You can buy a perfectly reliable and accurate watch for £100 or you can buy one for £1million plus.   Of the top 10 brands, most have about 10 ranges each with about 10 models – plus the myriad of other lesser brands, so getting watch valuation prices accurate is very important.

It’s in the makers’ interest to ring the changes and bring out new models on a regular basis – no self-respecting Manchester United footballer’s wife could be seen today wearing a 2010 model Cartier watch and it’s not often a new model will sell for less than its predecessor, so a watch can quickly become underinsured.

With very, very few exceptions the second-hand value of a watch can be as little as a half or quarter of its new retail price of the current comparable model.  So from both the insured’s and the insurers’ points of view (and the watch valuer’s too!) it is very important to establish if the policy offers ‘new for old’ or ‘like for like’ cover.

There are only two UK based watch manufacturers so 99% of watches sold here are imported so are subject to currency fluctuation. Precious metal and gem stone prices are also prone to price changes – and as most of the top brand models are hand made the cost of skilled watch makers is an important factor in a watch’s retail price.

Condition can be an important factor and should be checked and commented on in a watch valuation.  Particularly in a precious metal watch with a bracelet rather than a leather strap where clasps, buckles and links can wear over time, there’s a risk of the watch falling off with consequent damage or loss.  Also, gem set watches should be checked for claw and setting wear – to source a suitable replacement stone and get it mounted by a skilled setter can be a very expensive exercise.

Watch fakes (or replicas!)

I must mention fakes – or replicas as the makers prefer to call them! 30 years ago the first Rolex fakes came on the scene and even to the untrained eye they were unconvincing, they weighed half what an original did, they often had quartz movements rather than automatic and  some even had spelling mistakes on the dial.  The 18 carat gold parts of the original watches were made of thin gold plate which could wear through in a couple of months. The new ones are very much better and can be embarrassingly convincing, however most of the better watch brands will have a numbering system, stamping an individual serial number on a watch and in some cases the model range number, so with a bit of research we can be pretty sure. Just a quick ‘trick of the trade’ note on fakes – since about 1980 all Cartier watches with roman numerals will have a secret ‘signature’ on the dial. You may need a quizzing glass or similar but look carefully at all the straight lines of the roman numerals and one of them will not be a line but is the name Cartier spelt out in tiny letters – it’s a detail very hard and expensive to replicate. Cartier change where this ‘signature’ is each year, so you can get an approximate date for the watch, also.

If the insured is in the position of having to buy a replacement for a lost or stolen watch we do recommend that for the major brands they go to an official agent.  There are many ‘on line’ sites offering very tempting discounts, but problems can occur with warranty and repair claims. Also, in the event of wishing to sell the watch, having original receipts, paperwork and boxes will add value.

We normally recommend an annual review and a revaluation every 3 years and a condition inspection every three.

Our watch valuation document will give full details of the watch, noting individual serial numbers and model references where possible, and a close-up photograph, so in the event of a claim or a ‘post loss’ identification situation.

Call us today to enquire about an appointment on 01883 722736 or email [email protected] or visit our website www.doerrvaluations.co.uk