Are you thinking about getting into the luxury watch game? It could be a smart move. High-end watches aren’t just accessories for elevating your outfits; they’re valuable assets that can hold and even increase in value over time. Revenue has grown worldwide and demand is predicted to keep rising.
Choosing the right timepiece can be far from simple, though, particularly if you do want it to retain value on top of looking good. Some will depreciate the minute that they’re out the box while others can soar in popularity and resell for millions.
A watch’s value can be subjective, of course − though you’ll still need to get official valuations done occasionally to update a specialist watch insurance policy, if you have one. But there are certain factors that often help to make a luxury watch a good investment.
Just like luxury clothing, cars and many other consumer goods, there are certain watch brands that create more demand than others. Revered names to add to your list include:
● Patek Phillippe
● Jaeger-Le Coultre
The brand recognition built by these five is usually enough to ensure solid value retention. Patek Phillippe, for example, holds claim to the most expensive watch ever sold, with its Grandmaster Chime going for $31 million in 2019.
Design isn’t actually a primary influence on value unless a watch is especially unique. From dial colour to strap material, though, appealing design is crucial to your enjoyment of a watch − a consideration of which you should never lose sight.
Key styles to consider include:
● Dress watches, which are more formal.
● Diver’s watches, which have excellent legibility and water resistance.
● Racing watches, which track travel time or measured distance and can be more flamboyant in appearance.
You’ll notice from these category descriptions that luxury watches still offer functional benefits, as well as good looks. Consider which features best suit your lifestyle.
Rarity is another key driver of watch value. If a timepiece is in short supply due to limited production, for example, then enthusiasts will clamour to get their hands on it and join an exclusive club.
Older watches can also rise in demand if they’re found to be one of just a few of their kind left.
Other deciding factors in both a watch’s value and its potential appeal to you include:
● Its condition (more so if buying second-hand, along with relevant paperwork)
● The materials from which it’s made
● Any celebrity association, such as film-star endorsements
Ultimately, predicting a watch’s future value is much like following the stock market; nothing is for certain. But keeping in mind these factors will improve your chances of finding one that brings you joy as a wearer and returns as an investor.