Collecting vintage watches with Paul Pfanner of Timewise Vintage Watches

Vintage watches have seen a surge in popularity among collectors in recent years. As a timeless investment, these timepieces offer both aesthetic appeal and potential financial returns. In this article, Paul Pfanner of Timewise Vintage Watches shares his expert insights on selecting vintage watches and curating a successful collection

What is the appeal of a vintage watch over a new one?

A lot of people aren’t particularly attracted to the design of new watches, the high prices charged and the fact that most modern watches are mass produced. Vintage watch buyers want something different, a watch not everybody else is wearing, something a bit special, something with character, something timeless which has stood the test of time, something that reflects their individual style and taste.

What makes a good investment/holds its value?

Certain new watches and in particular Rolex sports models have experienced dramatic price rises over recent years. The bubble has finally burst and prices have dropped significantly. Fashion and taste do change and vintage watches are not immune to price falls either. You only have to look at pocket watches.

My 35 years of watch collecting shows that a watch in good and original condition from a good manufacturer, not necessarily only Patek Philippe, Vacheron Constantin or Rolex, will do well in the long term. The arithmetic favours vintage watches: whilst supply is limited, the buyer/collector base is growing and consequently interest and demand have been on an upwards trajectory for years.

However, buying a watch should not be only about financial considerations. The sheer enjoyment you can get from forming a personal collection is immense; the hunt for a particular watch; the engagement with the subject; learning about it; appreciating the differences and meeting like-minded people in the process. It’s fun, rewarding and can be a source of constant joy. Buy a watch you enjoy. That’s a good investment too.

What you should be looking out for when buying a vintage watch

Concentrate on quality and rarity but most of all on condition. Buyers have become more discerning but they are prepared to pay premium prices for premium timepieces which tick all the boxes.

How much restoration has been carried out and how sympathetic is it to the original? Has the movement been well maintained? Look out for any repair on the case? You need a bit of experience for that and if you don’t have it, find a good vintage dealer who gives you honest advice. It will save you a lot of money and a lot of potential trouble.

Next step is look for something that speaks to you, something you actually like and not just consider because it might go up in value. Buy something you can connect to.

What do I like?

One watch I was fortunate enough to acquire recently is a rare and historically interesting Pilots watch, shown here, made by Longines for navigational purposes. In 1927, the American pilot Charles Lindbergh completed the first ever non-stop solo transatlantic flight from New York to Paris. He flew the Spirit of St. Louis aircraft single-handedly for the entire 33 hours and 30 minutes of the flight. For navigational purposes he designed the Lindberg Hour Angle Watch. It allowed for accurate determination of longitude during long-distance flights. As a result, pilots and navigators could find their geographic location quickly, efficiently and accurately. The Lindberg watch revolutionized air travel and is one of the most historically significant timepieces ever produced.

I like and admire the story behind the watch; the ingenuity of the design, the pioneering spirit and human endeavour of the Atlantic crossing, the colossal impact it had on aviation. One of the most iconic watches ever made.

The watch case is made from stainless steel with a hinged back. Fitted with the Cal. 18.69N manual wind movement, the watch retains the original oversized onion crown. The white enamel dial with inner scale is calibrated for 180 degrees, whilst the inner silvered rotating disc is calibrated for 60 seconds and 1.5 degrees. The watch is dated 1938 and for sale at £37,000.

Timewise Vintage Watches is based at 119 Portobello Road, London W11 2DY www.timewisevintagewatches.com