In a world where authenticity and provenance are precious currencies, vintage watch collecting is turning into a minefield of conflicting desires, misunderstandings, and a relentless quest for the ultimate in authenticity. The issue of case polishing has become emblematic of this conflict, highlighting a deep divide between the preservation of history and the desire for aesthetic perfection.
Let's start with a "basic" consideration: between a watch without documents (so no box, warranty...) however never touched and with its beautiful patina of time to oxidize the case and dial, and another instead "full-set," complete with all documentation and all "accessories" but with polished case and "clean" dial, we - like any serious and long-time collector - we undoubtedly prefer the former. No guarantee, in fact, can ever give the taste of authenticity to a timepiece "violated" by inexperienced hands or eager to give it a second youth useful only to strike the attention of some buyer unaccustomed to the real values of a collectible timepiece. Having made this due premise, let us go together to better understand the dilemma of the state of preservation of vintage.
The question "Has the case been polished?" resonates more and more often in auction rooms and online forums, as it is one of the biggest concerns of buyers. Beyond simple aesthetics, the question touches the very foundation of being a collector: the quest for purity and integrity. It is understandable, then, that potential buyers are concerned about the degree of "untouchability" of a watch, aspiring to own a piece that is not only visually flawless but also carries within it the original history and craftsmanship.
However, a paradox emerges .Many of those who ask these questions are often the least equipped to appreciate the subtle differences and implications of polishing a watch. The request for watches with sometimes nonexistent or inappropriate specifications for a given model reveals a shallowness in understanding and an adherence to a narrative constructed more by community than by in-depth knowledge.
This phenomenon is not new in trade and collecting. History is littered with examples where public desires have shaped business practices, often at the expense of authenticity and preservation. Watchmakers and dealers are thus faced with an ethical dilemma: adapt to the demands of the marketplace, even if it means compromising the integrity of a historic piece, or stay true to conservation principles, risking alienating a significant portion of their audience.
The restoration of vintage watches, in particular, stands at the crossroads of these tensions. At one time, invasive methods risked irreparably erasing traces of a watch's history. Today, fortunately, we are seeing a paradigm shift toward more delicate and respectful restoration practices that aim to preserve as much as to enhance. But the heart of the problem remains: how far can we intervene on a historic piece before it loses its essence? In this context, education becomes crucial. Just as one would not expect to become an expert in any professional field without substantial commitment and continuous learning, the same is true of vintage watch collecting. The road to a deep and rewarding understanding of collecting is not marked by shortcuts, but by constant effort, mistakes, and, yes, even financial losses.
For those approaching this world, the figure of the knowledgeable professional therefore becomes crucial. The assistance of a connoisseur can not only help navigate this complex market but can also act as a moral compass, guiding toward both aesthetic and ethical choices. The relationship with a trusted dealer or restorer, whose reputation and expertise can be verified, becomes a key pillar in building a meaningful and responsible personal collection.
Patek Philippe Ref. 3450 YELLOW GOLD
Launched in 1981, Ref. 3450 is the successor to Ref. 3448, Patek Philippe's first automatic wristwatch with perpetual calendar. In the gallery is an extraordinary example from 1985, in a perfect state of preservation, never polished and complete with box and warranty.
Patina and NOS
As we have come to understand, every watch carries a narrative, written not only through its inner workings but also by the visible traces of time on its surface. These marks, known as "patina," and the rarity of NOS (New Old Stock) pieces prove to be crucial in defining their value and appeal, as evidenced by the stories of exceptional pieces struck at renowned auction houses such as Sotheby's, Christie's, and Phillips.
Patina is tangible evidence of a watch's journey through time. For example, a Rolex Daytona 6263 "Big Red" with screw-down buttons that belonged to Paul Newman, sold by Phillips in the famous "Racing Pulse" auction in New York in December 2020, realized a record $5.475 million. This watch was worn by Paul Newman from its purchase in 1983 by Joanne Woodward until 2008, when he gave it to his daughter. "This Daytona is not just a watch, it is a living legend on the wrist," commented Aurel Bacs, Senior Consultant at Phillips Watches.
NOS watches, in contrast, are pieces that have remained in a perfect state of preservation, testifying to the craftsmanship and design of a bygone era. A Patek Philippe Ref. 2499 in NOS condition and also belonging to the same family, which was auctioned at Christie's in Geneva in the "Rare Watches" auction in May 2023, fetched the important hammer price of 1.7 million euros, well above the average for this model.
Restoration, particularly polishing, is a sensitive issue in the world of vintage watches. "A masterfully done restoration can preserve the integrity of a watch, but it is a fine line that should not be crossed," noted Paul Boutros, Head of Watches America at Phillips.
Vintage watch collectors place great value on both patina and NOS condition, seeing them as two sides of the same coin. "Patina is the signature of time on a watch, unique and unrepeatable," says Eric Ku, a renowned collector and dealer of vintage watches. On the other hand, John Goldberger, a watchmaking authority and collector, says, "An NOS watch is a direct portal into the past, an opportunity to own a piece of history in its purest form."
The choice between a watch with a distinctive patina and a NOS piece comes down to personal preference and the value each collector places on history and preservation. The stories of extraordinary pieces sold in Sotheby's, Christie's and Phillips auctions demonstrate the market's appreciation for both watches that visually tell the story of their past and those that remain an intact testament to a bygone era. Each vintage watch, with its patina or in NOS condition, is a cathedral of time, an ode to horological craftsmanship that spans generations, carrying with it the promise of continuity and renewal.
In the end, the true beauty of a vintage watch lies in its balance between preserving its history and accepting its natural evolution. The goal of every true collector should be to embrace this beauty, recognizing that every mark of time carries with it a history worth preserving.
Basically, as the vintage watch market continues to evolve, so must collectors' approaches: asking more informed questions, seeking out historic, legitimized, and genuinely knowledgeable dealers, and appreciating the history that each piece brings. This is the only way to forge a future for collecting that respects both beauty and authenticity, while also maintaining if not increasing the value of each important piece over time.
