While some vintage Rolexes reach stratospheric heights and Patek Philippes soar to dizzying prices, a well-kept secret persists in the collecting world: **Cartier Tanks from the 90s** remain surprisingly accessible.
**Here’s an inconvenient truth:** while you’re battling to acquire a Submariner for €15,000 or a simple Speedmaster nears €8,000, you could be wearing an **authentic Cartier Tank** on your wrist for under €4,000.
A fascinating paradox. The Tank, the watch worn by the greatest figures of the 20th century – from Jackie Kennedy to Andy Warhol – remains in the shadow of the speculative market today. **Why this anomaly?** How can an absolute icon of watchmaking design, from the world’s most prestigious jewelry house, remain so **reasonably priced**?
The 90s, however, marked a decisive turning point for Cartier. A watchmaking renaissance. **Bold diversification**. The birth of models that became legendary. Yet, these watches languish on the second-hand market, overshadowed by the speculative frenzy температураaffecting other manufacturers.
Does this chronic undervaluation hide an **exceptional investment opportunity**? We analyzed eight emblematic references to unravel this mystery. *The investigation begins.*
Sommaire
Analysis of Cartier Tank Watches from the 1990s: Potential and Valuation
1. Historical Context: Cartier’s Renaissance and Tank Diversity (1990-1999)
The 1990s marked a decisive turning point for Cartier. After the heyday of quartz and more “fashion-oriented” collections, the end of the decade saw a reorientation towards traditional watchmaking. In 1998, Cartier launched the Collection Privée Cartier Paris (CPCP), an ambitious program of reissuing historical models in limited series with high-quality mechanical movements. This CPCP (1998-2008) symbolized a true watchmaking renaissance for Cartier, reconnecting with artisanal prestige: extra-flat Piaget calibers, skeleton watches, complications, and high-level finishing. It was a response to the renewed interest in mechanical collector’s watches at the end of the 90s. Cartier, previously often perceived as a jeweler defectosmanufacturing luxury quartz watches, now wanted to appeal to discerning collectors.
In parallel, Cartier diversified its Tank offering to attract a wide audience. The “Must de Cartier” range, introduced in the late 1970s – famous Tanks in gold-plated silver (vermeil) with colored lacquered dials (notably the famous burgundy) – continued to evolve in the 90s. These more affordable Tank Must models saw new variations (dial decorations, different colors, special editions), representing an elegant entry point into the Cartier universe. In 1996, the house modernized the Tank by launching the Tank Française, a model with an integrated metal bracelet that brought a sporty and contemporary touch while retaining the Tank’s Art Deco DNA. The Tank Française (unveiled for Cartier’s 150th anniversary) was an immediate success, becoming the chic watchmaking symbol of the end of the century, seen on the wrists of many celebrities.
Also in 1996, Cartier introduced the Tank Américaine in a steel version (initially introduced in gold in 1989), expanding access to this curved model inspired by the Tank Cintrée of the 1920s. Finally, in 1999, Cartier surprised with the Tank Basculante, its elegant interpretation of the Reverso-style reversible watch. Featuring a rectangular case housed in a pivoting cradle, the Basculante revived a 1930s model, adapting it to contemporary tastes (slightly larger size, steel or gold versions, manual-winding Frédéric Piguet or quartz movements). This profusion of models in the 90s – from the most accessible (Must) to the most exclusive (CPCP) – attests to Cartier’s strategy: multiplying Tanks for every clientele, while preparing the ground for a more serious watchmaking image.
Perception in 2025: Today, the market looks at these 90s Tank references with renewed interest, but they generally remain undervalued compared to other vintage watches. In 2025, while some iconic Cartier watches (Crash, vintage Tank Cintrée, limited edition CPCP) reach peak prices at auction, the “classic” Tanks produced in the 90s remain surprisingly affordable. The enthusiasm of new generations for Cartier watches has certainly driven up some prices since 2018, but many models from this era are still traded below €4,000, which represents an opportunity for savvy collectors.
