Reference
Glossary
153 terms from the watch trade, defined in plain English with what each one means for how you buy, price, and sell.
A
- Acrylic crystalCase, dial & braceletAn acrylic crystal is a plastic dial cover, common on older watches and still used on some models, sometimes under trade names such as Hesalite.
- AftermarketCondition & originalityAftermarket describes parts or modifications that did not come from the watch's manufacturer, such as third-party dials, bezels, bracelets, diamond settings, or coatings.
- Aged inventoryBusiness & complianceAged inventory is stock that has sat unsold for longer than you planned, tying up money and adding carrying cost every day it remains.
- AML programBusiness & complianceAn AML program is the written anti-money-laundering programme that federal rules require of dealers in precious metals, stones, and jewels who meet the rules' thresholds.
- AmplitudeMovements & precisionAmplitude is how far the balance wheel swings in each oscillation, measured in degrees, and it's one of the main indicators of a mechanical movement's health.
- Annual calendarMovements & precisionAn annual calendar is a complication that adjusts automatically for months of thirty and thirty-one days, needing a manual correction only once a year at the end of February.
- AntimagneticMovements & precisionAntimagnetic describes a watch designed to resist magnetic fields, either by shielding the movement with a soft-iron cage or by using non-magnetic materials in critical parts like the hairspring.
- Asking priceBuying & sellingThe asking price is what a seller lists a watch for, as opposed to the price it actually sells at.
- AuctionBuying & sellingA watch auction is a sale where buyers bid against each other, run by an auction house either in a saleroom, online, or both.
- AuthenticationAuthenticity & provenanceAuthentication is the process of confirming that a watch is genuine and that its parts are correct for the reference, by examining the case, dial, movement, bracelet, and markings, and comparing them with verified examples.
- Authorized dealerBuying & sellingAn authorized dealer, or AD, is a retailer appointed by a watch brand to sell its new watches, with stock supplied directly by the brand and the brand's warranty applying from the date of sale.
- Automatic movementMovements & precisionAn automatic, or self-winding, movement is a mechanical movement that winds itself as the wearer moves, using a weighted rotor that turns and tightens the mainspring.
B
- Balance wheelMovements & precisionThe balance wheel is the weighted wheel in a mechanical movement that swings back and forth at a steady rate, working with the hairspring to divide time into equal beats.
- Beat errorMovements & precisionBeat error is the difference in timing between the two halves of the balance's swing, showing how evenly the movement ticks.
- Beat rateMovements & precisionBeat rate is how many times per hour a mechanical movement's balance swings back and forth, usually stated in beats or vibrations per hour.
- BezelCase, dial & braceletThe bezel is the ring around the crystal on the top of the case. It can be fixed and purely decorative, or it can rotate and carry a scale for timing, a second time zone, or other readings.
- Bill of saleBusiness & complianceA bill of sale is a document recording the transfer of a watch from seller to buyer, typically showing the parties, the watch and its serial, the price, and the date.
- Box and papersCondition & originalityBox and papers is shorthand for a watch that comes with its original presentation box and its papers, usually the warranty card or certificate issued at the original sale.
- BraceletCase, dial & braceletA bracelet is a metal band made of links that attaches the watch to the wrist, as opposed to a strap made of leather, rubber, or fabric.
- Bracelet stretchCase, dial & braceletBracelet stretch is the looseness that develops in a metal bracelet over years of wear, as the pins and links wear and the bracelet sags when held horizontally.
- Brand new in boxBuying & sellingBrand new in box, or BNIB, describes an unworn watch with its full packaging and papers. Like new in box, or LNIB, describes a watch that has been worn very lightly but comes complete.
- Break-evenBusiness & complianceBreak-even is the point at which a deal covers all its costs and makes no profit. Before you buy, it's the most you could pay and not lose money; after you buy, it's the lowest sale price that recovers what the watch cost you.
- Buyer's premiumBuying & sellingA buyer's premium is a fee an auction house adds on top of the winning bid, paid by the buyer as a percentage of the hammer price.
C
- CaliberMovements & precisionCaliber, or calibre, is the name or number a maker gives to a specific movement design, used to identify it across the watches that use it.
