Vintage watches are a timeless classic which collectors love to own. Having just inherited an antique watch from your grandfather, you want to know its value. If you do not know too much about the watch, how do you go about determining its value? There are several steps you can take to help put a dollar value on this item you hold dear.
Examine the watch's condition
The condition of the watch plays a big part in determining how much it is worth. Most importantly, is the watch currently working? A watch that is working and that contains its original components is worth a lot more than one which is not working, or one which had a service with non-original parts put into it.
The ideal way to get a report on the condition of the watch is to take it to a specialist for a service. Your local jewellery store has details of servicing agents in your area which deal with your particular watch brand. They open the watch to check the internal parts, and will ensure every part is working as it should.
Contact a valuer
Once you know the internal and external condition of the watch, take photos of the front and back of the watch. Take care to capture the intricate details of the watch face and band, and also take pictures of any scratches or dents on the watch.
Your computer search engine can help you locate contact details for watch valuers who know your watch brand. Call a minimum of two valuers so you can get their email address and send pictures of the watch for an initial valuation. If it turns out the watch is valuable, they may ask to see the watch in person. If this happens, you can send the watch to them for further assessment. By obtaining more than one valuation, you have the confidence of receiving accurate and reputable appraisals.
Finally, use your search engine to look up the watch model online to see what price it is selling for at online auction. While prices in this arena are not always the most accurate, it does provide valuable research. This research is quite enlightening if you can find recent sales prices for this watch model, as it gives you an indication of what collectors are willing to pay.
Once you have an accurate valuation in hand, you can add the watch to your insurance policy. While money cannot replace loved heirloom items, it is best to get it insured in case of theft or fire in your home.