'Selling My Vintage Watch: A Journey in Time' diff viewer (0/1)

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Selling My Vintage Watch: A Journey in Time	Selling My Vintage Watch: A Journey in Time
2017-02-21 05:15:09 UTC	2017-02-21 21:45:07 UTC (about 17 hours later)
I inherited a Patek Philippe watch from my husband. He had never worn it, it had been his father’s and it wasn’t running: That pretty much sums up what I knew about the timepiece.	I inherited a Patek Philippe watch from my husband. He had never worn it, it had been his father’s and it wasn’t running: That pretty much sums up what I knew about the timepiece.
Except that I knew I wanted to sell it.	Except that I knew I wanted to sell it.
Such a simple idea, but just how do you go about selling a watch?	Such a simple idea, but just how do you go about selling a watch?
Some friends said to sell it on eBay, but I had no idea what kind of Patek Philippe I had, what shape it was in or how much to ask for it. I did know that there were websites, stores and auction houses that sold watches. But which would give me the best price? And did I have to get the watch fixed first?	Some friends said to sell it on eBay, but I had no idea what kind of Patek Philippe I had, what shape it was in or how much to ask for it. I did know that there were websites, stores and auction houses that sold watches. But which would give me the best price? And did I have to get the watch fixed first?
Months ago I took my watch to its birthplace, Patek Philippe’s headquarters in Plan-les-Ouates, Switzerland, to begin getting some answers.	Months ago I took my watch to its birthplace, Patek Philippe’s headquarters in Plan-les-Ouates, Switzerland, to begin getting some answers.
The company authenticated the watch: It was a Calatrava with an unusual roulette, or sector, dial. I was shown a copy of the original papers documenting its initial sale in 1937 in New York. The strap, which was in poor condition, was not original. Then came a series of inspections to determine what would be needed to get it running again.	The company authenticated the watch: It was a Calatrava with an unusual roulette, or sector, dial. I was shown a copy of the original papers documenting its initial sale in 1937 in New York. The strap, which was in poor condition, was not original. Then came a series of inspections to determine what would be needed to get it running again.
The verdict: It was nothing that 11,500 Swiss francs (about $11,460) couldn’t fix.	The verdict: It was nothing that 11,500 Swiss francs (about $11,460) couldn’t fix.
After I regained my composure, I decided to take the timepiece to other vendors for their opinions.	After I regained my composure, I decided to take the timepiece to other vendors for their opinions.
I heard from one after another that if I wanted to keep the watch, I should get it fixed — and fixed by Patek Philippe, using authentic parts, to maintain its value. But if I wanted to sell it, it did not have to be repaired. It seems as if all serious watch collectors have their own personal watchmaker tucked away somewhere in the Swiss mountains to work on new acquisitions.	I heard from one after another that if I wanted to keep the watch, I should get it fixed — and fixed by Patek Philippe, using authentic parts, to maintain its value. But if I wanted to sell it, it did not have to be repaired. It seems as if all serious watch collectors have their own personal watchmaker tucked away somewhere in the Swiss mountains to work on new acquisitions.
Along the way, I learned a lot about selling a timepiece — and some interesting things about watches themselves.	Along the way, I learned a lot about selling a timepiece — and some interesting things about watches themselves.
Having marveled at the five-, six- and even seven-figure watch sales coming out of the famed auction houses, I decided to start at the top. Climbing the narrow cobblestone streets of Geneva’s Old Town, I arrived at the local Christie’s offices. Sabine Kegel, a senior watch specialist, was waiting, loupe in hand.	Having marveled at the five-, six- and even seven-figure watch sales coming out of the famed auction houses, I decided to start at the top. Climbing the narrow cobblestone streets of Geneva’s Old Town, I arrived at the local Christie’s offices. Sabine Kegel, a senior watch specialist, was waiting, loupe in hand.
Ms. Kegel began with the watch’s assets: “It’s a rare sector dial, very unusual, very nice,” she said. And she noted the gold marks on the case. “It’s historically interesting, being in the same family since 1937,” she said.	Ms. Kegel began with the watch’s assets: “It’s a rare sector dial, very unusual, very nice,” she said. And she noted the gold marks on the case. “It’s historically interesting, being in the same family since 1937,” she said.
Then she pointed out the negatives. “It’s small for today,” she said. “Men want bigger watches.” The timepiece had been cleaned at some point, “which softened some of the letters on the dial,” she said. And it was yellow gold; white metals are more popular now.	Then she pointed out the negatives. “It’s small for today,” she said. “Men want bigger watches.” The timepiece had been cleaned at some point, “which softened some of the letters on the dial,” she said. And it was yellow gold; white metals are more popular now.
