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Desperately Seeking Silver – Continental European Silver

Desperately Seeking Silver - Continental European Silver
A sumptuous place-setting of gilt 19th century (pre-1888) German silver flatware. The set is marked “Freidberg 12 Loth Silb”, indicating a fineness of 75%. These pieces are very heavy and ornately decorated – both signs of good quality silverware.

The mobile computing revolution has taken over the world – and our lives along with it. Smart phones, tablets and laptops are ubiquitous in today’s society. They keep us connected to the world in ways unimaginable a mere few decades ago

But some would argue that they really hold us captive, making us slaves to work, the 24 hour news cycle and even our friends. Somehow, amid all the texts, tweets and pics we forgot our birthright.

You will not bequeath your iPhone to your grandchildren. Your Amazon Kindle tablet will not become an heirloom treasured by future generations. But there are some parts of our illustrious patrimony that can be readily reclaimed by those who are willing. Among them is beautiful, useful and durable Continental European silverware, an investment that will surely be cherished for many generations to come.

Continental European silver is the perfect intersection of pragmatic serviceability, uncompromising old-world craftsmanship, and hidden value. For hundreds of years, solid silver flatware and hollowware has been used as a store of value and a signifier of noble status. And today it is possible to acquire fine Continental European silver originating from France, Germany, Russia or other European nations for relatively modest sums.

Most pieces encountered today were manufactured between the early 19th century and the mid 20th century, although it is still possible to occasionally find specimens from the 18th century. In contrast to the British sterling standard of 92.5% fineness, Continental European silver was crafted in purities varying from 75% fine to over 95% fine. Regardless of these inconsequential differences in fineness standards, Continental European silver can easily match, or even surpass, British silver in terms of workmanship and artistry.

Continental European silver is usually less expensive than its British equivalents. The primary reason for this is because Great Britain has a very consistent and well documented hallmarking system that has been in place since medieval times. This makes British sterling silver easily attributable to not only maker, but also city and year of manufacture.

Continental European silver, in comparison, has a plethora of confusing and poorly recorded hallmarks that can make identification challenging, or sometimes even impossible. As a result, collectors of high quality silver have traditionally tended to gravitate towards the more easily identified British pieces, driving up their prices. This has created a unique opportunity for the savvy connoisseur to acquire stunningly beautiful Continental European silver at very attractive prices.

 

Antique French Silver-Gilt Tableware for Sale on eBay

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Often gilt, French silver drips with remarkably beautiful floral, scrollwork or ribbon motifs. It possesses an organic je ne sais quoi that appeals to the most discerning of collectors. The most prominent French silversmith is the venerable firm of Puiforcat, a maker of highly coveted silver for over 150 years. The French hallmarking system was one of the first to go decimal in the world, doing so shortly after the French Revolution.

There are primarily two different French silver finenesses that are encountered: first standard at 95% silver and second standard at 80% silver. Both are denoted on most items by the Minerva’s head hallmark accompanied by either the number “1” or “2” beside the head of the goddess, depending on the standard.

German silversmiths produced silver in similar, although ever so subtly more reserved, styles compared to their French counterparts. However, Germany produced silver to just as high a standard as the French. German silver tends to feel a bit heavier and more solid than similar pieces by French silversmiths.

The pre-1888 fineness standard for silver in the German States was the loth (or lot) system, with 16 loth corresponding to 100% fine silver. Usually German silver is found hallmarked with 12, 13 or 14 loth purities, which translates into finenesses of 75%, 81.25%, and 87.5%, respectively. In 1888 Germany adopted a unified hallmarking system that employed the familiar decimal standard. A crescent moon and crown hallmark beside the number “800”, representing 80% fineness, is the typical mark found on these later pieces.

 

Antique German Silver Tableware for Sale on eBay

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Russian silver usually exhibits bright-cut designs in a flat, two-dimensional style that is almost medieval in its texture. Russian silversmiths also indulged in profuse gilding of their creations, recalling the gold-leafed onion domes that are so iconic in Russian architecture.

Russian silver’s other trademark techniques are niello and cloisonné enamel. Niello is a mixture of silver, copper, lead and sulfur that is selectively applied to the surface of a silver object, producing a high contrast between the hematite-colored niello and bright silver.