- Carrying costBusiness & complianceCarrying cost is what it costs to hold a watch in inventory until it sells, chiefly the cost of the money tied up in it, whether that's interest on credit or the next deal you can't do.
- Case diameterCase, dial & braceletCase diameter is the width of a watch case, usually measured across the case excluding the crown, and stated in millimetres.
- Case linesCondition & originalityCase lines are the sharp edges, bevels, and contrast between brushed and polished surfaces that a maker designs into a watch case and its lugs.
- CasebackCase, dial & braceletThe caseback is the back cover of the watch case, which seals the movement inside. It can be solid, often engraved, or a display caseback with a window.
- Certificate of occupancyBusiness & complianceA certificate of occupancy is a local document confirming that a building or unit may be used for a particular purpose under building and zoning rules.
- Certified pre-ownedBuying & sellingCertified pre-owned, or CPO, describes a pre-owned watch that has been inspected, authenticated, and often serviced by a brand or dealer, and is sold with a warranty from that seller.
- ChargebackBuying & sellingA chargeback is a reversal of a card payment initiated by the cardholder's bank, usually after the buyer disputes the charge, which pulls the money back from the seller.
- ChronographMovements & precisionA chronograph is a watch with a built-in stopwatch function, usually started, stopped, and reset with pushers on the side of the case.
- ChronometerMovements & precisionA chronometer is a watch whose movement has passed an official precision test. In Switzerland, the title is certified under ISO 3159, which requires a mechanical movement to keep an average daily rate between minus four and plus six seconds a day.
- ClaspCase, dial & braceletThe clasp is the fastening that closes a bracelet or strap, such as a folding deployant clasp on a bracelet or a buckle on a strap.
- Co-axial escapementMovements & precisionThe co-axial escapement is an alternative to the conventional lever escapement, designed to reduce sliding friction in the movement, and is used most widely by Omega.
- CommissionBusiness & complianceA commission is a fee charged by a platform, auction house, or agent, usually calculated on the sale price when a watch sells.
- ComplicationMovements & precisionA complication is any function of a watch beyond telling the hours, minutes, and seconds, such as a date, chronograph, second time zone, moonphase, or calendar.
- CompsBuying & sellingComps, short for comparable sales, are recent sales of the same or closely matching watches used to estimate what a watch is worth.
- Condition gradingCondition & originalityCondition grading is the practice of describing a pre-owned watch's state with a short label, such as unworn, excellent, very good, or fair, usually backed by a description of any wear.
- ConsignmentBuying & sellingConsignment is an arrangement where a dealer sells a watch on behalf of its owner and pays the owner an agreed amount after it sells, instead of buying it up front.
- Consignment agreementBusiness & complianceA consignment agreement is the written contract between a dealer and a watch's owner setting the terms on which the dealer will sell the watch on the owner's behalf.
- ConsignorBuying & sellingThe consignor is the owner who hands a watch to a dealer to sell on their behalf under a consignment arrangement. The dealer receiving it is sometimes called the consignee.
- COSCMovements & precisionCOSC, the Swiss Official Chronometer Testing Institute, is the independent body that tests and certifies Swiss watch movements as chronometers under ISO 3159.
- Cost of goods soldBusiness & complianceCost of goods sold, or COGS, is what the inventory you sold cost you, deducted from sales to work out your gross profit for tax purposes.
- CounterfeitAuthenticity & provenanceA counterfeit is a watch made to imitate a genuine branded watch and passed off as, or mistaken for, the real thing.
- Covered goodsBusiness & complianceCovered goods is the term the federal anti-money-laundering rules for dealers in precious metals, precious stones, and jewels use for the items those rules reach.
- Crafted precious metalBusiness & complianceCrafted precious metal is a category defined in the Texas Occupations Code for items made wholly or partly of precious metal, and it's the basis of Texas's rules for crafted precious metal dealers.
- CrownCase, dial & braceletThe crown is the knob on the side of the case used to wind a mechanical watch and set the time and, on many watches, the date.
- Crown guardsCase, dial & braceletCrown guards are raised shoulders on the case on either side of the crown, protecting it from knocks.
