There were some strong Heuer auction results earlier this summer, a couple of which were perhaps out of synch with the market (namely one or two dubious Rindts and a couple of black PVD IDF Autavia). However generally rare Heuers are achieving market highs, with auction highlights including beautiful versions of 2446 1st execution, 2446 Seafarer, 2nd execution 2446, PVD Monaco and this past weekend a 2447SN Carrera and 2446 Solunagraph, again all achieving strong results. In particular the 2446 1st execution (right now, one of the hottest vintage watches of any brand) was interesting as it initially sold at what I believed was under market value via Watches Of Knightsbridge to a dealer. It being undervalued was born out, as it was flipped quickly for a profit and then again sold on to a top collector recently, amply highlighting the demand for the best Heuer pieces. Whilst the more commonplace Heuer models are not as in demand as the "rarebirds", we are seeing the "rising tide" lift values on most pieces.

As I have mentioned since the inception of the price guide, quality really does matter and I believe the gap between the very best references, in the best condition and "the rest" will continue to grow further. I feel we are only just starting to see and understand the true value and importance of the very best vintage chronographs and the latest Phillips Geneva watch sale "Four" amply highlights this trend. The "value gap" between the best and the rest is reinforced when we have seen auctions with watches that are average references in average condition and with perhaps some doubt about originality of parts. This is why I continue to advocate the "less is more" rule, better to own a few amazing pieces than multiples in average condition, whether that be for ownership experience or as an investment, after all we only have two wrists for watches ;)

What is also becoming clear, is that the demand for early Carrera is on the rise (in a similar way to the screw back case Autavia models in prior years) and it would not surprise me if some of the "holy grail" references end up at similar levels to the most coveted Autavias in both desirability and value. I'm thinking here of the 2447SN variants, 2447 Seafarer, 7754 Skipper, to name but a few. There is also very strong demand for 2447 Yachting, 2447NS variants and the very early 2447S and N (pre T dial from 1963, with early serial and early Ed Heuer movement and case backs) but to be honest all the 60s Carrera models in great condition are on the rise. Like the Autavia the most desired are sadly around in tiny numbers.

The two model ranges mentioned above are now firmly established amongst Heuer collectors as the "golden years" and I don't see much change in this going forward. Whilst there has not been a significant change in the models that would make up the top 25 most desired Heuers over the past two years (refer to the Sept 2014 guide update below for the top 25 list at the time), it would be fair to say there has been some change in the "pecking order" within the list...

To sum up, 2016 was another strong year for vintage Heuer values as it was for the best vintage chronographs in general and I would not be betting on anything too different in 2017 as supply continues to get much tighter and demand stronger. The 13th edition of the guide shows the strength of the market with some significant changes. It is mostly green (up) with some white (static), with no red (values moving down). I have expanded the 1960s Carrera section to better describe the series and show more data and adjusted some grading. Also note only grading A++ and A+++ are now XXXXX, (without values). The next update will be May 2017.