Watches are among the most commonly collected items sold each year. This is especially true of fine mechanical watches, which are valued for their quality, design and condition. Luxury watches have long been regarded as an investment, because they are durable, wearable timepieces that retain their value better than many other types of asset.
Make sure that you don’t need the profit immediately
Just because something is an investment doesn’t mean that it is wise to invest in it. There are many people who buy an expensive watch as a status symbol and not as an investment. These people often sell their watches years later at an enormous loss when they decide to upgrade to a more modern model. The first thing you should consider when buying a mechanical watch is whether or not you intend to keep the watch for longer than five years. If you plan to keep it for a long time, it will be worth more money when you get it.
It’s important to have an understanding of the watch market
The second thing to consider is whether you know anything about the current market for fine mechanical watches. This is important because, if you want to sell your watch for the highest possible price, you need to know about the current market for the type of watch you have. There are several sources of information on this subject. One of the best is the book The Watch Book: Compendium by Gisbert L. Brunner. Another useful source is Uhren Magazin, which is published six times a year by the Ebner Media Group.
Don’t get too used to your watch – be ready to sell
The third point to consider is whether or not you will get too attached to your watch. You should never get too emotionally attached to your investment. If you do, it will be very difficult to make a fair and good profit from selling the item. The right time to sell something is when another party is willing to pay more for it than you are. If you wait too long, the price will fall because people will no longer be willing to buy something that is not fashionable any more.
Solid investment watches
Here are a few watches for you to check out. They have proved popular for a number of years, the prices have increased at retail level, and you should still get a good price even when selling your used watch.
- Reverso A by Jaeger-LeCoultre
- Navitimer by Breitling
- Omega Chronograph Seamaster Professional
- Chronoswiss Regulator
Conclusion: are watches a good financial investment?
If you do it right, a watch is a good investment. But, as with any investment, there are certain rules you need to follow. The best advice anyone could give on this subject is to become an informed buyer. This will help you to make smarter decisions and give you a much better chance of making a profit from your investment.