“Forgotten” luxury watches are worth $ 56 billion

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A new report estimates that more than $ 56 billion was lost in what are described as “forgotten” luxury watches.

The 2021 report explains how there are hundreds of thousands of discarded and neglected watches around the world, some of which could turn into hidden gold mines.

With that in mind, Luxe Watches, one of Britain’s leading independent used watch retailers, has put together a list of eight things to watch out for to identify one of these hidden gems.

Here’s what the retailer had to say:

Is my watch antique or vintage?

Vintages are typically around 30 years or older, have collector or novelty value, and some sort of cultural significance.

Antiquity refers to items over 100 years old, and for watches will usually indicate pocket variety.

Can he tell the time?

Collectors want vintage watches for prestige versus functionality, but working condition can massively alter value.

Check to see if you can hear the ticking. If it has a smooth metal ring, it means it is still in working order. If you hear a squeak, it could unfortunately mean it is nearing its end.

Can you find the serial number?

The serial number says a lot about a watch and can be found on the caseback, inside the mechanism, or between the lugs if it’s a Rolex.

Who is the manufacturer?

Even if your watch looks old, it can still be made by a big brand. It doesn’t matter whether you recognize it or not, but you could – Omega has been making watches for almost 200 years.

Here are some names to look for: Audemars Piguet, Breguet, Blancpain, Patek Philippe, Rolex, Breitling, Vacheron Constantin.

What kind is it?

The type of watch can say a lot about its value, whether it is an antique winding or jeweled pocket watch.

If it’s stainless steel or solid gold, you could be a winner. Typically, an elaborate design on vintage pocket watches is a great indicator of value.

What is it made of?

If it’s stainless steel or solid gold, you could be a winner. Typically, an elaborate design on vintage pocket watches is a great indicator of value.

Does he have extra weight?

Heavier watches could mean that there is gold or other valuable characteristics.

Do you have the papers on hand?

Also known as provenance, an ownership record of origin, owner history, and authenticity can add additional 0s to the value.

Having the manufacturer’s basic proof alone is huge, but if your watch was owned by a famous person, it could lead to a huge windfall.

A big part is not to go the sales route alone. Many people put astronomical prices on things that are not worth a fraction of it, while others ignore family heirlooms and lose a huge amount of money.

To sell your watch through Luxe Watches click HERE.


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