- CrystalCase, dial & braceletThe crystal is the transparent cover over the dial. Modern luxury watches usually use sapphire crystal; older watches often used acrylic.
- CyclopsCase, dial & braceletA cyclops is a small magnifying lens fitted on the crystal above the date window, making the date easier to read.
D
- Date windowCase, dial & braceletThe date window is the opening in the dial that shows the date disc beneath.
- Dealer to dealerBuying & sellingDealer to dealer describes trades between professional watch dealers, rather than sales to end buyers, often at wholesale prices and without a marketplace in between.
- DialCase, dial & braceletThe dial is the face of the watch, carrying the hour markers, printing, and often the logo and other text, beneath the hands.
- Discontinued referenceBuying & sellingA discontinued reference is a watch model the brand no longer produces, typically replaced by a newer version or dropped from the collection.
- Display casebackCase, dial & braceletA display caseback has a transparent window, usually sapphire, that shows the movement from the back of the watch.
- Dive watchCase, dial & braceletA dive watch is a watch built for underwater use. The international standard for divers' watches, ISO 6425, covers watches designed to withstand diving to at least one hundred metres with a secured way of showing diving time that is visible in darkness.
- Due diligenceBusiness & complianceDue diligence is the set of checks a dealer carries out before buying a watch: confirming it's genuine and correct, that its papers match, where it came from, who is selling it, and what local rules apply.
E
- EbaucheMovements & precisionAn ebauche is a basic movement supplied by a specialist maker for a watch brand to finish, modify, and put into its own watches.
- Economic nexusBusiness & complianceEconomic nexus is the rule that a business with no physical presence in a state can still owe that state's sales tax once its sales into the state pass a set threshold.
- End linksCase, dial & braceletEnd links are the pieces at each end of a bracelet that connect it to the case between the lugs.
- EscapementMovements & precisionThe escapement is the part of a mechanical movement that releases the mainspring's energy in small, regular steps, giving the balance its impulses and producing the watch's tick.
- EscrowBuying & sellingEscrow is an arrangement where a third party holds the buyer's payment until the buyer has received and accepted the watch, and only then releases it to the seller.
F
- Factory stickersCondition & originalityFactory stickers are the protective films applied by manufacturers to parts of a new watch, commonly on the caseback, clasp, or case, to protect the finish before it's worn.
- Final value feeBusiness & complianceA final value fee is the fee eBay charges a seller when an item sells, calculated on the total amount of the sale.
- FlippingBuying & sellingFlipping is buying a watch, often new from an authorised dealer, with the intention of reselling it quickly for a profit, usually because it trades over retail.
- Form 1099-KBusiness & complianceForm 1099-K is the information return payment platforms and marketplaces file with the IRS to report payments made to sellers, with a copy sent to the seller.
- Form 8300Business & complianceForm 8300 is the IRS and FinCEN form a business must file when it receives more than $10,000 in cash in one transaction or in related transactions.
- FrankenwatchCondition & originalityA frankenwatch is a watch assembled from parts of different watches, sometimes mixing genuine components from several pieces, and sometimes combining genuine and aftermarket parts, so that the result doesn't match any watch the maker produced.
- Full setCondition & originalityA full set is a watch offered with everything it originally came with: the box, the warranty card or certificate, manuals, tags, and any spare bracelet links, often along with the original receipt.
G
- Ghost bezelCondition & originalityA ghost bezel is a bezel insert, usually on an older dive or travel watch, whose colour has faded dramatically over time, often from black or blue to a pale grey or blue.
- GMTMovements & precisionA GMT watch shows a second time zone, usually with an extra hand that goes around the dial once a day, often read against a twenty-four-hour bezel or chapter ring.
- Gray marketBuying & sellingThe gray market is the sale of new, genuine watches through channels the brand hasn't authorised, typically by dealers who source stock from authorised dealers or distributors and resell it independently.
H
- Hacking secondsMovements & precisionHacking seconds is a feature that stops the seconds hand when the crown is pulled out to set the time, so the watch can be synchronised precisely.
- HairspringMovements & precisionThe hairspring, or balance spring, is the fine coiled spring attached to the balance wheel that makes it oscillate at a steady rate.