Cloisonné enamel is produced by using wire to segment the surface of a metal object into many different cells to form a pattern or design. Powdered enamel is then carefully put into the cells, each one with a different color. The entire piece is then fired in an oven at a high temperature, causing the powdered enamel to liquefy and become glass-like. The result is a stunningly colorful glass-mosaic-over-metal effect.

These unusual techniques cause Russian silver to be very distinctive from what was produced in the rest of Europe contemporaneously.

Russian silver falls into two broad categories: pieces from the Soviet Era, post 1917, and those from the Czarist era, pre-1917. At the current time, silver from the Czarist period is in high demand and hence more expensive than silver from the Soviet period. It should also be noted that Russian pieces are generally somewhat more expensive than other Continental European silver.

The Czarist Russian fineness standard was based on 96 Zolotniks, which equals 100% pure silver. The two alloys usually encountered are 84 or 88 Zolotniks, equivalent to 87.5% and 91.67% silver, respectively. As in so many other countries, hallmarking was switched over to the decimal system in the 20th century during the Soviet era.

 

Antique Russian Silver Tableware for Sale on eBay

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A magnificent set of gleaming Continental European silverware at an upscale dinner party conveys the elegance and sophistication of its host far better than an iPhone. And one doesn’t have to be a member of a centuries old noble family to purchase such pieces either.

Flatware and small hollowware items start around only $100, while full tea sets or 12-person place-settings can run into the several thousand dollar range. And sometimes these sets can even be found in their original presentation boxes, something that boosts their desirability and value even further.

In a time when most people clamor for the dubious benefits of the latest tech gadget, devoting some money to a set of exquisite Continental European silver will surely prove a shrewd financial move.

 

Read more in-depth Antique Sage antique silver investment guides here.


Stacked Wealth – Vintage Silver Bullion Bars

Stacked Wealth - Vintage Silver Bullion Bars
An assortment of poured vintage silver bullion bars in 5 and 20 troy ounce sizes manufactured by SilverTowne, JPM (Jackson Precious Metals) and Johnson Matthey. The SilverTowne bars pictured are actually vintage issues, fabricated before the company resumed pouring new silver bars recently.

Promises, promises, promises. The world is full of promises that aren’t kept. Lovers softly coo sweet lies to their partners. Politicians solemnly swear to implement government reforms they know will never happen. Friends cheerfully, if falsely, pledge to reimburse you for their excessively high bar tab after cajoling you into paying.

Likewise, the financial world is full of promises that won’t be kept either. The city of Detroit’s pensions, Lehman Brother’s commercial paper and Greece’s sovereign debt all are pertinent, timely examples of financial promises broken.

And there is undoubtedly more where that came from. The old saying still holds true, “What cannot be paid back, will not be paid back.” However, there is at least one investment that will earnestly keep its vows: vintage silver bullion bars.

Possessing many outstanding properties, silver is the quintessential metal. It is not only mesmerizingly lustrous but also extraordinarily reflective. Silver is the best conductor of both heat and electricity among all elements. Its exceptionally high density (10.5 grams per cubic centimeter) exceeds that of both copper (9.0 g/cm3) and iron (7.9 g/cm3). Unlike most metals, silver is extremely resistant to chemical attack, tarnishing only in the presence of highly corrosive substances such as ozone, sulfur or the halogens (like chlorine).

These compelling physical properties have contributed to silver’s use in a plethora of industrial, scientific and monetary functions. But perhaps silver’s most ancient use – as a store of value – is still its best. A vintage silver bar, with its unmistakable heft and soft metallic glow, is the near perfect embodiment of tangible wealth.

There is something truly mesmerizing about vintage silver bullion bars. Their chunky style, rounded corners and slightly irregular surfaces are immediately, viscerally attractive. An old silver bar’s finish may be wonderfully patinaed from decades of storage, or as seductively lustrous as the day it left the mint, or even subtly frosted as if coated by a million tiny sugar crystals. Bullion bars evoke time-honored financial traditions, when physical wealth could be firmly held in the palm of your hand. Vintage silver bullion bars gently whisper to be treasured and possessed.

 

Poured Vintage Silver Bullion Bars for Sale on eBay

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Silver bars are fabricated in three basic ways; they are struck, extruded or poured. Most modern bullion bars are made via striking or extrusion. Today, smaller bars are usually struck while larger bars can be either struck or extruded. Silver bars created via striking or extrusion typically have very crisp details and a mirror like finish. They are unmistakably machine-made and lack the charming surfaces and mellow patina of older hand poured bars. The striking and extrusion methods, being amenable to automation, have almost completely displaced pouring as a manufacturing method.

