WRIST MANAGEMENTThe prevailing wisdom in the
watch world is that there are
no surefire investments. Buy
with your heart rather than
your head, say the canny old
hands, and at least you’ll own
something you love. However,
according to pioneering
dealer David Duggan, there
are exceptions to every rule.
“I’ve been thinking of all
the types of watches I’ve sold,
dating from the early ’90s,”
he tells MH, standing in his
boutique on Mayfair’s chichi
Burlington Arcade, “and the
key is to look for high-quality,
vintage understatement.
Think Patek Philippe, Rolex,
or maybe a couple of the
other big Swiss brands. Buy
then wait 20 years. They will
nearly always yield profit.”
Duggan should know.
Having started his business
in 1983 and specialising in
Patek – still regarded as the
greatest of the Swiss maisons- he is now a member of the
British Horological Institute.
“I used to think I was
a Patek man through and
through,” he confides, “but
now I’m all about Rolex. The
standards are so high – the
eye for detail, the obsession
with perfection. You don’t
quite see that anywhere else.”
It’s precisely these
qualities that engender both
Rolex collectors’ fanaticism
and the watches’ continuing
performance at auction. So
Duggan is somewhat biased
when it comes to advice on
how to build a gainful ‘watch
wardrobe’, covering off every
sartorial eventuality.
“If you’re buying new, a
steel Rolex Submariner (04)
is a must,” he says without
hesitation. “It’s a banker. You
can dive with it, but it looks
great with a suit, too. Then
there’s the steel Cosmograph.”
Duggan is referring to Rolex’s
iconic Daytona chronograph,
the waiting time for which can
be close to a year for a steel
example. “It’s the perfect
sporty watch if you want
a more versatile look.”
Should these watches’
respective £5450 and £8250
pricetags feel a little spiteful
at this austere time of year,
the vintage gems in Duggan’s
own showroom have been
supplemented by Rolex’s
rising sibling star Tudor.
“The new Tudor Heritage
Black Bay Dark (01) is a
gorgeous revival of the way
the Submariner looked in the
’50s. It is fitted with Tudor’s
in-house movement, too,
starting at a modest £2300.”
At the dressier end of the
spectrum, Duggan believes
in Jaeger-LeCoultre’s
Reverso (02). Its slender, art
deco rectangular case flips
over to protect the dial – a
function famously requested
by the polo players of colonial
India. But it’s specifically the
Tribute DuoFace (£8150)
that Duggan admires.
“It’s great value for such
an esteemed brand; a dress
watch you can wear every
day, with a lighter or darker
dial depending on your outfit.”
But Duggan specialises
in pre-owned timepieces,
so it’s unsurprising that he’s
also in favour of investing
in something with history. “I
recommend a Patek Philippe
Nautilus (03) (£18,030),” he
says. “Forty years ago it made
a splash because it was the
brand’s first and only sports
watch. And the ‘porthole’
design that established such
an immediate personality
remains as strong.”
Certainly none of these
come cheap. But then neither
would laying down your hard-
earned cash be a waste. If
you bought a car for a similar
price, for example, you
couldn’t reasonably expect it
to be alive and kicking in two
decades, let alone bringing in
a return. In this case, it pays
to have time on your hands.GUIDE TO STYLE – 03 / 1704
03
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