If I wanted to auction off the watch, Ms. Kegel said, her watchmaker could clean the movement and the case. But “it’s in good condition as it is,” she said. “And it’s running.” This was a surprise to me, as it hadn’t been running before. Perhaps the Patek examination had jostled something: Winding seemed to be all it needed now.	If I wanted to auction off the watch, Ms. Kegel said, her watchmaker could clean the movement and the case. But “it’s in good condition as it is,” she said. “And it’s running.” This was a surprise to me, as it hadn’t been running before. Perhaps the Patek examination had jostled something: Winding seemed to be all it needed now.
She assured me that the cost of the conditioning, which I would have to pay, would be much less than 11,500 francs, but she couldn’t say how much less. Christie’s would pay to replace the worn strap with a Patek Philippe strap. And then the watch would be taken on tour to Dubai, Hong Kong and Taipei (which, she said, are especially good markets for smaller watches) before being auctioned. She estimated that it would fetch 8,000 to 12,000 francs.	She assured me that the cost of the conditioning, which I would have to pay, would be much less than 11,500 francs, but she couldn’t say how much less. Christie’s would pay to replace the worn strap with a Patek Philippe strap. And then the watch would be taken on tour to Dubai, Hong Kong and Taipei (which, she said, are especially good markets for smaller watches) before being auctioned. She estimated that it would fetch 8,000 to 12,000 francs.
But a sale at Christie’s or any other auction house could involve other costs that I’d have to assume, like insurance, catalog photography, customs charges and shipping. And there would be a commission, which is usually 6 percent to 20 percent of the final sale price.	But a sale at Christie’s or any other auction house could involve other costs that I’d have to assume, like insurance, catalog photography, customs charges and shipping. And there would be a commission, which is usually 6 percent to 20 percent of the final sale price.
Christie’s also does not specify a reserve price for watches valued at less than 10,000 francs, Ms. Kegel later told me in an email.	Christie’s also does not specify a reserve price for watches valued at less than 10,000 francs, Ms. Kegel later told me in an email.
Without a guarantee that the watch wouldn’t be sold for less than I thought it was worth, I decided to pass — despite the exciting thought of my little watch touring the world.	Without a guarantee that the watch wouldn’t be sold for less than I thought it was worth, I decided to pass — despite the exciting thought of my little watch touring the world.
I wanted another perspective, so I went down the hill and across the Rhône to meet with Aurel Bacs, founder of Bacs & Russo, a consulting firm that has played a big role in the re-emergence of the watch department at the Phillips auction house in recent years.	I wanted another perspective, so I went down the hill and across the Rhône to meet with Aurel Bacs, founder of Bacs & Russo, a consulting firm that has played a big role in the re-emergence of the watch department at the Phillips auction house in recent years.
He analyzed the timepiece, giving me some historic details I had not known. For example, the dial was made by Stern Frères (“suppliers of the finest dials,” he said), a Geneva company that later bought Patek Philippe. (The Stern family still leads Patek.)	He analyzed the timepiece, giving me some historic details I had not known. For example, the dial was made by Stern Frères (“suppliers of the finest dials,” he said), a Geneva company that later bought Patek Philippe. (The Stern family still leads Patek.)
Mr. Bacs pointed out the “wonderfully crisp” gold mark of the goddess Helvetia on the case. He said that the strap had been made by Kreisler, a 20th-century New York jewelry company known for its leather watch bands.	Mr. Bacs pointed out the “wonderfully crisp” gold mark of the goddess Helvetia on the case. He said that the strap had been made by Kreisler, a 20th-century New York jewelry company known for its leather watch bands.
He took the watch apart, exposing what he called its “beautiful” movement. And he found a tiny scratch, invisible to the naked eye, where, he said, “a watchmaker had used the wrong size implement and it slipped.” He took a photo to show me the damage magnified to 50 times its actual size, but he said the scratch was just part of the watch’s patina and should not be a concern.	He took the watch apart, exposing what he called its “beautiful” movement. And he found a tiny scratch, invisible to the naked eye, where, he said, “a watchmaker had used the wrong size implement and it slipped.” He took a photo to show me the damage magnified to 50 times its actual size, but he said the scratch was just part of the watch’s patina and should not be a concern.
He also spoke of the horrors of having a watch improperly cleaned: “It’s like an 85-year-old movie star who wants to look 25. The original with flaws is better than something over-restored.”	He also spoke of the horrors of having a watch improperly cleaned: “It’s like an 85-year-old movie star who wants to look 25. The original with flaws is better than something over-restored.”
His advice was to leave it as is. “It’s got its charm,” he said, “and there’s someone who will love that lovely roulette dial.” He priced it at 5,000 to 7,000 francs. But, noting that an auction would most likely be a costly undertaking for small gain, he recommended that I look into a private sale.	His advice was to leave it as is. “It’s got its charm,” he said, “and there’s someone who will love that lovely roulette dial.” He priced it at 5,000 to 7,000 francs. But, noting that an auction would most likely be a costly undertaking for small gain, he recommended that I look into a private sale.
A good watch store was starting to seem like a good idea.	A good watch store was starting to seem like a good idea.
