ime is precious and so are the watches that stay with us through good times and bad times. Remember your first watch or the one given to you by your grandfather along with a story of how and from where it was bought, or the one that was gifted to you by a dear one on a special occasion? Each one is associated with a fond memory and has an emotional link. But another hard fact is that over the years most of us push these into the dark and dusty recesses and corners where these lie unused and forgotten. Many do not realise the heritage value of watches. As with limited edition prints, a watch of supreme excellence is also limited and will increase in value. There is a universal appeal and excitement in owning a piece of history and your heirloom is just that.This is what motivated owners and lovers of antique watches in and around Chandigarh to get together to form the Passion-For-Time-Watch Heritage Club, the first of its kind in the country, last year. The club was started by a small group in the city. But it picked up soon and was successful in holding an exhibition of 60 heritage watches within two months of its birth. Now it is going national with members from Delhi, Kolkata and Bangalore.
According to Mr Yasho Saboo, president of the club, “heritage watches are 40 years old or more. They are collectors’ pieces and worth a lot of money, especially if they have historical value or they have technical complication or are unique in some way. Last year in an auction in Geneva, Switzerland, a Patek Philippe platinum world time watch was sold for SFR 6.60 million (approximately 25 crore), an all time record”.
Since long expensive watches have been passed on from one generation to another. While this is more true for men women too have owned and bequeathed special watches. In India we do not throw things and cherish them as part of memories of persons and times past. Besides having antique value watches are also repositories of strong emotions like wedding, graduation, grandfather-to-son-to-grandson traditions. So there is a whole treasure trove of watches in our country just waiting to be discovered, he says.
The club already 35 members from the city and its surrounding areas. Members are from all walks of life. One member, a retired school principal, has an 18 k gold pendant watch circa 1900 with an enameled portrait of Guru Nanak Dev; another, a school teacher, owns a Titoni-Cosmos 88, circa 1940, that was passed on to her by her parents; a retired Army Colonel owns a special model of Omega- Hologeria Centrale-Addis Abba that he bought from Congo in early 1940s; an industrialist with a Jaeger LeCoultre circa 1940 and an Omega 18k pocket watch circa 1940 passed on to him by his grandfather; a piece of history is a watch that was gifted to a member of the royal family of Gwalior by Ms Jinnah and another that was worn at the time of the formation of Bangladesh. The oldest watch that was displayed at the exhibition was an 18k Benson pocket watch circa 1895.
Appraising the value of antique watches is one of the most important services that the club aims to provide. As with any old object appraisal is not definite as it is principally based on perceived value. However, there are certain guidelines that one can follow to arrive at a fair market price. The club will associate with the data-banks of the brands to make the assessment as correct as possible. The club is also looking at a possibility of creating a web-based market of antique watches.
“Watch collecting is a fast growing hobby and also a business. India saw lots of watch restorers prosper after buying old watches and selling them at huge premium,” says Mr Saboo.
Another factor that has made watches unique collectibles is the intricate workmanship with which they are put together. Many of the watches which were assembled with extreme accuracy and fine workmanship continue to be reliable timepieces even today. Also unlike jewellery these can not be recast. This makes watches unique heritage items.
Watch auctions are held regularly in Europe and USA and from prices fetched by some watches even 50-70 years old show how valuable old and rare watches can be.
The club has 80 antique watches and is planning to hold a week-long exhibition from March 29 at Ethos, a watch retail store in the city. All those who own watches 40 years or older can become members of the club for free just by filling a membership form.
If this has triggered a bout of nostalgia then revive that emotional link with time by taking out that forgotten Rolex and who knows you may discover that you own a precious heritage piece.
