Style Advice / May 18th, 2015
Investing in a Luxury Watch | A Guide for Men
There are few things in life worthy of an investment.
Most items are good enough just being bought. We enjoy said item via consumption right up until it’s fully depreciated. Then we toss it away and draw our attention to the next shiny thing that entices us.
A luxury watch does not fall into this category.
Purchasing a watch made with pristine craftsmanship and precision worth drooling over is seen as an investment.
Actually, some luxury watches can be worth more than the purchase price down the road.
A luxury watch is the ultimate investment. A work of art that a man can enjoy now and pass off to his son or grandson later on.
A luxury watch is something worth spending your hard earned cash on.
When you’re ready to invest in a luxury watch you must first gain some clarity on three key things:
- What qualities to look for in a luxury watch
- How likely the luxury watch will retain its value in the long run
- Key questions to ask a watch dealer/retailer to minimize the chances of getting scammed.
I’m going to dive right into each of the 3 categories below so put your seat belt on and let’s get started.
Key Qualities in a Luxury Watch
A key component to a luxury watch is its movement, which basically means how it functions to accurately tell you the time.
There are three ways that a luxury watch (or any watch for that matter) tells time:
- Quartz – A very accurate option, the quartz mechanism runs on electrified quartz crystal, which is one of the most common minerals found in the world. The quartz crystal vibrates back and forth at a frequency of 32,768 times each second. Impressive stuff.
- Digital – In a nutshell, a digital luxury watch simply handles its movement electronically instead of mechanically. A digital watch is most often powered by a tiny battery or in some cases, a 120 volt cord you plug into a wall.
- Mechanical – The ultimate work of art, mechanical watches are crafted by tiny gears and springs working in perfect harmony. Even though the mechanical luxury watch is a thing of beauty it does have a downfall. Mechanical watches need to be wound up often to avoid inaccurate time. Also, if you’re thinking of buying a mechanical luxury watch prepare for a pretty large investment.
Not many men take the time to evaluate the fit of a luxury watch prior to making a purchase.
This is a mistake.
The size of the watch should be dictated by the size of your wrists and hands. If your wrists and hands are small you would do well with a slim watch with a smaller face.
If the opposite is true, a large faced watch with a thick strap will compliment your large wrists and hands.
Balance is key as it’s easy to have the watch look out of place when wearing it. For example – wearing a slim strapped watch while having the hands of a linebacker will make you look pretty feminine.
Wearing a luxury watch should be something you enjoy for many years to come. Especially when dropping a pretty penny to purchase one.
It makes sense to get a watch that meets two criteria in its style:
- First – How does the watch meet your personal style? Would you prefer a watch with a gold face and does it matter if it has a leather strap? Get this right and you will love wearing your luxury timepiece.
- Second – How timeless is it? Avoid fad watches that will be out of style in two years. A simple, white faced watch with a black or brown leather strap will always be in style and versatile enough to be worn with many outfits.
Investing in a luxury watch can be limitless so it’s important that you set a budget for your self.
One of the first things you should do is highlight the features the watch must contain to ensure you will be satisfied with the purchase. Once that’s set, you can browse online or visit a few watch dealers to see what luxury watches match your criteria.
Compare the potential cost of the watch with your budget and see how much of a gap exists.
If the cost far exceeds what you can afford, do yourself a favor and take some time to save additional money. Don’t go buying something less expensive if you’re not going to be satisfied with it. It’s easy to spend a few thousand dollars on a watch so why get something you will regret?
Saving an extra grand or two and making a purchase you will absolutely enjoy makes much more sense.
Value Retention of a Luxury Watch
A luxury watch is a thing of beauty and sought after by men who appreciate high quality all over the world.
If your hope is to one day sell your luxury watch for something else you fancy, it better contain most of the criteria listed below:
A watch is a small accessory but it’s pretty surprising how much effort and time actually goes into creating a high quality one.
A watch that is hand made by a skilled watchmaker will always be more valuable than one that was mass produced in some factory. With that said, this will definitely be reflected on the retail price.
As mentioned, the movement is also a key criteria used to determine the value of a watch. A mechanical watch is usually more valuable than a digital or quartz movement and will most likely retain its value better.
Craftsmanship can only take a watch so far. In most cases, the materials used in a luxury watch determines its value.
Precious materials such as gold, silver and diamonds will raise the cost substantially compared to one strictly made of steel and quartz.
Be sure to examine the materials used to create the watch by asking your watch dealer, checking the packaging or doing some research online.
Like it or not, the brand name will also be seriously considered when valuing a luxury watch.
How to Interact with a Dealer of Luxury Watches
You probably want to run to your nearest dealer and purchase that fancy watch you just read a review about online.
Hold right there.
It’s easy to get caught up in the moment when seeing a stunning luxury watch. Watch dealers and retailers know this as well and many of them take advantage.
It’s a good idea to demonstrate your knowledge in watches when in the purchasing process. To protect yourself from getting ripped off, be sure to ask these 4 questions at least before pulling the trigger.
1. What Movement is contained within the watch?
A critical question to ask and one that will tell the dealer you mean business. Not only will you demonstrate your knowledge of the mechanics of a watch but you get to test the retailer on how much of an expert he is!
A great watch dealer will go into detail on the respective movement such as where it was produced and by whom.
2. What watch is comparable to this one?
One of the biggest mistakes you can make when in the market for a luxury watch is falling in love with one.
Even if you find a watch you must have, it’s a good idea to ask the retailer to show you some alternatives to compare.
Who knows, maybe the alternative can be an even better fit for you.
3. What warranty is offered with this watch?
You just spent $3,000 on a watch and want to know if you’ll be covered if it ever gets ruined. I would say that’s a pretty big thing to get clarification on.
Not only will you want to know how long the warranty runs for but also if it’s covered by the manufacturer or the retailer.
Determining what the warranty covers is also important. Ruining your luxury watch is horrible but it’s made much worse when you find out that it’s not covered under warranty.
4. How much can I expect to pay to get this serviced?
Lastly, ask the watch dealer what you can expect to pay to have it serviced. This is especially important when purchasing a mechanical watch given the many small pieces required to keeping it functioning.
Also do some additional research online by reading reviews and blogs specializing in luxury watches.
The more consistent the responses you get on service costs for your luxury watch the safer it is to assume it’s accurate.
In conclusion – A luxury watch should definitely be seen as an investment rather than just a purchase. Not many accessories can make an impact to your style that a luxury watch can.
Now that you’re armed with the knowledge to make a smart purchasing decision, save up and buy a luxury watch. You’ll be thankful that you did.