What To Know About The Vintage Watch Collection?
September 13, 2021
It further exploits the concept of scarcity since many brands precisely control the quantities produced to ensure that the supply is always below the demand. The Rolex Daytona is an excellent example of this practice. In the late ’80s and early 90s, waiting lists for various Daytona references hovered around three years and could even reach six years. This resulted from a particular policy on the part of Rolex oyster perpetual, which inflated prices while producing a minimum number of parts each year.
And when factories manufacture too many watches concerning demand, it happens that the companies or groups that own the brand of the watch in question themselves buy the surplus to sell it personally at the pace that suits them. This was the case, for example, with Richemont, owner of Cartier, IWC, Piaget, Officine Panerai, Jaeger-LeCoultre, and so on, which bought back almost $ 300 million of overproduction of watches at a time when demand was stagnating. The result of this operation: Cartier sales exploded, and prices reached new heights.
The concept of rarity is often combined with the concept of seniority. The older a precise watch reference, the less likely it is to find one in good condition. Seniority, therefore, directly influences scarcity. We can take the example of the Rolex Sea-Dweller, which we have already discussed in detail on our site. It was first presented to the public in 1967. Before that, a few prototypes had been produced in ultra-limited quantities.
The chances of finding a pre-1967 Sea-Dweller prototype today, known as the “Single Red Sea-Dwellers” because of their single red inscription line on the dial, are slim. Over time, watches have been lost, destroyed, altered, etc. Therefore, it is no surprise that among the dozens of different Sea-Dweller references that have been around since 1967, these ultra-rare and ultra-old prototypes are worth the most money. A sale of one of these jewels amounted to 500,000 dollars in 2012.