Thomas Perazzi: Vintage, retro passion

What is a vintage watch?
The term vintage applies to watches that are more than 20 years old. In reality, these are essentially wristwatches produced between the 1930s and the 1980s. These are timepieces that are no longer produced by watchmakers, and which are extremely rare because they were produced in small quantities, in thousands, hundreds or even just a few dozen pieces.

How do you explain the current popularity of vintage among watch enthusiasts?
Most certainly because the watch is considered an objet d’art. Just as a painting is based on a combination of artistic technique and aesthetic originality, watches created by the Swiss watchmaking genius have achieved the status of objets d’art. They are part of the history of the industry, they transcribe a quest for quality, design and technicality. Not to mention the fact that these are objects of unquestionable rarity. The market took a sharp turn at the turn of the millennium, thanks to the Internet and the widespread distribution of watchmaking information. Until then, watchmakers hadn’t really grasped the value of communicating about their heritage. Today, the public has everything it needs to understand the importance of 20th century wristwatches.

What do collectors look for when buying a vintage piece?
I would say that three elements contribute to the success of auction pieces. First, the quality of the watch is essential. It must not have been restored, the dial must be original, without stains or scratches, and the case must not be repolished. Preservation is an essential element. Rarity, of course, is also a key feature. Finally, the watch’s provenance also plays a major role. If it belonged to a famous person, an actor or actress, or a political figure, the watch is bound to attract the interest of collectors. It’s important to remember that passion is an essential element in any purchase.

Apart from the exceptional watches that break all records at auction, what models or brands are enthusiasts likely to be interested in the near future?
Of course, we always emphasize the great sales records, but there is a vast choice of watches that are prized by enthusiasts with budgets ranging from CHF 5,000 to CHF 15,000. I’m thinking in particular of certain steel references produced by Omega, Movado, Eterna or Longines in the 40s and 50s. These chronographs, created for aeronautical use or motor racing, feature a sporty design with case diameters in line with current trends. A certain category of collectors is positioning themselves on these timepieces, which are perfectly wearable on a daily basis.

Is a vintage watch a good investment?
Yes, absolutely, provided it’s done intelligently. We’ve certainly seen major price rises in recent years, but you need to know the market very well. Minute details can lead to huge price differences. If a dial has been modified, if a case has been repolished, if the bracelet is not original, the impact on value can be enormous. It is therefore important to consult a specialist.

On a more personal note, which vintage watch would you be willing to go out of your way for?
My dream would be the Paul Newman Rolex that belonged to the actor himself. Or a watch worn by an astronaut during the conquest of space. In short, a watch that tells a story.

Three golden rules to avoid mistakes

Rule number 1: BE CURIOUS The most important thing is to be well informed beforehand. It’s a good idea to get in touch with someone in the trade or with a collector. You can also contact the auction houses or the manufacturers directly. Calling on the expertise of a retailer can also be an excellent way of obtaining the information you’re looking for.
Rule number 2: OPEN YOUR EYES, THE RIGHT EYE Before jumping headlong into a purchase, you need to pay close attention to the quality of the piece and its state of preservation. To justify its value, the watch must be clean, spotless, with its original components.
Rule number 3: BE CONFIDENT It’s essential to be aware that you won’t get the bargain of the century at a flea market. With the Internet, sellers today are very well informed about their merchandise. Beware, too, of counterfeit vintage watches. A bargain that is too tempting should make the buyer even more vigilant. In case of doubt, contacting a professional remains the safest solution.

Thomas Perazzi, Head of Asia for Phillips’ watch department – photo: Clarissa Pearson Bruce