Whether purchasing a luxury timepiece to pass down in the family, or simply looking to commemorate a special occasion, we take a look at what attributes you should consider when investing your money in a wristwatch.
It would be a common notion to believe that people who purchased these expensive watches were simply “giving in” to some lifelong deep-seated desire. I realise now, that although this may be the case, it is only one of the many factors that collectors will seriously consider before making a purchase.
A good rule of thumb is to ensure that you actually like and value the timepiece you are purchasing. If the satisfaction you receive from your purchase is greater than the cost, you are already reaping the rewards of your investment.
There are a multitude of reasons for purchasing a Luxury watch from a brand such as Rolex, Patek Philippe, Omega or Breitling as they all represent their own grandeur, dependability, quality, and international status symbol.
So, what other factors should you contemplate when it comes to the future value of your investment?
First up, is the rarity of the watch. The value of a commodity, like stock prices, is determined by supply and demand. The fewer examples of a specific model in circulation, the greater the demand. Whenever demand outweighs supply, the value will go up.
When it comes to resale value, the watch brand counts. Some watch brands, such as Rolex, are well-known with a high resale value and widespread popularity. Patek Philippe, Jaeger-LeCoultre, Omega, IWC, Breitling, Vacheron Constantin and Audemars Piguet are also excellent examples to have seen the value of their timepieces climb steadily over the years.
The specialist knowledge of collectors out there may seem overwhelming, but if it is something that interests you - it can be quite a fascinating hobby.
It doesn’t matter how rare the model is if it is in a state of complete disrepair. Missing components can be hardship many collectors aren’t willing to tackle. Whilst some factors, like a bit of patina, are desirable attributes, too much patina can also prove troublesome. Condition of the case, dial, numerals, hands, strap and of course mechanism, all warrant a serious inspection. Ensuring all these parts are authentic and establishing which parts are not original, if any.
Some allowance can be made for refurbishment; the replacement of something as simple as a dial, or an original crown on a model that would have typically been upgraded during a service, can seriously impact the current and future value of the watch. Keeping all the original paperwork, guarantees and boxes can impact the future value of your timepiece. It also goes without saying that using a trusted and authorised dealer for all your services and repairs is highly recommended.
Please do get in touch, should you have any queries or maybe you have a timepiece you would like to have valued.
We would love to hear from you.