Transparent assumptions. Reproducible results.

Model conventions

1. 01Entry outlay = price × (1 + buyer fee) × (1 + purchase tax) + inbound shipping + inspection + optional structure setup.
2. 02Gross exit = price × (1 + annual change)^holding years × (1 − liquidity reduction) × (1 − condition reduction). Sale delay earns no growth.
3. 03Net sale = gross exit × (1 − seller fee) − exit shipping − other exit costs − optional redemption cost.
4. 04Recurring monthly cost combines secure storage, insurance on original price and optional administration, escalated monthly.
5. 05Service costs occur first at the chosen month and repeat at the selected interval while held; zero repeat interval means once.
6. 06Auction-attempt cost occurs at the planned holding-year endpoint. It does not increase value.
7. 07IRR is the annual effective rate at which monthly cash-flow NPV is zero. NPV uses the selected annual hurdle.
8. 08Break-even covers nominal contributions without a return on time. Required growth solves for the hurdle after all current exit deductions.
9. 09Normalised comparable = paid price × USD per currency unit ÷ (1 + buyer premium). Only included Sold records enter the median.
10. 10The immediate dealer check deducts shipping and fixed exit costs from a user-supplied offer already net of dealer margin; it applies no future costs.

All appraisals are in USD. Investor-level FX, capital-gains taxes, leverage, reserve balances, insurance recoveries and enjoyment from wearing the watch are excluded.

Evidence labels

Observed — records or published context with sources. Assumed — user inputs and defaults. Modelled — calculated IRR, NPV, break-even and scenarios.

Research sources

1. Federation of the Swiss Watch Industry FH · 2025 annual exportsIndustry export statistics for 2025, published 29 January 2026; not pre-owned watch prices or investor returns.
2. FH · Statistical methodology and releasesValues are export prices from exporting firms’ declarations.
3. Rolex · Certified Pre-OwnedBrand-specific program eligibility and guarantee; not an investment rating.
4. Rolex · Care and service FAQManufacturer-specific servicing guidance; model and usage matter.
5. Chrono24 · CertifiedCertification scope and authenticity checks; review the current definition and disclosures.
6. Chrono24 · Buyer ProtectionTransaction protection and escrow terms for eligible purchases.
7. Phillips · Advice for first-time biddersCondition reports, additional images, buyer premiums and transaction costs.
8. SEC staff · Statement on Tokenized Securities, 28 January 2026U.S. staff taxonomy of tokenized securities; not an approval of a watch investment structure.

Official-source research reviewed 1 October 2026. Provider services and terms can change.