What do the Omega Speedmaster, the Jaeger LeCoultre Reverso, and the Patek Philippe Calatrava have in common? All of them depreciate. This isn't to say there's no retained value, but watches generally lose value on secondary markets. If you're not obsessed with Submariners, Nautilus 5711s, or the AP Royal Oak, there are incredible luxury watch bargains to be had in the used watch marketplace. Tonight, Tim Mosso and Josh Thanos discuss watches that lose value - and how to use that when building your watch collection.

The Omega Speedmaster Professional Moonwatch is an icon. It's also mass produced and has been for decades. When a Speedmaster Professional "sapphire sandwich" retails for $9,000, you can be certain that lightly used examples can be found for $6,000-$7,000. This is true even when the Omega Speedmaster in question is equipped with a full bracelet and intact with its complete set of boxes and papers. There's nothing wrong with the watch - NASA trusts it for space flight - but watches made by the hundreds of thousands offer more value in fun, memories, and good times than as investments.

And let's be clear; watches are not investments. For every F.P. Journe auction record and every Chronometre Bleu waiting list, there's a Laurent Ferrier of comparable or better quality beckoning to be bought for cents on the dollar. Consider the Audemars Piguet Royal Oak Jumbo; many will try and fail to get an allocation. But if you want an AP with true holy trinity cachet, complications, and a stainless steel case, consider the AP Code 11.59 Chronograph.

With the same movement as a Royal Oak Chronograph and the benefit of the same Audemars Piguet chronograph caliber - 4401 - as in the Royal Oak Chronograph. The Code 11.59 Chronograph makes sense as a used watch due to a five-year warranty, first owners who generally baby their watches, and solid engineering. When a watch can be bought for $10,000 less than when new, it's an opportunity for watch collectors seeking high value.

The Vacheron Constantin Historiques American 1921 is another example of an iconic watch with a soft aftermarket. Despite retail prices that surpass $40,000, resale prices often peak in the high $20,000 range. This watch embodies all that makes Vacheron great, and it has changed little since its 2008 launch, so even an older model is up to date. The Vacheron 1921 is revered and universally recognized by watch collectors with the most discerning taste. But a weak market for used examples means that buyers with a lower budget can obtain an all-time great classic watch for tens of thousands of dollars less than the retail price.

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