Greetings all. Where I work has an estate planning group that came across a watch today. They haven't had it appraised yet, but I mentioned that I had an interest in purchasing it. It's a Hamilton 940, serial number 996360. It appears to be in pretty good shape; hands are very blue, face is clean, movement appears clean. Any ideas what something like this should set me back?
Posts: 260 | Location: Worthington, Ohio in the USA | Registered: December 20, 2005
Here's a poor shot of the back. There is a faded engraving on the back of some sort of flower. The case itself is pretty worn. The art is mostly gone and the bottom is very worn. The case itself isn't gold. Sorry about the fairly poor quality of the photos, they were done in a hurry! Thanks for any input!
Posts: 260 | Location: Worthington, Ohio in the USA | Registered: December 20, 2005
It's tough to answer a question along these lines without getting in to trouble. So much is dependent on the condition and correctness of the watch. Very hard to evaluate without having the watch in hand.
So, I'll share a trick I learned from one of my pawn shop buddies. He takes a known make and model, does a search for it in eBay... then selects the filter to "completed auctions".
This will give a person a reasonable indication of the market value of the watch based on real life sales/completed transactions, rather than a sellers asking price.
You are on your own for determination of condition and correctness, but will have plenty of examples for comparison.
If you develop the inevitable bug that comes with owning one of these beautiful pieces... a $12.00 annual membership here is about the best return I've ever made on my money.
Posts: 2032 | Location: San Diego, California in the USA | Registered: August 30, 2012
A watch like this goes on ebay for $240 to about $325. This one goes for a little more because of the Montgomery dial. This is about what they are going for on ebay. Some a little higher and some a little lower. Like Paul said it depends on the correctness and the condition. Does it run? Is it in the original case? Is the dial period correct and does it have any hairlines or chips. Are the hands correct. Is there any broken parts? Do the front and rear cover screw on and off as they should. Does the setting lever work properly. Is there any brass showing on the case. As you can see it is not an easy question to answer.
It appears to be all original to me from your pictures and I do not see any broken parts. The dial appears to be in good shape so if it works then start with a low offer and work your way up.
Harry
Posts: 3858 | Location: Georgia in the USA | Registered: September 22, 2011
You guys are awesome. A rough idea is all that I was looking for. Thanks for the input. Everything does look good and original, at least from the laymans perspective! Now it's just up to the estate attornies to decide what they want to do with it. If I end up with it, I'll certainly be sharing! Thanks again!
Posts: 260 | Location: Worthington, Ohio in the USA | Registered: December 20, 2005
Ed, the dial is fairly scarce since it appears to be an 18 size true Montgomery. If it has no hairlines or damage it alone might bring $150-200 to a buyer who had to have that style. Also the gold lettering on the movement, and the general nice condition of the movement, which is marked 940 (some were not so marked) make it a desirable example of Hamiltons best selling 21 jewel 18 size railroad watch. As a collector I try to buy the best quality I can and would give $300. You can find an appropriate "period correct" case at a decent price if you want to upgrade. Having said all of the above keep in mind that the watch should be serviced and that adds to cost.
Deacon
Posts: 1004 | Location: Omaha, Nebraska in the USA | Registered: February 14, 2009
Thanks for the input Richard. All of that is a big help. I used a magnifying glass to look at the dial and it looks about as pristine as it could be. Now I'm just stuck waiting. And getting more anxious during the wait!
Posts: 260 | Location: Worthington, Ohio in the USA | Registered: December 20, 2005
"Deduct for reconditioning" is what Deacon Jones pointed out and it is a wise practice in any evaluation.
Recently we appraised a large estate watch collection that was being taxed by the state so having provable amounts was of importance. We began with the "ABP" or "Average Book Price" in the 2014 Complete Guide to Watches which is in its 34th year of publication, and is the recognized authority. Then we took the value up or down from there depending on overall condition and other factors. The prices others referred to above were for a serviced and fully detailed watch which this one is not. Also bear in mind the Hamilton 940 is readily available with over 200,000 produced and a high survival rate.
Getting to the bottom line, on page 228 of the 2014 Complete Guide to Watches the 940 is listed at ABP: 175.00 / Extra-Fine: 250.00 and Top condition: 400.00 which when considered gives you a starting point the estate lawyers can use in their determination. Everything about the watch looks right, I would add 100 to 150 for having the preferred dial. I think it would be fair to begin at the mid-book price, add for the dial, deduct for service and in my opinion you are back in the 250.00 range that some of our some of our members and the watch guide suggest.
One of our members should be able to service the watch for around 100.00 plus any parts it might need, that should also cover cleaning and polishing the case. Since the case is likely original many collectors would want to keep it intact.
We invite you to join, pay your current IHC Dues and buy the watch guide...
Sincere appreciation for everyone's help here. This group has some of the nicest and most helpful people that I've had the pleasure to deal with. I'll be sending out my dues today or tomorrow because I'm happy to be a part of this community, even if it is just on the fringes! With luck (fingers crossed) I'll have a few more acquisitions in the next couple of weeks. There's an 1876 Elgin pocket watch in a local shop that I need to get to! Plus along with this Hamilton, I might possibly get to snag a 1945 Hamilton wrist watch. Thanks again for all the help!
Posts: 260 | Location: Worthington, Ohio in the USA | Registered: December 20, 2005
Woohoo!! I got it! And because I'm excited about it, you all have to look at this post one more time! They took this one and a wrist watch to an appraiser and, to be kind, they undervalued both by a bunch. So now I've got them until I send them out to be cleaned. I can officially say that I've caught the bug! I threw both hands in the air when they told me they were mine. Thanks to everyone for all the input!
Posts: 260 | Location: Worthington, Ohio in the USA | Registered: December 20, 2005
Thanks David. I actually have two other watches that I want to send to Chris as well. One he has already worked on so hopefully he'll consider me a return client! Can't wait to get everything cleaned and start carrying and wearing!
Posts: 260 | Location: Worthington, Ohio in the USA | Registered: December 20, 2005
