Vintage luxury watches, eight essential references

Key takeaways: The Cartier Tank Must, the most affordable vintage luxury watch on this list, can be found for under $3,100; a matte-dial Submariner 5513 starts at around $15,700. At the top, a steel Patek Philippe 1518 changed hands for $24.1 million in 2025. Across the board, the individual piece matters more than the reference.

A watch does not become valuable just because it gets old. In the vintage luxury watch market, a 1970s vermeil Tank and a 1943 Patek Philippe carry the same label, with a gap of some $24 million between them.

Here are the eight references to know, from the most affordable to the rarest, with price ranges in Canadian dollars at the Bank of Canada rate of October 23, 2026, followed by the evidence that separates two examples of the same watch.

Vintage is measured in decades, not dollars

The word has no official definition. In the trade, it is generally reserved for watches 25 to 30 years old or more, a matter of custom rather than a rule.

With a 2022 Submariner, you check authenticity and the warranty. With a 1960s Submariner, you also check everything that has been replaced over sixty years of servicing. Box, recent papers and warranty, the norm on the pre-owned market, become the exception here.

Four accessible vintage luxury watches, under $80,000

In short: The Tank Must, the Speedmaster 145.022, the GMT-Master 1675/3 and the Submariner 5513 open the door to vintage luxury at between about $3,100 and $78,000, depending on condition and dial.

Cartier Tank Must, the vermeil entry point

The Tank Must takes the shape of the Tank Louis Cartier in a gold-plated silver case, known as vermeil, 20 microns thick on these models. Fratello magazine noted in June 2025 that it sold for US$500 at launch, first with a mechanical calibre and then with quartz, and that many examples can be found for under €2,000 (about $3,100).

Look at the corners before the dial: vermeil worn down to the silver can only be fixed with new plating.

Omega Speedmaster 145.022, the calibre 861 Moonwatch

Produced from 1968 to 1988, the 145.022 is the first Speedmaster Professional powered by the calibre 861. In September 2023, Fratello estimated that a collector-grade example could be found for the price of a new Speedmaster Professional, or less.

A 145.022 with a straight-line engraving on the caseback commands more than later series. The Speedmaster Moonwatch references place the current line in context.

Rolex GMT-Master 1675/3, the two-tone of the 1970s

Launched in 1970 in steel and 14 ct gold, the 1675/3 kept the calibre 1575 until the 16753 arrived in 1980. In March 2025, Fratello put its price at between just over €10,000 and €20,000 in good condition, or about $15,700 to $31,300. A replaced bezel insert must be disclosed in the sale description.

Rolex Submariner 5513, the no-date diver

Produced from 1962 to 1989, the 5513 went through three families of dials: gilt until about 1967, matte until 1984, then glossy. According to Fratello's selection published in May 2025, a matte-dial version starts at around €10,000 (about $15,700) and easily climbs to €50,000 ($78,300) in excellent condition or with a special dial.

On a 5513, the era of the dial sets the price range; the Submariner guide covers recent references.

Collector references, from the Royal Oak 5402 to the 1518

Audemars Piguet Royal Oak 5402, the early series

The steel 5402 sold 4,288 examples during its 15 years in the catalogue, split into A, B, C and D series that correspond to dial configurations. According to the Robb Report in June 2024, an A-series still cost more than US$100,000 (about $140,000), compared with more than US$250,000 a few years earlier.

Its design story is told in the Royal Oak guide.

Omega Speedmaster 105.003, the Ed White watch

Nicknamed after Ed White, the Gemini IV astronaut, the 105.003 dates from 1963. According to Omega's historical record, this steel model with the calibre 321 was the first watch to pass NASA's flight qualification tests, and its experimental grey dials are highly sought after. In 2023, Fratello noted that any collector-grade Speedmaster with a calibre 321 was above €10,000 (about $15,700).

Paul Newman's Rolex Daytona, provenance turned into price

The Daytona the actor wore sold for US$17.8 million in 2017 (about $24.9 million). Other Daytonas with the same exotic dial are worth a fraction of that amount: provenance made that price. A Daytona is judged with the dial in hand, under a loupe, never from a photo.

