Is it still worth investing in vintage watches?

The short answer is: yes, but it's no longer a "secret" and requires much more knowledge, patience, and focus on quality than 10 or 15 years ago. Vintage watches have become a desirable asset not only for collectors but also for those looking to protect capital in physical pieces with history and limited production.

Vintage watches combine three factors that are hard to find in other goods: utility, scarcity, and emotional value. They are objects used daily, which cannot be simply "reprinted" like money, and often mark important moments in the lives of those who buy or gift them.

In recent years, some segments – such as steel sports watches from brands like Rolex or Omega – have appreciated very sharply, which has brought more attention, but also more speculation and inflated prices. Today, it is riskier to buy "just any old thing" with appreciation in mind; the focus must be on quality, originality, and the piece's history.

For those considering investing, it is essential to understand that vintage watches are not a liquid and immediate investment like stocks or deposits. Selling well can take time, requires a network of contacts, market knowledge, and often recourse to auction houses or specialized resellers who charge commissions.

The positive side is that, unlike many financial assets, a well-chosen vintage watch can be worn and appreciated daily while maintaining, or even increasing, its value over the years. Iconic pieces from strong brands and in good condition tend to have consistent demand, even when the market slows down.

Still, there are clear risks: increasingly sophisticated fakes, "frankenwatch" pieces (assembled with components from various watches), aggressive restorations that destroy the original charm, and passing fads that can inflate references for a few years only to then fall out of interest.

To reduce risks, it helps to follow some principles: buy the best condition your budget allows, prioritize watches with original parts (dial, hands, bezel, bracelet), always ask for high-resolution photos and, ideally, documentation or service history. When possible, buy from sellers with a solid reputation and verified reviews.

Another good strategy is to focus on niches you know well. Instead of trying to "get everything right," it might be smarter to specialize in 2 or 3 brands or types of watches, following forums, auction results, and what experienced collectors are buying or selling.

It's also advisable to align expectations: vintage watches should be seen as part of a diversified portfolio, not as the sole investment. Selecting a few well-researched pieces, from strong brands and with good documentation, tends to be a more solid approach than accumulating many mediocre watches.

If you're interested in starting or expanding your collection, the ideal next step is to define your profile: do you primarily want to wear, collect, or invest first and foremost? From there, it becomes much clearer what type of vintage watches to look for and how to balance passion with financial prudence.

Of course, on top of all this, reinforce with much research, study, and advice from people who truly understand the subject and can guide and advise you.