Inherited Breitling Chronomat I know nothing about watches

[PostHeads123]

I know nothing about watches but inherited this Breitling chronomat a few years back, it came with a the box and bits, serial number etc its 1999 and has a mother of pearl face.

A few questions, I want to insure it I got it valued at Goldsmith's the jewellers and they said to replace over £11k which seems very high but I have no idea do they just bump up values for insurance if so where can I get more accurate valuation from? What's best way to insure a watch if I put it on my home insurance at that Goldsmith valuation it added £85 that reasonable?

Do I need to get the watch serviced or anything? I don't intend to sell it but pass it on when I die but I want to make sure it just doesn't seize up etc at moment it just lives in a cupboard.

Thanks

[Seight_Returns]

Insurance values are always higher than what you would realistically get if you sold it.

A watch broker will give you an informal idea of value but obviously will not certify their valuation without payment. Search out Blowers Watches or Hacket Watches (Dom Hacket is a PH legend who many of us have bought watches from or sold watches to and invariably been treated very well by).

If I wasn't intending to use the watch and it's working and I just wanted to keep it keep it as an investment to pass on - I personally wouldn't bother having it serviced, just wind it and move it around occasionally.

[Zoon]

WF have one, albeit with a black face for just over £3K

https://www.watchfinder.co.uk/Breitling/Chronomat/...

[Jamescrs]

I think the watchfinder price is far more accurate than what Goldsmiths have quoted as a price to buy something similar new at retail.

It would be like me trying to insure my Porsche 986 Boxster for 40k because that's what a new Boxster costs where in reality it's worth maybe 8k.

It's probably worth phoning your home insurance provider and telling them you value it at maybe 4k and see if they would require a certified valuation.

As for servicing it, if it's running ok my view would be leave it alone, if you choose to wear it and find it doesn't keep proper time and you want to wear it then a service will be worth while but I wouldn't be surprised if a service on that watch from Breitling is in the high hundreds at least.

[Guycord]

I purchased my Chronomat in 1999 and still have the receipt. £1840 from Dysons in Leeds

It has been my daily beater at work (dirty, wet, industrial) and has been solid.

I would imagine the bracelet and the MOP dial probably raised the initial price a few quid but I don't see it getting anywhere £11k.

I guess you can go either way on your insurance....NFO or specific value. One will be cheaper that the other??

[Alorotom]

It’s a lovely piece - shame to have it sit in a cupboard but appreciate the reasoning

[PostHeads123]

Thanks everyone.

Yeah I will probably get another valuation but the watchfinder price is about what I thought, the Goodsmith valuation I paid for accepted by insurance(.

I do wear it sometimes it seems in very good nick for 23yr old watch, feels heavy.

Cheers

[bristolbaron]

99% of home insurance works on a ‘new for old’ basis, so the figure you’ve been given would be correct.
You can get a second hand replacement value valuation completed which may be accepted by your insurers. I’d confirm this with them before paying for one though.

Whilst I understand the sentiment behind keeping it to pass down, if you don’t like or wear it then what are the chances your child will? Personally I’d take the chance to trade it for something of equivalent value you would wear, that your child will remember dad wearing.

[Jenny Tailor]

If you were tempted to sell it on Chrono24 it would propose a real world price before you hit "Submit..."

I know very little about watches - but £11K for a Breitling does seem a bit out there.