What You Should Know About Investing in Luxury Watches
Around 24% of Americans want to invest their money, which explains the rise in investment watches.
Investing in premium timepieces is an effortless way to grow your funds without any risk. But, if you’re new to the world of luxury watches, it can feel overwhelming knowing which ones are worth your time. Perhaps that’s what brought you here; you’re unsure of which timepieces to buy and need a nudge in the right direction.
Sounds like you? No worries, we’ve got you covered. Here’s everything to know when investing in luxury watches.
Table of Contents
Understand the Benefits
One of the main reasons to invest in jewelry like watches is that it’s a portable asset. Regardless of the market, there are always watch buyers so you’re guaranteed a hefty profit. Also, luxury watches align with everyone’s style and are timeless, which means you’ll always look fresh.
Further, it makes sense for watch lovers to capitalize on their passion. This way, you can slowly build a collection and sell it when you’re ready.
Choose Between New vs Used
Before splurging on luxury timepieces, decide whether a new or used model works best for you.
Like vehicles, your new Rolex loses value once you leave the store, which explains why the pre-used market is enormous. As you search for models, know that vintage watches are over 25 years and are no longer produced so they’re far more expensive. If you’re interested, you should buy automatic watches online for an extensive collection.
On the flip side, if you’re not ready, buy stocks of watch companies instead. Unlike other companies, many heavy-hitters like Rolex are family-owned, which means they are incentivized to produce quality timepieces.
Know the Best Time to Sell
Although it doesn’t sound like it, there is a specific time to sell your luxury watch. The key is to pay attention to the market and look out for trends as these can influence your selling decisions. A good rule of thumb is when the timepiece’s price is rising, it’s a great time to sell.
Choose Watches Carefully
Watches aren’t created equal so be mindful of your choices. If this is your first time, look out for the classics that never go out of style. This includes the best-selling Rolexes, Cartier, and Patek Phillippe.
There are also factors to take into consideration. For instance, if the model was released as a limited series, you can charge far more. Also, the watch should be aesthetically pleasing and innovative.
You should also keep the watch’s original box, receipt, and warranty card. If you do wear the watch, make sure that you regularly clean it and keep it in good condition.
Invest in Luxury Watches Today
Hopefully, you’re now set to invest in luxury watches.
There are many factors to consider, such as whether you should buy a new or used luxury timepiece. Investors should also choose the model carefully and know when to sell to maximize profits. Good luck with your venture!
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