When it comes to collectables be it art, wine, watches or memorabilia, provenance is everything. In the world of sports paraphernalia, history and a paper trail are often linked to significant historic events and athletes.
Watches have become a major point of interest among fans that are curious about how top athletes spend their cash. And whenever a particular brand or design gains traction amongst NBA or NFL stars, the value goes up. Couple this star power with the overall growing secondary watch market, those with a penchant for collecting special pieces find themselves chasing limited editions, and in some cases, timepieces with unique connections to sports history.
As we saw with the sale of Tom Brady’s ‘first final touchdown ball’, any number of unforeseeable factors can affect the value of a piece of memorabilia. From origin to authenticity, tap into the expertise of Andrew Morgan, watch expert from resell platform Watchfinder & Co. and the host of the popular YouTube segment Talking Hands, to find out some of the dos and don’ts of buying historically significant collectibles.
Are there examples of specific timepieces tied to historic sporting moments that have set records at auctions or appreciated significantly over time?
Watches associated with the Olympics can become highly sought after. Very recently, the Omega Speedmaster Tokyo 2020 Olympics editions have been changing hands for almost double retail price.
And this isn’t a new thing; rewind to the 1964 Tokyo Olympics, to the limited edition Seiko 5718-8000 Chronograph. That sold at auction in 2020 HKD $138,125.
In tennis, we saw a prototype Richard Mille RM 27-02—worn by Rafael Nadal in 2015 for the French Open and Wimbledon tournaments—sold at the Only Watch auction in Monaco for a whopping HKD $5,400,000.
Combining sports with cinema, the famous Heuer Monaco worn by Steve McQueen in the 1971 film Le Mans sold in 2020 for HKD $17,000,000, over ten times the estimate.
What are some of the considerations when buying a watch sports-related timepiece for investment?
The same is true of all collectibles: keep them intact, keep them original. Boxes, papers, receipts, labels, notes—anything that can be traced back to the period alongside the watch all builds the narrative around it that makes it so desirable.
In fact, many collectors will also do their own research and amass information on their collectibles as well, documenting their history and showing it in context. A picture of a sporting hero wearing the watch at a key moment really grounds the legacy.
What are some of the things to keep in mind in terms of authentication, provenance and adjacent documentation when purchasing a watch with sports history?
From a purchasing perspective, it is imperative to fully understand the watch and the period it is from. With watches, it is very easy, by malice or mistake, for parts to be replaced over time with non-original ones and for crucial documentation to be lost. The more complete and original the item is, the better.
An expert will be needed to verify the authenticity of the watch and its component parts. Like art, this can sometimes come down to the reaction of experience. It can all be in the merest of details; it is not unknown for an expert to incorrectly deem a watch or its parts unoriginal!
Sometimes it is easiest to make a purchase from a known collector that has a very complete, chronological log of the watch’s journey from creation to now, documenting sales, services and any other change of hands that could raise doubt. On extremely rare occasions, the watch might even be purchased from its original owner!
What are some of the main factors that will influence the price of pieces?
The more significant the event, the more the watch will be worth. Worn by the GOAT when the championship-winning point was scored in the most memorable season of all time? Hugely collectible. Anything to document that moment and make it real will only go further to increase that desirability.
Unique pieces and prototypes are especially exciting as they are not only extremely rare in their heritage, but also in their creation. A model that is otherwise readily available made as either a custom variant or prototype worn by a sports star is sure to add value.
Also see: Who in the NBA is wearing the US$6.5 million Patek Philippe