- HallmarksAuthenticity & provenanceHallmarks are official stamps on precious-metal cases and bracelets showing the metal's purity, and in some systems where and when it was tested.
- HandsCase, dial & braceletThe hands are the pointers that indicate the time and any complications on the dial.
- Helium escape valveCase, dial & braceletA helium escape valve is a one-way valve on some professional dive watches that lets helium, which can build up inside the case during saturation diving, escape during decompression without damaging the crystal.
- Holding periodBusiness & complianceA holding period is a requirement in some cities and states that a dealer keep a purchased item, unaltered and unsold, for a set time after buying or reporting it, so police can check it against theft reports.
- Hour markersCase, dial & braceletHour markers, or indices, are the marks on the dial that show the hours, whether printed, applied as separate metal pieces, or filled with luminous material.
I
- In-house movementMovements & precisionAn in-house movement is one designed and made by the watch brand itself, rather than bought in from a specialist movement maker.
- Intake recordBusiness & complianceAn intake record is a dealer's own record of each watch taken into stock, capturing the watch, its serial and condition, what came with it, the seller, the deal, and the checks performed.
J
L
- LiquidityBuying & sellingLiquidity is how quickly and reliably a watch can be sold at a fair price. A liquid reference has plenty of buyers and sells fast; an illiquid one may take months or need a discount.
- LoupeAuthenticity & provenanceA loupe is a small magnifying glass used by watchmakers and dealers to examine a watch's dial, printing, engravings, and finishing in detail.
- Lug widthCase, dial & braceletLug width is the distance between the lugs where the strap or bracelet attaches, usually stated in millimetres.
- Lug-to-lugCase, dial & braceletLug-to-lug is the length of the watch case from the tip of the top lugs to the tip of the bottom lugs.
- LugsCase, dial & braceletLugs are the projections on a watch case that hold the bracelet or strap in place.
- LumeCondition & originalityLume is the luminous material applied to a watch's hands, dial markers, and sometimes bezel so it can be read in the dark.
M
- MagnetizationMovements & precisionMagnetization is when parts of a mechanical movement, most often the hairspring, become magnetised by exposure to magnets in everyday objects, causing the watch to run erratically, usually much faster.
- MainspringMovements & precisionThe mainspring is the coiled spring inside the barrel of a mechanical movement that stores the energy released to drive the watch.
- Manual-wind movementMovements & precisionA manual-wind, or hand-wound, movement is a mechanical movement that must be wound by turning the crown, with no rotor to wind it automatically.
- MarginBusiness & complianceMargin is profit expressed as a share of the sale price: how much of what the buyer paid you kept after every cost.
- Marketplace facilitatorBusiness & complianceA marketplace facilitator is a platform that sells on behalf of third-party sellers and, under many states' rules, is responsible for collecting and remitting sales tax on those sales.
- MarkupBusiness & complianceMarkup is profit expressed as a share of what you paid: how much you added on top of your cost.
- Master ChronometerMovements & precisionMaster Chronometer is a certification for complete watches, developed with and issued by the Swiss Federal Institute of Metrology, METAS, and used most prominently by Omega.
- Matching serialsAuthenticity & provenanceMatching serials means the serial number on a watch agrees with the number on its papers, and, where relevant, on other documents such as receipts or service records.
- Max buyBusiness & complianceMax buy is the most a dealer should pay for a watch and still reach their target profit, worked out backwards from the expected sale price after every selling and ownership cost.
- Mechanical movementMovements & precisionA mechanical movement keeps time using stored energy from a wound mainspring, released in controlled steps through a gear train and an escapement regulated by a balance wheel.
- Modified watchCondition & originalityA modified watch is one that has been altered from its factory specification, for example with an aftermarket dial, added gem-setting, a coating, or a changed bezel.
- MoonphaseMovements & precisionA moonphase is a complication that shows the current phase of the moon, usually through a window where a disc with a moon image rotates.
N
- Net proceedsBusiness & complianceNet proceeds are what actually reaches your account from a sale after the channel's fee, payment processing, shipping, and insurance to the buyer have been taken out.
- New old stockCondition & originalityNew old stock, or NOS, means a watch or part that was made some time ago but has never been sold to or used by an end customer, typically inventory that sat with a retailer or distributor.
