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The Watch Enthusiast #4 October 2003

The Watch Enthusiast #4 October 2003

The monthly newsletter for collectors and wearers of vintage and antique watches.

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In this issue . . . . . . .
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1. Welcome
2. Market Update
3. Great Cases Must be Seen – Not Hidden
4. Watch Display
5. Helpful Resources
6. Questions and Answers
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Welcome

Welcome to the October issue of The Watch Enthusiast. The Watch Enthusiast is a free monthly newsletter about watch collecting. Our goal is to provide:
Original articles about the enjoyment of collecting and wearing of wrist and pocket watches. Up to date information based on reliable sources. I will be expanding on articles below in future issues. Please let me know if there is a particular watch or style of watch that you would like to see discussed in future articles.

This month The Watch Enthusiast welcomes Joan of Good Buy Girls as its first guest author. Visit www.GoodBuyGirls.com for all your contemporary display needs. Next month I’ll be doing a short article on antique pocket watch displays that I had originally planned for this month, but will not have the pictures of various watch holders I want for the article until next month.
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Market Update

There appears to be a sign of economic recovery within the watch market. I do not know if it is real, or just based on the rising price of gold and the lowering exchange rate of the dollar.

Unique high-grade pieces have substantially increased in value recently (based on the few pieces in primarily jewelry auctions – I’ll get into specifics next month following several major watch auctions). Also increasing more than a correction due to the price of gold and the value of the dollar are several fine quality makers whose pieces have been down far more than I believed made sense. These makers are Girard-Perregaux, IWC and Ulysee Nardin. These brands showed a solid recovery at recent regional auctions with a similar increase apparent online. Other pieces that have a substantial collecting base outside of the United States, like Omega and Movado, have certainly increased based on the slippage in the dollar. Similarly, there has been an increase for basic Rolex, with unusual or complicated pieces showing a greater price recovery.

If buying watches for investment, the above brands probably have the greatest upside. If buying watches for security, Patek Philippe showed almost no slippage in value during the latest recession with only slight slippage in watches by Vacheron Constantin or Audemars Piguet. If buying for your own enjoyment, which is what I recommend, just pay a fair price and have fun with the pieces you buy.

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Great Cases Must Be Seen – Not Hidden

Part of the enjoyment of buying a watch with a great case is showing it off. Since you can only wear one watch at a time, and the watch being worn actually stays in your pocket most of the time – you should display your favorite pieces for your own enjoyment and the enjoyment of others.

Some watches make it easy for you to display as there is a split back that can open up for use as a small desk clock. These generally are either square pieces http://pages.captainhucksbooty.com/3559/PictPage/1922065056.html with a nice pair of horses or other designs on the back or the wonderful triangular Masonic pieces from the early 1900s.

The cases most of us are familiar with are those with great designs in gold or silver. They can be the fabulous repousse pieces from the 1700s (even when one cannot get the watch to work because of a broken chain drive, these still are “works of art”) and the multi-colored designs from about 1860-1900 that currently bring such a premium. Then there are similar chase pieces in one color that have a great pattern http://pages.captainhucksbooty.com/3559/PictPage/1922055254.html or complete scenes, like this front and back hunters on a lake http://pages.captainhucksbooty.com/3559/PictPage/1921670782.html. Also, sometimes you can find pieces where how the original owners initials were done become works of art -- the more interesting take awhile to figure out (or a best guess) what are the initials.
http://pages.captainhucksbooty.com/3559/PictPage/1921372376.html

Beyond the straight metal cases are enamel cases. These are primarily found in either guilloche enamel – many times including diamonds or other precious stones http://pages.captainhucksbooty.com/3559/PictPage/1921092799.html or polychrome enamel scenes http://pages.captainhucksbooty.com/3559/PictPage/1921422462.html which would include some of the phenomenal Chinese Market pieces that realize tens of thousands of dollars each. Please note that enamel pieces should be kept out of direct sunlight and are best displayed in low light in order to protect the enamel from fading.

