Boom times for the collectable watch market

Vintage and collectable watches are setting records at auction. Chris Carter reports.

Gold Omega Speedmaster No. 19
Astronaut Michael Collins’s gold Omega Speedmaster No. 19
(Image credit: © Heritage Auctions)

For all the troubles in financial markets, vintage watches continued to tick along nicely in June.

A rare Rolex wristwatch given to Royal Navy divers in the 1970s sold well above its high £120,000 pre-sale estimate with Bonhams in London to fetch £195,600, including buyer’s premium. The government-issued Rolex 5513/5517 Military Submariner, known as a MilSub, is a more rugged version of its civilian equivalent. Around 1,200 of the watches are thought to have been handed out during the decade, and many were damaged through years of use.

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Chris Carter
Wealth Editor, MoneyWeek

Chris Carter spent three glorious years reading English literature on the beautiful Welsh coast at Aberystwyth University. Graduating in 2005, he left for the University of York to specialise in Renaissance literature for his MA, before returning to his native Twickenham, in southwest London. He joined a Richmond-based recruitment company, where he worked with several clients, including the Queen’s bank, Coutts, as well as the super luxury, Dorchester-owned Coworth Park country house hotel, near Ascot in Berkshire.

Then, in 2011, Chris joined MoneyWeek. Initially working as part of the website production team, Chris soon rose to the lofty heights of wealth editor, overseeing MoneyWeek’s Spending It lifestyle section. Chris travels the globe in pursuit of his work, soaking up the local culture and sampling the very finest in cuisine, hotels and resorts for the magazine’s discerning readership. He also enjoys writing his fortnightly page on collectables, delving into the fascinating world of auctions and art, classic cars, coins, watches, wine and whisky investing.

You can follow Chris on Instagram.