Luxury Watch Exchange

Vintage Watches: A Safe Investment in the Current Economic Climate?

2009-05-20T00:42:00.005-04:00

Vintage Watches: A Safe Investment in the Current Economic Climate?

Advice for the Low and Midrange Vintage Watch Collector

Bank bailouts, credit freezes, a falling stock market, and dire predictions of uncertain times ahead force us all to look at where our money is invested and how we can safeguard its falling value.

Vintage and rare luxury watches are among the tangible goods smart investors are turning to in the uncertain economic climate in the United States, Europe and other parts of the world. There are some very good reasons that investors are joining the ranks of luxury watch enthusiasts in bidding on vintage watches in live and on line auctions:

· Watches and timepieces are accepted as works of art that excite a consistent level of interest over time whether as personal items of apparel, as valuable jewelry, as technical working instruments, as antiques or vintage collectibles…or simply as status symbols.

· The interest in vintage watches is international, with enthusiasts and collectors in every part of the world, ready to buy, sell and share each others interests, whether from a design, a technical, or an historical point of view.

· Watches are useful as well as decorative and are easily displayed. You can wear them, showcase them, or simply store them for future resale.

· Watches are timeless. Proper use, care and storage will keep a luxury watch in mint condition, maintaining or appreciating its resale value.

· Watches are easy to transport and store. The small size of watches and personal timepieces makes safe storage easy and accessible to personal use.

· Luxury watches are almost always made of rare metals such as platinum, gold, and silver, and often incorporate diamonds and other jewels in their design, making them a double-edged investment.

In addition to these features, vintage luxury watches also come in every price range. Whether you are looking for a large investment to safeguard funds you’ve managed to extricate from a downward spiraling stock market, or just an Average Joe looking to invest a smaller amount in something safe to put away for a rainy day, vintage watches are a viable investment.

Small Investors Follow the Lead of Big Investors

Sotheby’s 2009 auction calendar includes “important watches” among their usual artworks, antiques and personal estate specialty auctions coming up in this year. Their October 2008 Important Watch auction saw both vintage and modern collection watches selling for very high prices, with the names Rolex, Patek Philippe, and Omega strongly featured. Rare limited editions of modern watches in gold, silver and platinum sold for prices ranging from several thousand dollars to over $350,000. An 1888 historical American Waltham pocket watch sold for $266,500, far over its $50-70,000 estimate.

What Are Economists Saying?

New York Times financial writer Paul Sullivan recently pointed out that this time even the “ultra high net worth” investors failed to anticipate the drastic market downturn and incurred substantial losses along with the usual victims – the average and modest range investors. The advised remedy in the short term is for all investors to go back to the basics and redefine what constitutes a safe investment. Some soul searching and a reassessment of what your personal definition of risk really is would seem to be in order. Then diversify. Look for alternative investments, live within or below your means, and keep some portion of your investment funds in tangible assets which are low-risk, low-return but which retain their value. (NYT Wealth Matters, December 2008)

Advice for the Average Joe Investor

Being relative new compared to the crowd I shake hands with and pass out donuts to at vintage watch trade shows promoting my online luxury watch auction site. I have become more convinced that my personal passion for vintage luxury watches is also a sensible way to safeguard a portion of my savings and enjoy them at the same time.

I consider myself an avid enthusiast and collector but for me a thousand dollars is about the top limit I can afford to invest for a single vintage watch. I am led by my own personal preferences, of course. The price could be $15 in a hock shop or $1,500 at an auction, if the watch doesn’t catch my eye I won’t put it on my wrist. I feel a watch is a reflection of an individual’s personality and style, and I do wear and enjoy my watch collection.

I’m learning more every day about vintage and collection watches, though, and I’m not shy about asking for help. I spoke to a few experts recently to gain some advice for the small or first-time investor.

