Patek Philippe & Tiffany Platinum Pocket Watch, ca. 1910
GUEST: My father had bought it for my mother back, 1970. In that time frame. My father had been a, a Shriner and a Mason, and he created a lot of contacts through that. And so he met Larry Beck, who was the trophy king of Baltimore and also a jeweler. And he would buy his, uh, jewelry from Larry. And so, if there was things that Larry Beck thought my father would be interested in, he would call him and have him come out and take a look, which is how I'm pretty sure this watch came to be. Um, my mother used to wear it as a pin when she would go out to dance or dinner.
APPRAISER: Is there another piece to it, then, that made it a pin?
GUEST: There used to be another piece, but it wasn't part of the watch. And two jewelers had offered me $2,000 for that.
APPRAISER: Okay.
GUEST: And I just wasn't ready to sell it at that point. I just felt like there was something more to that watch than what they were saying.
APPRAISER: Do you have any idea how much your dad paid for the watch?
GUEST: I do not, no. I mean, I was, I was a kid.
APPRAISER: So your dad sort of hit the trifecta when he caught the watch. The watch is platinum, it's made by Patek Philippe, and it was retailed by Tiffany. Tiffany was the first company in the United States to become an authorized franchise agent for Patek. So, Patek-Tiffanies are steeped in American history in watchmaking. The watch was made circa 1910. And we can tell that from the serial number that is on the movement. The case and all the diamond work was all done in France. It's an 18-jewel movement. It's encrusted with diamonds. So here's the face of the watch, which is Tiffany and Company. Diamonds are going all around. And then, to open up the watch, we take off this part of the case. And this is the inside cuvette, or dust cover.
GUEST: Okay.
APPRAISER: And what you see is white enamel. And on the other side, you see the high-karat, 18-karat yellow gold. On the back is a case number, is a hallmark, which is a French duty mark. Now, the movement is also signed Patek Philippe, 18 jewel, and a serial number, and also has the marking "Tiffany and Company." Tiffany sold other brands of watches, Patek being the Rolls-Royce, the finest that they did. They, they had five or six different lines that they used. A lot of the Tiffany watches are unsigned on the movement, meaning that you don't know who made it. It was just retailed by Tiffany. But with the franchise agreement that Patek had with Tiffany, it's signed on the movement, which brings it to a whole 'nother level. In today's market, at a retail level, this watch would be in the $13,000 to $15,000 price range. It's an absolute extraordinary example of a Tiffany Patek.
GUEST: Wow.
APPRAISER: Congratulations!
GUEST: Thank you! (laughing): Oh, my goodness. Now I know.
$13,000 - $15,000 Retail
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Understanding Our Appraisals
Executive producer Marsha Bemko shares her tips for getting the most out of ANTIQUES ROADSHOW.
Value can change: The value of an item is dependent upon many things, including the condition of the object itself, trends in the market for that kind of object, and the location where the item will be sold. These are just some of the reasons why the answer to the question "What's it worth?" is so often "It depends."
Note the date: Take note of the date the appraisal was recorded. This information appears in the upper left corner of the page, with the label "Appraised On." Values change over time according to market forces, so the current value of the item could be higher, lower, or the same as when our expert first appraised it.
Context is key: Listen carefully. Most of our experts will give appraisal values in context. For example, you'll often hear them say what an item is worth "at auction," or "retail," or "for insurance purposes" (replacement value). Retail prices are different from wholesale prices. Often an auctioneer will talk about what she knows best: the auction market. A shop owner will usually talk about what he knows best: the retail price he'd place on the object in his shop. And though there are no hard and fast rules, an object's auction price can often be half its retail value; yet for other objects, an auction price could be higher than retail. As a rule, however, retail and insurance/replacement values are about the same.
Verbal approximations: The values given by the experts on ANTIQUES ROADSHOW are considered "verbal approximations of value." Technically, an "appraisal" is a legal document, generally for insurance purposes, written by a qualified expert and paid for by the owner of the item. An appraisal usually involves an extensive amount of research to establish authenticity, provenance, composition, method of construction, and other important attributes of a particular object.
Opinion of value: As with all appraisals, the verbal approximations of value given at ROADSHOW events are our experts' opinions formed from their knowledge of antiques and collectibles, market trends, and other factors. Although our valuations are based on research and experience, opinions can, and sometimes do, vary among experts.
Appraiser affiliations: Finally, the affiliation of the appraiser may have changed since the appraisal was recorded. To see current contact information for an appraiser in the ROADSHOW Archive, click on the link below the appraiser's picture. Our Appraiser Index also contains a complete list of active ROADSHOW appraisers and their contact details and biographies.
