Buying Time 30/11/07 16:47 Page 083
Jaeger-LeCoultre’s Reverso à Triptyque
way things used to be done and don’t mind driving a vast and
unwieldy monster with scant weather protection and a crash gearbox,
you might consider spending ten times as much on a vintage Bentley.
And as is often the case with old cars, the more highly engineered
a wristwatch, the better collectors seem to like it – and that’s where
so-called “complications” come in.
An “uncomplicated” watch simply records the hours, minutes
and seconds using a basic movement (although it should be noted
that a particularly exquisitely crafted piece of this type, made
entirely by hand by a low-volume maker such as Philippe Dufour or
Roger W Smith, can still cost tens of thousands of pounds).
Start to add complications such as chronographs, perpetual
calendars, moon phases, power reserve indicators, minute repeaters
and/or the greatest of all horological complications, a tourbillon
(where the escapement is protected from gravitational variations by
being enclosed in a cage) and not only does the number of tiny
components rise along with the time and skill needed to assemble
the watch, so, of course, does the price.
And this brings us to another perverse aspect of haute horlogerie,
which is that the more expensive a wristwatch is to begin with, the
easier it seems to be to find it a buyer for it. Jeweller-watchmaker
Fawaz Gruosi, for example, last year unveiled the de Grisogono
Occhio Ripetizione Minuti.
This fabulously imaginative offering has a dial based on a camera
prism. When the minute repeater engages, the prism bursts open to
reveal the 414-part movement.
Inevitably, such ingenuity comes at a price – in this case, €350,000.
A limited edition of 50 was made, and all were quickly sold.
Horolophiles love something different, particularly if hardly anyone
else has got it. L50237
But will the Occhio, rare and ingenious as it is, actually rise in
value? Who knows? What we can tell you, however, is what to look
out for and what to avoid when trying to buy a new watch which
might, just might, rise in value:
●Choose a model made in extremely low numbers (or, even better,
a unique piece) preferably by a brand which makes all or the
majority of the watch in-house rather than buying in and
modifying mass-produced components.
●Buy a brand which is considered exclusive, but not one which is
so exclusive that no one has ever heard of it – just like buying a
painting by an established artist.
●Beware here-today-gone-tomorrow names which become
famous for being worn by celebrities rather than the excellence of
their manufacture. Look for genuine heritage.
●Avoid buying new, gem-set watches. This is where the saying
“the higher the retail, the lower the resale” comes into play.
A good example of this can be seen in the sale of a white-gold
Rolex with 11 carats of diamonds set into the bezel, bracelet and
dial which was sold at Christie’s in London at the end of 2004
for £23,900. It cost £92,000 new.
●Don’t consider anything with a quartz movement.
●Leave gaudily decorated pieces alone.
●If you choose an ultra-complicated watch, remember that, like
a high-performance car, it will eventually need specialist servicing
– and the bill will make a Ferrari seem cheap to run.
Ingenuity comes at a price: horolophiles love something
●Once you have bought your watch, keep all related packaging
and paperwork. different, particularly if hardly anyone else has got it
torque | 083
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