Tag Archives: Patek Philippe

How Often Should I Have a Vintage Watch Service?

January 15, 2013 4:43 pm , Leave a Comment ,

A common question asked by those who have had a vintage watch passed on to them, or have spent a pretty penny buying one, is: how often should I have a vintage watch service? There’s a stigma about old mechanical items—be it a vintage Omega or a classic car—that says they will break down more often than a new item. While this may sometimes be true, it’s also important to keep in mind a vintage Rolex or vintage Patek Philippe are incredibly well made, by people who cared about their jobs and the products they were crafting by hand. There was no mass-production and workers carelessly clocking in and out when these watches were made. Because of this, they are often relatively easy to service and maintain when they do actually break.

Vintage 18k Yellow Gold IWC Schaffhausen Mens Watch, vintage iwc

Vintage 18k Yellow Gold IWC Schaffhausen Mens Watch

The first thing to do is take your vintage watch to a store that deals specifically in that brand of watch and see what they recommend regarding service times. Most manufacturers advise a vintage watch to be serviced every five years, though this obviously varies from brand to brand and the wear and tear the watch experiences. Some watches can run seven to ten years without needing service, running like—a perfect time for the expression—clockwork.

Vintage Jaeger LeCoultre Vacheron Constantine White Gold Watch

Vintage Jaeger LeCoultre Vacheron Constantine White Gold Watch

However, as with seeing a doctor, a check-up every five years or so isn’t a bad idea. Oils can be applied to the inner workings of these vintage watches to ensure that a more expensive or damaging malfunction does not occur in the near future. Water resistance and amplitude of the watch should also be tested during this check up, to make sure it is keeping proper time and is not allowing water to get into it when you wash your hands. This type of basic servicing will help to ensure your vintage watch lasts as long as possible.

Eli K for Raymond Lee Jewelers, South Florida’s premiere source for buying and selling luxury watches and designer jewelry.

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How to Invest in Watches

January 11, 2013 12:02 pm , Leave a Comment ,

For a savvy buyer, pre owned watches can be a lucrative investment. Be aware that while few well-made watches will lose value, to actually make money from a watch auction requires a knowledge of those gems that will appreciate in value.

Rolex Datejust Turnograph 16253, rolex boca raton, rolex watch, pre owned rolex

Rolex Datejust Turnograph 16253 Stainless Steel and 18K Men’s Watch

A pre owned Rolex will always carry a cache with collectors, and along with vintage Patek Philippe watches, Bregeut, Audemars Piguet, Omega, and Cartier, comprises a vintage watch market valued at over 5 billion euro globally. The internet has made finding some of the rarer watches at low prices more difficult, but by no means impossible.

Audemars piguet, Audemars Piguet Royal Oak Offshore, pre owned audemars, ap ebay

Audemars Piguet Royal Oak Offshore 18k Rose Gold Men’s Watch

The three prime qualities you should seek in a watch are:

Rarity: The rarer and more unusual a watch, the more appealing it will be to a collector. Not that any of these luxury timepieces could ever be considered common, but the best returns are made on watches that were made in limited production runs, or that were only deemed collectible later on, after many examples were lost. Prototypes, and new watches with wait lists are also good potential investments.

Authenticity: It goes without saying that when you buy a Rolex, you want to be buying an actual Rolex. That means staying away from shady salesman with trenchcoats. Always request documentation of your watch’s authenticity to be sure you are getting exactly what you are paying for. Patek Philippe is especially good at this, as the company keeps comprehensive records on every watch it has made. Collectors can verify the repair history of any watch before purchase.

Condition: Always carefully inspect a potential purchase for any blemishes or damage. The better a condition a watch is in, the better example it is of its type, and the more desirable it will be to a collector. Always buy the best-kept watch you can afford.

Matthew H for Raymond Lee Jewelers, South Florida’s premiere source for buying and selling luxury watches and designer jewelry.

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Eric Clapton Patek Philippe sells for $3.6million

November 23, 2012 5:42 pm , Leave a Comment ,

Eric Clapton’s Patek Philippe watch made news when it sold for $3.6 million at auction, but many luxury items sell for similar prices or higher.

Eric clapton watch, eric clapton patek philippe, eric clapton christies watch

via GQ

The platinum Patek Philippe wristwatch has 23 jewels, gold dauphine hands and a double Geneva seal. This purchase is close to the record for the most expensive auction watch, but this title went to the nearly $4 million J.B. Champion Chronometer, also made by Patek Philippe.

While Eric Clapton’s watch is extravagant, it is a fraction of the cost of the most expensive diamond. The 17th century Wittelsbach blue diamond is 35.56-carats and was owned by Spanish, Austrian and Bavarian royalty. The diamond sold for $23.4 million in 2008.