O
P
- PatinaCondition & originalityPatina is the natural ageing of a watch's materials over time, most often seen as luminous material turning cream or brown and dials or bezels fading or changing colour.
- PawnbrokerBusiness & complianceA pawnbroker is a business that lends money against items left as collateral, which the borrower can redeem by repaying the loan, and which the pawnbroker may sell if the loan isn't repaid.
- Payment processing feeBusiness & complianceA payment processing fee is what a card processor charges to accept a payment, typically a percentage of the sale plus a small fixed amount per transaction.
- Perpetual calendarMovements & precisionA perpetual calendar is a complication that shows the date, and usually the day, month, and leap-year cycle, and adjusts automatically for months of different lengths and for leap years.
- PolishingCondition & originalityPolishing is the refinishing of a watch's case and bracelet to remove scratches and wear, usually done during a service or before resale.
- Power reserveMovements & precisionPower reserve is how long a fully wound mechanical watch will run before it stops, set by the design of its mainspring and movement.
- Pre-ownedBuying & sellingPre-owned describes a watch that has been sold at retail before, whether or not it was worn, and is now being resold.
- ProvenanceAuthenticity & provenanceProvenance is the documented history of a watch's ownership and origin, from its original sale through each owner to the present.
- Purchase reportBusiness & complianceA purchase report is a record of a secondhand purchase that some jurisdictions require a dealer to submit to local police, usually describing the item and identifying the seller.
Q
- Quartz movementMovements & precisionA quartz movement is powered by a battery and regulated by a quartz crystal that vibrates at a steady frequency when electricity passes through it, making it far more accurate than most mechanical movements.
- Quickset dateMovements & precisionQuickset date is a feature that lets the date be changed directly by turning the crown in an intermediate position, instead of turning the hands around through each day.
R
- RadiumCondition & originalityRadium is a radioactive element used in luminous paint on early watch dials and hands, before tritium and later non-radioactive materials replaced it.
- RedialCondition & originalityA redial is a watch dial that has been refinished or repainted after it left the factory, often to hide damage or ageing, and sometimes to imitate a rarer original version.
- Reference numberAuthenticity & provenanceA reference number identifies a watch model, including its specific configuration of case, dial, bezel, and material, as opposed to a serial number, which identifies one individual watch.
- Regulated propertyBusiness & complianceRegulated property is the term Dallas uses in its City Code for the kinds of goods covered by its dealer rules, which include new or used jewelry and crafted precious metals.
- RehautCase, dial & braceletThe rehaut is the inner ring between the dial and the crystal, around the edge of the dial, sometimes printed or engraved with markings.
- Reserve priceBuying & sellingA reserve price is the minimum a seller has agreed to accept at auction. If bidding doesn't reach it, the watch goes unsold.
- Retail priceBuying & sellingRetail price is the price a brand sets for a new watch sold through its authorised dealers, also called list price or MSRP.
- Rotating bezelCase, dial & braceletA rotating bezel is a bezel that turns, typically used to time an interval by aligning its zero marker with the minute hand. On dive watches it usually turns one way only, so an accidental knock can only shorten the timed period, never lengthen it.
- RotorMovements & precisionThe rotor is the weighted, pivoting semicircle in an automatic movement that swings as the wearer moves and winds the mainspring.
S
- Sales tax permitBusiness & complianceA sales tax permit is the state registration that lets a business collect and remit sales tax on its taxable sales. States use different names: Texas issues a Sales and Use Tax Permit, and Arizona requires a Transaction Privilege Tax license.
- Sapphire crystalCase, dial & braceletSapphire crystal is a synthetic sapphire cover used over the dial on most modern luxury watches, prized for its scratch resistance and clarity.
- Screw-down crownCase, dial & braceletA screw-down crown threads onto a tube in the case to seal it, a key part of what keeps many sports and dive watches water resistant.
- Secondary marketBuying & sellingThe secondary market is the trade in watches after their first retail sale: dealers, marketplaces, auctions, and private sales between collectors.
- Secondhand dealer licenseBusiness & complianceA secondhand dealer license is a local permit some cities and states require before a business can buy and resell used goods, often including watches and jewelry.
