When it comes to the pre-owned watch market, one of the biggest points of contention is the importance of watch box and papers. Box and papers can help legitimize or authenticate a watch. In addition, they can add a bit of value. At the same time, it’s relatively easy for a set of box and papers to appear credible when in fact they’re aftermarket. In some cases, the original watch papers may be blank, filled in, and added to the watch more recently. At the end of the day, box and papers are not legal documentation. In addition, they’re not required when transferring ownership of a watch. All that said, it can be challenging to determine if a set of box and papers are genuine. Then, if so, how much value or assurance they really add. Here, we look closely at the nuances of watch box and papers to help you be a more discerning buyer.
This is a Rolex watch with its box and papers:
Box and papers or a full set will vary by brand. However, there are a few basic items you can expect. When it comes to the box, there will typically be a presentation box that holds the watch itself. This may be lined, leather, or include a travel case. The presentation box will be encased in an outer box, usually made of a more standard material, like cardboard. A standard set of papers may include a combination of several things. This may be a Certificate of Authenticity, warranty card, Certificate of Origin, and/or watch manual. Some watches may even include a purchase receipt or service history.
As a general rule, box and papers will add roughly 25% to the value of a watch. Regardless, the most important thing when buying a pre-owned watch is the watch itself. Some buyers fall victim to the misconception that box and papers are the most crucial element when buying pre-owned. They’ll buy a watch in poor condition because they feel peace of mind that box and papers accompany it. Instead, a smart buyer knows that the quality of the watch itself is the most critical thing when buying pre-owned. This should be your number one factor when shopping in the second hand market. If a good quality watch has box and papers, it’s an added bonus.
This is what a Patek Philippe watch looks like with its box and papers:
When shopping pre-owned, it’s important to know that the older the watch, the less likely it is to have credible box and papers. This is true for two reasons. First, watch box and papers were once considered relatively unimportant and therefore discarded. In addition, watch box and papers are more likely to be lost or misplaced over time. So, if you’re buying an older vintage model and it’s accompanied by box and papers, you should be detailed in assessing their authenticity.
Still, it’s possible another shift is on the horizon when it comes to the emphasis placed on box and papers. In the spring of 2020, Breitling announced they’d be bucking the longstanding industry tradition. Alternatively, they made plans to ditch their box and papers to cut down on environmental waste. Instead, the manufacturer expects to deliver their timepieces in pouches made from recycled materials. With the growing consciousness around unnecessary and environmentally damaging packaging, it will be interesting to see if other watchmakers follow suit in the coming years. Could a trend like this in fact increase the value of box and papers as they become more obsolete? Will it result in the demise of box and papers and render them worthless altogether? In a few years, perhaps we’ll be having an entirely different conversation about the importance of watch box and papers. Only time will tell.
Here are the box and papers for Jaeger LeCoultre:
Here is an Audemers Piguet watch with box and papers:
This is what a Girard Perregaux watch looks like with its box and papers:
How important are the watch box and papers? This is one of many never-ending debates that we have in the watch world. It’s never-ending because we all have different motivations for spending what is seemingly an obscene amount of money on a timekeeping device.
My name is Adrian, and I run a watch-focused blog and YouTube channel called BarkandJack. Whenever I do a Q&A video, I’m asked about the importance of having the box and papers. It’s one of those questions that’s impossible to answer without a discussion, but I’ll cut to the chase. There is no right or wrong answer; however, this is an area where we can make ill-informed or uninformed decisions when buying or selling a watch. It all comes down to matters of opinion, but to help you make up your mind, we have some facts to share based on Chrono24’s data and I’ll share my own thoughts on the topic, too.
What do box and papers mean for a watch?
Firstly, let’s start off by clarifying what we are talking about when we say “box and papers.
The watch box is just that: the original box the watch came in, usually made of thick cardboard or synthetic leather.
The papers are a document or documents that shows the product reference number or model and serial number. They sometimes also include the purchase date and buyer and seller information. They aren’t necessarily made of paper; some come as cards.
Rolex box and papers
These elements, together with the watch, make up the package that you’re buying or selling – and there’s a package hierarchy:
To give you a better idea of the market, of all the watches for sale on Chrono24:
Delivery contents of watches listed on Chrono24
There are twice as many listings for watches with their box and papers as there are for watches alone.
There are few watches for sale with just papers because dealers typically buy the box to make it a more complete and appealing package.
Why are watch box and papers important and what impact do they have?
PRICE
The first thing is price. Having the box and papers makes a watch much more expensive. If you’re after a good deal, look for a watch without its box and papers and focus on the condition instead. However, if you’re looking for a hyped-up watch or a new watch like a modern ceramic Rolex Pepsi GMT-Master II or the latest limited edition Speedmaster, you’re out of luck. Everyone knows that these watches offer big returns, so they nearly always come with their box and papers.
Let’s take a step back from brand new models for a moment and look at the difference in price of popular watches with and without their box and papers. An obvious choice would be the pre-ceramic Rolex Submariner 16610. On average, you should expect to pay around 17.8% more for a 16610 if it comes with its box and papers – that would mean a $8,700 Sub would cost around $10,250 with its box and papers. There are obviously other factors involved in pricing a watch, but that’s just a rough idea of how much the box and papers can impact a timepiece’s price.
Rolex Submariner 16610 sales price
Another solid staple of the watch world is the Omega Speedmaster Moonwatch 311.30.42.30.01.005. The box and papers have less of an impact on price here at just 13.2%. However, this watch also costs less so the price gap isn’t as bad; for example, if a Speedmaster costs $4,350 on its own, then adding the box and papers would only take the price up to $4,900.
Omega Speedmaster Moonwatch 311.30.42.30.01.005 sales price
Both the Submariner and Speedmaster are popular models, meaning the market is fairly saturated. The difference becomes much greater the more collectible a watch is. For example, a pre-ceramic Rolex GMT-Master II 16710 with a Pepsi bezel costs about 23.3% more when the box and papers are included. A Cartier Santos 100XI 2656 costs an extra 20.8% with its box and papers – that’s over a fifth of the overall value of the watch.
In short, pricing is heavily influenced by the presence or absence of box and papers, but so is desirability or collectibility.
DESIRABILITY
Watches with their box and papers are more desirable and collectible – and full sets even more so. This is the reason why the price is higher, but another factor to consider is the speed of the sale. Naturally, if something is more desirable, it’s quicker and easier to sell. Of all the watches listed on Chrono24, watches with their box and papers tend to sell 13.1% faster.
Time to sell
In conclusion: My thoughts
Everyone values watches differently, and that extends to box and papers, too. Some people are only concerned with the watch and its condition; after all, that’s what you wear at the end of the day. For some reason, I really like the history that comes with the papers. I’m not too fussed about the box. It’s a nice added extra and it’s convenient, but I can easily buy a box, whereas papers usually can’t be replaced. I also like service papers, but I love original receipts most of all. A receipt can capture so much information, especially vintage receipts. My father-in-law recently showed me the first Rolex he bought for himself: a 32-mm two-tone Datejust. According to the receipt and papers, it was bought on April 22, 1986. After a massive 20% discount, it cost him £1,200 (approx. $1,500), and he paid in cash. Receipts can offer so much more of a story than a simple serial number.
As mentioned at the start, there is no right or wrong answer when it comes to the importance of having the box and papers. It’s all down to your personal preference. Hopefully, you can make a more informed decision next time you buy a pre-owned watch.