Finally, there are cases that are not made of metal. Many types of stone have been used for pocket watchcases from Opal through the highly collectible goldstone. You can also find some unique agate cases and often some done in Mother of Pearl. http://pages.captainhucksbooty.com/3559/PictPage/903349.html

If you are lucky enough to have collected some or these fantastic pieces, those pieces deserve to be part of your very own mini-museum and you deserve to have such a museum.

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Display of Watches

Paul Huck, the Editor of the Watch Enthusiast, has graciously invited the Good Buy Girls (www.GoodBuyGirls.com) to provide some suggestions for display and storage of treasured timepieces. Whether you want to find a safe way to display your grandfather’s heirloom pocket watch or you have come to collect timepieces, there are several things to keep in mind.

Quality watches have generally been sold with some protective case. We’ve read that a line of limited-edition Gruen “anniversary” pocket watches marketed in 1924 came with a “standard” box, then valued at $500 USD, ($15,000 dollars today). Many purchasers, not satisfied with that leather-bound box, ordered custom boxes that were more decorative, and far more expensive. Today, many watches still come with standard boxes, whether they are leather, plastic, or some other material… but they are generally provided for storage, not to show off the watch for display.

When deciding on an appropriate method for displaying a treasured watch, its owner must first consider the features of the watch. Is it a pocket watch with a “watch bow” (that round piece that attaches around the crown) that can be used, not only for the historical purpose of attaching a watch fob, but also to hang the watch for display? Is it a wristwatch with a band? Different kinds of watches require very different displays.

There are many attractive and functional ways to display a single pocket watch or timepiece. One popular choice common in the United States is a glass dome fitted with a hook suspended from the top of the dome; another is a glass dome with a wire hanger that is inserted in the base. These can be purchased fairly inexpensively, and function both to display that individual heirloom timepiece or favorite watch and at the same time, protect it from dust, scratches, and handling. Depending upon your taste, and the features and size of the watch you are displaying, glass and acrylic domes are available with wood, pewter, polished and antique brass bases. Common sizes are 3” wide x 4” tall, or 4” wide x 7” tall.

When selecting a dome or stand, it is important to consider a number of factors. If suspending a timepiece from a hook, subtract the length of the hook from the height of the dome. If displaying from a vertical hanging wire, learn the height of the hanging wire. Consider whether a covered timepiece will be displayed closed or open; when open, it may or may not be as long as when closed. When hanging a wristwatch with a band, it might be hung from the clasp, or alternatively, might be hung with the clasp closed as if the band were around a wrist, and suspended from the band in that fashion. Consideration should be given as to whether the timepiece should be displayed so that it touches or partially rests on the base, or so that it is fully suspended above the base. When searching the internet for appropriate glass or acrylic domes, a collector need not limit the search to those designed specifically for watches; any appropriately sized dome with a hook or hanging wire may be considered.

For a more dramatic look where exposure to dust is not of as much concern, a more ornate hand-carved wooden pocket watch stand may be preferred. These have been more common in the United Kingdom, but are steadily gaining favor among U.S. collectors. These provide a very distinctive way to show off individual pocket watches and other timepieces, and may feature more unusual woods than generally found (rosewood, burlwood, ebony, and buayawood, to name several). Other open watch stands are available in metal, such as brass or pewter, and in more traditional arch or half-arch shapes.

For display of working timepieces that require movement in order to maintain time, a collector may instead look to a display that also serves as an automatic “winder”. These are quite expensive, ranging in price from $300 to several thousand dollars. They do, however, serve to avoid repetitive attention to winding and are available in very attractive designs.