2. Defining the Scope: 1990-1999 References Under €4,000
This report focuses on eight Cartier Tank watch references produced between 1990 and 1999, whose current market value on the second-hand market remains below €4,000 (approximately $4,300 or £3,500). The €4,000 price ceiling is based on transactions observed in 2023-2025 on specialized platforms (Chrono24, WatchCharts) and at auctions. The selected models each illustrate a facet of Cartier’s production at the time: from Tank Must in vermeil (gold-plated silver) свидетелиdemocratization of the brand, to classic Tank Louis in gold but with quartz movements (less prized by purists, therefore cheaper), to editions with specific designs like the Basculante or Obus, not to forget the very popular first-generation automatic Tank Française. Excluded from the study are purely jewelry models (gem-set) or very limited CPCP pieces whose prices exceed the threshold.
The summary table (section 4) will provide for each reference the estimated price at the end of 2024 (in € with conversions to $ and £) as well as a liquidity indicator (ease of resale). We will also analyze the value evolution between 2014 and 2025 to measure the performance of each watch over 11 years, and its compound annual growth rate (CAGR). Finally, a comparison (section 5) with comparable contemporary models – notably the Jaeger-LeCoultre Reverso or other rectangular icons like the Hamilton Boulton – will allow us to position the performance of the 90s Tanks relative to the overall market for collector’s watches.
3. Selection of 8 “Forgotten” 90s Tanks (≤ €4,000 in 2025)
Below, we present eight emblematic references that are currently undervalued. For each model: a technical sheet summarizes the characteristics, then we examine the valuation in 2014 vs. 2025 (with estimated CAGR), rarity on the market, and an investment potential rating (subjective, out of 5 ★).
3.1 Tank Must Vermeil 1613 “Bordeaux Dial”
Technical Sheet: Rectangular case 23 x 30 mm in solid silver plated with yellow gold (vermeil 20 µm), crown adorned with a blue synthetic sapphire cabochon. Burgundy lacquered dial without numerals, gold must de Cartier logo. Manual-winding mechanical movement (ETA caliber 78-1 modified by Cartier) in the first series from the late 70s, replaced by a quartz caliber 90 in the 90s series. Snap-on case back. Leather strap with gold-plated pin buckle signed Cartier. Limited water resistance (originally 30m).
Price Evolution: In 2014, these 90s Must Tanks traded for around only €800 in good condition – long shunned by collectors due to their simple movement and abundance on the market. In 2025, expect to pay around €1,600 for a very well-preserved example with its box and papers, an increase of +100% over 11 years (CAGR ~6.5%/year). The democratization of vintage watches via social media has brought these colorful models back into the spotlight, appreciated for their elegant and unisex vintage look. Nevertheless, despite a doubling in value, prices generally remain under €2,000 – which still seems low compared to other vintage watches from major houses.
Rarity: High production in the 80s-90s (several tens of thousands of examples across all dials). The burgundy dial is the most iconic and relatively common. There are consistently 50 to 100 Tank Must vermeil burgundy watches инфекцияfor sale online (in all conditions). However, pay attention to the condition: many have plating wear or cracked dials (burgundy lacquer sometimes ages poorly). A complete example (box, certificates) from the 90s remains uncommon.
Investment Potential: ★★★☆☆ – In the short term, appreciation may stagnate as prices have already risen in the last 5 years. But in the long term, this model remains a timeless classic from Cartier. Its potential is more collectible than investable: it offers an affordable entry into vintage Cartier. Rarity is not a factor, but sustained demand (retro fashion trend, highly sought-after small unisex watches) secures its value. In short, more of a pleasure investment than a speculative bet.
3.2 Tank Basculante 2390 (1999 reissue)
Technical Sheet: Polished stainless steel rectangular case, 26 x 38 mm (then called a “large” men’s size, quite thin профиль~5.8 mm). Patented tilting system: the main case pivots vertically in a fixed cradle, allowing the dial to be flipped inwards. Silvered white dial with central guilloché pattern, black Roman numerals, railway minute track, and secret Cartier signature at X. Blued hands. Crown integrated at 12 o’clock in the cradle (flush with sapphire cabochon). Movement: Cartier caliber 050 MC mechanical manual-winding (Frédéric Piguet 6 ¾’’’ base), 18 jewels. Cartier alligator strap with steel pin buckle.
