After watch NFTs, I started to look at their most common mediums of exchange – or more specifically at the cryptocurrencies usually used to exchange them. And so, in a mostly cynical way, I decided to then take a look at a few rare vintage watches, purchasable for the price of about 1 Bitcoin. At the time of writing, the price of a Bitcoin is approximately $70,000 Canadian dollars. So, that’s the price range we’re shopping in!
First up is an Audemars Piguet Royal Oak Perpetual Calendar ‘Tuscan’ ref. 25820SP. This is a 1990s Royal Oak reference that comes in steel and platinum and measures 39 mm in diameter. It is a perpetual calendar and features the Cal. 2120/2800, which is based on the AP Cal. 2120 and as such the JLC 920. This is an ultra-thin perpetual calendar movement at only 3.95 mm. Audemars Piguet’s history of perpetual calendar watches goes back to the mid-20th century, with the ref. 5516. Meanwhile, the Royal Oak Perpetual Calendars came to be in the early 1980s using the aforementioned ultra-thin movement, once the thinnest of its kind⁶. What stands out apart from this, however, is its unique ‘Tuscan’ dial which is a different texture than that of the standard ref. 25820SP.OO.0944SP.03.
Now, while this AP is actually currently on sale, its low-end estimate puts it at just about C$80,000. So, not exactly C$70,000 but still in the same ballpark.
1973 Rolex ‘Sigma Dial’ Daytona ref. 6265 / Credit: Sotheby’s
Second, we have a Rolex ‘Sigma Dial’ Daytona ref. 6265. ‘Sigma Dial’ Daytonas are special for having the Greek letter sigma on the sides of the “T Swiss T” at 6 o’clock. This letter was actually a symbol for watchmakers that were a part of l’Association pour la Promotion Industrielle de l'Or in the early 1970s, which is part what makes this ref. 6265 special. Otherwise, it’s a manual winding Daytona featuring the 17-jewel Cal. 727, with an Oyster bracelet and a 37 mm case.
This watch in specific is in an ongoing auction, but at a current bid (at time of writing) of about C$45,000 and a high-end estimate of about C$65,000 – I’d definitely trade a Bitcoin for this.
Finally, we have the most-high Vacheron Constantin ref. 4072 chronograph. This reference was a success for Vacheron back in the 1940s and extremely popular. It was first released in 1938 and no more than 1,200 are said to have been produced. Vacheron used three different manual winding chronograph movements on the various references 4072s over the decades¹², all of which were based on a column wheel Valjoux movement.
1942 Vacheron Constantin ref. 4072 / Credit: Christie’s
Ultimately a classic chronograph, no less a classic Vacheron reference. This particular 1942 Vacheron 4072 sold for about $65,000 CAD, so again right on the money for what you can get for 1 Bitcoin.
While a Bitcoin might not seem like much in the face of a 1940s Vacheron Constantin or a platinum Audemars Piguet, its meteoric rise in value could be a sign of changing times. Let’s just hope they change in favour of vintage watch collectors…
By: Andres Ibarguen
Read more:
“Audemars Piguet ref. 25820.” Phillips, https://www.phillips.com/detail/audemars-piguet/CH080121/29.
Koh, Wei. “The Complete History of the Audemars Piguet Perpetual Calendar.” Revolution Watch, August 20th, 2020, https://revolutionwatch.com/the-complete-history-of-the-audemars-piguet-perpetual-calendar.
Westphalen, Louis. “Historical Perspectives What Exactly Is A Sigma Dial? (And Why Does It Matter?).” Hodinkee, February 28th, 2017, https://www.hodinkee.com/articles/what-is-a-sigma-dial.
“Rolex 'Sigma Dial' Daytona, Ref. 6265 Stainless steel chronograph wristwatch with bracelet Circa 1973.” Sotheby’s, https://www.sothebys.com/en/buy/auction/2021/important-watches-part-ii/sigma-dial-daytona-ref-6265-stainless-steel-2.
““Les Collectionneurs” Tokyo and Osaka, 7th December – 31st December 2020.” Vacheron Constantin, December 31st, 2020, https://presslounge.vacheron-constantin.com/les-collectionneurs-tokyo-and-osaka-7th-december--31st-december-2020/.
Lai, Randy. “The history of Vacheron Constantin and its most vital contributions to horology.” Lifestyle Asia, August 26th, 2019, https://www.lifestyleasia.com/sg/style/watches/vacheron-constantin-history/.