Owning a smartphone can make your life more convenient. The mobile device allows you to access different applications in one device. This technological advancement, however, has affected the watch industry because your phone can also function as your watch.
Smartphone manufacturer, Apple, even created its own watch, making the tech brand the top watch manufacturer in the world. In 2017, the company outsold the Swiss watch industry, including Rolex, Omega, and Swatch, among others.
Despite the rise of smartphones and smartwatches, visiting your local jewelry store to buy a luxury watch is still worth it. A watch symbolizes style, functionality, and sentiment. It’s a timeless piece that every man or woman will need.
Some Watches Appreciate in Value
The value of luxury watches appreciate over time, like real estate properties or classic cars, but not as much. Not all luxury watches, however, are an ideal investment. Jewelry experts explain 95 percent of modern timepieces are not going to be investments.
Some models might not appreciate and not give you favorable returns. After all, watches follow trends and you might have to wait several years before a certain style becomes trendy again. That’s why it’s essential to be smart when buying a luxury watch, especially if it’s your first time.
Vintage watches usually hold higher value compared to a new one. You can attend auctions where you can find interesting pieces with a low reserve.
Invest in Timepieces that Would Increase in Value
The size, style, and brand can affect the value of your watch over time. Several watches offer great returns, but two brands stand out among them: Rolex and Patek Philippe. The development of a watch’s value is affected by different aspects, such as:
- Brand recognition
- Exclusivity
- Availability
- Heritage
- Demand
Rolex is one of the brands that present these aspects. It is in demand and has an impressive list of influential people who wear and have worn Rolex watches over time. The brand is also highly recognizable and widely available.
Patek Philippe shares the same characteristics, as well. But unlike Rolex, this brand is not widely available because it costs higher than Rolex. Patek collectors weigh exclusivity more than the other aspects.
A Better Way to Buy Watches
A luxury watch will cost you a fortune, making it crucial to choose the piece carefully before checking out. You should choose the model that best reflects your lifestyle and personal aesthetic as well as mechanical considerations. Identify what you need in your timepiece then look for the brand to fit your requirements.
Seek help from watch enthusiasts to learn more about the brands that will never lose value. Apart from Rolex and Patek Philippe, Cartier and Vacheron Constantin are also an ideal investment.
Once you have identified the style and brand you want, determine the diameter of the watch and width of the case. This helps you select the model that fits your wrist. A 38-41mm diameter watch is ideal for everyday wear and appropriate for all dress codes.
Technology has made the lives of many people more convenient. But it doesn’t mean you have to turn your back on traditional items like watches. With proper care and maintenance, a quality watch can be passed on and gifted to generations until it becomes a family heirloom.