With an Inherited Watch Collection, Doing Less Is the Smartest Move

August 13, 2026 / Sophie Clearwater /

Ideally, only after a collection has been thoroughly evaluated should decisions be made about what to keep and what to bring to auction. Courtesy Phillips

Once upon a time, a retired New York City civil servant inherited a Rolex from an uncle he cared for during the final years of his life. Uncertain what it was worth, he guessed around $10,000 and hid it in a flowerpot in his Queens apartment for safekeeping. When he eventually brought it to Sotheby’s, the watch turned out to be a rare vintage Daytona known to collectors as a “John Player Special.” It sold for $768,000.

The sale, according to Geoff Hess, Sotheby’s global head of watches, dramatically changed the man’s financial circumstances. “That’s an extreme example,” he told Observer, but families routinely inherit watches without understanding what they are, what they might be worth or which details matter. An unassuming watch can prove significant; an imposing one can turn out to be less valuable than it appears.

The days immediately following inheriting a watch collection are therefore the wrong time to start cleaning, repairing or sorting the collection for sale. The safest approach is simpler: gather everything, alter nothing and have the full collection assessed by a watch specialist. Also important is to put the timepieces, and everything associated with them, into a secure place. “Keep everything,” said Isabella Proia, head of sale and senior international specialist for watches at Phillips. “It’s important to err on the side of holding onto too much.” That includes boxes, warranty papers, receipts, service documents, spare bracelet links, straps, booklets, presentation materials and even handwritten notes. Together, Proia said, they can help establish provenance and history.

A gold Rolex watch photographed on an off-white background — The Rolex Reference 6238 Transitional Daytona ‘John Player Special’ that was discovered in a flower pot and sold in Sotheby’s Important Watches auction in 2024. Courtesy Sotheby’s

The importance of each of these extras varies by era. Modern watches are more likely to retain their original packaging, making completeness more important to collectors; vintage pieces may have been separated from those materials decades ago. “For the most part, what they do is enhance the story of a watch,” Hess said. “We love to know the history of a watch, where it came from, the life it lived.” Supporting materials may add a premium to a timepiece’s estimate, and ideally nothing should be discarded before a specialist reviews it.

But the worst mistake an heir can make is trying to improve a watch before it’s been properly evaluated. “Do not touch anything,” Hess said. “Don’t clean them. Don’t take them to your local jeweler to be polished and made shiny.” Polishing permanently removes metal and can alter the original shape of a case, while replacing a dial, bezel, hands or other components may make a watch look newer at the cost of reducing its value. What appears to be a flaw, scratches, tarnish or uneven patina, may instead show that the watch has survived in an honest, largely original state.

“People naturally want to make a watch look and operate at its best,” Proia said. “But in the vintage market, originality is often more important, and more valuable, than cosmetic perfection.” An old watch intended for regular wear may eventually need servicing, but it’s best to have it done only after a specialist has established what could be lost by doing so.

A dark-haired woman sits on a gray-blue couch in what appears to be a NYC office with large windows — Isabella Proia, head of sale and senior international specialist for watches at Phillips. Photo: Jean Bourbon, courtesy Phillips

Heirs to watch collections don’t need to become experts before seeking an appraisal, but they should make a clear record of what they have. “The easiest approach is to create a simple photo catalog,” Proia said. She recommends photographing the front, back, sides, bracelet or strap and any visible markings, then organizing the information in a basic spreadsheet.

Hess’s minimum is even simpler: photographs of the front and back, he said, are usually enough for an initial identification, emphasizing that there’s no need to open the watch or expose the movement. Record any readily visible reference or serial number, but do not open the case to find one. Notes about who wore the watch or when it was acquired may also prove useful.

“Good photographs and basic organization are usually enough for a specialist to begin an assessment,” according to Proia. Notably, every watch in the inherited collection should be documented, not only those that look expensive. Hess regularly assesses modest collections because an apparently ordinary piece may be worth many times more than the rest. “You never know what you might find,” he said.

With collectible watches, small distinctions can have an outsized effect on value, and they aren’t always obvious to jewelers or general appraisers. “A rare dial configuration, an unusual case material, a retailer signature, historical provenance, an early production run or even a seemingly minor variation can dramatically affect desirability and value,” Proia said. “Sometimes two watches that look almost identical to a non-specialist can have very different market trajectories.”

According to Hess, the central considerations are brand, rarity, condition, originality and provenance, though their importance and the estimated value assigned to them shift from watch to watch. “There is no formula for that,” he explained. “It really is on a case-by-case basis.” Condition, in particular, can be deceiving. A worn watch with its original parts may be more desirable than one that looks pristine after heavy polishing or replacement components. Its market history can matter, too. Auction specialists describe a watch that has not previously appeared publicly or circulated through auctions and dealers as fresh to market. These discoveries can be especially attractive when they have remained in one family for decades. “Collectors love stories, so a part of the specialist’s job is to learn the story of the watch,” he added.

Photographs are often enough for an initial opinion, but gauging originality, condition and provenance may require an in-person inspection. And when it comes to assigning a value to a watch or collection, the answer largely depends on what kind of value is meant, whether an auction estimate, fair-market value, insurance evaluation or the amount an owner might reasonably expect from a sale. “These are often confused, but they’re very different concepts,” Proia said. An auction estimate is the expected bidding range published before a sale. “Conservative estimates attract bidders, leading to higher hammer prices,” he said.

A row of auction specialists at Sotheby's speakers to bidders on the phone during an auction — Geoff on the phone bank fielding bids at Sotheby’s Important Watches sale in June 2026. Courtesy Sotheby’s

Fair-market value refers more broadly to what a knowledgeable buyer would pay a knowledgeable seller in an open-market transaction. It is usually the closest figure to what owners mean when they ask what a watch is worth. Insurance value reflects replacement cost and may be higher than fair-market value when a rare watch would be difficult to replace. It may also need updating if a watch purchased years earlier has appreciated substantially. The amount a consignor ultimately receives is different again. It depends on the sale price, market conditions and an auction house’s commissions or fees.

Inherited collections should also be evaluated as a whole before any decisions are made about individual pieces. “Looking at the collection as a whole provides context,” Proia said. “It can reveal collecting themes, ownership history and relationships between pieces that might otherwise be missed.” A complete review also reduces the risk of overlooking something important because a relatively plain piece may turn out to have the rarest configuration, strongest provenance or greatest collector interest. Hess recommends bringing in the entire collection rather than trying to decide in advance which pieces merit attention.

Proia also distinguishes financial value from sentimental value. “The most emotionally meaningful piece isn’t necessarily the most valuable one,” she said. Knowing the difference between the two can make it easier to decide what stays in the family and what might be sold. Ideally, only after the collection has been thoroughly evaluated should decisions be made about what to keep and insure or sell. Notably, not every inherited watch should go to auction. Depending on estimated value, rarity and a family’s priorities, a piece might be sold privately or brought to a broader market.

And some discoveries will disappoint. “We do see our share of counterfeits,” Hess said. “Sometimes the grandfather didn’t even know he had a fake.” Other watches may be authentic but belong to brands or categories with limited secondary-market demand. Yet inherited collections are one of the places where significant watches tend to surface. “They’re still out there,” Hess said. “There are treasures to be found and diamonds in the rough everywhere.”