Although the Patek Philippe store on the Rue du Rhône does not sell vintage watches, I stopped by to get some insight from the manager, Patrick Cremers.	Although the Patek Philippe store on the Rue du Rhône does not sell vintage watches, I stopped by to get some insight from the manager, Patrick Cremers.
After echoing other opinions — lovely dial, small size — Mr. Cremers made an interesting observation: The buckle was 16 millimeters (about 0.6 inches), too big for the watch. When I replaced the strap, he said, I should get a 14-millimeter buckle, which would be more in proportion. Mr. Cremers said it was unfortunate that I did not have the original box or certificate of origin, which he said could increase the value by as much as 15 percent. “The full package makes the watch’s story more beautiful,” he said.	After echoing other opinions — lovely dial, small size — Mr. Cremers made an interesting observation: The buckle was 16 millimeters (about 0.6 inches), too big for the watch. When I replaced the strap, he said, I should get a 14-millimeter buckle, which would be more in proportion. Mr. Cremers said it was unfortunate that I did not have the original box or certificate of origin, which he said could increase the value by as much as 15 percent. “The full package makes the watch’s story more beautiful,” he said.
In the end, he suggested that I sell the watch online, estimating that I would get 8,000 to 10,000 francs.	In the end, he suggested that I sell the watch online, estimating that I would get 8,000 to 10,000 francs.
I then asked the concierge at the well-known Beau Rivage hotel to recommend a respected multibrand watch boutique, and he suggested La Maison de l’Horlogerie. So I went, unannounced, to the shop on the Rue du Cendrier and spoke with the manager, Alain Guttly.	I then asked the concierge at the well-known Beau Rivage hotel to recommend a respected multibrand watch boutique, and he suggested La Maison de l’Horlogerie. So I went, unannounced, to the shop on the Rue du Cendrier and spoke with the manager, Alain Guttly.
He offered two solutions: The store could sell the watch on consignment or buy it outright for resale. Either way, I would have to order a certificate of authenticity from Patek Philippe at a cost of about 100 francs — no big deal.	He offered two solutions: The store could sell the watch on consignment or buy it outright for resale. Either way, I would have to order a certificate of authenticity from Patek Philippe at a cost of about 100 francs — no big deal.
Then his watchmaker would evaluate the watch, which had been running intermittently in recent days. “Ninety-five percent of our customers want a watch that works properly,” Mr. Guttly said. “We guarantee that the watch works, unlike an auction house.”	Then his watchmaker would evaluate the watch, which had been running intermittently in recent days. “Ninety-five percent of our customers want a watch that works properly,” Mr. Guttly said. “We guarantee that the watch works, unlike an auction house.”
“If it will cost 4,000 francs to repair the watch, we would not be interested,” he said, as he estimated that the watch would sell for 5,000 to 7,000 francs. He recommended that I sell it at auction.	“If it will cost 4,000 francs to repair the watch, we would not be interested,” he said, as he estimated that the watch would sell for 5,000 to 7,000 francs. He recommended that I sell it at auction.
Over coffee at a cafe overlooking the Jet d’Eau fountain, Grégory Gardinetti, historian for the watch industry’s Fondation de la Haute Horlogerie, suggested another sales method: a dedicated forum for Patek collectors.	Over coffee at a cafe overlooking the Jet d’Eau fountain, Grégory Gardinetti, historian for the watch industry’s Fondation de la Haute Horlogerie, suggested another sales method: a dedicated forum for Patek collectors.
“You could find collectors of Calatravas, and your watch might be the missing piece in their collection,” he said. He had sold his old Rolex that way.	“You could find collectors of Calatravas, and your watch might be the missing piece in their collection,” he said. He had sold his old Rolex that way.
But, I pointed out, I’m not a watch expert. I wouldn’t know how to describe or price the watch.	But, I pointed out, I’m not a watch expert. I wouldn’t know how to describe or price the watch.
Mr. Gardinetti then suggested that I sell the watch online: “You’ll get the best price, without a lot of ancillary costs,” he said. He recommended I talk with Iconeek, a new company nearby.	Mr. Gardinetti then suggested that I sell the watch online: “You’ll get the best price, without a lot of ancillary costs,” he said. He recommended I talk with Iconeek, a new company nearby.
A few minutes later I climbed the stairs of a small office building on the Place de Longemalle and met Vanessa and Fabien Chicha, the founders of the online watch sale site Iconeek, who both have extensive experience working with top watch brands, including Omega and auction houses like Christie’s.	A few minutes later I climbed the stairs of a small office building on the Place de Longemalle and met Vanessa and Fabien Chicha, the founders of the online watch sale site Iconeek, who both have extensive experience working with top watch brands, including Omega and auction houses like Christie’s.
Mr. Chicha praised my watch as “an iconic Patek” and the sort of “virgin” watch that collectors want.	Mr. Chicha praised my watch as “an iconic Patek” and the sort of “virgin” watch that collectors want.