I have been a watch collector for 26 and have been told over and over that I need to get out here. I am not rich and you will not see me posting pic after pic of this Patek or that Vacheron. I buy what I can afford and sell what I can to help support my hobby and add money to our account.
I started when I was 10 with a fascination with mechanical pocket watches. I had already been collecting US coins for 3 years and had cataloged my grand father's collection when I was 9. Collecting was nothing new to me but the collecting of watches was a whole new world. It is a world of almost infinite variety and one of hundreds of years of history.
There are some concepts that collectors have to learn very early on.....
Don't buy what can't be fixed.
Don't buy without any research (a little is ok but risky).
Don't buy if it is not working.
Don't buy what you can't afford.
The first one is simple to understand. If it is missing a bridge or major parts you are buying something you cant have as original or the parts may not be available based on how common it is. I once, as a kid, bought a Hampden movement that I would say was 40% complete. I was young and thought that it could be fixed. I was told it could be but it would never be original and would cost 4 times what the end watch would be worth. A good lesson and cheap at $5.
The second is one even experienced collectors miss and can get burned for. If you are able to spend money on a watch just because you like it, this is not a big deal. If you are buying with a mind that you may want to sell some day or sooner, you need research. I buy only what I know without research because a road traveled over and over does not need a map. Until you know the movements, quality, functioning, feel, etc... don't run the risk.
The third is a little less obvious then it sounds. Many collectors can tell you stories when they bought a watch thinking it only needed a basic service and found out it needed major repairs. The risk here can lead to number one on the list. My current case of this is a 14K Omega Seamaster 550 in the original boxes and papers. I bought it, low at $215, and it was running and needed a crystal. Well the crystal was $50 and then I find out that the beat is off based on position. Cleaning and a beat adjustment did not help so now I am looking at a complete balance replacement for a further $150. I paid low so it is still ok. But it does show how what you may think is just something simple can bloom to a major repair.
The forth should seem common sense but is not always. People have the habit of over extending with credit or trying to buy things that are out of the scope of their finances just to get it. My best advice is patience. Don't just throw money at something just because you think you need a Patek in the collection. I still have never owned one, but I am still waiting for the right opportunity to come along. You may have to wait over 20 years but at some point you will find that one deal.
So why call it vintage watch hunting? Because that is what some of us do. We are not looking to just walk in somewhere and order up a watch like a hamburger. We are looking for the rare, odd, unusual, or great deal. If we wanted to go and buy a Hamilton 992 we would. If we want to find a Hamilton 992 for half of the value in an original box....you have to hunt. There is a certain thrill to the game. You learn more than you would if you just went in and always bought exactly what you were looking for.
My best deals have always been the unexpected ones...... as you will see. Join me in the hunt and learn what is out there in the unexpected and unusual places. If there can be a watch for sale there...go there.