From watches and accessories to clothing and trunks, treasures of the past are luring Asia's most wealthy
The motto of luxury consumers in Asia used to be: "Out with the old, and in with the new." But that sentiment is starting to change as vintage fashion becomes increasingly popular throughout the region
As luxury brands have become more ubiquitous, the Chinese consumer is now looking for unique fashion items that are exclusive and available to only an elite few. What better way to show off your style prowess than with a rare Rolex timepiece or one-of-a-kind Hermès handbag?
"Vintage is the 'in' trend in Asia now, whether it's decorating your house or buying that cool car that no one else has. In fashion, it's ultimately about the accessories, like a vintage watch or a vintage croc Kelly slung on your shoulder," says Eric Ku, a vintage watch dealer and owner of 10 Past Ten, which is exhibited in Hong Kong through Lane Crawford.
It's no secret that watches are the most popular category for vintage collectors in Asia, especially among men. While modern brands, such as Franck Muller and Richard Mille, appeal to the nouveau riche, the more sophisticated shopper is lusting after rare models from established horology specialists, such as Rolex and Patek Philippe.
"They are the two blue chips of the vintage watch world. Both brands have storied pasts, and their histories are the stuff of legend. Rolex watches were used by the explorers who first climbed Everest. Patek Philippe, on the other hand, has a history of bespoke and personalised services, making it a favourite among titans of industry and nobility," Ku says.
When it comes to investing in vintage watches, he says the watch's condition is of the utmost importance. Two of the same styles in varying conditions can differ in price dramatically - details are everything. Customers should pay attention to original parts, as models with modified parts will be less valuable. Then it's about knowing what to look for. A vintage Rolex, for example, will have acrylic crystal glass covering the watch's face as opposed to sapphire crystal, which was only introduced in the 1980s.
"Fakes are relatively easy to spot, but when in doubt look at the details. A refinished dial on a rare watch could kill the value, as could an over-polished case or any other negative detail. Before becoming an expert yourself, it is important to work with a reputable and honest dealer that will help you avoid pitfalls," Ku says.
As for market trends, he says under-the-radar brands - including Audemars Piguet (especially Royal Oak models from the 1970s), Longines Chronographs and vintage Blancpain diving watches - are favourites.
While watches top men's wish lists, women cannot resist the lure of a vintage handbag, especially from renowned brands such as Hermès and Chanel. According to Nicola Robinson, founder of London-based Hermès vintage specialist Maia, rare styles that are discontinued are among the most desirable. She says Hermès bags that are 10 years or older are classified as "vintage", while model doesn't necessarily determine the price.
"It's all about what's rare and individual, rather than what's popular [like a Kelly or Birkin]. Right now, styles from the 1990s are hot," she says.