In contrast, poured bars are created via casting molten silver into a mold and then allowing it to cool. Finally, the bar is removed from the mold and carefully struck with its weight, fineness and maker’s mark. Poured bars are oftentimes hand cast and thus significantly more labor intensive to make than struck or extruded bars. This has resulted in few refineries continuing the venerable tradition of fabricating silver bars in the old style.

One highly coveted type of poured silver bar frequently encountered is the “loaf” shape bar. These loaf-style bars are very thick and chunky with extremely rounded corners. This gives them the characteristic shape of a miniature loaf of bread. Another shape commonly found is the “kit-kat” style bar. These bars, while also thick and chunky, have somewhat sharper corners, giving them the form of an oversized kit-kat candy bar. Some vintage kit-kat style silver bars were extruded instead of poured. However, if genuinely older, these extruded kit-kat bars are still quite desirable.

 

Loaf Style Vintage Silver Bullion Bars for Sale on eBay

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The 1960s to the early 1980s were the heyday of poured vintage silver bullion bars. As the global inflation rate started to rise in the early 1960s, people began looking for alternative, inflation-resistant investments. Consequently, demand for small and medium sized silver bars skyrocketed during this period. Private refiners and mints thrived as the inexorably rising price of precious metals translated into healthy demand for their products.

However, it all quickly unwound after silver prices experienced a bubble peak early in 1980. The public reacted to the bubble by quickly dumping its collective silver stash on the market. This led to massive amounts of fine sterling silverware, rare silver coins and beautiful vintage poured silver bars being thrown into the melting pot. It is a tragedy that most of these unique, old silver bars ended up exiting refineries as soulless 1,000 troy ounce COMEX good delivery bars.

A wide variety of reputable refineries, both large and small, manufactured poured vintage silver bullion bars. Some of the old bar makers frequently encountered include Engelhard, Johnson Matthey, GA (Golden Analytical), Star Metals, NCM (Nevada Coin Mart), JPM (Jackson Precious Metals), Academy, CCM (California Crown Mint) and Phoenix Precious Metals. All of these companies are now either defunct or no longer produce silver bars.

Engelhard, for example, was the world’s leading silver bar manufacturer from the 1960s until the mid 1980s. But the company only made poured silver bars earlier in that period, later switching over to struck/extruded bars. Engelhard completely ceased silver bar production after the mid 1980s.

Due to high demand, a handful of companies have resumed production of poured silver bars. SilverTowne L.P., Scottsdale Mint, Prospector’s Gold & Gems, Monarch Precious Metals, Atlantis Mint, Yeager’s Poured Silver and Bison Bullion currently (as of 2015) produce poured silver bars. These seven refineries’ poured silver bars are recent and should not be confused with genuine, older poured bars.

Although they are not investment vehicles on par with vintage issues, these newer poured bars are still an exceptionally beautiful way to own silver bullion and might acquire collector’s status over time. Because they are still being manufactured today, pricing is competitive with other modern struck and extruded bars on the market.  If you are interested in finding out more about new poured silver bars you can read my article titled “The Investment Case for Hand-Poured Silver Bars“.

 

New Poured Silver Bars for Sale on eBay

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Poured silver bars typically range in size from 1 troy ounce to 100 troy ounces. Common sizes are 1, 5, 10, 20, 25, 50 and 100 troy ounces. 1,000 troy ounce poured bars do exist, but are industrial in size (almost 70 pounds each) and cost (approximately $15,000 with spot at $15 per ounce). These 1,000 ounce behemoths should be avoided due to their limited collectability. Similarly, very small 1 troy ounce bars lack the universal investment appeal of slightly larger sizes. Stepping up to a minimum of 2 or 3 ounce bars easily remedies this minor issue.

Occasionally you will come across odd weight silver bars. For example, the bar might be stamped “10.34 troy oz.” These odd weight bars are an almost certain indicator of an older, vintage bar that is both unique and desirable.

Vintage silver bullion bars have compelling investment potential, especially when considering their impressive appearance and high intrinsic value. Premiums over bullion value range from about 25% on the low end to over 300% for extremely rare types. Larger bars typically have lower premiums than smaller bars, but will cost more because of their higher intrinsic value.

