Are modern Swiss watches a better investment than their classic counterparts?

Almost as different as it is possible to be, the Breguet 7077 Tradition chronograph from this year’s Basel watch fair has a movement that is historic and futuristic and very, very clever. The Tradition line is inspired by Breguet’s Souscription pocket watches of 1796 with their simple, symmetrical movements but this latest offering is anything but simple. The power comes from different sources for different functions; the main hands are powered by a conventional spring barrel while the chronograph is driven by a tiny leaf spring. The watch runs at 3Hz while the chronograph runs at 5Hz, and so different materials are used for the two balance wheels to allow them to remain the same size. Such innovation is typical for a brand that has lodged between ten and 12 patents per year since 2000 and while the top-level watch market has cooled a little of late, this piece – especially as it is a chronograph – should be successful.

The ‘ugly duckling’ is a common phenomenon in vintage watch collecting; the watch from a respected brand that sold poorly on release and so has great scarcity value now. While far from ugly, the Rolex Daytona was not exactly the runaway success in the 1970s that you might expect it to have been. Stories abound of retailers refusing to discount Rolex’s time-only pieces but offering significant deals on Daytonas, especially the unpopular ‘exotic’ dial. Now almost any Rolex Daytona, so long as it is authentic, represents a serious chunk of cash; from £14,000 for a simple 6239 in fair condition to almost £1m for Eric Clapton’s 6263 Albino.

2016 saw Rolex carry its refreshment of the Daytona collection through to the steel model, creating reference 116500LN. The clarity of the dial design along with the crispness of the Cerachrom bezel won praise from the critics, but as the most affordable and wearable of the Daytona line, this one couldn’t really lose. We are back to the waiting list lengths of ten years ago with an immediate profit of around £6,000 if you choose to flip it. As more come into the market the re-sale prices will cool a little but this is definitely a great timepiece to invest in. 

The way the auction market is looking at the moment it seems that almost any watch with ‘Heuer’ rather than TAG on the dial was a good investment if you bought it at retail. For certain references, particularly the early Autavias, achieved prices are approaching ten times what they would have been only five years ago which demonstrates just how desperate collectors are to latch on to the next big thing. While a reference 2446 Autavia may be heading out of the reach of many collectors, there is still plenty of mileage in later examples and the Chronomatic models. Authentic pieces that are in good condition should be a solid investment as interest in vintage Heuer spreads beyond the die-hard fans.

Across the range of Heuer models that are sending buyers into a frenzy, the Monza has yet to reach its true potential. This may be because the development of the Monza is not clear to understand. The original from 1976 was a special edition PVD Chronomatic Carrera, while the re-issues looked more like Cameros with a cushion-shaped case. The version that TAG Heuer released this year is an amalgamation of all the best bits, keeping the cushion case of the re-issue but reverting to the original PVD and red styling of the original. Strangely for such a hybrid, this one works; elevating the Monza line with the colourway it should always have had and in doing so, giving more credibility.

Compared to Rolex’s vintage chronographs, Omega’s Speedmaster collection seems grossly undervalued especially when you consider their NASA certification. The market does seem to be waking up at long last and good prices are being achieved for early and correct examples. While not the earliest Speedmaster, the reference 2998 was the first into space in 1962 on the wrist of Wally Schirra, an astronaut with the Mercury mission. A tropical-dialled example of this watch achieved a commendable $50,000 at Christies’ Speedmaster-only sale last year but I suspect prices will head steadily upwards.

This year, Omega decided to take the 2998 and create a limited-edition tribute to it. Not a replica or a re-issue, as the dial is blue and there is luminous material in the bezel markings, but the key features are there. In much the same way that a skilful caricature can appear truer than a portrait, Omega has kept the ‘Alpha’ hands and guard-free crown and opted for the ‘Lollipop’ seconds as the more distinctive of the two original possibilities. The result works well, being modern and relevant, with a hint of vintage about it. With an original 2998 almost impossible to acquire, and the tribute a limited edition, this should be a good buy for the future. 

Proof that not all collectors’ watches have to break the bank is provided by Longines. Despite its current position as Omega’s junior partner, the early years of the 20th century saw it positioned as a highly respected chronograph manufacturer. It is no surprise that, while most of its watch production is ignored, its early chronographs get watch buyers very excited. The Longines calibre 13ZN is widely recognised as a superb piece of engineering design and good examples are pushing up to £30,000. The 30CH, the last manufacture calibre from the brand, represents great value often below £3,000.

While not a 2016 novelty, the Heritage Single Pusher Chronograph from the brand’s 180th anniversary in 2013 is a great reflection of the brand’s chronograph history. All the correct details are present including an enamel dial, blued steel hands and a red Roman numeral 12. It looks like the kind of vintage piece you wear with your fingers crossed that it won’t stop or break during the day, but of course it functions with all the reliability of a modern production piece. While most of Longines’ current collection depreciates heavily in the secondary market, this is a piece that may just hold its value or creep up a little.