Demand for vintage watches has grown exponentially over the past few years, and the vintage watch market is now estimated at an extraordinary $3.4 billion pounds. Even amongst a global pandemic, buyers’ interest in watches never faltered – between 2019 and 2020, worldwide searches for ‘vintage watch’ on Barnebys more than doubled, and sessions for watches grew from 994,560 in 2019 to 1,403,060 in 2020, marking a 41% increase. What exactly is it that has made vintage timepieces so popular?
A high-quality vintage watch is an investment, capable of accruing many times its value over the years. During the economic downturn of 2008-09, prices for desirable vintage watch models dipped by 30 to 40 percent, only to return to record highs as the stock market recovered. For investors who would like to diversify their portfolios, valuable watches, like gems or precious metals, may represent a ‘safe-haven’ asset that maintains its value, appreciates, or simply outperforms others in times of economic turmoil.
No watch has exploded in value quite like the Rolex Daytona, a chronograph that the American film star Paul Newman made iconic in the late 1960s. A model in decent condition could have sold for around $800 at auction in the ‘60s; in 2020 the same watch may have fetched hundreds of thousands of dollars. After Paul Newman’s own Daytona watch received an eye-popping $17.8 million in 2017, selling 500% above estimate and setting the then-world record for a wristwatch at auction, the model has seen a renewed spike in popularity. There were 358,279 sessions listed on Barnebys for Rolex alone in 2020, up from 229,033 in 2019, indicating increased interest and trust in the brand as a whole.
Related: The 10 Most Expensive Watches Ever Auctioned
Once a convenience, online shopping is now a necessity. The vintage watch market is uniquely suited to the online marketplace, with a wide and varied selection of pieces from all over the globe. This makes it easier than ever to find rare options and compare the nuances of various models, while the relatively small size and light weight of watches make them ideal candidates for shipping anywhere in the world. Purchasing authenticated watches from a reputable dealer or auction house presents minimal risk to the buyer, and high-quality images combined with detailed descriptions make shopping from home a snap.
Finally, from clothing to furniture, retro designs are in. Popular brands such as Rolex, Omega and Patek Phillippe are drawing inspiration from the past, recycling design elements from the 1960s and ‘70s in several of their new models, in the hope that they can tap into the burgeoning market for vintage watches. However, ‘true vintage’ pieces hold an undeniable interest for collectors. Analogue electronics appeal to younger generations (just look at the recent resurgence of vinyl records), and vintage watches have a more authentic feel than a high-tech Apple Watch or a shiny new Dark Side of the Moon Speedmaster from Omega.
Related: 10 Reasons to Buy Vintage
Owning a vintage watch is a way to own a unique piece of history, while allowing the wearer to express their own individual style through classic designs. Hunting for the perfect piece provides a thrill that retail shopping lacks, and spectacular vintage models and retro designs are available at every price point. Old watches have a patina and a backstory, and showing age isn’t necessarily a bad thing – small nicks or scratches simply show a life well-lived. One thing is certain: these designs are classic for a reason, and the market for vintage watches isn’t going anywhere soon.