How to Value an Antique Pocket Watch

An antique pocket watch can be worth anything from its case metal to many times that, depending on the maker, movement, condition and case. This guide is for anyone who has found or inherited a pocket watch and wants to understand what affects its value and how to research it without damaging it.

Handle it carefully

Old watches are delicate. Don't force a stuck crown, wind a watch that seems tight, or pry at the back if it won't open easily. Never try to clean or oil the movement yourself. If you are unsure how to open the case, a watchmaker can do it quickly and safely.

Identify the case type

• Open face: The crystal is exposed, and the winding stem is usually at 12 o'clock.
• Hunter case: A hinged cover protects the crystal, and the stem is usually at 3 o'clock.
• Demi-hunter (half hunter): The cover has a small window showing the hands.

Some movements were made specifically for one case style, which helps with identification.

Check the case metal

Look inside the case back and lids for stamps. Solid gold cases are marked with karat (such as 14K or 18K) and may also carry hallmarks. Many American cases are gold-filled and stamped with phrases like "Warranted 20 Years" or "Gold Filled." Silver cases may be marked sterling, 925, 800 or "coin silver." Base metal cases might be nickel or "silveroid."

A solid gold case sets a value floor, but don't assume the case is the main value. A fine movement can be worth more than its case, and melting a collectible watch destroys that value.

Find the maker and serial number

The movement is the mechanism inside, and it usually carries the most important information. Once the back or inner dust cover is open, look for:

• The maker's name, such as an American or Swiss manufacturer.
• A serial number engraved on the movement plate.
• The number of jewels, often stamped as "17 Jewels" or "21 Jewels."
• Words like "Adjusted," "Adjusted to temperature" or "5 Positions," which indicate higher-grade movements.
• A grade or model name.

Note that the case serial number is different from the movement serial number. Use the movement number. For many American makers, published serial number lists and collector databases let you find the approximate production year, grade and size.

Know what adds value

• Railroad-grade watches: Watches built to railroad timekeeping standards are popular with collectors. They are commonly 16 or 18 size, with at least 17 jewels, adjusted to positions, with lever setting and a plain, bold dial.
• High jewel counts and complications: Features such as chronographs, repeaters, moon phases and calendars can add significant value.
• Well-known makers: Watches by respected Swiss and American makers, particularly their higher grades.
• Original dials: Porcelain enamel dials without cracks or chips are preferred. Hairline cracks and chips reduce value.
• Running condition: A watch that runs and keeps time is generally worth more, though servicing is expected with old watches.
• Originality: Original case, dial, hands and crystal are better than replacements. A movement "married" into another case is usually worth less.

Check condition honestly

Look for dents and wear on the case, worn-through gold filling, broken hinges, a loose crown, cracked or replaced crystals, and dial damage. Note whether the watch runs, and for how long. Rust or water damage inside the movement is a serious problem. Write it all down; buyers will ask.

Research sold prices

Once you know the maker, grade, size, jewels, case metal and condition, search for sold examples with the same features in online auction results and auction house archives. Compare carefully, because two watches by the same maker can differ greatly in value. Collector guides and watch collecting associations are also helpful resources.

Get an expert opinion

For watches that look high grade, are in solid gold cases, or have complications, have a watchmaker or watch specialist examine them. If you plan to sell, consider an auction house with watch experience, a watch dealer, or a coin and jewelry dealer who handles watches. Ask whether a buyer is valuing the watch as a collectible or only for its gold, and get more than one opinion before you sell.

Quick checklist

• Don't force, wind or oil a delicate watch.
• Identify the case style and case metal stamps.
• Record the movement maker, serial number, jewels and grade.
• Look up the serial number to date the movement.
• Note originality and condition, including the dial.
• Research sold prices and get an expert opinion before selling.