How to Buy a Luxury Watch, According to Experts
Deciding to invest in a timepiece can be a rather large purchase, especially when the luxury market is surging. Classic and well-known watches, as we all know, carry a certain influence, and therefore, can demand higher prices—making them all the more appealing. That said, there are certain qualities to look for when thinking about making this sort of purchase. From materials and movement to design qualities and brands, there are many things to consider.
"One of the biggest factors when looking at curating a watch collection comes down to the name (or names) on a watch’s dial," says Nate Borgelt, head of Bonhams Watches in the U.S. "As a general rule, when collecting, it is safe to stick to certain brands from a monetary perspective, although collectors have branched out over the past decade to look at other, lesser-known brands and retailers that share similar histories and quality. This has expanded the vintage market to be more concerned on larger aspects of the collecting hunt, such as complications and condition."
"When seeking to acquire collectors’ timepieces with enduring value, a key criteria to focus on is quality," says Paul Boutros, head of Americas at Phillips Watches. "This quality theme applies to several aspects of a timepiece, including the brand and model, its design, its movement, and for pre-owned or vintage timepieces, its condition and originality."
Certain brands are highly collectible—with Rolex and Patek Philippe obviously coming to mind—and have iconic models with revered statuses in the watch world by collectors and enthusiasts alike. These timepieces are always highly sought year after year, auction after auction. Cartier always has an interesting take on their storied designs with new releases usually paying homage to the Maison's design history. The Cartier Privé collection—a grouping that over the last several years has featured a new release that is a revisit to an iconic Cartier design—has created a place for its enthusiasts to converge when a limited-edition Crash, Cintrée, or Tonneau is debuted.
Another key factor to focus on when timepiece shopping is where it lands on the scale of timelessness. Classic designs and materials will always have a strong resale value, as they don't lose impact decades down the road. Isn't it always a thrill when one finds a vintage handbag, bracelet, or timepiece model that carries with it the weight of standing the test of time? Timepieces like GMT Master II from Rolex—a 2022 new release—is sure to be a model that will be as desirable in the years to come as it is now. But, more importantly, it carries a history that, despite small design updates—like the grass-green hue on the GMT Master II's bezel—overrides any trend.
"In most cases, the designs of [collectible] models will be timeless, avoiding fashion trends that look dated after only a handful of years," continues Boutros. "With timeless styling, a model can become iconic, and 50-plus years from now, the model will look contemporary, ensuring the long-term appeal—and value of the timepiece. At the same time, skillful design with well-balanced proportions ensures a timepiece can comfortably fit a wide range of wrist sizes, making it desirable for the widest range of clients around the world."
And, of course, not just the appearance of the watch is important, but also, the complications and movements that make up the timepiece's DNA. Timepieces like Patek Philippe's 5230P Complications (inspired by the famous and now highly collectible World Time watches released in the 1930s) or 5204G Grand Complications are great examples of this. They are the physical embodiment of not only a watch with wonderful mechanics, but also living proof of what its creator also does so well—making them doubly desirable. Perpetual calendars, chronographs, patented innovations, and the like: All of these qualities add to a timepiece's functionality and also collectibility.
"Inside, sought-after collectors’ watches are powered by well-made, reliable, and accurate mechanical movements—finished commensurate with their asking price," says Boutros. "Beyond telling the time, complications such as chronographs, perpetual calendars, and at the highest end, minute repeaters, add complexity and cost, while showcasing the skills of the brand. The finer the finishing on all parts, both visible and unseen, the more desirable and prestigious the watch, thereby enhancing its value to collectors."
If shopping auctions or vintage markets, the state in which the watch is being sold is obviously something to heavily consider as well. "Condition will always be the deciding factor for many collectors, and whether you have a watch from the 'Holy Trinity' or from an off-off-off brand," says Borgelt. "If the watch is presented in its original, unpolished, factory-fresh condition, complete with certificates and other accessories, it will always be at the top. And while there are still the individual brands that rule the market, and even when you have a collecting base as large as those for Rolex or Patek Philippe, there are subsets within the brands for types of watches, reference, complications, and even variations of dial details such as underlines and types of chronograph scales."
Lastly, one should trust his or her gut when watch shopping. If it speaks to you, then it will most likely speak to another collector down the road as well. Whether it's sparking with gems (like Vacheron Constantin's Moon Phase Jewellery watch that takes its inspiration from the magic of haute couture) or free of stones (like Jaeger-LeCoultre's classic Reverso One Duetto Moon watch), stainless steel, yellow gold, platinum, or rose gold, more fashion-driven or highly complicated, high-end timepieces—just like all luxury purchases—are a very personal thing to acquire and should reflect one's style ethos.
"Stick to the classics according to the market, but also to what you gravitate," adds Borgelt. "Whether it is a vintage Patek Philippe Perpetual Calendar Chronographs or a modern A. Lange. & Sohne Complications—if you are attracted to a design, complication, or a certain material, find the examples that speak to you and [that you] enjoy collecting. If a watch has certain factors that you enjoy, there are bound to be others out there who share that passion."
You Might Also Like
