Researching Your Luxury Watch Purchase
Purchasing a luxury watch such as a Rolex should always be done with some research and due diligence, as this will ensure you get the best deal available. In this article, you can learn more about which factors you need to consider when buying a luxury watch.
What are the top luxury watch brands?
When it comes to luxury or designer watches, the brand name takes centre stage. Almost all luxury watch brands price their products at a premium, and this is reflective of their quality and prestige.
If you want your luxury watch to stand the test of time, its best to choose from one of the renowned watch makers on the market. Some of the biggest names you should check out are Rolex, Cartier, Patek Philipe, Richard Mille, Omega, and Audemars Piguet.
No matter which of these you choose, you can rest assured that you’re getting a top-quality product for your money.
What brand of watch should I buy?
It’s all well and good to pick out the watch of your dreams, but the thing about luxury watches is that you can’t always get the item you want. The main obstacle for obtaining these luxury items is the price point.
Most of the top level brands such as Rolex and Audemars Piguet often charge a premium price for their new models, and the prices can range anywhere between a few thousand pounds to tens of thousands depending on the rarity and other factors.
If you pick out a watch, you need to ensure it fits your budget before proceeding further.
What warranty does the watch have and what does it cover?
When you spend so much on a prized possession such as luxury watch, it’s only natural to want to take measures to protect the item. You need to ensure you are provided with a warranty if you buy a new watch, and it’s also a huge bonus if you can find a used luxury watch with a warranty as well.
The length of the warranty and the areas it covers depends on the area you reside, as well as the brand. For most watch makers in the EU, the standard warranty is 2 years, but some luxury brands offer a longer warrant as well. For example, Rolex has 5 years as standard.
How much does it cost to service a luxury watch?
If you want to keep your luxury watch looking sleek in the long term, you need to make a habit of servicing it regularly. Most luxury watch brands provide you with specific guidelines about when you need to service your watch, and they also provide the information of an authorized service centre.
Your best bet is to follow the instructions that the manufacturers have provided you, as each luxury watch brand has their own requirements for servicing. As an example, you can check out the Rolex guide to servicing your watch.
Is a Rolex worth the money?
Rolex watches are a remarkable purchase since they hang on to their real worth and can even appreciate in value over the passage of time. Owing to the proprietary quality of the watch and their unique features, the timepieces also boast a long lifespan if they are properly serviced, and they can also provide you with good resale value if you wish to dispose of the item.
If you decide to go for a vintage model, you don’t have to worry about the value as most vintage models also see a rise in their value. It can be a great investment depending on the model, ending up being worth similar or more than the retail price over time.
What style of watch will suit my lifestyle?
If you’re going to spend a considerable sum of money on a luxury watch, you should make sure that the watch will go with your day to day life as well.
If you live a physically active lifestyle with lots of movement and extreme conditions, a diving style watch such as a Rolex Submariner would be ideal for you.
Luxury watches come in a broad variety of styles, such as a digital style watch, a watch with different world time zones, or a traditional dress watch. The watch you pick will ultimately depend on what features you would like.
Will this watch be an investment?
If you watch to purchase a luxury watch as an investment, you need to look for different criteria as opposed to a watch you purchase for personal use.
For example, this watch will not be an item with any sentimental value, so you can forgo your own personal tastes and preferences and instead do some research about the luxury watch market.
This can help you identify the best watch for investment, by comparing and evaluating some important factors such as availability and potential resale value.
Will this be your first luxury watch?
If you have already bought or own a luxury watch before, you can take this opportunity to try out a different style of watch, or maybe even a different brand. You can also make this purchase for the purposes of investment only, if you want to go that route.
If this is indeed going to be your first luxury watch purchase, you should take all the necessary steps to ensure you get exactly what you are paying for!
Should I buy pre-owned or new?
Once you’ve decided which watch to buy, the question arises about which sales channel to purchase it through. The most obvious way to buy a luxury watch is to purchase one from an authorized retail store of the brand.
However, your purchase will be much more expensive and you might have to wait a while for the watch you watch. If you buy your watch from a reputed professional seller, you can usually get the same or similar models pre-owned for lower prices.
Where should I buy my luxury watch?
Buying luxury items via online auctions or websites such as eBay can be risky, as the product you get may not be authentic.
To ensure you’re getting a good quality product, you should opt to purchase from an official brander retailer or trusted professional buyer instead.
You also have a much better chance of getting the official packaging and warranty if you buy from a trusted source.
There are a lot of factors to consider before you are ready to make an expensive purchase like buying a new Rolex or another luxury watch, but with a little due diligence, you can walk away with an exceptional item on your wrist. Good luck!