Please enjoy the following article by Jason Cormier of Matt Baily who sells watches in Canada. He is a vintage watch lover (lots of love to Rolex it seems) and natural born historian.
In today’s watch market, buyers are spoiled for choice. You can have
any variation, any function, any material, and in any price category.
And within each category you will find dozens of brands offering
competing products. It’s overwhelming, but it means you will never be
at a loss when looking for that special watch (or five).
Some of us prefer to reject all that choice altogether and go for the old junk.
Yes, I am a vintage watch lover. To a modern watch geek this
obsession with the old can appear curious. To the average layperson it
is absolute madness. I am the sort of lunatic who seeks out unpolished
cases, perfectly faded tritium markers, and esoteric stuff like
original crystals and stamped warranty papers. I am an unabashed and
unapologetic vintage nut. And I would like to make a case for my
obsession; not to justify it or convince anyone it is somehow superior,
but merely to explain the passion that drives me to seek out vintage
watches rather than purchasing new ones.
I’ve long followed Ariel Adams and John Biggs on the blogosphere. I
am a fan of their candid and straightforward opinions, and their
podcast together is a real treat for watch lovers who want something
more than the typical industry press-release drivel. But I have taken
exception to their attitudes towards vintage watches. Ariel and John
are clear that they much prefer new watches to old ones, and have a hard
time understanding why anyone would chose to buy vintage. That’s where
I come in — I’m here to offer the counterpoint on behalf of vintage
watch lovers and collectors.
Why would anyone want to collect old watches when the new stuff is
far superior in terms of finishing and engineering? Everyone has his or
her own reasons. Some older collectors purchase pieces that seduced
them during their youth, but they couldn’t afford at the time. Others
love to complete collections of a particular brand or model,
obsessively seeking out different variations. Others still want to own
rare pieces that are extremely exclusive and historically important. In
my case, I have two main reasons — firstly I am a historian, secondly I
always seek out things that are distinctive.
I have a degree in history and pieces with historical significance
have always had a particular allure to me. Something about owning an
object from another period that has witnessed decades of use, and
perhaps been related to some important event, is a very romantic notion
to me. I own a vintage Omega Speedmaster Professional because of its
direct connection to the space program and the moon landings. I lust
after an early Rolex GMT Master for its relation to aviation… and
because my favourite author, the ever-gonzo Hunter S. Thompson, wore
two GMT Masters at once. The other reason, distinctiveness, is the
exclusivity of owning a vintage piece. Anyone can walk into a dealer
and purchase a new watch. Vintage watches are much more exclusive and
elusive, not for their prices, but for the small number of collectors
who wear and trade them. Finding a good vintage piece requires hunting,
research, and sifting through dozens of examples until you find “the
one”. Some people seek out grail watches — for me every vintage watch is
a grail piece that needs to be obsessively hunted down. The thrill is
as much in the chase as it is in owning the damned thing.
Some vintage lovers will proclaim, loudly, that vintage was better
than all this modern mass-produced junk. They pine for the good ol’
days where Swiss farmers finished wheels and cogs in their attics
during the winter, using the finest tools wrapped in unicorn hair and
only assembling components on the thighs of beautiful virgins, and say
that modern mass production has nothing on good old-fashioned hand
craftsmanship. I disagree. I work with
cheap watches on a daily basis and I
have no delusions about vintage stuff. It is not better. Often times it
is worse in terms of performance, reliability and finishing. For
highly collectible pieces the price does not reflect the essential
value of the piece, it only reflects the rarity. That isn’t to say that
vintage is garbage, far from it. You can have a reliable, accurate
daily watch that was made several decades ago. But in terms of
finishing and an overall feel of quality, new stuff wins hands down. You
need to realize this when collecting vintage — just because prices
reach into the stratosphere doesn’t mean the item will be astonishingly
well made. It usually isn’t the case.
