What’s the Difference Between Vintage and Pre-Owned Watches?

Originally published by Jon Bues on Hodinkee.

New, vintage, pre-owned. Watch sellers often throw these terms around, assuming everybody knows what they mean. And yet, how many newcomers, poring over their options as they consider a purchase, have paused and wondered why a watch from one year is labeled as pre-owned and a watch from another as vintage — and what difference it should make to the price?