Watch only
Watch only means the watch is sold on its own, without its original box or warranty papers. It is common for older watches, where papers are often lost.
A watch-only example usually sells for less than a full set, because the buyer has less proof of provenance and will face the same discount when reselling. The papers matter more than the box.
Live data: across all watches we track, our model currently measures a watch without its box at -1.8% and without its papers at -10.7% versus a full set, adjusted for everything else (model fmv-v1, fitted 12 Nov 2026).