The person buying your pre-owned Breitling in Melbourne today isn't an investor. They're an enthusiast. Someone who liked Navitimers in the 1990s and is now in a position to own one. Someone replacing a vintage piece that needs more service than they want to commit to. Someone who's read enough...

Most people assume a Breitling holds value like a Rolex. It doesn't. The pre-owned discount on most modern Breitling references sits well below RRP, often 25 to 35 percent below for pieces a few years old. That's not a criticism of the watches. It's a function of production volume, brand...