by: Amani Liggett
Over the past decade, the Internet has made collecting and selling vintage and antiques easy and popular. This is especially true for the vintage watch market. The costs associated with selling vintage watches online are much less compared to selling at a physical location, where one would need to rent a space and pay employees and security.
Antique Pocket Watch
One the website FinerTimes.com, their watch market reports that, “Traditional auction houses such as Sotheby’s regularly conduct sales in New York, Geneva and Hong Kong which generate millions of dollars in revenue and are attended by the world’s most prominent dealers and collectors. Indeed, it was at a Sotheby’s auction in December of 1999 that an ultra-complicated Patek Philippe pocket watch commissioned by American businessman Henry Graves in 1933 sold for an astonishing $ 11 million – a new world record.”
Recent television shows such as Pawn Stars and Hardcore Pawn have also skyrocketed the general market for vintage goods, encouraging collectors to surface. For example, in the Pawn Stars episode “Pocket Watch Pick ‘Em” shows viewers how to estimate the greater value between two gold-plated antique pocket watches.
Despite television’s success, the Internet allows for websites such as the seller giant eBay to participate in the multimillion dollar business of vintage watches. In the last business year alone, over $ 37 million worth of antique watches were auctioned and sold online, rather than at an auction house.
Sites such as Antiquevintagewatches.com, Dalor Vintage, and others are create areas for watch collectors to convene in discussion forums, write product reviews, and look for signs of fraud. FineTimes.com further explains “the wealth of information offered by these sites has allowed collectors to gain a horological education much faster than ever before and has resulted in a new breed of watch buyer – sophisticated, educated, focused and market-savvy.”
The Internet has certainly changed the rules by allowing collectors and buyers from around the world communicate more freely. The technology of our time allows for vintage watch dealers to post HD pictures of their products and have offers to buy in as little as a few hours. Pre-owned antique wristwatches and pocket watches have undeniably grown to be one of the biggest collectible areas of the past twenty years. Many are growing to realize that a proper vintage watch makes a great family heirloom for future generations.
Vintage Wristwatch
However, potential buyers should care to remember that the vintage market is also a magnet for criminals and frauds. Serious research should be put into finding a legitimate and reputable dealer, as well as certificates of authenticity.
From:Luxury Watches That Impress Review Blog
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