AuctionsOct 24, 2025
Bonhams Under New Ownership, Top Executives ReplacedLondon-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.
WatchesMar 07, 2017
Ask the Watch Guy: How to Make Money on Vintage Watches
National Jeweler’s “Watch Guy,” Jess Gendron, tells jewelers how to profit from older timepieces.
Jess Gendron is a seventh generation watchmaker, having learned by his father Dan Gendron’s side since childhood. He can be reached at talktothewatchguy@gmail.com.
From time to time, I get calls from jewelers wanting to know something about a vintage watch. Many times it’s either for an appraisal or something in an estate. Vintage watches are an easy sale for most jewelers but to do it profitably, you must have information.
First, let me say that I do not have any stock or interest in the publishers of the book I’m going to explain to you. Jewelers have books on many subjects, but seldom have what we in the watch trade consider a “must-have.”
The book is “The Complete Price Guide to Watches.” This book gives you everything at your fingertips: watch company histories, illustrations of watch karat and silver markings dating back to the 1600s, and buying market prices for virtually every mechanical watch ever made (and a few quartz watches as well).
In every town and city in America, there are people who call themselves “pickers,” “bird dogs” and the now-ubiquitous “storage unit buyers,” like those you see on TV. Most know nothing about watches, but they know enough to go see someone who really knows. These people can be an endless stream of profits, and you can become their go-to place.
I have had pickers come into my store with some very unusual finds. Last year someone came in with a box of broken watches. Most were the kind of stuff that we remove backs and buckles from for parts and throw away everything else, but in among the usual broken fashion watches was a gem. The gem was a Zenith “El Primo” triple register chrono. The watch needed repairs and had a few missing parts.
I paid her what she insisted on before making this find. She wanted $50 for the approximately 10 pounds of junk. With the way we use that kind of stuff, it wasn’t a bad deal, even without the El Primo.
Upon inspecting the load I found the Zenith, looked it up on eBay and found that the watch sells for $3,000. Getting parts for a Zenith El Primo is nearly impossible, so I sold it on eBay as a “for parts or repair” watch. A buyer in Germany snapped it up at $1,300 and was thrilled. So was I.
I could go on and on about the finds I have made using this way. Suffice it to say, it’s a thrill a minute.
Pawn brokers,
as a general rule, only buy watches they are familiar with, e.g., Rolex, Omega, etc., but pass on most everything else they are offered. Now, what might they be turning down?
Here are a few ideas:
--Antique Pocket Watches
--Vintage Omegas
--Vintage Bulovas
--Vintage Hamiltons
--Vintage Longines
Buying gold and diamonds is a crowded field. With an inventory of these type of watches, you can become the vintage watch place to go to in your area.
So now the question is, how do you get these people into your store?
It’s very simple: Craigslist. Once you put up some “We buy watches, running or not” ads on Craigslist (or in a small classified ad), you might be amazed at who comes through your door to buy, as well as at the collectors who come in looking for what you are selling.
You don’t want to buy at the retail price or even at the book prices. If you are going to buy off the street, you’re going to have to know how to rate a watch.
For example, let’s say someone brings you an Omega Seamaster from the 1960s-1970s, and the book value is $700. Now, take a close look at the watch, including the following factors:
--Condition of the case;
--Condition of the crystal;
--If the watch is running;
--Condition of the band (check that it is original; otherwise, it’s like the band is not there); and
--If the original box is available (Most brands become much more salable with the original box. In fact, some boxes are worth as much as the watch.)
As a general rule, it’s a good idea to presume the watch needs service--clean, oil and adjust at minimum. If you know what the typical charge for this is, remove it from your offer. Basically, we just do a balance sheet. If the watch needs a crystal, remove the cost of a crystal from the offer. If it needs a band, deduct that, etc.
Some original bands are worth more than the watch. If you see a price in the “Complete Price Guide” book that shows “with original band,” pay attention. My everyday watch is an Omega Seamaster, for which the original band costs $800 at wholesale. Without it, my watch would be worth about $800 instead of $1,600.
Also, Ebay prices can be used as a quick sale retail price reference. But make sure you are looking at “Sold” or “Completed Auctions,” rather than just the listing price (you can do this in eBay’s Advanced Search. Don’t think that just because someone is asking $8,000 for a Rolex, it will actually sell at that price.
