Hong Kong collector Albert Chan hunts vintage Cartier for the chase, not the catch

He turns to the two Pateks on the table next to us. “Perpetual calendar [wrist]watches were [first released] by Patek Philippe a hundred years ago—it’s the [centenary] this year, which is why I wanted to highlight these pieces,” he explains. “One is from the 1980s—it’s remarkably slim and incredibly charming, yet wearable every day. The other is a more modern version, running on essentially the same movement, though it’s been refined for better efficiency and reliability.

“Both are unmistakably Patek Philippe in design ... but they reflect the evolution in style and technology over the decades. The vintage perpetual calendar is a personal favourite; the size is perfect at 36mm and, despite its age, it feels just right even by contemporary standards. The modern version is sportier, a bit bigger and a lot more expensive, especially since it’s crafted entirely in 18-karat rose gold.”

He owns several watches from the big names, including more Patek Philippes as well as Rolexes and Cartiers; but he also has a soft spot for independents—not only in terms of the timepieces, but also because of the relationships he builds. His favourite is MB&F, Maximilian Büsser’s revolutionary brand. “The owner comes to Hong Kong maybe once a year to meet collectors, have cocktails or even dinner with us. You can’t imagine this happening with the big brands. You can’t even meet the Hong Kong head of Rolex or Patek, let alone the guy sitting in Geneva. But here we are, meeting Max Büsser personally, telling him why you like the watch and what you’d like to see in his future designs.

“This sort of personal relationship is [generally] unheard of. Of course, the big brands have their charm— they have history and heritage, and independents don’t have that. What they have are creativity, surprises and personal relationships. That’s something money can’t buy.”

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He is also inspired by small brands that take inspiration from, then surpass, the better-known maisons: he pulls out “the highlight” of what he’s brought with him—a world time piece with a cloisonné enamel dial, made by Shellman, a Japanese retailer, in homage to the Patek Philippe reference 2523. But the Japanese version added something surprising: a minute repeater. The original Patek Philippe from the 1950s sold at Phillips auction two years ago for 7 million Swiss francs. The Japanese homage sold for a fraction of that price “because it’s a quartz [movement] inside. But it’s equally impressive.”

Despite this fondness for the non-traditional, Chan has recently been “moving away from modern, new watches. In the past, I used to watch all these new releases very closely. But I don’t get very excited anymore.” He uses Cartier as an example, showing me a Cintrée from the CPCP programme—Collection Privée Cartier Paris—and pointing to the guilloché dial, with its rose pattern and specially engraved movement. “This watch is from about the year 2000. Then two years ago, Cartier relaunched the Cintrée: very expensive, but without the guilloché dial and without a sapphire back. Why should I get a new one if an old one is so superior in design and [costs much less]?” This realisation redirected his focus to what he calls “neo-vintage”: vintage models. Where’s the creativity, man? Why were people more creative in the past than today? You [didn’t see] brands in the 1950s or 1970s relaunching [watch models] from [earlier eras],” he says.

Cartier is also his go-to for vintage purchases, “because it’s the only brand with such a huge range, from a US$10,000 quartz Tank to beautiful, complicated pieces. The brand isn’t selling the movement; it’s pieces from the 1980s through 2000, “watches that would still not be out of fashion ten, 20, 30 years from now. That’s one of the criteria I look at.”

When asked what brought him back to collecting vintage watches— Cartier specifically—three years ago, Chan partly credits the trend of relaunched vintage models, but also something deeper. “Big brands— Cartier, Vacheron Constantin, Piaget—they all relaunched their selling shapes and designs. That’s why people call Cartier the king of design, the king of case shapes. Nobody’s copying it. Nobody can.”

Chan’s practical advice to others looking to collect Cartier as an investment: “Don’t buy round watches ... Maybe 70, 80 per cent of watches in the world are round; Cartier doesn’t want to follow the herd, so they produce peculiar shapes, and that becomes a unique trademark.”

Although he has very specific opinions about watches, his philosophy on collecting them boils down to two basic rules: “Buy from the seller—trust the seller, buy from reliable dealers. And secondly, [check] its condition, plus [get] full set [of watch, box and papers] if you can find them. If you can’t, then wait. Never rush.”

He also has a rule that prevents him from becoming a hoarder. “There are famous collectors who have 600 to 1,000 watches. I watched a video just this morning of a guy with 600 Patek Philippes. He probably wouldn’t remember them exactly and wouldn’t have the chance to wear them. So I limit myself to a certain number with a total value. I [only] buy new ones if I can dispose of some old ones; this way, my collection changes.”

So, what’s next on Chan’s wish list? He pulls out his phone to show a Vacheron Constantin Mercator with vintage cartographic dials—his favourite is the version created to commemorate the 1997 Hong Kong Handover. “It even has a Hong Kong junk,” he says. The watch was limited to just 30 pieces. “If you miss those 30, you have to wait for your whole life to see one emerge.”

But for a collector who is not building a museum but living with these objects—letting them in and then letting them go—this is part of the appeal. “The search is the most enjoyable part of the journey, which sadly means once you’ve found it, that’s the end.” As he carefully places each Cartier back into its box, he glances at his phone one more time. The Vacheron Constantin Mercator is still there in his bookmarks, waiting. The search continues.

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