For some of our customers, timepieces are purely functional. You check the time (even if adjust it a few days after daylight savings) and you slide them back under your sleeve. But, timepieces are rich in tradition. The time honored history of preserving a watch to be passed down from father to son, mother to daughter. The heirloom that lends another level of connection through the generations. The certain sense of success a fine watch projects.
The smartest watch you’ll ever buy is the one that feels good on your wrist, matches your style, and increases in value. Today, the value of a premium watch continues to grow especially as supply decreases. Some major watch auctions are seeing astounding numbers, and some estimates suggest that the return on investment in a watch could be 30 to 40 percent in just 10 years (depending on the brand).
Here’s what’s happening out there: while department store timepieces are being overproduced like mousetraps, luxury watch makers are creating increasingly smaller numbers of even better timepieces. For the collector of classic watches, this exclusivity is further increasing in value.
There are never certainties with any investment, but when you invest in a luxury watch you will always have an heirloom to pay forward. It will become a cherished piece of your family's legacy to be passed down for years. Not something you can do with a closet full of suits.
When purchasing a watch, always buy it because it’s the watch you want to wear. If you’d like to be sure the timepiece has a good chance of increasing in value, consider these 7 steps:
Choose a Watch from the Major Brands
The brands with long histories and limited inventory (like the ones in our stores) will likely fair better over time.
Be on the Look Out for Iconic Watches
Timepieces that fall into the category of being an icon (or a cult watch) are most likely to hold value best. A particularly special watch may even to increase in value over time.
Check for Limited Edition Pieces
The simple law of supply and demand - once the manufacturing of these watches stops, collectors of these watches will pay much more. When there is no longer a supply of these timepieces left, the prices are subject to how badly a collector wants it.
Buy the Seller
This means that it is ideal to find a retailer and start a lifelong partnership. You need to be able to trust the retailer, no matter the price point. A great jeweler is the one who understand your collection and keeps you in the know about one-of-a-kind pieces and new releases. They will also help you maintain the condition of your collection with expert service and storage recommendations.
Treat Your Watches Like Classic Automobiles
Well maintained, serviced and insured (no excuses). But, know that these timepieces are also made to be worn and enjoyed everyday.
Educate Yourself About the Industry
When acquiring watches from existing brands, it’s easy to find a wealth of knowledge in books, on the internet and from friends. Even if you feel like you are an expert on the topic, there is always more to digest. A trusted retailer with a long standing connection to the brand will be able to access even more information about newly discovered history or the brand's newest models.
Check Out Every Watch In Person
Nothing beats the experience of being able to touch and test out the watch before you swipe your card. Working with a certified retailer will ensure you have all the warranties, boxes and service schedule needed to keep your investment at its highest value possible.
Looking to start your own luxury watch collection? Schedule a viewing with our expert staff in our Winston-Salem or Greensboro locations to get a leg up on the competition.