What to consider before purchasing heirloom watches

[sierra11b]

I wanted to write my list of considerations when purchasing a heirloom watch and also address future concerns I personally weigh before making a purchase. I think some points on this list can apply for any general watch purchase. At any rate I hope this information can be helpful for some.

If you're a notorious flipper or don't care what happens to your watches after you're six feet under then this probably will not apply to you… If you're anything like me and want to grow old with your watch and/or want to pass on your watch as an heirloom then I think it's important to consider the potential unforgiving side of long term ownership

Hopefully others can chime-in by adding what they think is important to the list:

1) Nobody can foresee future generations' taste in watches or know if they will have any interest in watches.

I think this is the biggest consideration in buying a watch with intentions to pass-down in that your personal preference in style should be paramount. It's also the number one topic of debate in that the idea of an heirloom piece may only be in the mind of the original owner. For this reason it's questionable if you should even consider purchasing a watch with intentions of it become heirloom in the first place. Although you can potentially steer your son/daughter to this sick addiction, your heirloom piece may very well be sitting in a drawer when your great grandchild owns the watch.

2) Is the watch style you're considering just a fad or a testament of the ages that will never go out of style?

This coincides with #1. While you should buy a piece that defines your tastes what are the chances the watch design is timeless enough to withstand, dare I say, future fashion trends?

This is also a great argument for owning more than one watch with the intentions of the hockey puck-sized watch for fun.

3) I've seen this statement thrown out a few times: "Patek maintains a record of ownership and will work on all watches regardless of age"

True. You may have deep pockets and be able to afford the Patek but does your current financial state guarantee future generations old money? Will your grandchild or great grandchild be able to realistically fix your perpetual calendar or will it sit in a drawer until their great grandchild becomes successful or wins the lottery?

4) The cost of ownership and realistic expectations of longtime ownership.

Things to consider when purchasing ANY watch not limited to heirloom pieces are:

-Can the movement be easily serviced? If you choose a piece that carries a very specialized movement the parts supply may be very limited. Furthermore, it's important to know if the manufacturer of the watch has created (or is in the process of creating) a monopoly on parts by not allowing independent makers parts accounts. If so, this will significantly drive-up service costs and leave you no choice but to use their service centers at a considerable premium. You can avoid service price shock if you simply do your homework. We occasionally see threads where some costs are insane and others which are still reasonable considering the limited service options for that particular model.

It's also important to consider what other styles of watch carry similar movements and how long the movement in question has been used in models throughout the years. This is a pro-argument for ETA-based and other venerable mainstream movements that have no foreseeable shortage of parts. Remember that some watch houses only guarantee parts for ~25yrs or far less in some cases. If the manufacturer in question did not allow for private makers to acquire parts then it's a matter of how common the watch is/was in sheer numbers of production. At this point you'll have no choice but to have the manufacturer service the watch with hopes that their parts supply haven't completely dwindled. If they did allow for private makers to acquire parts then your chances for service are multiplied depending on how common the watch is/was given the volume produced.

-Is my watch too unique? Sure the movement inside that 1 of 100 piece is used in a dozen other models but the likelihood there will be any cosmetic pieces available for your watch years from now is very small. If the movement is specific for this watch then your chances of both coming together are virtually zero. It's true that cosmetic parts for any watch will eventually dwindle but you're more likely to find parts for a mainstream design years from now as opposed to a one-off limited edition or rare piece.

-What if the manufacturer eventually goes out of business? This is a potential risk I've taken recently and something that can apply moreso with independent manufacturers. Thankfully, this particular maker is currently going strong and I'd like to think he has considered how to pass-along the torch. What you need to consider foremost in these cases is the movement and ask yourself these questions: 1) Does the movement have compatible parts and can it be serviced by a private maker? 2)If it can be done, does the idea of a working watch years from now outweigh the fact it may not be decorated in a similar fashion, if at all? 3) How much is this going to realistically cost me or loved ones? 4)Can I acquire parts directly from the maker now as a reserve? 5)Depending on what I can and cannot purchase in back-up parts and their cost, would it make sense to buy another watch altogether instead?

6) Monetary value

This one is low on my list as the idea of a true heirloom piece is that it's never sold throughout the years. On the contrary it's nice to know that the piece your handing down has monetary value, especially if the watch needs to be sold in a financial bind as family always comes first. At any rate resale value needs to be of more concern given the price… If you buy low don't expect the resale to be high. Potential resale value should be of more concern if you invest in an expensive watch. Just be sure you're not taking a considerable hit on potential resale if you're shelling-out the big bucks

[capote]

I guess the most important factor is if the next generation gives a crap about watches at all or sells it right away. That means I will personally only buy watches that I like and that I want to wear.

[sierra11b]

Totally agree. Just thought this information could be helpful to those considering buying any watch foremost with the off chance it could be appreciated by future generations.

[mph476]

great write up very informative. I'm now rethinking my next purchase