While the Japanese consumer market may not be quite as strong as it once was, it still plays a major role for certain manufacturers. Some smaller brands, in particular, generate significant portions of their sales in Japan. Likewise, Japanese dealers have historically prompted manufacturers to craft unique special editions for their customers, especially in the period from the 1960s to the 1990s. Some of these models are highly coveted today. Before I go any further, let’s first look at what makes this market unique.
Something very notable about the Japanese watch market is the high level of interest in used or “pre-owned” watches. Japan boasted one of the world’s strongest economies up until the late 1990s, which resulted in many collectors amassing more and more international timepieces. In the 1980s and 90s, vintage watches from Patek Philippe and Rolex were especially highly coveted, and Japanese buyers went crazy for collecting older timepieces in good condition. The Rolex Bubbleback is just one example of this. Although many of these watches have since returned abroad, you can still find many well-maintained examples floating around in Japan.
In 1989, the so-called “luxury tax” was removed, which made prices for foreign-made luxury watches suddenly much more attractive. In response, Japanese dealers commissioned a number of special-edition timepieces from high-end manufacturers. One of the most striking examples of this is the Patek Philippe Calatrava ref. 3796 with a display case back. This watch is also available as a very rare stainless steel edition. Another special edition worth mentioning is the Vacheron Constantin Chambellan, particularly the model with the caliber 1120. This watch is a simple, two-hand timepiece with a display case back, which appeals to Japanese consumers due to their love of movements. The watch is currently traded at relatively high prices among Japanese collectors. A few more notable examples are the IWC Double Chronograph with a white dial and the Portugieser Chronograph Rattrapante with a display case back. IWC launched both models in celebration of their 130th anniversary.
There are a few special things that make Japanese collectors tick. To start, they love well-constructed movements. For instance, Japanese distributor Shellman had a number of Simplicity watches made to order by Philippe Dufour, and most of the resulting timepieces remain in Japan to this day. This reflects the market’s preference for simple, finely-finished calibers. The same can be said about the VZSS from Audemars Piguet. This excellent movement was once highly coveted among Japanese enthusiasts. As far as I know, Japan is still home to still several of these movements.
Japanese consumers also have a weakness for fine craftsmanship. Dealers and collectors prefer watches from independent watchmakers and boutique brands over well-established manufacturers. F.P. Journe was the first to open up their own boutique in Aoyama, Tokyo. They were later joined by A. Lange & Söhne in the same neighborhood. Whenever Antoine Preziuso and Franck Muller came to Japan, they were treated like gods. That being said, the market remains relatively conservative, and, thus, independent brands that specialize in very modern designs are not as revered as the likes of Preziuso and Muller.
These traits have resulted in a culture where luxury timepieces are treated with respect and a great deal of care. Even back in the 1990s, when collectors weren’t as knowledgeable as they are today, watch enthusiasts often discussed the merits of various watch repair shops. It may come as a surprise that Japan, of all places, is concerned with watch maintenance. After all, this is the country that brought about the mass production of cheap quartz watches that never needed repairing. Nonetheless, this interest in upkeep means there are still many well-maintained mechanical watches in Japan today.
To be fair, Japanese collectors don’t have much of a choice in the matter. The country’s humid climate means that mechanical watches damage easily without the proper upkeep. Moreover, most consumers would never consider buying an inaccurate or scratched pre-owned timepiece, and, thus, every second-hand watch receives thorough maintenance before finding a new owner. In fact, I recall hearing an employee of a manufacturer once say, “If you want to buy a used watch, go to Japan. They have plenty of properly repaired watches there.”
Generally speaking, if you’re buying used goods from Japan, you can rest assured that they will be in decent condition. The only exceptions to this rule are watches that are auctioned off at low prices. If you come across a Japanese limited edition from the 1980s or 90s, chances are that it’s worth the investment. For example, both the Chambellan and the Portugieser Chronograph Rattrapante with display case backs are currently available on Chrono24, and either would make a worthwhile purchase.