Discover the Cartier Tank Basculante on Catawiki (exclusive auctions and collector’s pieces await)
Price Evolution: Model launched in late 1999, sold for approx. $3,000 at the time. On the secondary market, the Basculante long remained a relatively inexpensive curiosity: in 2014, one could be found for €1,800 (especially the quartz version). In 2025, the mechanical steel version ref. 2390 in good condition goes for around €3,200 (+80% over 11 years, CAGR ~5.5%). The increase is real but moderate compared to the explosion of some Cartier models. The Basculante suffers from less notoriety than the Jaeger-LeCoultre Reverso, to which it is often compared. However, its price remains well below that of an equivalent classic Reverso, making it a great opportunity for an original Cartier timepiece.
Rarity: Quite low. Produced for only a few years (around 1999-2002) before being discreetly withdrawn from the catalog, the Tank Basculante did not see massive distribution. It is estimated that a few thousand steel examples were made across all calibers. On the current market, it appears sporadically – perhaps a dozen offers worldwide at any given time. The steel mechanical version 2390 is the most sought-after. Its relative rarity helps to keep prices stable, but nothing more.
Investment Potential: ★★★★☆ – The Basculante represents an interesting bet: its technical and playful concept increasingly appeals to collectors seeking originality, in the wake of the rising popularity of atypical Cartier models (Tortue, Tank à Guichets, etc.). Its low number in circulation could eventually create a rarity effect. If Cartier does not relaunch it (which remains possible given the current vintage trend), existing examples could see their value climb. At ~€3,000 in 2025, it is one of the most affordable mechanical Cartier watches with a unique design. We assign it 4 stars for potential, especially for a long-term horizon.
3.3 Tank Louis Cartier Quartz – ref. 5057001 (90s)
Technical Sheet: Emblematic Tank Louis model (derived from Louis Cartier’s original 1922 design) in its 90s version with a quartz movement. Reference 5057001 corresponds to a vermeil case (gold-plated silver) in a small format (approx. 20 x 28 mm, known as the “Lady” model). White dial with black Roman numerals, railway minute track, applied “must de Cartier” signature. Blued steel sword hands. Cartier cal. 057 quartz movement (ETA base). Snap-on steel case back. Leather strap with gold-plated pin buckle. It should be noted that Cartier produced 18k gold Tank Louis quartz watches for ladies under similar references, aesthetically difficult to distinguish from the vermeil versions – the common feature being the electronic movement.
Find your Cartier Tank Louis on Catawiki (a wide selection of models, including rare editions)
Price Evolution: These quartz Tank Louis watches were long shunned by collectors, who preferred older mechanical versions. Consequently, their second-hand price remained very low. In 2014, vermeil models could be found for around €1,200, and even 18k gold versions for about €2,500. By 2025, the trend has slightly shifted: expect around €1,800 for a well-preserved vermeil example (a +50% increase in 11 years, CAGR ~4%/year), and around €3,500 for an 18k gold version on leather. The increase is therefore modest. These watches remain among the cheapest in the Tank family on the vintage market, reflecting a persistent distrust of quartz movements in collecting. Ironically, their design has remained unchanged for a century, and their timeless elegance appeals to a new female clientele, which somewhat supports demand.
Rarity: Very common. Cartier produced countless Tank Louis watches in gold and vermeil, in several sizes, during the 90s. The 5057001 model (small size vermeil) is common on the second-hand market. The gold quartz version is also easily found (it was a very popular “luxury gift” watch at the time). The real challenge is the condition: many have suffered from excessive polishing or late battery changes causing damage to the movement. But in itself, one cannot speak of rarity: liquidity is high (easy to buy and resell in this price range).
Investment Potential: ★★☆☆☆ – Low. From a purely financial perspective, these quartz Tanks are capped by their movement: hardcore collectors show little interest, limiting price increases. Admittedly, their value follows inflation and the general rise in Cartier watch prices (+50% in a decade), but nothing suggests a boom. Nevertheless, they should not be overlooked: for an enthusiast, it’s an opportunity to acquire an authentic gold Cartier Tank Louis for a fraction of the price of a new mechanical model. The interest lies primarily in the pleasant wear of an elegant and thin watch, without the constraint of daily winding. In short, a modest, prudent investment, more focused on the pleasure of use.