Being a vintage collector means having a different set of criteria
for what you expect from watches. Where many people would gravitate
towards a perfectly restored and polished examples, a true collector
will scoff at those pristine rebuilds in favour of one that is entirely
original (and probably well worn). This means the case was never
re-polished, the dial and hands are original and nicely patina’d, and
the bracelet is original to the watch. Finding a watch that is more
than 20 years old with the original box and papers is a damn near
religious experience, if you find one that is unmolested and completely
original to boot it is a miracle.
If you can’t understand why this is important, then vintage probably
isn’t for you - If every hairline scratch on your watch enrages you,
or you obsessively scan over the watch with a loupe looking for tiny
flaws, you are better off sticking to new pieces. This is usually what
alienates people the most from vintage, the fact that old and beaten up
is valued over new and pristine. Think of a concours restoration on a
car versus a good running example that has never been restored.
Collectors will go ga-ga over the original car, while the everyday
person will gravitate towards the flawless nut-n-bolt restoration.
Perfect originality is rare, and is thus desirable.
Ariel and John made a point in one of their podcasts — when
collecting vintage, there is a lot of crap out there. And I agree. The
market has shifted considerably since the 1970s. After the Quartz
Crisis decimated the Swiss watch industry in the early 70s, mechanical
movements were considered obsolete. In the 1980s and 1990s, the
mechanical watch industry rebounded by focusing on the craftsmanship of
fine mechanical movements (and aiming mechanical watches at the
high-end market). Before the Quartz Crisis, mechanical movements were
the only watch movements out there and had no such mystique outside of
haute-complications.
Many inexpensive watches of yore were disposable commodities, like a
modern Timex. Most were poorly made and were not at all impressive in
terms of function or finishing. But with the emergence of quartz and
the subsequent elevation of mechanical movements people are now viewing
any mechanical watch as a luxury piece, no matter how awful it really
is. Blame eBay and Antiques Roadshow for making people think that any
old piece of junk is a potential fortune. Most people who get burned by
the vintage market fall into the trap of buying junk, or are seduced
by franken-pieces / fakes due to lack of research. I’ll admit that
collecting vintage is not for the faint of heart and requires a lot of
background information — which I find is most of the fun.
Collecting vintage is not for the uninitiated. I don’t recommend it
to people with a casual interest in watches. You need to inform
yourself and be aware of junk, fakes, aftermarket parts, disreputable
sellers, poorly serviced movements and basket-cases, franken-watches
cobbled from parts, etc. Today’s buyers have the advantage of reams of
information available online for just about any marque. If you have an
interest in a particular brand or model, start researching. You’ll be
amazed at how much information you can find on websites, blogs and
forums. You’ll also be amazed by how many horror stories are out there,
which is good fodder for learning from the mistakes of others. It
helps to find a reputable brick and mortar store that deals in
pre-owned and vintage watches; if you build a relationship with a
knowledgeable retailer you will be much less likely to get burned. You
will also want to find a good watchmaker with a lot of experience, as
it is inevitable that you will need to get your pieces serviced. Having a
good watchmaker at your disposal can make the process much less
painful and far less expensive.
I’m not here to try and convince anyone that vintage is better. If
you look at it logically it doesn’t make sense at all — you will have
far fewer headaches if you stick to new stuff with the backup of a
manufacturer’s warranty and the support of a modern sales and service
network. What I hope to have done is given a small glimpse of the
passion I have for watches in general and how this has turned into a
love of vintage pieces. I find it irritating when people dismiss
vintage watch collecting out of hand. It takes a particular personality
to enjoy vintage collecting. If you have that spark, run with it - if
you don’t, then find your own niche. It’s a lot more fun to hunt down
rare vintage items than it is walking into an authorize dealer and
walking out with a watch. Loving vintage watches is all about passion —
it can’t be rationalized or made logical. If you think about it,
owning any high-end watch isn’t rational anyway. You can tell the time
with your cell phone with perfect accuracy - why spend thousands on a
device that tells time with obsolete and archaic technology? Why indeed.