Now, deduct the shortcomings before setting your buy price.
In setting my sale price, I use a straight keystone markup on these items. For example, if you bought the aforementioned Omega for $200 off the street and paid someone to service the watch at a cost of $150, now your total cost is $350. If you sell at keystone, price the watch for sale at $700. Of course, if you can repair your own watches, your profit becomes that much higher--more on this in future articles.
For making the sale, the more you know about a watch and the company that made the watch, the better. “The Complete Price Guide to Watches” is a wealth of information for that, and it’s also interesting reading.
Jess Gendron is a seventh generation watchmaker, having learned by his father Dan Gendron’s side since childhood. Jess Gendron is now the owner of Colorado Timeworks, a watch repair service center in Colorado Springs. He can be reached at talktothewatchguy@gmail.com.
Here are a few ideas:
--Antique Pocket Watches
--Vintage Omegas
--Vintage Bulovas
--Vintage Hamiltons
--Vintage Longines
Buying gold and diamonds is a crowded field. With an inventory of these type of watches, you can become the vintage watch place to go to in your area.
So now the question is, how do you get these people into your store?
It’s very simple: Craigslist. Once you put up some “We buy watches, running or not” ads on Craigslist (or in a small classified ad), you might be amazed at who comes through your door to buy, as well as at the collectors who come in looking for what you are selling.
You don’t want to buy at the retail price or even at the book prices. If you are going to buy off the street, you’re going to have to know how to rate a watch.
For example, let’s say someone brings you an Omega Seamaster from the 1960s-1970s, and the book value is $700. Now, take a close look at the watch, including the following factors:
--Condition of the case;
--Condition of the crystal;
--If the watch is running;
--Condition of the band (check that it is original; otherwise, it’s like the band is not there); and
--If the original box is available (Most brands become much more salable with the original box. In fact, some boxes are worth as much as the watch.)
As a general rule, it’s a good idea to presume the watch needs service--clean, oil and adjust at minimum. If you know what the typical charge for this is, remove it from your offer. Basically, we just do a balance sheet. If the watch needs a crystal, remove the cost of a crystal from the offer. If it needs a band, deduct that, etc.
Some original bands are worth more than the watch. If you see a price in the “Complete Price Guide” book that shows “with original band,” pay attention. My everyday watch is an Omega Seamaster, for which the original band costs $800 at wholesale. Without it, my watch would be worth about $800 instead of $1,600.
Also, Ebay prices can be used as a quick sale retail price reference. But make sure you are looking at “Sold” or “Completed Auctions,” rather than just the listing price (you can do this in eBay’s Advanced Search. Don’t think that just because someone is asking $8,000 for a Rolex, it will actually sell at that price.
Now, deduct the shortcomings before setting your buy price.
In setting my sale price, I use a straight keystone markup on these items. For example, if you bought the aforementioned Omega for $200 off the street and paid someone to service the watch at a cost of $150, now your total cost is $350. If you sell at keystone, price the watch for sale at $700. Of course, if you can repair your own watches, your profit becomes that much higher--more on this in future articles.
For making the sale, the more you know about a watch and the company that made the watch, the better. “The Complete Price Guide to Watches” is a wealth of information for that, and it’s also interesting reading.
Jess Gendron is a seventh generation watchmaker, having learned by his father Dan Gendron’s side since childhood. Jess Gendron is now the owner of Colorado Timeworks, a watch repair service center in Colorado Springs. He can be reached at talktothewatchguy@gmail.com.
More on Watches
The Latest
GradingOct 24, 2025
DMIA to Hold Diamond Testing Instrument DemoThe workshop will give attendees the chance to try out and ask questions about three different diamond verification instruments.
CrimeOct 24, 2025
Video Emerges of Louvre Jewelry Robbers Fleeing the Scene The footage shows two of the jewelry heist suspects descending from the second floor of the museum and then escaping via scooter.
Brought to you by
DESERT DIAMONDS: The Newest Trend in Natural Diamond JewelryFrom sunlit whites to smoky whiskeys, introduce your clients to extraordinary diamonds in colors as unique as their love.
