they didn’t have to answer to a board of directors.” Even Patek Philippe
experimented more freely at that time by creating new designs in small
quantities. Today, the stakes are much higher. With widespread consolidation of
luxury watch brands, watch companies tend to play it safe in order to appeal to
a worldwide audience.
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