Appraising Time: Why Your Luxury Watches Should Be Appraised and Insured

IMG_4160

We all know that generally you need to carry extra insurance to cover your luxury goods, including jewelry. However, we often forget about covering watches. Somehow, because they are utilitarian pieces, they often slip our minds. However, we believe that you should have your luxury watches appraised and insured.

Having a watch appraised is vital, especially if it is a vintage or heirloom piece. Often, the value of these watches fluctuates based on the market and, in just a few years’ time, watches can gain in value. While you may never be able to replace these keepsakes should something happen to them, you at least want to be sure you are properly insured.

For new watches, often your receipt will suffice for insurance purposes. However, a watch that is typically a couple of years old could have appreciated in value based on the market demand. Therefore having a recent appraisal may help in retrieving full value of the watch. This is also true if the timepiece is diamond- or gemstone-adorned.

IMG_4157

Reasons to have your watches appraised include not just theft, but also fire or other significant loss. Proper appraisals are helpful for estate planning or when facing life’s eventualities, such as divorce or death. While many suggest that a new appraisal on jewelry be done every three years, watch appraisals have a slightly longer shelf life of about five years or so, depending on the timepiece. While appraisals do cost a little money, the truth of the matter is, if you don’t have your fine watches appraised, and you suffer a loss, you will be in a regretful state. Better to protect your investment. Watches should be appraised by watchmakers and retailers who are authorized to carry the brand. Stop by and discuss watch appraisals with us any time.

IWC Schaffhausen Ventures Where No One Else Goes, Unveils In-House-Made Calibers

IWC Schaffhausen is a brand well known for its bold timepieces that venture where no one else goes. This brand was a leader in technology since its inception, creating the incredibly oversized Portugieser watch well ahead of its time, inventing the first anti-magnetic watches in the 1930s, unveiling one of the most complicated watches in the world (Il Destriero Scafusia) in the last decades of the 20th century and today exploring the Galapagos and world’s oceans as part of its efforts to support the environment.

IW503502_Portugieser Annual Calendar copy

Now, as witnessed at last week’s SIHH exhibition in Geneva, IWC is moving ahead with the development of its own in-house-made calibers to power its watches. The rollout is time consuming, as creating a movement takes years, but the first fruits of the brand’s efforts were unveiled last week. Among the new watches to house Manufacture-made calibers is the IWC Portugieser Annual Calendar. This makes perfect sense since this year marks the 75th anniversary of the Portugieser collection — a line we love. The stunning blue-dialed watch will make its way to our store later this year, but for now, we wanted to make the introduction.

Cartier Steals Limelight at SIHH Show With Crash Skeleton and Rotonde XL Watches

Cartier pulled out all the stops at the Salon International d’la Haute Horlogerie show in Geneva this week with its unveilings of the Cartier Crash Skeleton and the Louis Cartier Rotonde XL watches. While these timepieces won’t make their way to the market until later this year, we wanted to bring you a close-up look at them.

Cartier Crash Skeleton

Cartier Crash Skeleton (Photo: Laziz Hamani © Cartier)

The new Crash Skeleton features the famed Crash case that made its debut in 1967 and was inspired by the Salvador Dali’s painting “The Persistence of Memory.” The new version, crafted in platinum, houses the existing caliber MC 9618 skeletonized movement that had to be completely modified to fit within the Crash shape. The result is a beautiful rendition of gears, wheels and finishing that captures attention and challenges the imagination.

The other impressive timepiece is an artistic one. This brand has brought us mosaic tile dials, dials made of rose petals, wood and straw marquetry dials and now — filigree dials — with the beloved panther motif. The Louis Cartier Rotonde XL watch with mother and baby panthers on the dial is created using the ancient art of filigree — where gold or silver wires are soldered together in order to create an openwork lace-like design with a desired motif.

Louis Cartier Rotonde XL Panther Filigree

Louis Cartier Rotonde XL Panther Filigree (Photo: Nils Hermann © Cartier)

To accomplish the design, Cartier’s master craftsmen at the Maison des Métiers d’Arts work with beaten gold and platinum micro-wires that are twisted, rolled, curled and cut into little rings. They are then assembled using the openwork filigree technique that allows the elements to be attached on the sides but not to the base. Each watch takes more than a month to bring to fruition.

