We have all seen the episodes of Antiques Roadshow where a battered Submariner, which was priced at the equivalent of £2,655 when Rolex introduced the dive watch in 1954, is valued at tens of thousands of pounds.
Despite a recent dip in prices for hot modern day professional timekeepers on the secondary market, the scarcity of models from the year of their creation — usually in the mid-20th century — has maintained their value among collectors scouring the major auctions.
All of which got Tim Harrison, co-founder and watch expert at Watch Pilot, wondering which watches have appreciated most in value if you compare the original retail price in the year they were first launched, with what people are prepared to pay today.
It is worth noting that the auction prices in Mr Harrison’s research are for the very finest examples that have set price records, rather than an average over recent sales.
Vintage watches with the largest increase in value:
| Vintage Watch | Original Retail Price (inflation adjusted) | Current Price | Percent increase |
| Rolex Daytona (1953) | £2,077 | £258,317 | 9639% |
| Rolex Submariner (1954) | £2,655 | £97,848 | 3586% |
| Audemars Piguet Royal Oak (1972) | £8,123 | £232,319 | 2456% |
| Patek Philippe Nautilus (1976) | £13,018 | £332,682 | 1901% |
| Heuer Autavia (1962) | £946 | £19,570 | 1521% |
Supercharged Rolex Daytona prices
The watch that has increased in value the most is the Rolex Daytona at a 9639% increase.
Originally designed for racing drivers, vintage Daytonas have a cult status among watch collectors thanks to their timeless style and association with iconic actor Paul Newman.
His personal Daytona even sold for more than £13 million back in 2017 and a pristine 1971 model complete with box, warranty papers and even the receipt was valued at more than £500,000 in 2020.
Rare vintage models, like those with a Zenith El Primero movement fetch high prices on the resale market and can go for much higher depending on the condition.
Rising Rolex Submariner prices
The next vintage watch to have increased the most in value is the Rolex Submariner with an increase of 3586%.
Introduced in 1953 as the world’s first diving watch, vintage Submariners are guaranteed to have increased in value over the years.
If you own a vintage model, these can fetch even higher prices, with a Submariner sold for only £132 in 1972 recently valued at £20,000.
The watch is highly sought-after by collectors thanks to its timeless style and durability, with models purchased in the last few years already costing more on the second hand market than brand new ones.
Rocketing Royal Oak prices
The third watch with the highest value increase is the Audemars Piguet Royal Oak with an increase of 2456%.
Widely hailed as the world’s first luxury sports watch, the Royal Oak was launched in 1972 during the height of the quartz crisis, which proved the end for many Swiss watchmakers.
Audemars Piguet was spared bankruptcy thanks to this unconventional mechanical timepiece and is still the best-selling watch manufactured by the company.
Designed by Gérald Genta who is also responsible for the Patek Philippe Nautilus, it features an octagonal bezel and exposed screws inspired by old-fashioned divers helmets.
How to care for vintage watches
If you are fortunate enough to buy, inherit or own a vintage watch, it is crucial to keep it in top condition because the best examples will always command the greatest prices at auction.
WatchPilot’s Mr Harrison gives his top five tips on keeping your precious vintage timekeeper in perfect shape.
Handle with care
Keep in mind that vintage watches aren’t as durable as their modern alternatives.
Watchmakers didn’t have access to the high-tech and hardwearing materials and coatings that make them less resistant to dents and scratches that come as standard in watches today.
So if you plan on wearing your watch, make sure to be extra careful and avoid any activities that could put it in harm’s way.
Use protection
Dust and humidity can seriously interfere with your watch’s mechanism and broken vintage watches don’t have nearly as much value as fully functioning ones, so make sure to keep it in a clean dry place with a consistent temperature.
Storing your watch in a humid environment means moisture can seep into it, making movements rust and damaging the dial.
Box clever
While your watch can retain its value on its own, keeping the original box and all the documents that come with it will help retain as much of that value as possible.
Having all the paperwork to hand, including any servicing documents and the guarantee card is evidence of the watch’s condition and will help prove the watch’s authenticity, making the timepiece more valuable.
At your service
Keeping your watch ticking is key to preserving its value and the best way to do that is to have it serviced as often as necessary.
Vintage watches worn every day should be serviced at least every three to five years and more complex timepieces like chronographs should have even less time between services.
But if you store your watch properly and only wear it for special occasions it won’t need servicing as often.
If you don’t service your watch regularly it might need a lot of repair work which can drop its value as it won’t be considered truly authentic.
Keep it real
Following on from the last point, repairing and restoring a vintage watch to how it would have looked and functioned out of the box can severely damage its value.
Avoid the temptation to have your watch case polished as this can interfere with its original finish and alter the bezel, making it less desirable for collectors.
The majority of a vintage watch’s value comes from the dial, so it’s important to keep this original too.
As a watch enthusiast for 57 years, well acquainted with the industry, and a frequent visitor to Geneva, just my take: “A fool and his money are soon parted.” Never has that been so true as of today.
Hi, can i ask you a question about watches?
My advice to Alex is to stick with the low end casio’s. Best watches ever produced.