The world has never seen a jewelry collection like Liz Taylor’s, which earned a record for the priciest public collection. Pieces sold for a total of around $118 million and included:

  • Taj Mahal Diamond, $8.8 million
  • Diamond-sapphire ring from Michael Jackson, $600 thousand
  • 33.19-carat diamond ring from Richard Burton, $8.8 million
  • La Peregrina pearl necklace, $11.8 million

The Patek Philippe watch is a wonderful item but is only one marvelous piece in a sea of treasures.

f diamonds are a girl’s best friend, the Wittelsbach would make one heck of a BFF. The 35.56-carat blue diamond dates back to the 17th century, when King Philip IV of Spain selected the jewel to be part of his daughter’s dowry. The diamond passed among Austrian and Bavarian royalty for centuries, but after World War I Bavaria became a republic and the jewel was repossessed by the state. Christie’s auction house tried to sell it in 1931 but apparently found no buyers. The diamond disappeared for a few decades only to resurface in 1962. A private collector purchased it in 1964, but sold it in 2008 for $23.4 million.

Nicole C for Raymond Lee Jewelers, South Florida’s premiere source for buying and selling luxury watches and designer jewelry.

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How to do Out of State Watch Repairs

November 1, 2012 4:36 pm , Leave a Comment ,

For various reasons, you may find yourself in need of an out-of-state watch repair workshop. Whether you live in a remote area, your local jeweler isn’t equipped or authorized to service your watch brand, or you’d like to have your watch repaired for less, you may need to send your watch for out of state repairs. And while the thought of sending a valuable luxury watch through the mail may be disconcerting at first, rest assured that it can (and has been) done.

Rolex Gents Two Tone Datejust Tapestry Dial Watch

Rolex Gents Two Tone Datejust Tapestry Dial Watch

We perform out of state watch repairs daily, and following these easy steps will ensure your favorite timepiece is serviced and ticking again in no time.

  1. Get quotes from local jewelers. If you live near a jeweler or authorized watch workshop, it’s best to check locally first so you can compare prices before sending your watch.
  2. Reach out to an expert jeweler. You should be able to call or email them, or fill out a form on their website. Likely, their watchmakers will first need to see your watch to determine the cost and turnaround time for any repairs. However if you need a simple battery change or routine service, they can give you a quote before you send it in.
  3. Send your watch securely. You can use USPS, FedEx, or UPS to ship your watch, insured for its last appraisal value. You should be given a discreet address, so the shipping label doesn’t indicate the package’s contents. Enclose any copies of correspondence, you might have had via e-mail, or a note with your name and contact information.
  4. Use your tracking number to confirm with the jeweler that they’ve received your watch. Typically, they’ll contact you first with the official quote and to have you authorize any repairs.
  5. Your watch will be shipped back (securely) to you, fully serviced and repaired!
Patek Philippe 24 I8K Rose Gold Ladies Watch

Patek Philippe 24 I8K Rose Gold Ladies Watch

The process is easy, straightforward, and convenient for out-of-state customers, or those who can’t make it to the showroom in person. And if you have any questions about our own mail in watch service, you can always give us a call at 1-800-329-4367!

 

 

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I shot the sheriff, but I did not shoot the Eric Clapton Patek Philippe

September 28, 2012 9:00 am , Leave a Comment ,

Eric Clapton, guitar legend, rock star, and watch collector, will auction one of his prized watches on November 12th. The sale will take place at the Geneva Four Seasons Hotel in an auction that will also include a diamond estimated to be worth $25 million. However, watch collectors will see Clapton’s platinum Patek Phillippe as the real prize.

What’s so special about this watch? It’s one of only two of this model made in platinum in the world.

You read that correctly; there are only two of the Patek Philippe Ref. 2499 platinum watches in existence. The fact that the second of the pair resides in the Patek Philippe museum only makes this watch more valuable. Collectors are speculating the watch could sell for between $2.6 and $4.2 million.

Any Patek reference 2499 is rare. In 35 years of production, only 349 pieces were produced. That’s approximately nine watches per year; just the model itself is hard to find. The majority of these watches featured yellow gold cases, making the platinum case even more valuable. Once you include the fact that this watch is currently owned by a rock legend, the value of this watch starts to make sense.

This watch was produced in 1987, and is a classic example of Patek Philippe elegance and design. It features a perpetual calendar chronograph and a moon phases display. The round face, lugs, and dials are classic Patek hallmarks, combining to create a classic beauty.

Eric Clapton's Patek Philippe Ref. 2499 Watch

This watch was first sold to a European collector in 1989 at an auction celebrating the 150th anniversary of Patek Philippe. It was sold again before Clapton added it to his already impressive watch collection. This November, for just a few million dollars, it could belong to you.

Brad P for Raymond Lee Jewelers, premiere fine jewelry and luxury watch boutique and buyer.

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