Pricing realistically begins around $120 for investment grade silver bars weighing 2 to 5 ounces. Imposingly monolithic 100 troy ounce bars the size of a small brick can easily run from $2,000 to $4,000, depending on rarity (with spot silver at $15 per ounce). Lovers, politicians and even friends may prove unreliable, but vintage silver bullion bars will always remain true.

 

Read more in-depth Antique Sage bullion & gemstone investment guides here.

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Read more in-depth Antique Sage antique silver investment guides here.


Glittering Dreams – Investment Grade Estate Jewelry

Glittering Dreams - Investment Grade Estate Jewelry
This 14-karat yellow gold and sapphire ring is from the early 20th century. The intricate gold scrollwork and good quality blue sapphire of about 0.80 carats in weight elevate this piece to investment grade status.

There is a lot to be said for tradition. After all, traditions are only developed after decades, and sometimes centuries, of honing and polishing cultural precepts. Our ancestors’ venerable customs have shaped the most important events of our lives, from graduations to weddings to holidays.

And one of mankind’s most enduring customs is the idea of jewelry as a store of value. This might seem like an anachronism in the modern world, hopelessly adrift among the glittering neon lit skyscrapers and beckoning digital alleys of the current age. But that assessment could not be further from the truth.

Originally, the term “the family jewels” was not a euphemism for the male genitalia, but actually referred to the crystallized wealth of affluent, aristocratic dynasties. While most of the middle class has never understood the importance of this time-honored method of wealth building, today’s rich wisely remember the advice of their ancestors and continue to store a portion of their net worth in investment quality jewelry.

Portable, valuable and seductively radiant, many such jewels have become the stuff of legend. The Dresden Green, The Timur Ruby and The Crimson Star of Siberia are all famous jewels that elicit images of ancient nobility, ornate palaces and above all, lavish wealth.

Mysterious, exotic and alluring, a large, vibrant colored gem is the soul of a high-end piece of jewelry. Consequently, desirable investment grade estate jewelry will usually be mounted with one or more fine, sizable colored stones. In most instances, very high quality jewelry becomes a means to display the attributes of the exceptional gems mounted in it. This is emphasized by the fact that a typical piece of investment quality jewelry will derive over 75% of its intrinsic value from the gems mounted in it.

Oftentimes cheaper jewelry is mounted with many smaller stones in an attempt to imitate the look of a more expensive piece set with fewer, larger gems. Do not be fooled by this trick; a single, large gem of a given weight is worth many, many times more than a parcel of smaller stones that equals the same weight. Actually, large colored stones can possess such incredible value density that it is not unusual for a very high quality piece of jewelry to easily fit into the palm of one’s hand, yet be worth as much as a car…or even a house!

However, only the finest of gems are appropriate as investment vehicles. For example, the big three colored stones – emeralds, rubies and sapphires – are renowned for their unparalleled beauty, unsurpassed durability and instant name recognition. Jewelry set with these stones qualifies as investment grade if the largest gem exceeds 0.50 carats in weight. Unfortunately, high quality emerald, ruby and sapphire jewelry that is reasonably priced has gotten much harder to find over the last couple of decades.

 

Ruby, Sapphire & Emerald Estate Jewelry for Sale on eBay

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Other colored stones, such as aquamarine, tanzanite, spinel, tourmaline, imperial topaz and some fancy garnet varieties (spessartite or rhodolite), are exciting and compelling alternatives to the big three. These gem varieties offer the promise of rapid price appreciation as they inevitably become more widely known. However, these stones must be larger to qualify as investment grade, preferably at least 1 carat.

Another group of ultra-rare stones also exists, consisting of colored diamond, alexandrite, tsavorite garnet and demantoid garnet. Due to their extreme rarity, these glamorous gems must only exceed 0.30 carats in order to be considered investment quality. The buyer must beware though. Because of their great value, this last group of gems is often counterfeited with synthetics or other imitations.

Some colored stones like amethyst, citrine and blue topaz are too common to be investable and should be avoided. Please note that the minimum investable sizes for stones given are approximations that will vary based on the quality and number of gems present. The finer the stone, the smaller the size that is acceptable. Likewise, if a greater number of gems are present (like in a tennis bracelet), then even estate jewelry with smaller sized jewels than those listed above can still be desirable.

