The right kind of watch kept in a good condition can end up with a high price tag over time. This is not to say that you should only invest to sell though – owning a unique or vintage watch can be priceless.
If you do want to go the route of investing in a timepiece, it is important to familiarise yourself with brands, models and how the watch valuation process works. Brand is certainly not everything though. Rarity, craftmanship and demand also play a role – discontinued watches are in particular demand.
Most people are familiar with brands such as Rolex and Patek Philippe but demand for brands such as Omega, Tudor, Heuer and Panerai are on the rise.
Since modern watches are manufactured in larger quantities, the return on investment is not as sizeable – not now anyway.
Watches that tend to increase in value over the years are as close to their original condition as possible. Variations of an original model are not as valuable.
Let us get into a few top tips that will help you better understand how to invest in a timepiece or two.
Investing in Watches – 7 Pro Tips
1.Look at Brand Reputation
Watch brands that have impressive reputations are far more likely to sell for higher prices later on. Start by looking at the reputation of the watch brands you are considering before you take the next step.
2. Spend Time on Research
Next, spend time looking at watches that have increased in value over the years and consider why. By connecting the dots and looking at why a watch’s value has increased, you can identify similar characteristics in potential timepieces. Some watches just keep their value better than others, Rolex being one of these brands.
3. Mechanical is Better
Mechanical watches tend to have a longer lifespan. Even if a watch has obsolete parts, a professional watch repairer may be able to create identical parts or source similar parts that will keep the timepiece working as it should. Keep in mind that using generic instead of original parts can affect the value of a watch.
4. Limited Edition is Ideal
Limited edition watches almost always increase in value over time. Statement pieces are automatically more sought after and are easier to sell when you are ready to do so. However, you will need to keep the watch in excellent condition if you want it to fetch an impressive price.
5. Service Your Timepiece
The better the condition of the watch, the more valuable it is. If you are going to repair or service a watch, take it to someone who is reputable, qualified and has experience with your brands. If you are going to invest in a timepiece, do a little research to find a reputable repair centre.
6. Insure Your Timepiece
If you are going to spend a decent amount of money on a timepiece or two, make sure that it’s covered by your home insurer. Cover the watch against both theft and damage. Martins of Glasgow are be able to offer advice with regards to insurance.
7. Practice Patience
If you are going to invest in a watch with the idea that the value will increase in a year or two after your purchase, you may want to reconsider. Most watches will only see a significant increase in value after 5 to 10 years. Investing in watches takes patience.
Investing in timepieces can be exciting and worthwhile. Just make sure that you are only purchasing your watches from reputable dealers. Take your time when making this kind of investment if you want to make it worth your time and money.