Steel Patek Philippe 1518, the exception

Launched in 1941, the 1518 was the first serially produced perpetual calendar chronograph. Patek Philippe made about 280 of them, mostly in gold, and only four steel examples are known.

The first of the four, dated 1943, became in 2016 the most expensive wristwatch ever sold at auction, at 11 million Swiss francs. That record fell as early as 2017. According to the AFP report carried by The Straits Times, the same watch changed hands in November 2025 for 14.19 million Swiss francs, about $24.1 million. The movement is the same as in the gold 1518s: the metal makes the difference.

In a vintage luxury watch, originality matters more than the model

Two examples of the same reference can sell for very different prices depending on these five elements:

Element	What supports the value	What should lower the price
Dial	Original, even patina, crisp printing	Printing too fresh for its age, luminous material that differs from the hands
Case	Sharp edges, visible bevels, legible engravings	Rounded corners, numbers softened by polishing
Hands and bezel	From the same era as the dial	Undisclosed recent service parts
Movement	Expected calibre for the reference, consistent number	Calibre from another generation
Documents	Certificate of origin, archive extract, service invoices	No written record, only a story

The case is the only line no workshop can correct: polishing erases in a few minutes edges that lasted sixty years. Elsewhere, a flaw does not condemn the watch, but it must be stated in writing in the sale description.

A service part is not a fault; hiding it is. An appraisal done with the case open checks the calibre, the numbers and the original parts before payment.

When the papers are lost, the manufacture's archives take over. At Patek Philippe, an Extract from the Archives can be ordered for any watch first sold more than 10 years ago. According to its FAQ on archive extracts, the service costs 500 Swiss francs (about $850), refunded if the watch is not eligible, with only one extract per watch every 12 months. Photos are required, and the certificate of origin issued with a new watch cannot be duplicated.

Before paying for a vintage piece, ask the seller for:

• The numbers. Reference, case and movement, photographed.
• The extract or certificate. Or permission to order one.
• The service invoices. Parts replaced, dates and workshop.
• The right to an appraisal. Written agreement for a watchmaker to open the watch before payment.

In Quebec, buy a vintage piece seen, opened and with taxes included

A watch seen in Montreal can be examined and opened in front of you before payment, which a listing abroad does not allow. Bought from a Quebec merchant, the piece carries the 5% GST and the 9.975% QST, with no currency exchange, insured shipping or customs clearance.

Ordered from outside Canada, the same watch pays both taxes at the border, and sometimes a duty. The 2026 customs tariff chapter on watches sets the most-favoured-nation duty on wristwatches at 5%. It provides duty-free entry for those covered by, among others, the Switzerland-Liechtenstein tariff or the European Union tariff, if origin is established.

For a fifty-year-old watch without papers, that proof is not a given: on $15,000, the duty would come to $750, before taxes and carrier fees.

Choosing a vintage luxury watch on evidence rather than legend

From the vermeil of a Tank Must to the steel of a 1518, every level comes at the same price: the price of proof. Before buying a vintage luxury watch, photograph the numbers, compare the piece with its archive extract, have the caseback opened and work out the price in dollars, taxes included.

Spotted from a private seller or online, a 5513 or a Tank Must can be examined by a specialist in Montreal before the first deposit.

FAQ

How much does a vintage luxury watch cost?

From a few thousand dollars to several million. An entry-level vintage luxury watch, such as the Cartier Tank Must, can often be found for under €2,000 (about $3,100). A matte-dial Submariner 5513 starts at around $15,700, and an A-series Royal Oak 5402 was above $140,000 in 2024. Within each range, the condition of the dial and case, then the documents, move the price.

Does a vintage watch go up in value?

Nothing guarantees it. The steel Patek Philippe 1518 went from 11 million Swiss francs in 2016 to 14.19 million in 2025, but that result concerns one specific, documented and almost unique example. It says nothing about the reference as a whole, or about a piece bought today at market price. Buy a vintage watch first to wear it and for its story.

Should you buy a vintage watch without box or papers?

Yes, often, as long as other evidence makes up for it. Many watches over 50 years old have lost their box and documents along the way. At Patek Philippe, an Extract from the Archives can be ordered for 500 Swiss francs when the first sale was more than 10 years ago. The case and movement numbers, photographed, followed by an appraisal with the caseback open, complete the proof.