“Will vintage watches hold their value in today’s economic times?” I recently asked Derek Dier (owner of watchestobuy.com). There has been some softening of the higher end market of watches but Derek feels that presents a great opportunity to buy. A Paul Newman Rolex Daytona, ultra clean with box and papers, would have sold for $85,000 six months ago. Today you can pick one up for $60,000, and Derek believes such a unique timepiece will appreciate from these current values. “What about the models that the average person can afford?” Vintage watches under $500 are steadily selling, as long as they are fully cleaned, restored and in very fine condition. They hold their value as there is a steady increase in new buyers.

Another expert, Ron Geweniger (vintage expert of ewatchshow.com), says there is a price range in which each of us should be shopping. “Don’t spend your entire watch budget on one watch. Own three or four within your budget. This is the same as diversifying your investment portfolio. You might pick a real winner that will double in value in just a few years. The others might just stay around the amount you paid for them.” Ron thinks you shouldn’t look at vintage watches as a way to make money through appreciation but as an investment you can enjoy now that will hold value in the long term and enjoyment is the great thing about investing in vintage watches.

Guidelines, Whether You Buy to Feed Your Passion or Safeguard Your Savings

Don’t go into the purchase of a vintage watch blindly. If you are considering enlarging your current luxury watch collection or purchasing for the first time for investment purposes, there are several things you should consider.

Inform yourself before you buy.

It has never been easier to educate yourself in the fascinating world of vintage watches. Read Chronos magazine, visit a local vintage watch retailer, surf the internet, join the forums and talk to experts and collectors. People love to share their passion with others!

I personally travel to every tradeshow I can afford to go to and my personal friend in the industry, Don Breier, (Patek and vintage expert) knows more about high end Pateks along with other brands than anyone I’ve ever known, and he warns, “Only a few watches will really appreciate. If you’re looking for a vintage watch that will really appreciate in time – look for interesting and complicated specialty features and watches that are rare. “

Choose a niche or specialty. Unless you’re already a watch expert, it’s probably a good idea to specialize in one or a few luxury brands, styles, or eras and learn all you can about them. Otherwise you will just get lost. Vintage watch collecting is an adventure not a destination.
Select a watch repair and service person. Seek out and form a relationship with a professional watchmaker, jeweler, or watch repair expert, someone you can depend for the essential aspects you don't know such as judging the quality and condition of movements, repairs and restoration and other technical aspects.

Search intelligently.

If you’re new to buying, start by canvassing the top jewelers and retail new and pre-used watch stores and gallery showrooms to familiarize yourself with the top luxury brands. You’ll be delighted with what is on offer…and amazed at the prices the top watchmakers command. Check out high-end advertising and find out what the leaders of fashion, industry and style are wearing and collecting.

Evaluate age, rarity, and condition.

Important things to ask when buying a lower priced vintage watch: Is it in good running order? Does it come with original papers or packaging? Has it been refurbished or is it in its original condition? Is the watchmaker, model, or style unique or rare enough to hold or appreciate in value? Beware of rust in or around the movement, deep scratches, or dials damaged by mildew or exposure to sunlight.

Buy from a reliable source.

Of course everybody dreams of discovering a valuable vintage watch in mint condition at the local flea market or garage sale, but situations like they will lead to you buy a fake. More often you should rely on knowing your seller. Reputable dealers will be glad to give you references…and beware of a seller who is not forthcoming with details of his experience and background.

Store and service regularly.

Once you’ve made several purchases, ensure that your watches retain their value by storing them in a closed clean case in a temperature and humidity controlled environment. Vintage watches should also be examined and serviced every five years or so if you are holding them as long term investments. If you wear and enjoy your vintage collection watches you may want to have them serviced more often. Keep accurate service records and dates of purchase and purview details which may enhance the value in the future.

In short, when buying low and mid range vintage watches, take expert advice, do your research, confirm rarity and condition, and buy from a reliable seller.

