With inflation and current crises, many people are looking for new ways to invest. Rather than letting your money lose its value in your bank account, we recommend looking at alternative investment opportunities like luxury watches.
But is an investment in a luxurious watch actually worth it? Find out here!
Are Luxury Watches A Good Investment?
Are you not sure if investing in a luxurious watch is a good idea due to the high demand for smartwatches? Don’t worry; the current value of the luxury watch industry is estimated at 7 billion dollars, which is ten times higher than what it was a decade ago.
A luxury watch is more than a simple timepiece; it is a statement of wealth for many people. Because of its high price, it is a product that not everyone can afford.
The demand is high, as already mentioned, but because of the long production process, only a limited number of watches are produced every year, which raises its value significantly.
Swiss watches and watch manufacturers are especially sought after. Currently, around 95% of all Swiss watches are sold for more than 10,000 USD. Have a look at the Chrono24 Swiss watches and see for yourself the high craftsmanship and design of each individual piece.
Luxury watches from Rolex or Patek Philippe are great investments because they constantly rise in value. But be aware that not every model will lead to high returns; some models are more popular than others.
Now, we want to give you helpful tips and tricks to find the perfect luxury watch as an investment.
Five Tips You Should Consider When Investing In Luxury Watches
If you want to buy a luxury watch as an investment, you should keep the following tips and tricks in mind!
Some brands are more popular than others. Rolex and Patek Philippe are the leading brands and therefore have the highest demand.
Not just the brand is essential, but also the model. There are a few models that specifically stand out with their constant rise in demand and therefore resell price. These models are Patek Philippe Nautilus and the Audemars Piguet Royal Oak.
Watches like the Rolex GMT-Master come in different styles and materials, for example, gold or stainless steel. It depends on the model and the brand, but some materials are more popular than others.
Have you decided on what watch model you want to invest in? If so, you should look for what materials have the best return.
Some brands come out with special editions, like the Rolex Cosmograph Daytona (Green Dial) John Mayer edition – these watches are popular.
Since these watches are only produced for a short period of time and are only available in limited numbers, their value is very likely to increase.
If you intend to resell your luxury watch for a profit, you need to make sure that the watch will be in flawless condition. Unfortunately, even the most minor marks can lower the return significantly, and you, therefore, need to take good care of your watch.
We hope these tips and tricks will help you to make a smart investment decision. Just be sure that you do your research first before deciding which luxury watch you want to buy.