A word about white diamonds is in order. While they are beautiful accent stones, it is best to avoid them as the main stone in an investment-oriented piece. White diamonds are very common relative to fine colored stones. You can test this by walking into any jewelry store and comparing the number of large diamonds set in jewelry with the number of large, non-synthetic, high-quality rubies, emeralds or sapphires.

The number of diamonds will far outweigh the numbers of these colored gems available. This suggests that colored stones have a greater capacity for future price appreciation vis-a-vis white diamonds.  While this doesn’t completely disqualify white diamonds from investment consideration, one should only purchase them with caution.

If a colored gem is the soul of a high-end piece of jewelry, then the setting is its temple. Precious metals have exemplary properties for this role; they are dense, tarnish-free, and radiate a soft, almost mystical sheen. Accordingly, platinum, palladium or 14 karat (or higher) gold are all fitting materials for investment grade jewelry settings.

Gold needs no introduction, having been worshipped throughout the ages for its immutable, rich yellow glow. In contrast to the ubiquity of gold, lustrous-gray platinum is much rarer and hence usually found in very expensive, high-end jewelry.   Silvery palladium, another platinum group metal, is relatively new to jewelry and is consequently rarely found in older pieces.

 

Aquamarine Estate Jewelry for Sale on eBay

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It is important to note that gold of less than 14 karats (58.3%) fine is not investable because the alloy becomes increasingly susceptible to corrosion and tarnish under that level of purity. Gold-plated or gold-filled alloys as well as the plebeian metal silver should all be avoided for investment purposes. Due to the remarkable density of precious metals, a high quality jewelry setting will be solid looking and feel fairly heavy relative to its size.

An adept way to inspect a setting is to turn it over and look at the reverse. If it is finely finished, the setting should look almost as good on the back as it does on the front.

The vast majority of estate jewelry in the world is not investment grade. For example, in a typical chain jewelry store none of the inventory could appropriately be called investment grade. In a high-end jewelry store, some pieces might be considered investment grade, but be priced too high to make good investment sense. If you were to peruse the estate jewelry selection of a better antique store, perhaps one in one hundred pieces would be both reasonably priced and qualify as investment quality.

Obviously, real investment grade estate jewelry is difficult to find, affirming just how desirable and rare these items really are. Great men have opposed mighty empires and waged desperate battles in order to possess important gems. Lofty women have murdered rivals and seduced the powerful for a chance to cradle these dazzling jewels within their hands.

For centuries the wealthy and influential have understood the beguiling attraction of these persuasive luxury assets. And with prices starting at only $400, almost anyone can enjoy the rarity, beauty and investment potential of investment quality estate jewelry.

 

Read more in-depth Antique Sage vintage jewelry investment guides here.


Art for Your Wrist – Vintage Wristwatches

Art for Your Wrist - Vintage Wristwatches
Here is a fine example of a mid 20th century chronograph wristwatch in stainless steel with a Swiss movement and an original, unrestored dial.

Investing in today’s world can be a maddening proposition. The U.S. Federal Reserve has pegged short-term interest rates at near zero for several years running now. This means that savings accounts and short-term CDs earn meager rates of return and will continue to do so for the foreseeable future.

Some investors have reacted to these developments by transferring money from cash accounts and purchasing stocks. But with most U.S. equity indices having a dividend yield hovering around 2%, there is precious little protection against a downside move in stock prices. Indeed, the omnipresent prospect of a 20% to 50% draw-down in stocks should rightly give any reasonable investor pause.

Other investors have instead opted to move their cash into long-term bonds, where yields are somewhat higher. But the same problem exists here, although it is known by another name. In long-term bonds one takes on duration risk, which is the possibility that interest rates will rise substantially, driving the value of the bonds you hold down.

So in a certain sense choosing between stocks and bonds in today’s market is a lot like the plight faced by the Greek hero Odysseus. In the Homeric Odyssey, Odysseus was forced to sail his ship between the mythological sea monsters Scylla and Charybdis. To avoid one of the monsters meant facing the other. Likewise, if you navigate your financial ship to avoid one peril (duration risk in bonds) you expose yourself to another, completely different, but equally dangerous situation (the risk of a stock market crash).