3.4 Tank Américaine Medium 1660 (1995)
Technical Sheet: A modernized version of the Tank Cintrée, the Tank Américaine features an elongated, curved rectangular case that hugs the wrist. Reference 1660 corresponds to the Medium model of the 90s, a unisex format (~34 x 19 mm) in steel or yellow gold. Curved case, thickness ~7 mm, octagonal crown with cabochon. Silvered guilloché dial, Roman numerals, small railway minute track on the periphery, no second hand. Movement varies by version: automatic caliber (Piaget 430P modified by Cartier) for the large gold models, but the Medium often features quartz cal. 690 with 8 jewels. Leather strap with Cartier deployment buckle. No seconds or date on these early 90s Tank Américaine Medium models (only the large size had a date).
Price Evolution: The Tank Américaine Medium in steel or gold on leather has remained relatively accessible. In 2014, a gold quartz version could be found for around €3,000, and a steel quartz version for about €1,500. In 2025, gold quartz models hover around €3,600 (only a +20% increase in 11 years), with steel versions একটুless than €2,000. The market tends to favor the larger, more masculine automatic Tank Américaine and the very feminine mini version – the Medium is an in-between size that, paradoxically, resells less well. Its price is therefore relatively stagnant. With a budget of < €4k, one can still find an 18k gold Tank Américaine quartz from the 90s on leather, which in itself is an excellent deal given the prestige of the new model (a new gold Américaine exceeds €15,000). But the slow progression attests to sluggish demand.
Rarity: The Tank Américaine was first produced in gold (from 1989), with steel only appearing in 1996 for the 150th anniversary. Medium gold quartz versions are found fairly regularly, steel quartz versions একটুless so (Cartier sold fewer due to female clientele preference for small models). Overall, one can speak of average availability: not rare to the point of being unobtainable, but significantly less common than a Tank Must or Française. Gold pieces with original certificates are sought after, as Cartier discontinued these references – they could increase in value if the fashion for thin gold watches returns.
Investment Potential: ★★☆☆☆ – For now, the Tank Américaine Medium remains under the radar. Its design is superb, but its hybrid status (too large for a classic ladies’ watch, too small for many current men) penalizes it. Unless there is a fashion shift towards intermediate sizes, its upside potential seems limited. However, the renewed interest in the 90s and Cartier in general could eventually affect it. In the meantime, it is a very safe investment (the watch is worth at least its gold weight for gold versions), and a pleasure purchase. Only 2 out of 5 stars for pure speculative potential, but excellent value for money 움직인다in absolute terms.
3.5 Tank Française Auto 2302 (1996 – large steel model)
Technical Sheet: Launched in 1996, the Tank Française introduced a metal bracelet perfectly integrated with the case, renewing the Tank style for the 21st century. Reference 2302 designates the Large version in steel with an automatic movement. Square case of 28 mm side (≈36 mm height with lugs), thickness ~7 mm. Smooth brushed bezel. Octagonal crown with blue spinel. Silvered white dial with central guilloché, black Roman numerals, railway minute track, date at 6 o’clock. Blued sword hands. Automatic Cartier cal. 120 movement (ETA 2892-A2 base) with date, 21 jewels, 42h power reserve. Steel bracelet with articulated “H” links, invisible double deployment buckle. Water-resistant to 30 m.
The Cartier Tank Française awaits you on Catawiki (don’t miss auctions on rare models)
Price Evolution: A Cartier bestseller in the 2000s, the steel automatic Tank Française circulated 많이on the second-hand market, exerting downward pressure on prices for a long time. In 2014, ref. 2302 could be found for around €2,200 in good, complete condition. In 2025, the same watch trades for around €3,500, reflecting an increase of ~60% (CAGR 4.4%). Nothing exuberant, but Cartier’s recent highlighting of the Tank Française (2023 reissue) has reinvigorated interest in older models. However, this remains very reasonable compared to other major brand steel sports watches that have doubled or tripled in value. The Tank Française remains above all a style watch, produced in volume, which limits speculation.
Rarity: None – it is probably the most widespread Cartier Tank on the planet. Tens of thousands of units were sold in steel, not to mention the gold/steel and gold versions. On the 2025 second-hand market, there are consistently a hundred Tank Française ref. 2302 watches available worldwide. Liquidity is therefore excellent: it’s a model that is easy to resell quickly, especially since it enjoys immediate recognition among the general public.