CollectionsOct 24, 2025
Piece of the Week: Wyld Box Jewelry’s ‘Ray of Light’ EarringsFounder and designer Rosanna Fiedler looked to a vintage Cartier clutch when designing the sunlight-inspired drop earrings.
Weekly QuizOct 16, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsOct 23, 2025
Jewelry Sales Resilient Despite Struggles at LVMH, KeringThe luxury conglomerates faced a challenging Q3 amid geopolitical and economic tensions.
SourcingOct 23, 2025
Petra Diamonds Turns to Shareholders to Raise Capital The struggling diamond mining company, which owns the historic Cullinan mine, has launched a rights issue to raise about $25 million.
Brought to you by
Are Earrings an Overlooked Category? What Retailers Need to Know NowAs the holiday season quickly approaches, consider stocking one category that sometimes gets overlooked: earrings.
AuctionsOct 23, 2025
Freeman’s | Hindman Names New VP, Senior Specialist for Jewelry & WatchesAlexis Vourvoulis, who most recently worked at Tiffany & Co., brings more than two decades of jewelry experience to her new role.
TrendsOct 22, 2025
The Taylor Swift Effect: Antique Diamonds EditionThe superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.
TrendsOct 22, 2025
Don’t Forget These Diamond Jewelry Trends When Stocking for the HolidaysRetailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.
AuctionsOct 22, 2025
Pink Diamond, Vanderbilt Jewels to Headline Phillips’ Geneva AuctionThe nearly 7-carat fancy vivid purplish pink diamond could sell for around $9 million.
SourcingOct 22, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.
CollectionsOct 22, 2025
Tiffany & Co.’s ‘Bird on a Rock’ Finds New PerchChief Artistic Officer Nathalie Verdeille has reimagined the iconic design in both figurative and abstract creations.
Events & AwardsOct 22, 2025
JFC Kicks Off Halloween Costume ChallengeFive dollars buys one vote toward an industry professional you want to see dressed up as a hero, or a villain, this Halloween.
Events & AwardsOct 22, 2025
Hillsborough Antique Show Gets New OwnerRecently acquired by KIL Promotions, the November edition of the public show in San Mateo, California, will be held Nov. 7-9.
GradingOct 21, 2025
GIA Examines Rare Bicolor Pink DiamondThe stone’s two zones, one pink and one colorless, may have formed at two different times, the lab said.
MajorsOct 21, 2025
Pomellato Brings ‘Global Attitude’ to Rodeo Drive FlagshipHollywood glamour meets Milanese sophistication in the design of Pomellato’s new store in Beverly Hills, California.
Lab-GrownOct 21, 2025
Grown Brilliance Opens First FlagshipThe New York City store showcases a chandelier with 1,500 carats of lab-grown diamonds designed by an FIT student.
Events & AwardsOct 21, 2025
‘Douriean Fletcher: Jewelry of the Afrofuture’ Opens at MADThe Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.
AuctionsOct 20, 2025
Sotheby's To Auction 10-Carat Vivid Pink DiamondMaking its auction debut, "The Glowing Rose" is expected to fetch $20 million at the November jewelry sale in Geneva.
SourcingOct 20, 2025
2 Mozambique Police Officers Killed at Gemfields’ Ruby MineThey were attacked on Oct. 15, as approximately 40 miners without licenses marched on the mine’s gate.
CrimeOct 20, 2025
See the ‘Priceless’ Jewels Stolen During Daytime Heist at the Louvre It took the masked thieves less than 10 minutes to steal eight irreplaceable jewels from two display cases in the museum’s Apollo Gallery.
SourcingOct 20, 2025
Pristine Gems Names New Director of European SalesGemologist Lauren Gayda has previously worked at The Clear Cut, Taylor & Hart, and Effy Jewelry.
IndependentsOct 17, 2025
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer will celebrate a milestone only a small percentage of family-owned businesses survive to see.
Events & AwardsOct 17, 2025
An Edit of Italian Jewels Is Coming to NYCThe new showcase dedicated to Italian jewelry design is set for Oct. 29-30.
TrendsOct 17, 2025
Piece of the Week: Judi Powers Jewelry’s ‘Stella’ EarringsTake a gaze at the sky with this pair of platinum diamond-set star earrings with blue lace agate drops.