The pair of panthers feature black-lacquer-spotted coats woven from fine filigree of gold and platinum. They’re set with diamonds, and feature made-to-measure emerald eyes. A manual-wind mechanical movement powers the yellow gold, 42mm watch. Just 20 numbered pieces will ever be made.

Cars and Watches: What a Weekend It’s Been

This past weekend was all about celebrating precision instruments and vintage luxury with the world-renowned Monterey Peninsula’s Classic Car Week. It’s the time of year when lovers of vintage motor sports gather together in California for events such as the Rolex Monterey Motorsports Reunion — a cornerstone of the week – and the Pebble Beach Concours d’ Elegance.

1931 DELAGE D8 SS 100 FERNANDEZ ET DARRIN CABRIOLET AND 1929 ROLLS ROYCE PHANTOM I BREWSTER RIVIERA TOWN CAR NEGOTIATE THE CORKSCREW AT LAGUNA SECA. Photo By: Rolex / Stephan Cooper

Indeed, events include road rallies, long treks along the California coast line and more – all in a blend of showing off the finest period cars perfectly restored to their former glory. Even the Rolex Monterey Motorsports Reunion at Mazda Raceway Laguna Seca features vintage car racing.

Rolex, which has been intimately involved in auto racing since 1935, and solidified its position in the sport in 1959 when it began its association with the Daytona International Speedway, actively supports the majority of events for the week – wherein hundreds of top vehicles show what they are made of. For the Rolex Monterey Motor Sports Reunion, approximately 550 vehicles from 27 countries were invited to compete and are accepted based on the car’s authenticity, race provenance and period correctness.

This amazing race is known as one of the most iconic of its type, with touring and racing cars that are almost unrivaled in their categories. Held at the Mazda Raceway Laguna Seca track – with its legendary corkscrew turn (with five-story elevation and 11 turns) — the multi-day races are a blend of nostalgia and classicism, of roaring engines and whirring hums. The gentlemen racers and owners who line the paddocks include many top celebrities. At the end of the event, the Spirit of Monterey award goes to a top candidate – who also wins a stainless steel and gold Rolex Oyster Perpetual Cosmograph Daytona. The winner this year was Mike Eddy, the owner of a 1964 Ford Falcon, driven it in Group 7A (for 1966-1972 Trans Ams). The Cosmograph Daytona, introduced in 1963, was designed to meet the demands of professional racing drivers. The chronograph watch features a bezel with tachometric scale that allows drivers to perfectly measure speed.

THE BEST OF SHOW 2014, THIS 1954 FERRARI 375 MM SCAGLIETTI COUPE, WAS ORDERED BY FILM DIRECTOR ROBERTO ROSSELLINI AND IS OWNED BY JON SHIRLEY. Photo By: Rolex / Tom O’Nea

This year also ushered in some important celebrations: the 100<sup>th</sup> anniversary of Italian automaker Maserati; the unveiling of the new Jaguar prototype Continuation Lightweight E-Type (six will be built by Jaguar Heritage, part of Jaguar Land Rover’s new special division). All of the festivities culminated yesterday at the highlight event: Pebble Beach Concours d’Elegance, where the finest cars in the world were on display at the famed 18<sup>th</sup> fairway of the Pebble Beach Golf Links. Here, unlike the technical precision of racing at the Rolex Monterey Motorsports Reunion, cars are put to a different test – that of being historically accurate in technical merit and style. More than 700 cars applied to be at the Concours, but only a couple of hundred were granted admittance. The stakes are high, the cars judged in precise categories such as Early Steam Cars or Pre-War.  So, in the end, the winner of the 2014 Pebble Beach Concours Best of Show was a perfectly presented ’54 Ferrari 375 MM owned by Jon Shirley.

Chicago’s Jewelry Store

Do you know about C.D.Peacock Jewelers? Since 1837, we have been Chicago’s trusted jewelry store—two weeks after Chicago had originated as a city. Many of Chicago’s socialites, athletes and residents have been shopping with our jewelry store for generations.

A lot has changed since then, but we still strive to keep our service the same as we started. We have expanded into the greater Chicago area, but still consider ourselves to be Chicago’s jewelry store. Find us in Oakbrook, Schaumburg, Northbrook or Skokie.

We have been trusted to service many of Chicago’s watch and jewelry repair needs. We have a vast selection of the finest brands in watches and jewelry. C.D.Peacock has onsite Watchmakers authorized in the most elite watch brands, jewelers and talented custom designers. Our clients trust C.D.Peacock with servicing or appraising their most precious heirlooms.