What’s happened?
What do you expect? The Hamilton that made wristwatches like the Wilshire Gallery doesn’t exist. Someone bought the headquarters buildings and turned them into condominiums. Swatch owns the Hamilton name and they make Khaki’s, Chronographs and watches that look a little like a “Thinline” or a “Masterpiece” that aren’t exactly retro tank watches. You don’t need schooling in economics to understand that a static supply of any product eventually goes away. Think of peanut butter in a jar. Each spoonful lessens the inventory.
People have bought-up many watches for parts. You won’t see any Meadowbrooks, Hastings or the original Piping Rock. Collectors and hobbyists have grabbed the best ones up and they don’t care if the watches are running or not. They just want the piece.
The available inventory from estates and antique malls has started to disappear. Sellers didn’t raise prices quickly enough considering demand. Older quality watches of all brands disappear over time and that’s true of Rolex, Breitlings, Pateks or Omegas. You may find some irony in the fact that buyers have given up on Vintage Hamiltons and have started to buy models from the 1950’s and 60’s. If you follow the market, you will see that’s true. I just bought a working Dobson with a 987 movement and a clean face for $27 and a nice Norman for $47.50 on eBay. I’m used to seeing those watches bid out for an excess of $100 and in retail stores in the $500 range. At the same time, a clean Masterpiece went for $247. I also missed out on a bevy of watches people restored to mint condition, because I thought I would be left in the auction dust. I woke up on Monday and saw they sold for prices ranging from $35 to $66.
It’s called buyer apathy. People have given up.
I buy any vintage Hamilton I can at the low-end of the market. I don’t care if they’re working or not. I’m not a seller.
A year ago, I bought a 1938 Endicott for $135 plus shipping. I checked with Fast Fix Jewelry and they wanted $395 plus parts to clean, oil and adjust the watch. They also wanted four months to turn it around. Price disparity? The watch sold at a dealer for $495.
While this is a buyer’s market, you may want to consider picking up what you can. Before too long, you won’t find them.
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