Investing in watches can be rather daunting. There are so many timepieces on the market and everyone has different advice. Our guide to investing in watches: dos and don’ts will provide some simple guidelines for those who are new to the market. Watches can make brilliant and profitable investments. However, it is understandable to have some hesitations when investing in anything. This guide hopes to clarify the basic things to consider when contemplating investing in watches. If you are looking to purchase a timepiece any time soon, keep reading for our guide to investing in watches: dos and don’ts.
Do: Be Patient
When searching for the perfect timepiece to invest in, it can be tempting to rush into a purchase. However, this is not advised. It is best to look around and do plenty of research before settling on the best watch for you. Even if you do not seem to find anything at first, be sure that the perfect model always comes along. Additionally, rather than rush into a purchase of a more affordable timepiece, if you are looking to invest it may be better to delay your purchase. Consider what your financial situation could be like in a few months’ time. It may be that you could use that time to save some extra money and put it towards your absolute dream watch.
Don’t: Buy Without Trying
It is often advised not to buy a watch without seeing it in person. The weight, feel and look of a watch on the wrist can impact a decision significantly. You may end up feeling like a case is too small on your own wrist, or the colour of the strap may appear a different shade in person. This is especially true if purchasing a second-hand model. Viewing a pre-owned watch in the flesh will provide the opportunity to assess whether it is genuine and in good condition.
Do: Consider How The Watch Will Be Worn
When purchasing any timepiece, it is very important to consider how and where it will be worn. Certain watches are suited to different lifestyles and it is best to assess your own needs before jumping into a purchase. There may be no point in investing in a super robust and durable watch if your lifestyle does not require this. Those with a more active lifestyle may need a durable timepiece, whereas those who like spending time in and around water may prefer a watch with higher water resistance. However, if the watch is going to be worn for formal occasions, style may be the top priority.
Don’t: Fixate On Resale
Although resale is certainly something to consider when choosing a timepiece, it is not worth focusing entirely on this aspect. Not all watches retain their value. It is only the very top brands, such as Rolex, that tend to go up in value over time. Watches are made to be worn and enjoyed, and some timepieces may even suffer for being left in their box. You may strike lucky and purchase a timepiece that does go up in value over time. However, in case it doesn’t it is always best to make sure you actually like a watch before purchasing it.
Do: Search For Limited Editions
Limited edition watches are one of the few types of timepiece that are almost certain to increase in value. The more rare the watch, the higher the resale value. Rarity is paramount when investing to make profit. Many vintage limited edition timepieces have become coveted by collectors, with some selling for hundreds of thousands. If you are looking to invest in a limited edition timepiece, check that it is built using high quality materials. This will ensure that the watch will remain in good condition for years, ready to sell to another collector.
Don’t: Buy For Fashion
Some timepieces come into style for a very short period of time. This may be because they have been spotted on a celebrity, or the brand has released a convincing advertisement. No matter the reason, these watches often do not date well. Fast fashion has become a significant issue in all areas of fashion and accessories as it causes the popularity of specific styles to rise and fall at a dramatic rate. Watches that have fallen victim to these patterns are stand out as being ‘of their time’. For this reason it is best to invest in a timeless style that can be worn for decades, no matter the trends.
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What did you learn from our guide to investing in watches: dos and don’ts? Do you have any tips to share? Let us know in the comments below!
