Recently, I considered listing one of my Hamilton watches for auction on eBay – until I saw other offerings. I felt shocked at the depressed prices. One in restored condition sold for $95. If I was that seller, I would have taken a loss. Think about this: the dial cost $29 to restore, the crystal ran about $20, the band $15 and eBay fees including the service fees from Paypal ran somewhere around $20. Those costs alone add up to $84. I doubt he paid less than $30 for the watch.
As I began to draft the information on my Norman, something hit me as strange. His restored Hamilton had a little better looking dial, but overall my “serviced” Norman in original condition was a superior wristwatch.
I listed mine and had one bid before I ended the auction. The competing auction had 13 bidders. Here’s what I attempted to convey in my listing.
“It’s unusual to find a Hamilton wristwatch in excellent original condition. This model came with a Butler finish dial with 18K applied numerals and hands. The case is 14K Gold Filled (see photo of back and sides). The curved crystal is clear and has no scratches. The band is New Old Stock (NOS) size 15 Regular – a replacement to match the original color and appearance – made in Canada. The movement is a demasked 982, 19 Jewel running well 14/0 size. The mainspring runs in excess of 24 hours.
“Note about judging a watch’s condition: Sellers describe vintage watches as mint, excellent, good, worn and non-working. Mint is comparable to uncirculated. Some sellers consider restored vintage watches as mint, because the dials are freshly painted; the cases polished down as not to show scratches; new crystals and bands, but often without servicing the movement. Excellent refers to a watch in structurally sound condition, well maintained in original condition without the need to restore. A watch in good condition means it is running well, has no major structural damage and can use some cosmetic improvements. We use the term worn when the watch is ticking and the surfaces are not intact. Non-working is fairly self explanatory, but usually refers to the movement. “
I feel that a vintage watch in near-mint condition is preferable to one that someone restored.
When someone polishes a case to remove scratches, they reduce the amount of gold on the watch and harm the seal between the back and bezel. Replacement dials may not fit and leave tiny openings. The use of glues, like epoxy, leaves a resin that can eat away at the brass under the gold fill. Refinishing the dial also has drawbacks. First, the kind of paint used on the original dial – no longer exists. The refinisher must remove the gold numerals and that is done with heat. When the numerals are replaced they must be soldered. Heat changes the shape of the dial and causes the newly painted surface to change. The numerals do not line up as they did originally.
The “Norman” cost $72 in 1950, which adjusted for inflation is $690 in 2013 purchasing power. That’s a lot of value to give away for $95. I decided to keep it and wear it, if I get a little tired of wearing my 1938 Martin everyday.
I’ll take original. The dial has a slight patina, but it’s minor. Remember this is a 63 year-old watch. How did it stay so well preserved? It sealed tight and it did not change shape due to the fluctuation in temperature when the owner took it off his wrist. He had a good watchmaker.
Brand: Hamilton
Model: Norman
Movement: 19 Jewel, demasked, caliber 982
Dial: Butler finish (oyster-grey), 18K applied gold arabic numerals
Hands: 18K applied gold, second hand at the 6 o’clock recessed position
Case: 14K heavy yellow gold filled – both inside and outside layers
Crystal: Clear, curved top, no scratches
Band: New old stock, 15mm, made in Canada, orange-tan
Overall condition: Excellent – no visible signs of wear without magnification
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