Condition Is Key
Evaluating a watch accurately is, in many ways, the same as evaluating a car. How well it runs, how dinged and scratched it is, how well it’s been maintained, and whether it has all its original parts are all key questions. With watches, condition and documentation are key, so if your father or grandfather has any records of the watch being serviced or repaired, you’re going to want them. Even if the piece runs fine now, not knowing its service history means you’re handling a ticking time bomb—depending on the piece, a full service can run you anywhere from around $100 to well over a grand. No matter if your intent is to hang on to the watch for decades, or you’re looking to make a quick buck, it’ll most often be worth it to get it serviced unless you have it's history already on record.
When talking about original parts, this is where our old pal Google Images comes back into play. Especially in the 1960s and ’70s, many watches went through variations in which the hands could sometimes vary on the same model. Still, if all the images you find of your watch show different hands, a differently shaped crown, a flat crystal instead of the domed one on yours, you may have a watch that has nonoriginal parts on it. The bad news is it won’t fetch the top dollar of the range you saw earlier. But don't worry, that also doesn’t mean it’s completely worthless—it's just the kind of watch that someone will buy to actually wear, not to keep in a glass box somewhere. Think of it as a '69 Mustang someone buys because they actually want to drive it.
Ask a Real Professional
Once you’ve done your background research and gathered any pertinent information, you may be satisfied with the approximate value range you’ve uncovered and can stop here. You can try taking it to a retailer, such as analog/shift, and many of the auction houses also do consignment sales for the right piece (though in some cases, be prepared to part with a percentage of the final sale price on commission). Still, if you’ve now become more curious than ever about getting a definitive answer to “What’s this thing worth?” It’s time to reach out to the pros. I’m not talking about the old man at the watch bench of your local jewelry store. That guy, nine times out of 10, either won’t have a clue about the actual market, or he’ll throw you a lowball offer in hopes of getting it from you for a song and flipping it himself.
The folks who’ll give you the straight goods are those who have too much at stake to risk their reputations on giving you a number that’s anything but accurate. All the big-gun auction houses—Christie’s, Philips, Sotheby’s, and Auctionata—all have in-house watch specialists who spend their time evaluating all sorts of vintage watches. Either through e-mail communication or by booking an appointment in person with one of their team, they will be able to give you a clearer picture of what your watch is worth either for retail or for insurance purposes. We wouldn’t recommend going knocking on their doors if you think the watch in question might be worth $300 to $500, but once you’ve crept up into the thousands or tens of thousands, they’ll be happy to give you the definitive answer you’ve been chasing all along.