A pre-owned luxury watch like a Rolex or Patek Philippe bestows prestige and sophistication on its wearer. They are, typically, very well made and beautiful items that are made to last. Owning some brands and models represent actual investment opportunities.
According to Jon Cox, analyst with financial services company Kepler Cheuvrex, the world wide pre-owned watch market is worth $16 billion annually. This represents over a quarter of the overall watch market yet this segment is expected to grow substantially in the coming years.
Pre-owned luxury watches hold their value better than a new watch. A new watch, like a new car, loses significant value as soon as it is purchased. The watch maybe in pristine condition but it is not worth as much as it was when it sat in the display case at a retail shop. Pre-owned luxury watches hold their value better, because the burden of depreciation has already fallen on the buyer from the original purchase.
Vintage watches increase in value over time
In fact, if your watch is of a rare or unique make and model that is in high demand, it will likely increase in value over time. Vintage watches are typically made from very high quality and superior materials with hand crafted techniques. Hours of dedication and passion from highly skilled crafts people went into making very beautiful and mechanical precise time pieces.
Monetary value is not the only reason for buying a pre-owned watch. Buying a vintage watch means owning something that very few other people will have. You will own a watch that has travelled a unique journey over time to end up on your wrist. It has its own history. Therefore, it will become a reflection of your own individual style and personality.
Do your research
When buying a pre-owned or vintage watch make sure you do your research. Take time looking at what’s on the market, so you can get to know the average prices you would need to spend on particular makes and models. Check out our ecommerce site to get a good idea of prices for the specific models AGD has in stock.
It’s important to do the research to find out what sort of watch or style suits you. It might take time and a bit of effort to find the watch that’s right for you. If you keep a careful eye out and are flexible in your choice you may well pick up an amazing deal. Find out as much as you can about a watch before you buy it. Don’t hand over the cash without knowing its service history and how many repairs it has had. Ideally, the watch you buy has the original box and papers with it. This goes a long way to proving the watch’s authenticity.
AGD has a huge range of vintage and pre-owned luxury watches available across the most popular and prestigious brands such as Rolex and Patek Phillipe. If you want to try out some of our watches you can visit our store in Melbourne’s CBD.