Celebrating 300 years since its foundation in Vienna by Emperor Joseph I in 1707, Dorotheum is the largest auction house in German-speaking Europe.
It is also a market leader in central Europe and one of the oldest and largest auction houses in the world.
The company holds monthly watch auctions which puts it in a good position to analyse and evaluate the market, with the result being that the trade in pre-owned timepieces is still stable and that popular models continue to increase in value.
Approximately 200 to 300 pieces go through Dorotheum auctions on a monthly basis with collectors and investors buying high-quality wristwatches as material assets with a potential to increase in value while enjoying wearing them.
Specifically, like the stock market, watch auctions have some international “blue chips” that are very likely to increase in value too.
As part of the houses work with an international buyer and seller market, high-priced luxury watches, collectibles and limited editions change hands at Dorotheum every week.
Reflecting on the work it does, the auction house explained: “As on the stock market, there are also international ‘blue chips’ in watches that promise good opportunities for increases in value in the auctions.
“The luxury watch manufacturers from Switzerland and Germany are mainly represented here. The best-known and most successful brands include Patek Philippe, Rolex, A. Lange & Söhne, Omega, Audemars Piguet and Vacheron Constantin,” explains the auction house.”
It went on to detail how essentially, the movement is key. Watches with mechanical movements offer the best chance of stability and rising prices, with preference given to the so-called manufactory movements.
“Daytona”, “Nautilus”, “Royal Oak”, “Speedmaster” or “Reverso” are just a few examples of watch models from well-known manufacturers that have a large fan base and have thus acquired a certain cult status.
This potential for value increases even further with a corresponding “cult” story, provided that they were worn by well-known actors and film heroes such as Paul Newman or James Bond.
“You should avoid fashion trends when buying,” advises the auction house.
It went on to explain how it is also important to choose the right marketplace for buying or selling pre-owned watches.
Concluding: “Large, international auction houses such as the Dorotheum offer both buyers and sellers a high degree of security and competence in order to be able to achieve the best prices in the auctions.”
