A luxury watch is a serious investment, and as such, the purchase deserves serious consideration. This isn’t just a practical accompaniment to your everyday life or something to be worn out and then replaced with another serviceable item.
No, a luxury watch can be a testament to your hard work, something to commemorate a significant milestone, and even a family heirloom that can last for generations.
Buying your first luxury watch is exhilarating. There’s so much to learn about the mechanics, materials, history and features of quality timepieces. In fact, the more you learn, the more likely you are to become a connoisseur of fine watches and truly appreciate their many moving parts. The craftsmanship and mechanics of these watches are truly impressive; they’re the products of centuries of mechanical and artistic achievement.
So where do you start in the process? In this blog post, we’ll give you five things to consider when buying your first luxury watch.
Car enthusiasts wouldn’t dream of buying a luxury vehicle without looking under the hood, and the same is true for fine timepieces. In broad terms, there are two types of watches, those powered by quartz batteries and those powered by mechanical movement.
Mechanically-powered watches are made up of hundreds of tiny parts that are painstakingly assembled by hand. Because of their complexity, mechanical watches are usually more expensive, both to purchase and to maintain. But many watch lovers prefer these watches because they’re more romantic and maintain their value in the long term and even increase in value in some cases. That's why they're still in high demand, even through the technology is hundreds of years old.
On the other hand, quartz watches are generally easier to maintain. They rarely require the kinds of maintenance that are seen with mechanical watches, and they run on reliable modern technology. Although it’s wise to take a look at both styles, you’ll probably decide early on which kind of watch is the best fit for your first purchase.
Well-known makers of fine watches have impressive histories and reputations, and you’ll do well to spend some time researching them before you shop. You’ve heard of Rolex, but did you know that in 1910, a Rolex watch was the first wristwatch in the world to receive the Swiss Certificate of Chronometric Precision? The company has continued to build on their reputation for precision, but they’re not the most historic company.
Patek Philippe was founded more than half a century before Rolex came along and made its own contributions to the wristwatch as we know it today. For instance, in 1844 Jean Adrienne Philippe won an award at the Industrial Exposition in Paris for his keyless winding and hand-setting system for personal watches.
Research the histories of today’s most popular luxury watch brands and you’ll read about a fascinating journey through the intellectual development of our mechanical world.
Luxury timepieces come in a variety of styles, and you’d do well to think about how you want to wear your first one. Do you want to wear it mostly in formal situations? Do you prefer a sportier look? Would you like to wear it to the office every day?
Men’s watch styles can be broken down in a number of ways. The following includes the most common:
Give a nod to your interest in military history, diving or other personal interests by wearing a luxury timepiece on your wrist that was created for your hobby’s unique requirements.
Many luxury watches hold their value over time, and some of them have traditionally increased in value, especially watches made by Rolex and Philippe Patek. Iconic watches, such as the Rolex Submariner, tend to increase more than niche watches, such as the One Hertz from Gronefeld. Perhaps this is because there just aren’t as many buyers seeking niche brands.
When it comes to your first luxury watch purchase, decide what your objective is and how much you want to spend. In this market, you can spend anywhere from a few thousand dollars to tens of thousands and then the rarified millions of dollars. Do you want to buy your watch as an investment to be sold later or as an heirloom to hand down to your children? Are you dipping your toe in the luxury watch market, or are you ready to dive in (with a Rolex Submariner on your wrist)?
You wouldn’t dream of leaving a Rolls Royce uninsured, and the same is true for a luxury watch. With specialised watch insurance from Q Report, your luxury timepiece will be insured against loss, theft and damage. With 125% cover, your watch will be fully repaired or replaced if you need to make a claim, and you can return to your chosen jeweller for services.
To find out how affordable specialised watch insurance can be, get an instant online quote today, and insure your new watch before you even walk it out of the store.