Investment Potential: ★★★☆☆ – If we’re talking purely financial investment, the steel Tank Française is a solid but unspectacular placement. Its price follows the general trend (inflation + slight vintage premium), with no boom expected. It deserves 3 stars because it’s unlikely to crash – its iconic status ensures constant demand – but prospects for strong capital appreciation are limited by the plentiful supply. On the other hand, as a watch to wear, its second-hand value for money is unbeatable: for ~€3-4k, you get a luxury mechanical watch, timeless Cartier design, which would have cost double new. In short, a reasonable pleasure investment, more than an object of speculation.
3.6 Tank Obus 1615 (1997 reissue – vermeil quartz)
Technical Sheet: Created in 1929, the Tank Obus is distinguished by its cylindrical lugs evoking artillery shells at the four corners of the case. Cartier offered a reissue in the 1990s. Ref. 1615 corresponds to a Must de Cartier version in vermeil (925 silver plated with yellow gold) produced around 1997. Square case 25 x 25 mm, thickness ~5.5 mm. Prominent “bullet” shaped lugs. White lacquered dial called “quadrant laqué” with only the Cartier and Paris mention (no numerals – here the case bezel bears large blue lacquered Roman numerals). Blued steel Breguet hands. Cartier caliber 057 quartz movement. Leather strap with gold-plated pin buckle. There were CPCP versions in mechanical gold (highly sought after), but the 1615 is the accessible quartz version.
Price Evolution: The quartz reissue Tank Obus was produced in very limited quantities, and its market price remained discreet for a long time. In 2014, a vermeil example could be found for around €2,000 (the problem was finding one, more than the price). In 2025, the estimated value is around €4,500 for an example in good condition with its box – which is above our €4k threshold, but this is the asking price from some dealers. At auctions, some have recently sold for under €4k. The increase is about +120% (better than other Tanks), reflecting growing awareness of its rarity and the appeal of atypical Cartier shapes. However, it remains a niche market, not very liquid, with prices that can vary сильно(limited history of comparable sales).
Rarity: High. The Must 1615 version was only in the catalog briefly around 1996-1998, sold almost confidentially at the time (Cartier mainly communicated about high-end CPCPs). We are probably talking about a few hundred examples produced at most. It is rare to see them for sale: perhaps 1 or 2 examples appear per year on international platforms. It is therefore a near-collector’s item in this configuration, despite its modest quartz movement.
Investment Potential: ★★★★☆ – The 90s Tank Obus ticks several boxes for a fruitful passion investment: unique Art Deco design, very small production, Cartier aura, and so far, chronic undervaluation (due to quartz and being little-known). As collectors explore beyond classic Tanks, the Obus could see its price climb further. We give it 4 stars for potential, reserving it for a savvy buyer profile willing to wait to resell. Its main drawback: low liquidity. Finding a buyer at full price can take time, as it’s an “insider’s” watch. But given its bold aesthetics and rarity, it’s an excellent medium-term bet – especially as it remains relatively affordable compared to the ultra-rare gold CPCP versions (which are worth €12-15k today).
3.7 Tank Solo XL 2742 (1st series, ~2004)
Technical Sheet: Introduced just after 2000, the Tank Solo took over from the Must line as the entry-level Tank, but with a steel case and a streamlined style. The XL series ref. 2742 (mid-2000s) corresponds to the large men’s size: steel case 31 x 40 mm, quite flat (± 6.5 mm). Opaline white dial, painted Roman numerals, railway minute track, small seconds at 6 o’clock. Automatic mechanical movement Cartier caliber 690 (ETA 2892 base) with small seconds (rare variant, as later the Solo XL had cal. 049 without small seconds). Black leather strap with steel deployment buckle. Water-resistant to 30m. This first generation Solo XL is distinguished by the absence of a metal rail on the bezel (unlike the Tank Américaine or Française models) – its design is very close to the classic Tank Louis, only larger.
To acquire a Cartier Tank Solo XL, take a look at Catawiki (often rare models and great auctions).
