Collectors watch as the value of timepieces rises

Li Wei wears a Shanghai-brand watch that was made in 1966. It looks new.

"Since the birth of Chinese watches in 1955, their movements have more or less mimicked Swiss products until this piece, which is among the first independently designed by Chinese people," says the 48-year-old who is a member of the Beijing Collectors' Association, and head of the Chinese watch division of Watchlead.com, an online forum with more than 40,000 members.

"Each watch has its own legend in my eyes," says Li. "They don't have to be equipped with tourbillon or other fancy gadgets."

He does not want to say how many Chinese watches he has collected because he says the number doesn't matter.

"When you collect to outnumber others, you have gone in the wrong direction," he says.

Li used to be an old camera collector, but was astonished to find many old Chinese watches were sold cheaply in Beijing's antique markets.

"A Chinese watch usually sold for just 3 (47 US cents) or 5 yuan about 10 years ago. I could get a bag of watches each time I went."

Chinese watches reached their zenith in the 1980s, but later declined in popularity due to quartz watches and the entry of Swiss brands.

"I realized the history of our own watch manufacturing would soon vanish if we did not do something."

A historical file of Chinese watches at that time was incomplete, so he began looking through old media to trace old watchmakers for interviews.

"It is sometimes hard to find the makers' name because of the collective tradition in those years, when individuals were usually not emphasized."

It took years for Li to track down the Qingdao Watch Factory in Shandong province, in 2008, to find Sun Tiankong, who made a watch Li owns.

"The old man immediately told me the watch was made by him, with a simple glance," Li recalls.

"He was too excited to sit down when talking about how he made it."

Li was overjoyed to find it was the oldest watch made in Shandong.

He continued writing articles online introducing the origins of old Chinese watches and this attracted others.

"Once I write down a story, I feel relieved to have recorded a period of history. I do this work not for patriotism, but I want to be responsible for what I love.

"You cannot simply say Chinese watches are not as good as Swiss ones. When you regard them from a historical point of view, you will see how many achievements have been made," Li says.

But he also says big companies that have developed tourbillons are attracting too much attention, as opposed to small factories and independent watchmakers.

He is happy to establish a forum for collectors to exchange information and make his work easier.

Along with more attention, the price of Chinese watches has also rocketed in recent years. It often takes tens of thousands of yuan to get a well-preserved one.

"No end for watch collecting, and money makes the boat," he smiles, quoting a popular saying among his colleagues, the parody of an ancient Chinese poem.

According to Wang Mengjin, 65, deputy head of China Horologe Association, Chinese have been keen on watch collecting since the late 1990s. Domestic watches began to be popular among collectors about five years ago.

In the early 1980s, Wang collected several old European pocket watches, which were made for emperors of the Qing Dynasty (1644-1911). He says these first collections are only for interest rather than making money.

"I met some watch collectors who were not rich in the 1980s," he continues.

"There were no luxury Swiss brands in China then, but these people collected common ones, which are closely related to their own experience."

For example, the country once produced watches for those who cultivated Beidahuang, in Heilongjiang province, which was later turned into a grain production base. They became precious among those who participated in the campaign.

However, Wang says the reason why many collectors pursue watches today is purely monetary.

"Watch collecting is not like philately. You have to play with these machines from time to time and it's better to keep them moving. So, it will be meaningless to throw them in your drawer and wait for the price to rise," Wang says.

He adds ignorance means there are plenty of counterfeit articles.

"Someone will fabricate the historical background of certain watches to speculate and push the price of a common old Chinese watch to a very high price. A disappointing truth is many amateur collectors are easily cheated," he says.

"Collecting Chinese watches shouldn't be a fad," Wang says.

"But it is a chance to nurture our watch culture and know our own history better."