I personally welcome your feedback and future story ideas. The vintage watch world has so much to offer and learn. Tell me what you would like to hear about at Feedback@LuxuryWatchExchange.com

Mark Evenson, Vintage Watch Editor and founder and owner of the Luxury Watch Exchange (http://luxurywatchexchange.com)

Watch Enthusiasts are leaving eBay for better Online Auction Site

2008-11-07T11:13:00.003-05:00

Years ago, eBay was the only online auction site around and it had huge popularity with watch buyers and seller. After reaching its peak in both buyers and sellers it has, in recent years, been struggling in some areas to retain popularity. Users have been complaining about all the fees of eBay, while they may have been the innovative leader in bringing about online auctions to the masses, many people have opted for newer alternative sites that have perfected it.

“We get a lot of buyers and sellers that were eBay members at one time,” explains Mark Evenson, president of Naples, Fla.-based Luxury Watch Exchange (www.LuxuryWatchExchange.com). “Many people are turning to sites like ours and finding great deals. We cater to the watch enthusiast that expects more than other sites offer.”

What Evenson is referring to are such things as the high insertion fees, listing time lengths, and feedback issues. Unlike eBay, his site never charges for listing an item for sale and while they allow a listing to remain active for only 10 days, he allows auctions to stay active for 30 days and automatically relist 3 times, for free. Charges are only applied after the product is sold, with fees being a fraction of what eBay traditionally charges. One benefit unique to Luxury Watch Exchange is they have designed a program that allows sellers to import the feedback they have earned from using eBay, so that they don’t have to start from scratch building a good reputation.

“This is a win-win situation for everyone,” adds Evenson. “With no front end fees, long listing times, and importing eBay feedback there’s nothing to lose. We cater to the luxury watch market, but this concept works across the board.”

NAWCC Partnership with Luxury Watch Exchange

2008-07-28T13:11:00.003-04:00

NAWCC Partnership with Luxury Watch Exchange

Luxury Watch Exchange is VERY excited to announce our new partnership with the National Association of Watch and Clock Collectors (NAWCC). Luxury Watch Exchange has partnered with the National Association of Watch and Clock Collectors to create a new auction alternative to eBay. It is exciting that finally watch lovers all over the world will have a new low cost auction site to buy and sell timepieces.

Each NAWCC member and all new members will have the option to receive a $65 account credit on Luxury Watch Exchange. This credit will be received when you join or renew your NAWCC membership. During the application for renewing or joining there is a box you check to receive this credit. This allows NAWCC to release your contact information to us. When the NAWCC forwards us your information we will search for you in our database and credit your account.
Example: You have a $65 account credit; you list and sell a $350 timepiece. The final value for the sale is 1% or $3.50, so you now have a positive account balance of $61.50. This account balance will never expire until you use it.

It has always been the goal of Luxury Watch Exchange to bring in the most professional people to gain a market reputation as the place to go for quality sellers. Additionally by have all of these professional sellers on the site, I know that they will help us police this community and enable us to keep our fees low by not having to hire people to monitor listings and scams.

With this partnership the NAWCC and Luxury Watch Exchange will have co-operative efforts to ensure that exchanges between individuals is done in an open and transparent manner.

Press Release "Walk Away from eBay"

2007-11-20T11:40:00.001-05:00

FOR IMMEDIATE RELEASE

“Walking away from eBay”

Buyers and Sellers of Luxury Watches Can Now Take Their Transaction History and Ratings With Them When They Move to The Luxury Watch Exchange, a Unique Watch Auction Website Which Offers Proven Reliability and Dramatically Lower Fees

Contact: Mark Evenson, (owner / founder)
Address: 8805 Tamiami Trail North Suite #186, Naples, Florida 34108
Phone: 239-597-6889
Email: Mark@LuxuryWatchExchange.com
URL: http://http://www.luxurywatchexchange.com/

The exclusive “boutique” auction website http://www.luxurywatchexchange.com/ is making an irresistible bid to attract buyers and sellers away from eBay, Yahoo and the other large public auction sites by offering every advantage the big sites offer plus exclusive niche market features they won’t get anywhere else…and all for much lower fees.

