Follow this link (which you won't be able to do unless you join the IHC):

• Watch buying checklist
• BW Raymond case history

1. Get the book "Complete Price Guide to Watches" to compare and check values. Remember, generally speaking the first figure (ABP) represents fairly close to what the watch is worth to a dealer before servicing the watch.
2. Observe the watch for eye appealing qualities.
3. Try to determine if the crystal is glass or plastic; glass preferred!
4. Yellowed plastic crystal? Bad news ! It's rusted the hands and who knows what else.
5. EZ off/on bezels or not? On H/C's ask if front case spring works when you depress the crown. Ask if all lids stay shut firmly and never come open unexpectedly. If there are hinged lids involved ask to what degrees they open to, factory specs call for 90 degrees or slightly less.
6. Look at dial closely and enlarge to 5-8 times what it shows and look for all defects, chips, hairlines, edge flakes. Check the hands for loss of blueing and/or rust and whether the hands match one another. If no picture is shown, ask the seller to send or display a picture with that bezel off so you can study the dial. You may not be able to afford perfection, but its a better long term investment!
7. On the movement, first acknowledge that all pieces are present, screws, regulator springs, etc. Look for rusting on any high carbon steel parts such as winding/crown wheels, regulator parts, and screws. Look for scratches on the movement. Look at the lettering, red, gold, black, or are they washed out. Beware of stains on gilt or nickel plates as they are probably going to remain. If the balance is moving, ask for a picture of it NOT moving so you can observe balance screws and cut/uncut balances. If the regulator isn't close to center and it's more towards F/S, then count on a COA (clean, oil, adjust) when it arrives.
8. Look at the case screws that hold the movement to the case. If they are half head screws it's a 90% chance that the sharp edge of those screws has cut nasty grooves. Check all the plate screws looking out for burred head screws that will show sloppy maintenance and/or improper tools. Also look for other case screw marks around the case rim which will tell you at a glance its a recased watch for sure.
9. Now observe the case itself for wear to brass on gold filled cases. The surest and first places we see wear to brass is on the bow and pendant area. Next are the highest points on the case design and/or engravings and the case back itself on the screw back and bezel (SB&B) cases where the lid starts sloping off towards the edge or threads. If you are seeing a slightly different color or "shadow" you may be looking at wear to brass. If you question what seller says or what you see, then do the Q&A with the seller. Look for dents, deep scratches or a waviness to the flat or near flat case back or cover as they affect the value of the watch greatly!!
10. If the seller doesn't answer your question, ask again, but ask in the first few days of the auction. Don't expect an answer in the final hour or moments of the auction ending.
11. Many watches were factory cased and some were sold as movements only and some were sold both ways. If you don't know the "right and wrong" of what you are looking at, ask somebody who does.
12. Cases, dials, movements and hands are the four main components of a watch. Learn to be "era correct" in your purchases and collecting. Any mismatch of components is not correct and will not be acceptable to advanced collectors nor to the market. Here's the deal, for decades of past sellers, components have been switched to make the higher dollar or fast buck. We are just moving into the era where correctness is the market, all others are only this; "parts watches", frankensteins, etc. etc. etc. It's hard and expensive today to ever make a right from a wrong.
13. Buy the best quality in the offered/assembled watches that you can afford simply because today upgrading components is way too costly and unfortunately buying individual components for watches will cost more than already assembled and correct watches.