Some Thoughts On What Is Value...
Originally posted on Instagram on October 11th, 2016.
What is value to you?
Here we have two very similar, yet somewhat different watches from the early 1940s. Both are in steel, with black dials and Breguet numerals. The Patek measures 36mm and the numerals are applied, while the IWC is larger and it measures 42mm. The Patek is probably unique, and the IWC while very rare, might not be the only one known to exist. Both are undeniably cool as hell. Now here's the kicker:
The Patek sold for CHF 1,445,000 earlier this year, while the IWC that sold for "only" CHF 62,500... Money aside, which one is the better buy as a collector? A unique grail Patek, that will always be sought after, and highly regarded? Or... the larger IWC that has a (very?) similar look, but for less than 5% (!!!) of the price? The Patek could be perceived as a "blue chip" investment. While the IWC gives you a lot more "bang for your buck". Specially given where the prices of vintage prices are today.
So what is the answer? Valid arguments can be made on both sides. To me the answer is perhaps simpler, and it comes down to each individual collector. No right or wrong answer here. Just always remember the rule #1 of collecting, buy what you like!