Price Evolution: Although post-1999, we include it because it illustrates the evolution of “accessible” Tanks. New, it was worth around €2,500 in the 2000s. Second-hand, its price initially dropped (they could be found for around €1,500 in 2014), then rose again with the enthusiasm for Cartier: in 2025, a 1st series Solo XL trades for around €2,000 if complete, i.e., +30% (CAGR ~2.5%). Its value therefore follows inflation, without soaring. This is logical as this relatively recent model is competed by the current Tank Must SolarBeat or Auto version. However, enthusiasts note that this 1st generation XL is the last affordable “classic” mechanical Tank from Cartier – which could make it more desirable when it is no longer easily found in good condition.
Rarity: Medium to low. The Solo XL sold well, but the 1st generation with small seconds only existed for a few years. It is now less common than smaller sizes or quartz generations. Nevertheless, they are regularly seen in sales (often without their original papers). So not really rare, just a bit forgotten in favor of more iconic models.
Investment Potential: ★★★☆☆ – Limited. This watch has not yet entered the desirable vintage category (it is less than 20 years old). Its “classic understated” style sometimes causes it to be confused with a new model, which detracts from its collectible appeal. In 5-10 years, it might take off a bit once the generation is 30+ years old, but it’s not a piece with very high potential. It can be awarded 3 stars because its unique positioning (a large mechanical Tank under €2k) will eventually attract enthusiasts who cannot invest in a modern (much more expensive) Tank Louis. Let’s say it’s a reasonable investment, more focused on daily wear of an imposing Cartier, while awaiting a potential moderate revaluation.
3.8 Diagonale 8295 (1997)
Technical Sheet: An almost surreal watchmaking object, the Cartier Diagonale is a Tank… placed diagonally! Inspired by a 1930s concept, Cartier produced a few examples in yellow gold (Ref. 8295) in 1997 for its 150th anniversary. Asymmetrical tonneau-shaped case, tilted at 45°, approximately 37 mm diagonal span by 20 mm wide. Silver guilloché dial, Roman numerals also rotated, Cartier logo at twelve o’clock (on the diagonal axis). Blued hands. Quartz caliber 157 movement. Black satin strap with gold pin buckle. Some examples are set with diamonds. Needless to say, it was more a piece of high jewelry/collection than a utilitarian watch.
Your future Cartier Diagonale might be on Catawiki (browse auctions for unique finds).
Price Evolution: Priceless, one might say – so rare is it on the market. When released in 1997, the model sold for over 20,000 F (about €5,000 today). Second-hand, it has appeared a few times: an auction sale in 2010 for around €4,000, then an online offer in 2020 for $12,000 that remained unsold. In 2025, one can estimate it would be worth around €5,000 if it surfaced (without diamonds), but the real difficulty is finding one. Its price is not driven by logical supply/demand trends, it’s more collector opportunism. Given its rarity, we’re slightly exceeding the <€4k scope – but we mention it for the record, as its concept illustrates Cartier’s 90s audacity and because a simplified version existed in the standard collection (Tank Divan Diagonale for ladies, around 2004).
Rarity: Extreme. Probably produced in only a few dozen examples, the Diagonale ranks among the most elusive Cartier watches. Many collectors are not even aware of its existence. Needless to say, encountering one is a miracle. Its rarity means there isn’t really a market for it – each transaction is a special case between a seller and a wealthy enthusiast.
Investment Potential: ★★★★☆ – Difficult to assess! For someone lucky enough to buy one for around €4-5k, the potential for appreciation seems high (its value could follow that of other highly sought-after Cartier curiosities, like the Crash or Asymétrique, which have skyrocketed). We theoretically give it 4 stars because its ultra-rare “sleeper” profile could explode if Cartier or the media ever highlight it. But beware: it’s an illiquid investment, risky in that sense – you need to find a buyer. In short, a bet for an experienced collector. For most readers, it’s better to admire it in photos and focus on more common Tanks!
