Choosing the right luxury watch to buy can be a daunting process yet it’s one that a lot of people aspire to. A lot of people usually don’t know where to start. Why not find a timepiece that appreciates in value? Years down the line, the watch should be able to retain its value if not get more valuable.
Are luxury watches actually worth the investment? Absolutely yes! Not only do they do the watch remarkably but are also great investments. If you can scrape the money needed together, buying a luxury watch would be a solid investment especially if you know how to navigate the market.
Luxury watches that have skyrocketed in value
Luxury watches cost thousands or even millions of dollars and buyers are spoilt for choice as there are loads of brands and models to choose from. The main factor that determines whether or not a watch will appreciate in value is the supply. If the demand for a watch is there, no doubt the watch will skyrocket in value.
Let’s take at 7 luxury watches that according to research by online casino Betway have skyrocketed in value. These watches will make great investments for years to come so make sure that you spend your dollars well:
- Rolex Cosmograph Daytona – 251%
- Tag Heuer Carrera Calibre 1887 Chronograph – 127%
- Breitling Navitimer 01 -169%
- IWC Portugieser Chronograph -70%
- Tudor Pelagos -26%
- Omega Seamaster Planet Ocean -18%
- Hublot Classic Fusion Chronograph -17%
Buying watches for investment purposes
We’ve already mentioned this and you’ve, most probably, heard people say countless times that “luxury watches are great investments and they hold their value well.” If you are looking for a luxury watch brand to buy, you need to find one that will be worth more in the future.
Wherever possible, get a watch that you’ll enjoy wearing and sell it after some time for the same price that you bought it or slightly more.
What factors affect a watch’s value?
There are several factors that affect a watch’s value. These include:
- The condition
How well have you maintained the watch? A watch that is well-maintained will obviously be worth more than one that is worn out and full of scratches.
- The age
Age is another factor that affects the value of the watch. If the warranty has already run out or is about to, the watch will sell for less than normal.
The box and papers are very important in the watch’s value.
- The metal
Looking at the market today, it’s quite clear that the demand for stainless steel watches is much higher than that of gold or two-tone watches. Stainless steel watches hold their value better and do watches with diamonds.
Generally, gold watches have a higher retail price so their demand is not as high as that of steel watches. Fewer people can afford gold watches
How much do watches depreciate?
When you compare the prices at which watches are bought from retailers and that at which they’re sold in the second-hand market you’ll notice a huge difference. Brands that don’t hold their value as well as Rolex, Tag, Breitling, Tudor, Omega, IWC, and Hublot tend to lose about 50%. The good news for buyers of second-hand watches is that someone will have already taken the hit for you so you won’t lose a lot after the purchase.
It’s no secret that luxury watches generally cost lost of money. Also, some choices are smarter than others. So when someone makes a bad purchase and get something that doesn’t hold its value, they’ll lose money if they resell the watch in the future. However, some people don’t really care if they lost money on buying their watches because they fell that the depreciation was worth the joy that came with owning the watch.
If you are going to make such a huge investment in a luxury watch, you are going to have to be a discerning buyer especially if it’s something you’re going to wear on your wrist often.