The 5 Best Vintage Watches Under $20,000

By Charlie Dunne

There are truly special vintage watches out there - many of which do not cost you an arm and a leg! You can find great value in watches well below $10,000. However, in this article I would like to cover some of my favorite vintage watches that fall in a nice price bracket. The following list contains five vintage watches that I believe are among the best options to consider between $10,000 - $20,000. Each of these models can be enjoyed for a lifetime and will always remain a classic choice in my view.

1) Rolex Submariner Matte Dial Reference 5512 & 5513

The Rolex Submariner is an iconic sports watch, and the reference 5512 and 5513 are two of the most collectable references within the model’s history. The reference 5512 entered the picture in circa 1959 as the first Submariner with crown guards (the earliest examples had square crown guards, before going to the eagle beak crown guards, then pointed crown guards, and finishing with rounded crown guards). The 5513 would be introduced shortly after in circa 1962 (with pointed crown guards followed by rounded crown guards). These references certainly played a vital role in establishing Rolex as the preeminent tool watch, and 60+ years later, the watches remain outstanding timepieces.

The Submariner is very similar to the GMT-Master in that it is such a recognizable watch. The 5512 models were equipped with chronometer-grade movements, while the 5513s were the more economic alternative within the Rolex catalog. The 5512 would remain in production from 1959 until circa 1979, while the 5513 was offered from 1962 until circa 1989. These longer production runs with higher output of references can be a key component on why a reference is appreciated by collectors. Some collectors have an approach to search for the rare models. While I love an uncommon timepiece, I would personally suggest approaching models with long production runs, as the opportunities in finding top condition examples is more obtainable. “The biggest shift in collecting over recent years is prioritizing condition above rarity” Eric Wind stated on the subject. “That’s not to say that rarity is unimportant, but rare models - say with a reprinted or distressed dials or in rough condition overall, are not sought after like they were 20 years ago”. In addition, the nuance within the models and evolution is a subject that adds to a wider appreciation in the collecting scene.

When coming up with this list, I found myself coming back to the watch I would most like to own below $20,000 and the no-date Submariner is just a perfect wristwatch. You may want to pay a bit more money if you are case obsessed, as an unpolished 5512/5513 can often run you above $20,000. Gilt dial examples in good condition will end up being more pricey as well. However, when it comes to bang-per-buck, nothing beats a matte-dial Submariner reference 5512/5513!

2) Heuer GMT Autavia 1163 Variants

Over the past year and a half, I have become a big fan of vintage Heuer Autavias - particularly the variants within the reference 1163. If you are asking me, these are among the best tonneau-case sport watches ever produced. The cases are exceptional and were produced by Ervin Piquerez (EPSA). The wide variety in dial variants, chronographs vs GMTs, colorful accents make for one of the most dynamic models within the Heuer catalog. These are fantastically proportioned for the 1970s. They look incredible on the tough, folded link beads-of-rice hybrid bracelets made by Gay Fréres. I am personally looking for a 1163V GMT, but I would certainly love to own a Jo Siffert. If you have a bit bigger of a wrist and are a bit Heuer curious - start thinking about the reference 1163!

3) Rolex Day-Date Reference 1803

On the dressier side is the Rolex Day-Date reference 1803 in yellow gold. The Rolex Day-Date is one of the most recognizable and iconic watches ever made. When introduced, the Day-Date was the epitome of elegance and durability. It also introduced the complicated, yet simplistic layout Rolex uses to this day. Comparing the vintage models - the reference 1803 in particular - to the current catalog we see a very large value proposition in the classic models from the 1960s - circa 1978.

In full transparency, I am not much of a gold watch guy. Nor am I considering a Day-Date for my personal arsenal anytime soon. However, I would be lying if I didn't include these important timepieces within the list. They can be found on gold bracelet for approximately $13,000 while a brand new 36mm will be $39,500 before tax! While I am a bit more passionate about the GMT-Master reference 1675 and Submariner reference 5512s, it is hard to count out this important model! If you are excited by gold watches, and are looking for something timeless the Rolex reference 1803 is a no brainer.

4) Heuer Carrera Reference 2447

I know several collectors who are very passionate about Rolex Daytonas, and I am never surprised to learn they have 2, 3, 4, or more vintage Heuer Carreras! The truth is, a vintage Carrera 2447 is an awesome chronograph and has some serious value. They are among the most respected automobile racing watches and were highly favored by professionals throughout the 1960s-1970s. Today, there are few chronograph models with such variation and this is part of the cult-like following the watch has. The cases are incredibly wearable measuring at 36mm in diameter (45mm lug-to-lug). They look outstanding on both straps and bracelets. These are just one of the best vintage chronograph watches out there and to omit them from this list would be insane.

5. OMEGA “Ed White” Speedmaster Reference 105.003

The OMEGA Speedmaster is an icon with arguably the best history of any watch model. Like Rolex Submariner 5512/5513s, the wide production and variations make an adorned watch that collectors will always be obsessed with. One specific model that deserves attention is the important “Ed White” reference 105.003. These straight-lug models are vey sporty on the wrist measuring 38.5mm in diameter (48mm lug-to-lug). They often were worn as tools and not treated like luxurious items. Therefore, you will see a lot of character on these watches which is very charming.

While the past year has been a bit of a stale one for OMEGA Speedmasters because of the terrible actors involved in the $3.4M Frankenstein reference 2915-1 auctioned in late 2021, the fact remains - Speedmasters are great watches. These models were trading at much higher prices +4 years back, and to be frank, they are too good to not take advantage of when a great model becomes available.