Looking for a watch with its original box and papers has become an expensive and unnecessary prerequisite amongst collectors. The common knowledge is that acquiring a watch complete with box and papers gives the buyer comfort or peace of mind that it’s 100% authentic. Let me give you a few reasons why I think otherwise.
1. BOX AND PAPERS DOES NOT GUARANTEE ANYTHING. ZERO, ZIP, ZILCH, NADA, NOTHING.
Box and papers don’t tell you whether a watch is authentic or in untouched condition. You could have the original box and papers but with all the parts of the watch changed – dial could be refinished, it could have the wrong set of hands, or movement could have replaced with a wrong caliber number.
Case-in-point: This Omega from the 1950s, complete with its box and papers, is a redial. The two T’s before and after SWISS MADE (below 6) should not be present in this era.
2. BOX AND PAPERS JACK UP THE WATCH’S PRICE BY AS HIGH AS 30%
In the 1990s and earlier, the habit of holding on to box and papers was not a common practice. Owners most likely threw away the box as soon as they pulled the watch out of it, or may have thrown away the papers once the warranty lapsed. Additionally, manufacturers didn’t intend for these boxes to be kept for many years. The materials used was mostly cheap and not durable, e.g. cardboard or plywood. Hence, finding one in good condition seldom happens.
Due to the rarity of box and papers, it commands a premium by as high as 30%. Imagine a vintage Rolex Pepsi GMT Ref. 1675 – the current price for this sought after piece is around the P700k range. If the watch was complete with box and papers, the price would jump to P910K!
An additional P210K for an old box and some papers? No, thank you! With that amount I could afford to buy a Datejust to go along with my Pepsi GMT.
Option 1 or Option 2? I believe it’s a no-brainer.
3. PAPERS CAN BE COUNTERFEITED
While watches manufactured by the likes of Rolex or Omega are often copied, yet never 100% duplicated, the same can’t be said for the watch’s corresponding papers. Manufacturers printed these papers in a practical and cost-effective way. It was never meant to prevent people from counterfeiting/replicating it.
As a comparison, take a look at the Philippine Peso bills made by the central bank – they were made through a special printing process to prevent counterfeiting, yet there are still people out there that can fake a P1,000 bill so well that it can fool the most of us. How much more for these mere papers that come with the watch?
4. ORIGINAL BOX AND PAPERS CAN BE BOUGHT TODAY
Besides fake papers, there are also blank original papers. Yes, original papers are being sold as well. You can produce “100% correct” papers, and nobody will be able to prove they are not original. Throw in a period-correct box and voila, the price just went up by 30%!
The utmost importance in the vintage watch space is:
- Doing your homework before purchasing
- Buying the seller, i.e. buying watches from reputable sellers only.
I am not saying you shouldn't buy a watch if it comes with box and papers, I am saying that you shouldn't let a deal depend on it. Box and papers, at most, shows that the previous owner took special care of his possessions, hence the watch will likely still be in good condition. Don't let the lack of box and papers stand in the way of acquiring your grail piece. Afterall, you are wearing the watch, not its box and papers.