To display and protect a larger number of wristwatches or pocket watches, some collectors may prefer to use shelved glass cases. Ranging in size from perhaps 6” wide x 12” tall (with 2 or 3 display surfaces to display one or a few on each level) to quite large glass cases that could accommodate many watches and at the same time, maintain easy viewing. Within such a case, individual timepieces can be located upon small Lucite stands. If security is a consideration, it may be worth considering a lockable case, which would provide at least some deterrent from theft.

Another possibility would be to use a hanging “medal case” or “awards” display case, in which a collector can affix military decorations, award ribbons, or (in this case, timepieces) to the back of the case. The collector generally chooses black or some desired color velvet for background. These cases often have glass fronts, which provide protection to the collection, and may have locks. If the collector prefers, the case can be displayed flat on a table rather than hung.

Other collectors may prefer to use display boxes made of wood or bound in leather, some of which may have a clear top for viewing, and others that would hide (or even lock and secure) the collection until the owner offers viewing to a guest. Verona rolls are an example of these. Many of these act as “valets” that, in smaller sizes, may be used to protect a few timepieces for traveling.

So far, the Good Buy Girls have been concentrating our watch displays to those used for individual timepieces, but we also offer shelved glass cases in a variety of stock and custom sizes. To see our current offerings for glass domes and individual stands, here is the link our “Pocket Watch Displays”:

http://pages.goodbuygirls.com/326/InventoryPage/820469/1.html .

For custom glass cases with shelves, here’s another link: http://pages.goodbuygirls.com/326/InventoryPage/1416797/1.html .

We thank you for your time! Whether for your own collection or as a gift, when it comes to selecting an appropriate display, we hope you’ll visit us at www.GoodBuyGirls.com. We do our best to help you select a display for one treasure or an entire collection, in a style that suits your taste, and at a price that fits your budget.

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Helpful Resources

For a site with quality information, discussions and links regarding high-grade Swiss watches (and other items like pens) try The Purist at http://www.thepurist.com The Purist bills itself as “The Serious Connoisseur’s Resource.”
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Questions and Answers

Question:

The description states LeCoultre, also bearing on the movement the code for Vacheron Constantin – what does this mean?

Answer:

In 1940, the Swiss holding company, under the direction of George Ketterer that already ran Jaeger-LeCoultre acquired management of Vacheron Constantin. During this period of dual management, Jaeger-LeCoultre made movements for Vacheron Constantin, which would have been marked VXN, the letter code for Vacheron Constantin. It appears that many of these movements were retained by Jaeger-LeCoultre and used in various LeCoultre pieces. These pieces were then stamped LeCoultre, but retained the VXN markings. I believe that these movements were generally a higher grade than the movements just marked LeCoultre (please note that this belief may be clouded -- with no relationship to reality -- as Vacheron Constantin is my favorite watch company). Jaeger-LeCoultre made movements for Vacheron Constantin through 1965 when George Ketterer left the holding company and assumed management of Vacheron Constantin, severing its relationship with Jaeger-LeCoultre.

While things change, many are cyclical, and in 2000 Jaeger-LeCoultre became part of the Richemont Group, which already owned Vacheron Constantin. Both companies are currently run separately, designing and manufacturing their own watches. The Richemont Group is the major player of high-grade watches as its other companies include: A. Lange & Sohne, IWC, Officine Panerai, Piaget and Baume Mercier.

If you have questions about watches or watch collecting, please forward to Huck@Tias.com. We will not respond to questions solely about value of a particular watch. For an estimate, discuss with watch friends, check with a local appraiser or auction houses or, on the web, try http://www.kovel.com for a price book or http://www.whatsitworthtoyou.com/tias.htm for an online appraisal.
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Thank you for reading. Please e-mail Huck@Tias.com with any comments or if you would like to write a short note for this newsletter. Also, please let me know if there are any items you would like me to search for --- thank you, Paul Huck, http://captainhucksbooty.com. Feel free to forward this to a friend. To subscribe to this or other TIAS newsletters, including The Cuff Linker, that I’m also the editor and primary author, go to http://www.tias.com/subscribe