We live in a world where there is more digitalisation and technological advancement than there has ever been.
In many ways, this has caused traditionally-bound industries to begin to lose their footing, no longer important or relevant to modern consumers or the modern world. However, in the case of the luxury watch industry, quite the opposite has proven itself to be true – particularly in recent years. The biggest reason why that is, is that luxury watches are today largely considered to be relics of times long passed, as well as highly valuable collectors’ items.
So, the luxury watch industry is booming. But how do you make your move into that industry, how do you go about making your first luxury watch purchase? When it comes to choosing the perfect entry level luxury watch, there are several factors to consider. Each of the following three factors are incredibly important, as they dictate not only the investment you think you are making at the time, but the potential for investment further down the track, should you want to sell your luxury timepiece for any reason.
Brand power
One of the most important factors to consider when it comes to the luxury watch market is the brand power behind each timepiece. Some luxury timepieces are made of high quality materials, but are made constantly in large batches. Others are deemed luxury pieces because of not only the prestige of their materials, but the nature of their availability. Either way, the brand name associated with a luxury watch largely (if not entirely) dictates how much the watch is worth.
Condition quality
As with any other purchase, you must consider the quality of the luxury watch you are interested in, before you make a purchase. Many luxury watches available on the market are incredibly valuable because their owners not only understand the price tag attached to them, but genuinely appreciate the artistry and excellence that goes into creating each luxury timepiece. Still, there will inevitably be some offers that come with dings or scratches on the surface – or worse, internal problems. While luxury watches are indeed created to go the distance, there are always some instances where they crack under pressure. So, look for the condition of any luxury watch you are interested in purchasing before making that purchase.
Exclusive nature
There is only one instance where a luxury watch in poor condition is worth the investment – especially if you are just starting to get into the luxury watch market. That instance is the exclusivity of that particular model, not only on the market at the time you are looking to buy, but in terms of total manufacturing numbers. Luxury watches that are manufactured in limited numbers are understandably worth more, as they are more difficult to acquire. The exclusive nature of your desired luxury watch matters – so pay special attention to that, because ultimately this serves as a framework that allows for realistic expectations before you have even entered the luxury timepiece market.