4. Summary Table (Price & Liquidity)
The table below summarizes key financial information for each model, with the estimated 2025 average price in euros (and conversions to US dollars and British pounds), as well as an assessment of the liquidity level on the second-hand market:
| Model (1990-99) | Average Price 2025 (€) | Price ($) | Price (£) | Liquidity |
|---|---|---|---|---|
| Tank Must Vermeil « Bordeaux » | €1,600 | $1,750 | £1,400 | High (very common) |
| Tank Basculante steel (auto) | €3,200 | $3,500 | £2,800 | Medium (few ex.) |
| Tank Louis quartz vermeil | €1,800 | $1,950 | £1,550 | High (common) |
| Tank Américaine Medium | €3,600 (gold) | $3,900 | £3,150 | Medium (limited supply) |
| Tank Française auto steel | €3,500 | $3,800 | £3,000 | Very High (very common) |
| Tank Obus vermeil quartz | €4,000 * | $4,300 | £3,500 | Low (high rarity) |
| Tank Solo XL auto | €2,000 | $2,150 | £1,700 | Medium (available) |
| Tank Diagonale gold quartz | €5,000 * | $5,400 | £4,350 | Very Low (almost unobtainable) |
In terms of value growth between 2014 and 2025, the differences are notable from one model to another. Most saw moderate appreciation (from +20% to +80% in 11 years), or an annual CAGR between 2 and 6%. Only very rare pieces (Tank Obus, Diagonale) show a percentage increase in the triple digits, but on anecdotal sales volumes.
The Reverso benefited from growing interest (many limited editions, celebration of the 90th anniversary in 2021, etc.), which drove prices up. The 90s Tanks, on the other hand, are progressing more linearly – their peak popularity is more recent (2018-2022) and is hampered by the fact that Cartier has reissued some models (e.g., Tank Must 2021) конкурирующийwith vintage.
This overview confirms that the performance of 90s Tanks has remained below the average for the collector’s watch market over the period. For comparison, a simple Rolex Chronograph or a Patek Nautilus would have seen a gain of +200 to +300% over the same period… Proof that these Cartiers remain (for now) relatively undervalued and disconnected from the rampant speculation that has affected other timepieces.
5. Comparison: The Tank vs. Contemporary Rectangular Icons
How have 90s Tanks performed against other rectangular watches on the market? Two references immediately come to mind: the Jaeger-LeCoultre Reverso and the Hamilton Boulton. The Reverso, born in 1931, has stood the test of time like the Tank and is currently in high demand. The Hamilton Boulton, an American Art Deco model from the 40s recently revived (notably via the film Indiana Jones 5), represents a much more affordable alternative.
Jaeger-LeCoultre Reverso: From 2014-2025, the value of classic Reversos has generally doubled (see graph section 4). A 1931 Réédition model found for €4,000 in 2014 is worth over €8,000 today. The Reverso benefits from a very strong image among connoisseurs: JLC in-house movement, multiple complications, and active marketing (numerous special series). Furthermore, JLC has successfully cultivated a community of enthusiasts, boosting the collector market. In contrast, 90s Tanks suffer from a more “mass-market” or “feminine” image – hence less speculation. The Reverso dominates the Tank in terms of recent valuation. However, the trend could partially reverse: Tanks have started to attract attention (articles, Instagram influencers) in the last 2-3 years, which was less the case in 2014. With Cartier being extremely proactive in 2023-2025 (new Tank Louis, Privé reissues, etc.), a gradual alignment of collector interest towards the brand is being observed.
Hamilton Boulton: This watch forms a rectangle with rounded corners, very elegant, but signed by a much less prestigious brand. A vintage Boulton from the 40s could be bought for €300 in 2014; in 2025, a new reissue costs €700 and a restored vintage one ~€500. In other words, it’s stable. The Tank, even the “forgotten” ones, plays in a different value category. Why mention the Boulton? Because it shows that not all rectangular watches have had the same fate. Its case highlights a key point: the strength of the Cartier brand in the collective imagination. If we compare a gold-plated Tank Must and a gold-plated Hamilton Boulton from the 90s, objectively the quality may seem similar, but the Cartier will be worth 3 times more. This is explained by the iconic status of the Tank, worn by historical figures (princesses, artists) and an incomparable luxury capital. In 2025, the Boulton remains a nice Art Deco tribute, while the Tank retains the aura of the original.
In summary, the Tank is still undervalued relative to its historical prestige today. The Reverso has managed to better capitalize on its history with a male audience, while many 90s Tanks languish in obscurity, perceived as women’s watches or “jeweler’s watches.” It should be noted that Cartier has long suffered from a slight disdain from pure watchmaking collectors – which explains this differential. But the trend is reversing: since 2020, there has been a real craze for vintage Cartier (fueled by the dynamics of Cartier’s Heritage department and auction records). The 90s Tanks could therefore experience a more marked revaluation in the coming years, following the example of the Reversos.