- Serial numberAuthenticity & provenanceA serial number is the unique number a maker assigns to an individual watch, engraved on the case or movement, that distinguishes it from every other example of the same model.
- Service cardAuthenticity & provenanceA service card is the document issued by a manufacturer or authorised service centre after a watch has been serviced, often recording the serial number, the date, and a warranty on the work.
- Service dialCondition & originalityA service dial is a genuine replacement dial fitted by the manufacturer or an authorised service centre, often during a service, in place of the watch's original dial.
- Service historyCondition & originalityService history is the record of when and where a watch has been serviced, what was done, and which parts were replaced, usually shown through receipts or service cards.
- Service partsCondition & originalityService parts are genuine components, such as hands, bezels, crowns, crystals, or dials, fitted by the manufacturer or a service centre to replace the originals during repair or servicing.
- Shock protectionMovements & precisionShock protection is a system of spring-mounted jewel settings that let the delicate balance staff move under impact and then return to position, preventing broken pivots.
- Sold priceBuying & sellingThe sold price is the amount a watch actually changed hands for. At auction it's often called the hammer price or, including fees, the realized price.
- Stolen watch databaseAuthenticity & provenanceA stolen watch database records the serial numbers of watches reported lost or stolen so that dealers, pawnbrokers, and others can check a watch before buying it.
- StrapCase, dial & braceletA strap is a band made of leather, rubber, fabric, or similar material, fastened with a buckle or folding clasp, as opposed to a metal bracelet.
- Super cloneAuthenticity & provenanceSuper clone is a slang term for a high-quality counterfeit watch that closely copies the genuine article's appearance and sometimes the look of its movement.
- Superlative ChronometerMovements & precisionSuperlative Chronometer is Rolex's own precision designation. Each movement is first certified as a chronometer, and the finished, cased watch is then tested again by Rolex.
T
- TimegrapherMovements & precisionA timegrapher is a device that listens to a mechanical movement and reports its rate, amplitude, and beat error, giving a quick picture of how well it's running.
- TourbillonMovements & precisionA tourbillon is a mechanism that mounts the balance and escapement in a rotating cage, originally intended to average out timing errors caused by gravity when a watch is held in different positions.
- Trade-inBuying & sellingA trade-in is a watch a customer hands over as part payment toward another watch, with its agreed value credited against the price.
- TritiumCondition & originalityTritium is a radioactive form of hydrogen once used in luminous paint on watch dials and hands, before the industry moved to non-radioactive luminescent materials.
- Tropical dialCondition & originalityA tropical dial is a dial, usually originally black, that has faded over the years to brown or a similar warm tone, typically because of how the paint or lacquer reacted to sunlight and age.
U
- UnpolishedCondition & originalityUnpolished describes a watch whose case and bracelet have never been refinished, so they still carry the original factory edges and finishes, along with whatever scratches and wear the watch has picked up.
- UnwornCondition & originalityUnworn describes a watch that has never been worn since it was bought, usually still with protective stickers and in its original packaging, even though it has already been sold at retail once.
W
- WaitlistBuying & sellingA waitlist is the queue an authorised dealer keeps for buyers wanting hard-to-get models, and allocation is the process by which the dealer decides who gets a watch when it arrives.
- Warranty cardCondition & originalityThe warranty card, often just called the papers, is the document issued when a watch is first sold, typically recording the model, the serial number, and the date and place of sale.
- Watch movementMovements & precisionThe movement is the engine of a watch: the mechanism inside the case that keeps time and drives the hands and any additional functions.
- Watch onlyCondition & originalityWatch only describes a watch sold without its box, papers, or other accessories, just the watch itself on its bracelet or strap.
- Watch serviceCondition & originalityA watch service, sometimes called an overhaul, is the routine maintenance of a mechanical watch: the movement is disassembled, cleaned, inspected, lubricated, reassembled, and regulated, with worn parts replaced and seals checked.
- Water resistanceCase, dial & braceletWater resistance is a watch's ability to keep water out, stated by the maker as a depth or pressure rating that reflects testing conditions, not a guarantee for every activity.