How to Collect Famous Watches
The beauty and thrill of collecting famous watches is that it need not be expensive. A low-priced Bulova is just as famous as an Omega. An expensive Omega doesn't match the high prices of luxury Rolexes but the Omega name is equally famous. Fame is in the eye of the beholder. As an example, ask yourself which of these two men is the more famous actor: Clark Gable or Johnny Depp? Your answer will depend on your taste, your age and other outside influences. The key to successfully acquiring a collection of famous watches is to maintain a narrow focus on what you want. Does this Spark an idea?
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Instructions
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Determine what kind of famous watch appeals to you: vintage or contemporary. Narrow your focus on a specific style by considering what appeals to your heart. Vintage watches are often less expensive, typically smaller on the wrist than new watches and require daily manual winding so they can keep time. They are a window into the past. Contemporary watches are usually larger, may have more "gee-gaws", such as alarms and a stopwatch, and are often more expensive than vintage watches. A 1940s' men's Bulova features an Art Deco dial and an accented gold case. Most consider it to be elegant and understated. A contemporary Omega Speedmaster chronograph tends to exude good taste plus a hint of wealth and conveys the message that the wearer is active.
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Establish a budget. A vintage Bulova may sell for about $250 in 2011 while a contemporary Omega starts at about $2,000. A new Rolex, however, may command $4,000 and up. Famous brands also include Patek Philippe, Vacheron & Constantin, Audemars Piguet, Jaeger-LeCoultre, Longines, Tissot, TAG Heuer, IWC and Breitling.
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Research the vintage and contemporary watch market. Numerous online and offline sources detail the history and value of timepieces. Visit second-hand watch shops and antique stores to find vintage watches and go to authorized dealers to shop for contemporary watches. Monitor online watch stores to research prices and trends and always establish the online seller's credibility before buying. Avoid online auction websites where fakes are common.
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Use a jeweler's loupe or magnifying glass to inspect a potential purchase. Avoid pre-qowned watches that have dented cases, scratched crystals or lose time unless you want to invest twice as much as the purchase price for repairs. Use the loupe to examine the dial for flaws. A light patina across the dial is fine on a vintage watch as it adds to its vintage heritage but contemporary watches should be bright, shiny and flawless.
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Inspect the movement of either vintage or contemporary watches with the loupe. Ask the seller to remove the caseback so you can examine the watch further. Vintage watches have a manual-wind or automatic movement, which is the spring-loaded mechanism that regulates the time. It should be clean, oiled and free of scratches and nicks. In most but not all cases, the watch name is engraved on the bridge.
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Consider purchasing a famous watch that gives you the best of both worlds. Many contemporary watchmakers produce timepieces with vintage styling. Audemars produces new watches with 1930s designs, Minerva prefers old-school movements and pre-1960s styling and Jaeger-LeCoultre offers 1930s Reverso watches. Collecting famous watches is very much a matter of personal taste combined with learning as much as possible about the subject matter.
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Tips & Warnings
Unless you have experience in horology, purchase your watch from a dealer you can speak to in person. He can help you determine the authenticity of a vintage watch and provide you with a warranty on a new one.
Vintage Omegas and Rolex are prime targets of counterfeiters. Purchase with extreme caution.
References
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