What sets The Luxury Watch Exchange site apart is a unique Import Feedback feature. This enables established sellers (and buyers too) to insert an alphanumerical code into their existing eBay, Yahoo, Amazon or other general auction site profiles and then, go back to their Luxury Watch Exchange profile and ‘import’ their transaction history and ratings, thus adding their prior feedback to their feedback on transactions made through the Luxury Watch Exchange.

This cutting edge technical feature isn’t the only advantage that’s causing established buyers and sellers to leave their current sites and sign on with this hot new auction site.

In the burgeoning and unwieldy world of online auctions it’s refreshing to find an auction site obviously created and operated by experts who clearly love luxury watches and timepieces. Here they’ve created a specific niche auction site to safely indulge their passion…and have undercut the big sites by offering low transaction fees.

Press Release "A New Kind of Auction Site."

2007-11-20T11:30:00.001-05:00

Luxury Watch Collectors Can Now Buy With Confidence on an Exclusive Auction Website

Contact: Mark Evenson, Founder / Owner, 8805 Tamiami Trail North, Naples, Florida 34108
Phone: 239.597.6889
Email: Mark@LuxuryWatchExchange.com
URL: http://http://www.luxurywatchexchange.com/

The Luxury Watch Exchange has launched a new website devoted exclusively to the auction and sale of luxury timepieces; a ‘boutique shop’ which fills a market need for a source where buyers and sellers to meet up in a central low cost marketplace.

Special people admire and collect luxury watches, and when they purchase a mint condition A. Lange & Sohne gold wristwatch or a limited edition Rolex Submariner they are looking for an experience that is more than just an investment or a fashion statement.

Mark Evenson, the founder of the Luxury Watch Exchange and creator of LuxuryWatchExchange.com, understands the distinction between buying a watch and purchasing a luxury timepiece, and he has designed a site especially tailored for serious buyers and sellers alike. Evenson appreciates the needs of collectors and buyers to know beforehand exactly what they’re bidding on and who they will be doing business with before they buy. He also recognizes that buying a luxury timepiece often means a significant investment.

A forums section and several chat rooms allow Sellers and other members to trade information and discuss industry news.

Another feature exclusive to LuxuryWatchExchange.com…and the feature that's going to make this site the hottest on the Internet for already established luxury watch buyers and sellers…is its Import Feedback capability.

This easy-to-use Import Feedback feature enables any site member already doing business on other auction sites (such as eBay, Yahoo, Amazon, Overstock, eBid, etc) to import his account feedback from those sites into his Luxury Watch Exchange account. That means a buyer or seller's good reputation and buy/sell history, which often take years to build, is instantly available on his new Luxury Watch Exchange account feedback.

Since Luxury Watch Exchange fees are so much lower than eBay or the other sites, there's no valid reason not to jump ship and move to the Luxury Watch Exchange.

Another feature which makes LuxuryWatchExchange.com unique is that direct email communication between potential buyers and sellers is facilitated through the site. The Luxury Watch Exchange encourages buyers to ask questions about the watches listed and learn all they can before they bid. When details concerning styles, shipping and warranty are clarified beforehand, buyers can bid with confidence and avoid misunderstandings after the sale.

Visitors and potential buyers are invited to browse this easy-to-navigate site for watches offered in the ongoing auctions or for fixed price sale. However, to place a bid or make a purchase registration with the site is required. There is no obligation or fee for registering, and there are solid benefits to becoming a site member.

A newsletter will be added to inform members of new auctions and special events, and resources and special articles of interest to luxury watch collectors will be featured on the site.

Purchasing a luxury watch through an online auction gallery saves buyers significant amounts over buying from a traditional retail location. LuxuryWatchExchange.com offers that savings plus reliability and peace of mind.