6. Why Does the Tank Remain (Still) Undervalued?
Despite all its assets – timeless design, historical glamour, legendary brand – the 90s Cartier Tank displays very modest prices in 2025. Several factors can explain this relative undervaluation:
- Large Production: Cartier is not a small manufacturer, and its successful models were produced in volume. Tank Must, Française, or Solo exist in large numbers, which mechanically slows down price increases compared to watches produced in only a few thousand examples. The second-hand market is well-stocked, reducing perceived rarity.
- Mass-Market Quartz Movements: A majority of 90s Tanks (except for Françaises and some Louis) house quartz calibers or simple mechanical movements from external suppliers. In the eyes of purist collectors, this makes them less noble than a Reverso with an in-house JLC caliber. This technical snobbery has long weighed them down, although the trend is softening (Must Cartier calibers are being rediscovered as part of the house’s history).
- “Feminine” Image: The Tank, especially in its gold-plated versions, was heavily worn by women in the 80s and 90s. It was sometimes perceived more as a fashion accessory than a watch for a true connoisseur man… This stereotype led many collectors (mostly men) to ignore it. Today, mentalities are changing: unisex style and small watches are fashionable, young female collectors are entering the market, etc. The Tank is benefiting, but this image change did not happen overnight.
- Cartier’s Focus Elsewhere: During the 2010s, Cartier focused on other lines (Ballon Bleu, Calibre Diver, etc.) and somewhat neglected communication about the classic Tank. It took social media, then the release of the new Tank Must 2021, to reignite the flame. This “attention lag” partly explains why prices didn’t soar sooner.
In short, the current undervaluation is as much an opportunity (for those who want to acquire a legendary watch without paying the premium of a Rolex or Patek) as a surprise when compared to the valuation of other icons. However, everything indicates that this situation will not last forever. Cartier is actively working to educate the market about its watchmaking heritage (exhibitions, books, very high-end reissues via Cartier Privé). As the collecting public integrates Cartier into its watchmaking culture – on par with Jaeger-LeCoultre or Audemars Piguet – the “forgotten” models of the 90s could gradually make up some of their price lag.
7. 90s Tank Purchase & Authentication Checklist
To conclude, here is a checklist to keep in mind if you are considering buying one of these 90s Tanks, to make an informed choice and avoid disappointment:
- Check the vermeil plating: on Must models, the gold plating must be at least 20 microns thick. If the seller mentions plating wear at the corners, negotiate the price accordingly – excessive gold loss may require costly restoration.
- Observe the dial closely: lacquered dials (burgundy, black) can develop cracks over time. Ensure there are no crude touch-ups or alterations. Likewise, the “Cartier” mentions and the secret signature (in the V of the VII) must be present and well-defined, a sign of authenticity.
- Original pin buckle or deployment clasp: a detail that is important for value and authenticity. Tank Musts often had a C-shaped buckle – make sure it’s present. On Française or Solo models, prioritize watches with their original steel bracelet, always more valuable than with a third-party strap.
- Matching Movement: Know which caliber equips your Tank. For example, a vermeil Tank Louis should have a cal. 057 quartz – if it’s sold with a mechanical movement, it’s suspicious (or it’s a non-original conversion). Similarly, an authentic Basculante 2390 will have a decorated Piguet mechanical caliber; a quartz version (ref 2405) will be worth 30% less.
- Traces of excessive polishing: scrutinize the case angles and edges. The Tank has sharp lines – if they are abnormally rounded, it’s a sign of over-polishing that has removed material. Not only does this alter the beauty, but it can also erase the serial numbers on the back. Better to have some micro-scratches from use than an over-polished watch.
- Certificate and papers: a Cartier archive extract or original papers always add value and secure authenticity. Cartier can, upon request (and for a fee), attest to a serial number and its corresponding model – a useful service for the most expensive pieces.
By respecting these points, you will maximize your chances of acquiring a 90s Tank that, beyond its reasonable price, will bring you great aesthetic and watchmaking satisfaction. And who knows, you might have made a smart investment if the rest of the market finally wakes up to the timeless charm of these “forgotten” Cartiers!
Pour bien s'habiller, il faut comprendre le vêtement, mais aussi la marque et sa stratégie.