The Truth About Auction Off-Brand Luxury Watches

If you've been shopping for watches on auction sites lately, you may have noticed a trend in brand names. Several watch companies have names that seem a bit familiar - but not quite placeable. The suggested retail prices (MSRP) for these luxury-sounding watches are usually very high (anywhere from $1000 to $8000) and they claim claim a long-lived Swiss heritage. Then why haven't you heard of them?

Probably because they aren't exactly Swiss. They also may not be the company you're thinking of, even though the name once represented an illustrious watch manufacturer. The rights to the name (and only the name) was probably purchased by a watch company importing watches from Hong Kong or mainland China.

The design might be Swiss and the company name may have very vague similarities to other Swiss watchmakers, but what beats inside the watches are actually Chinese movements. For all their detail (usually quite superficial), romantic marketing ad copy and flourish, the watches are not anywhere near worth the MSRP quoted on these auctions (and the watch companies' websites.) In fact you might notice that most of the websites look remarkably similar. That's because they originate from the same company: Always at Market, based in Carrollton, Texas.

The following brands are affiliated with Always at Market, and their watches are usually found only on auction sites like Ubid, CompUsa Auctions, PropertyRoom.com and the like.

Louis Bolle
Heuer & Lambelet(no longer produced)
Rousseau
Deporte
Duboule
Omikron
Sug
Tavan
Picard & Cie
Balmer (Distributor)
Bernoulli
Romilly
Viceroy

In an effort to get reveal the true value of these watches, I purchased one and took it to the experts, a father and son both with many years experience in the watch business.

The model, Jeanneret Margaret, boasts a MSRP of $2195. It is a multifunction 21 Jewel watch. While the romantic marketing in the "History" portion of the site alludes to a Swiss heritage, the watches themselves bear no such markings or claims. The "Events" section of the site only goes back as far as October 2004 which lists the availability of the watches on Ubid.com.

The watch arrived beautifully packaged in a large, simulated leather box lined in black velvet. It is a lovely timepiece and, at first, it seemed a shame that I was going to have its "guts" taken out and analyzed. Shipping, insurance and fees set me back about $80 - a real bargain if this was truly a luxury watch.

The specification of the watch:
- Automatic TY-2876 (Chinese) movement w/ 21 jewels
- 35mm x 13.5mm gold tone stainless steel case
- Tachometer chapter ring
- Day dial at 9 o'clock
- Month dial at 12 o'clock
- Date dial at 3 o'clock
- Day/night & 24 hour combination dial at 6 o'clock
- Exhibition back w/ decorated Côtes de Genève bridges and rotor
- Luminous hands & markers
- Water resistant up to 5 ATM
- 194mm x 19mm genuine leather strap
- One year limited manufacturer's warranty

The Experts
Wayne Harper is the manager of my very favorite local watch resource - Fast Fix, in Lakeline Mall, Cedar Park, Texas. I made arrangements with him to bring in the watch and have it evaluated. He, in turn, invited his son Clint, who worked for Rolex in the mid-1990's and has a degree in watchmaking to perform the actual investigation.

My photographer Dennis, Wayne, Clint and myself, crowded into the back room of the store to start the process.

First let me share what Wayne and Clint told me about the inside of a fine Swiss watch. All of those pieces that make up the heart (the movement) of the watch, which most people will never see, should all fit together easily and beautifully. The edges should be smooth. Frequently, not just in skeleton or exhibition watches, the movement and other parts inside the case are ornately decorated. Tiny details showcase the workmanship the Swiss in particular, are famous for.

When Clint removed the back and we got our first look at the movement, I noticed the engravings and decorative touches like the Côtes de Genève bridges and rotor. Well, thought I, maybe it's a luxury watch afterall!

Or, perhaps not.

Despite the superficial decoration, deeper inspection showed crude machining, rough edges, scratches and un-polished surfaces. The parts all worked and fit together - but the refinement simply was not there. The movement is a Chinese copy of an ETA movement made by Tsinyi company. (ETA is a Swiss producer of mechanical and quartz watch movements.) All 21 jewels are functional. (It is possible to make what is essentially a 7 jewel watch with another 14 jewels serving non-functional or decorative purposes.)

So the big question was how much is the watch truly worth? Clint's estimation put it around $400 - $600. Even a knockoff of an ETA movement made it a nicer quality watch, but nowhere near the $2195 quoted in the auctions or on the website.

As a means of comparison, another associate at Fast Fix volunteered his Swiss Omega 26 jewel watch for inspection. The difference was striking. Every piece of the Omega watch was made to fit precisely and easily where it was meant to go. The smooth edges, perfect alignment, and beautiful detail were a far cry from the Jeanneret watch beside it. (See pictures)

Although the Jeanneret is a beautiful watch, and appears to work well, a Swiss-quality watch it is not. At the few hundred dollars it's selling for on auction sites, it's a fairly nice deal. When the price gets closer to the $1000 mark, you could simply get much more watch elsewhere for your money.

The story doesn't end there. As is the case with many of these "new" watch brands, the name Jeanneret actually belonged to a watchmaking company that has nothing but the name in common with the current manufacturer. At Joseph-watches.com, you can see (and purchase for $850) a genuine Jeanneret watch from around 1955.

Here are the watch's specifications:
JEANNERET Nº 1000038

- Mans Wrist Watch Chronograph
- rose Plaque Case, Ref. 41-073,
- Stainless Steel Snap Back,
- silvered original partly textured Dial,
- 30-Minute Register,
- embossed rose Gold Markers and Arabic Numerals,
- outer red Tele - and Tachymeter Graduation,
- 17 Jewels Movement,
- Caliber 151 (Landeron),
- Leather band,
- Switzerland, ca. 1955
- Diameter ca. 36,5 mm

The details in the pictures speak for themselves. The elegance and quality are in stark contrast to the Chinese version - though both watches, superficially, are quite beautiful.

Conclusion
It's "buyer beware" in the luxury watch market these days. When there are several thousand dollar watches on auction sites starting for $1 - or even $100 - do your homework. It really is too good to be true. The MSRP means nothing - only the components and the workmanship of the watch itself.