4 Things in a Luxury Watch That Helps to Hold Its Value Over Time
A luxury watch is an exquisite way of expressing oneself. Like a piece of classic jewellery, watches of prestigious brands like Rolex, Cartier and Omega tend to designate a person’s character, social status and lifestyle. It has often been argued that timepieces lose their potential value soon after walking out of the showroom. While it may be true for some watches, the fact is many luxury timepieces retain their value over the time in the resale market. Thus, in short-term financial requirements, you can decide to sell your watch and raise the money you need right away.
Although the market for second hand luxury watches is today booming, it is virtually impossible to predict how the market for luxury watches will do in the future. Have a look at some of the most significant features that help the watches of prestigious brands hold their value even with age:
1. High-quality Workmanship
Many globally-recognised watch brands come with a long and compelling history that bear clout till date in the luxury wristwatch industry. The materials, style and location of manufacturing may often play a significant role in retaining the value of a watch.
While the calibre and quality of the components used to manufacture a luxury watch are taken into account to determine an overall value, timepieces made of precious metals like platinum or gold and adorned with diamonds may have a higher value in the resale market.
With esteemed heritage, luxury Swiss watches tend to keep hold of high value with time.
2. The Movement
While the movement is the heart of watches, it can also influence the long-term value of a timepiece depending on the types, the number of gems inside as well as the manufacturing location. There are three main types of ‘movement’ used in watches. Although the traditional and the most expensive is the mechanical movement, there are some exceptions when a quartz movement of premium quality can be costly, like for example the Thermoline quartz of Breitling and the Patek Philippe Ellipse quartz.
Mechanical timepieces represent the legacy of the watchmaking tradition and thus, tend to retain their value with time. The automatic watches may not be as exclusive as the mechanical ones, but they are yet considered as a symbol of luxury and used in many luxury watches.
Although there is no definitive ‘the best wristwatch brand’, names such as Rolex, Cartier, Omega, and Breitling are legendary in the luxury watch industry. Your watch may not be highly collectable, but it can fetch you a higher price merely because it is from a reputable and highly sought-after brand.
Many luxury watches retain value as the years’ pass, whereas some also appreciate like the Rolex Deepsea Sea-Dweller. The watch today is known to cost more in the pre-owned condition than the value it had when originally launched.
4. Unique features and Style
The value of luxury watches can fluctuate depending on what aspects potential watch buyers are considering to be valuable and the current market trends. Classic-looking timepieces tend to hold on their value best as timeless design usually allures a broader audience.
While the features like a moon phase display and such others can make a timepiece stand out in the pre-owned market, limited edition watch models are uncommon and eventually, more valuable.
Here’s the bottom line:
If you are looking to sell your watch, it is always essential for you to choose a potential watch buyer in London or anywhere in the UK who apprehends both the historical and monetary significance of the watches produced by elite brands. With a well-established and trustworthy dealer, you are likely to sell a watch of any luxury brand with full confidence, obtaining the most competitive price in the market.