If you like the watch, then yes, by all means, but there could be other reasons. You may consider this an investment watch, a collectors' item.
5 Tips For Anyone Looking To Buy A Luxury Watch | Chrono HunterThinking about buying a luxury watch but not sure which one is right for you? These 5 tips should help make your decision a bit clearer.
Making your first big watch purchase can be a daunting task. And, much like any other luxury item out there, buying well requires that a bit of homework be done first.
You could just walk right into your local Rolex, Omega, or IWC boutique and buy whatever model that’s caught your eye, but if you don’t buy wisely you risk losing your shirt. Not all watches are created equal and not all watches hold their value equally well, either.
We've created these 5 top tips for anyone who is looking to buy a luxury watch and we think they should help make your decision a bit easier.
1. Think about your Lifestyle
Before starting the search for your first luxury watch, you should consider when you’re going to wear it. Given it’s your first watch, you might want to wear it every day until you start adding other watches to your collection. So think about your lifestyle.
Wear a suit to work? If so, you’ll want something formal; a classic that elevates your look, makes you feel good and tells others you mean business. A Longines Conquest Heritage, perhaps?
If you’re more of a smart casual dresser you might want something more versatile, a mix of sporty and formal. Check out the Omega Aqua Terra range or the Railmaster - watches that can effortlessly be dressed up for special occasions.
Maybe your lifestyle is an all-action, make every second count type of affair? That can be tough on a watch but you’d be well catered for with the Tissot Seastar 1000 chronograph, or the Hamilton Field Titanium Auto.
2. Buy from an established brand
You don’t have to buy your first watch from a Swiss brand that has a history going back to ancient times. It’s entirely possible to buy a great first watch from newer brands. But always buy from a brand that’s properly equipped with an after-sales service department for servicing, repairs, and spare parts.
Watch brands don’t come much more blue-chip than Rolex and if you have the budget a good place to start looking for your first watch is to cast an eye over their modern steel models. Whether you’re talking about a GMT-Master II, Submariner, Explorer, Date-Just or Air King you can buy with confidence in knowing that they’re backed by all the resources of ‘The Crown’.
3. Buy for love, not money
Your first watch should be something you keep to be proud of. So if you’re looking at your first luxury watch purchase as an investment that will be worth more when you choose to sell it, my advice is that it shouldn't be the main factor in your decision making process. Some watches do gain in value over time — Patek Philippe Nautilus reference 5711 owners are presently sitting pretty — and both modern and vintage Rolex Daytonas have been rising fast, but good luck finding either of those anywhere near their original retail price.
No, the best reason to buy your first luxury watch is because you love the watch. If you love watches and the art of watchmaking, you can be steered in a direction where at the very least you’re not going to make a poor purchase.
4. Look for Limited Editions
Rarity can add value to a watch. But you’ll need to choose the right kind of rare. Any ‘limited edition’ luxury watch that’s being offered in the thousands of examples, isn’t really limited and you should look elsewhere if maintaining or gaining value is a factor for you. The lower the number of examples produced, the better off you’ll be.
Panerai limited editions and Omega Speedmaster special editions have generally performed well. At more accessible price points very limited pieces from independent and low-key brands are well worth a look. Zodiac has made a handful of limited-edition releases like the Super Sea Wolf 68 that continue to be popular - fetching strong prices when they come up for resale.
5. Buy into the seller
There are three things to consider when selecting a retailer or seller from whom to buy your first luxury watch; trust, price, and service. You must trust the person you are buying your watch from. Watches are high-value goods and can be costly to repair so in the event of a problem you need to trust that the retailer or seller will fix it for you, either by repairing the watch or by returning your money.
At the end of the day, we'll always say that you need to shop for your watches with your heart in mind more than your pension plan, but if you keep an ear to the ground and pull the trigger at the right time, you can at least avoid massive depreciation on your first luxury watch purchase.
Follow these 5 steps to buying a watch via Chrono Hunter and you’ll be connected with reputable dealers carrying an unrivalled selection of top brand luxury watches.
Whether you’re buying your first luxury watch or the latest one in your collection, you’ve found the right place to begin your search.
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While it’s worth pointing out that a little bit of research goes a long way in terms of choosing a watch that is likely to accrue in value, the good news is that Patek Philippe models are renowned for holding their own...
Owning a Rolex is also about owning a piece of history. Each model is a link to a moment in time, which can be cherished forever and passed down through the generations - think of your Rolex as an investment in you and your loved ones’ future: