Regardless if you are buying your first luxury watch or if you're looking to add to your growing collection of classic timepieces, there is a certain process that you go through when you are thinking about and planning your next purchase.
These questions range from the simple, "Rolex or Breitling?" to the more complicated, "Is this going to be a solid investment in 5 years?" To answer all of these takes time to research, carefully plan, and then ultimately purchase your watch. But, what if down the road, you wish you had asked yourself, or your watch expert, a different question before you had bought your watch?
We have compiled a list of the five things that we feel every person who plans on purchasing a new timepiece should consider before making the commitment. Although any luxury watch is an excellent buy, some are better for your style and your future intentions than others. Learn more about what things you need to think about before you purchase a watch to completely avoid any and all buyer's regret:
1. The Wearing Occasion
If you are thinking about investing in a luxury watch, one of the first things you should determine is what style watch you want to purchase! It's important to have a watch for every occasion, but if you can’t decide on what watch you should add next to your collection, look at what you have and see what you are missing. The three occasions we think that you should have a watch for are everyday wear, outdoor/sporting, and formal events. If you aren’t familiar with what watches are appropriate for each category, we've created a guide for you here.
2. The Different Types of Movements
When you’ve determined what style watches you want to consider, one of the next things you should think about are what type of watch movement you would want. As explained in a previous blog post about the different types of watch movements, the two major types of watch movements are mechanical, which use an intricate system of carefully crafted pieces that turn the hands of your clock at a perfectly tuned pace, and quartz, which are battery powered.
Because mechanical watches take an extremely skillful hand to make that only a few watchmakers are able to execute and are often less accurate than their quartz counterparts, these watches are popular amongst people who have an admiration for the craft. Quartz movement watches, on the other hand, are popular for generally everyone, because they are perfect for people who don’t necessarily have an affinity for the watch making process, but still want a precise, less complicated timepiece.
3. Choosing A Watch Brand/Designer
When taking into account a brand or designer of watch to purchase, there are two important things to consider in addition to the iconic styles that you have come to know and love. The first is the resale value of the brand today.
The next is if the brand is likely to increase in value over time, therefore making your resale value higher. Things to consider include the brand name itself, the history of the brand, the exclusiveness or obtainability of the collection, and the increase or decrease in demand for a certain brand or collection in the recent years. These things can’t necessarily be found online, but by talking with your jeweler and asking the right questions you will be able to determine if your watch investment will increase in value over time.
4. Should You Buy New or Used?
Because luxury watches are designed to last, it is almost as popular for people to buy brand new timepieces as it is to buy pre-owned luxury watches or vintage watches.
If you are contemplating the decision between buying a new or used watch, here are some of the different reasons we have come up with to pick either one or the other which should guide you in your decision making process. If you were thinking about buying a vintage watch, you need to check out these tips before making your purchase.
5. Services After Your Purchase
People often compare buying a luxury watch to buying a brand new car. When it comes to servicing your watch after your purchase, the two are almost identically similar. Like your set of wheels, your watch will often need maintenance every now and then. Make sure you ask your watch dealer or jeweler at your place of purchase if they have a service center or someone to fix or adjust your watch on site, or if your luxury watch will need to be sent to the manufacturer for alterations. Then, make sure you ask about the cost of these services. Some watch modifications, depending on what it is, could be expensive, so it is good to know these things before you purchase your watch.