Therefore, many investors today choose to wait things out, clinging to the safety of cash. While this approach has a great deal of merit, compelling alternatives do exist. Collectible, vintage wristwatches manufactured between approximately 1915 and 1975 are one of those often overlooked, yet incredibly intriguing alternatives.

Provided an investor already has a fully funded emergency account, allocating a percentage of one’s otherwise idle cash to a collection of fine vintage wristwatches could prove a wise choice. An heirloom quality wristwatch, if properly cared for, is unlikely to depreciate in value.

 

Vintage Omega Wristwatches for Sale on eBay

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With their elegant lines, sweeping curves and retro dials, vintage wristwatches evoke the sophisticated culture of a bygone golden age.  The cases of fine vintage wristwatches can be composed of either sterling silver or solid gold, varying in purity from 9 karat (37.5% fine gold) all the way up to 18 karat (75% fine gold). Platinum is occasionally encountered as well, although the price for these pieces is usually significantly higher.

Examples with gold-plated or gold-filled (a type of thick gold-plate) cases are less collectible and should be avoided. Stainless steel, a very common watch material today, began to be widely used in wristwatches starting in the 1940s.

Unlike today’s digital quartz watches, older mechanical watches keep time via a complex arrangement of gears, rotors and springs called the movement. In fact, the mechanical watch industry nearly went extinct in the 1970’s when the market was flooded by cheap, highly accurate quartz watches.

Vintage mechanical wristwatches can use either manually wound or automatic movements. As the name implies, automatic movements use the energy of the wearer’s everyday physical motions to automatically wind the watch.

Watch movements often reference the number of jewels they possess. Jewels are used in mechanical watches to reduce the friction between moving parts, thus increasing accuracy and reducing wear. Vintage watches typically have between 7 and 27 jewels, but a 17 jeweled watch is considered fully jeweled. Increasing the number of jewels beyond this point yields very little benefit.

A vintage watch’s value is partially dependent on the number of complications present in the movement. A complication is any time-keeping operation in addition to just hours, minutes and seconds. A date function, moon phase calendar and chronograph (stop-watch function) are all good examples of complications. Some watches can have a multitude of highly elaborate complications, making them very desirable to collectors.

The complexity of a functioning vintage wristwatch’s movement is a mesmerizing wonder, the culmination of several hundred years of innovation and old-world craftsmanship. In many ways a fine mechanical wristwatch is actually a miniature work of art that rests upon the wrist for all to see.

 

Vintage Chronograph Wristwatches for Sale on eBay

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There are a myriad of companies that produced very fine vintage wristwatches during the early to mid 20th century. Elgin, Gruen, Hamilton and Waltham are the most well-known U.S. brands and investment-grade examples of these watches can often be purchased quite reasonably today.

Most other collectible wristwatch manufacturers were Swiss in origin and include Audemars Piguet, Baume et Mercier, Breitling, Girard-Perregaux, IWC, Jaeger-LeCoultre, Longines, Omega, and Piaget. A few European watchmakers have even become synonymous with the finest quality: Patek Philippe, Vacheron Constantin and, of course, the ubiquitous Rolex.

While Rolex is the most well-known and popular of watch manufacturers today, it is important not to buy a watch strictly based on its brand. Brands naturally wax and wane in popularity over time. While Rolexes are high quality products, other watchmakers have created equally fine watches both historically and today.

High-quality vintage wristwatches serve dual purposes simultaneously. First, they can be a store of value, especially if the watch case is made of solid gold or silver. Second, they are a usable accessory that can be worn for special occasions. A well-made, vintage wristwatch is a subtle, yet instantly recognizable indicator of social status and refinement.

Nothing finishes a man’s formal attire more effectively than a classically styled, yet timeless dress watch. Similarly, a woman attending a formal event with an exquisite, sparkling period timepiece draped fashionably upon her wrist is sure to turn heads.

 

Vintage Hamilton Wristwatches for Sale on eBay

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Fine vintage wristwatches can vary wildly in price from just a few hundred dollars all the way to several million dollars, depending on condition, rarity, manufacturer, number of complications, case material, etc. However, high-quality, investment-grade examples in solid karat gold, sterling silver or stainless steel can readily be found in the $300 to $5,000 range with many fine specimens available under $1,000. These pieces would not only be functional and stylish, but also serve to diversify a more traditional investment portfolio composed of stocks and bonds.

 

Read more in-depth Antique Sage vintage watch investment guides here.