Christie’s watch specialist Remy Julia's few pointers on how to buy a luxury watch

Many collectors go ‘watch-hunting’ for different reasons. To toast a special occasion, like a graduation ceremony or a wedding. Or, to fuel a single quirk – someone might scrape the market for only lapis lazuli dials because it is their lucky stone/favourite colour, or they have a penchant for military chronographs during World War II. And yet others look only for specimens born the same year them. Of course, there’s that ego boost. Reason notwithstanding, before you acquire a high-end model, get your buying basics right, advised Christie’s watch specialist Remy Julia at his masterclass during the recent Luxury Lifestyle Weekend. Here are a few of Julia’s tips for both the seasoned watch collector and the aspirant.

Newbie alert

For the first-time buyer, Julia insists they first complete these three tasks. 
Firstly, invest in acquiring knowledge about the world of watch collecting. Buy books on the history and technicalities of watchmaking. Study the evolution of fonts, logos and scripts. In time, you will find models that speak to you. Understand trends. When the Rolex Daytona launched in the ’70s, it had no market, but it grew popular in the ’90s and its price multiplied.

Secondly, download and study online auction catalogs. Analyse post-auction results, why a particular watch estimated to sell at $20,000-30,000 sold at $85,000.

Finally, touch watches. Visit watchmaking hubs and collector forums on your travels. Here, inquire about various specimens, find the ones that look good and fit well on your wrist and what speaks to you at your budget. Buy a UV light and good jeweller’s loupe (magnifying glass with convex lens) – tools to inspect and learn – and make these permanent occupants of your pockets.
Only once you’ve accumulated 1-2 years of knowledge, consider yourself, you will be ready to buy your first watch.

Dial: the crown jewel

Eighty per cent of the watch’s value is in the dial. Never skip a good inspection of the dial for any distractions, for instance, coffee/drinks offered by store attendants. It’s your hard-earned money on the line. Take the case of a Rolex Stella, a watch, which always starts a bidding war since it so rarely pops up on the market. A single hairline crack on a Stella dial can slash its price by half. Its price also varies on the colour of its dial (it comes in about 14 colours). So, if the red dial commands $30,000, a baby pink/blue will cost  $40,000-50,000, and yellow and orange ones reach further tantalising price points. 

When it comes to the hands, a watch with service hands (replaced watch hands) has a lower value than original hands. Colour of the hands should match the colour of the dial. Check if the brand name on the dial matches that on the sales paperwork. Often the paperwork states it is a ‘Patek Philippe & Co’ make – the brand before 1948 that commands a higher market value – but the actual dial may just have ‘Patek Philippe’ – a newer low-cost model. Also ask for photographs of the caseback, which may bear engravings or watchmakers’ notes that match the watch’s reference number, or year of production – key areas a specialist will check to decipher how many times a watch has undergone servicing.

Other viable collecting options

While big collectors chase Patek Philippe, Rolex, AP, etc, for the new, yet terribly interested collector these brands can prove beyond impossible to acquire. Julia suggests start with a collection of Soviet Union (SU) watches worth $2,000. You can add/subtract, play around with this bunch as SU watches sport different dials, materials, chronographs, scales, logo, and each specimen falls between $2-400. 

Happy collecting!