Buying a Luxury Watch? Read our Expert Guide First
Luxury watches are not only a sound financial investment (we’ll go into the historic watch market success), but they also are solid accessories for those who like the finer things in life. But what are the benefits of buying a luxury watch, and how do you decide on the right one?
A luxury watch is a status piece.
A luxury watch is an investment.
In the high-end watch market, there are some truly beautiful pieces of jewellery that can be worn and enjoyed on a daily basis (or kept in a safe or bank deposit). Not only are they a pleasure to look at and worn, but they can also be passed down from generation to generation, as in most cases they increase in value, becoming a cherished family heirloom and a value reserve.
They are associated with prestige and wealth and wearing a luxury watch is one way to show off your success and lifestyle. It’s also a great conversation starter and a way to make a lasting impression on others, whether you’re on a date, or networking in your professional life.
Luxury watches often come equipped with a wide array of features such as chronographs, moon phases, and tourbillons – unlike other cheaper timepieces on the market. These features add to the functionality and sophistication of the watch, making it not only a fashion statement but also a unique tool. Because luxury watches are made with the highest quality materials such as precious metals and gems, they are a sound investment that is not likely to lose value over time.
If you’re thinking about buying a luxury watch, keep these points in mind. And be sure to read our guide on how to choose the right one for you, below.
What Are the Benefits of Buying a Luxury Watch?
We don’t want to bang on about the same points here, especially the benefits to buying a luxury watch. First and foremost, a luxury watch is an investment. Over time, watches have appreciated in value more than most other types of luxury items. The luxury watch market has outperformed the Precious Metals Market, the UK House Price Index and both the S&P 500, and the FTSE 100 in the past 5 years according to data from LuxeWatches.
As we mentioned in the intro, a luxury watch is also a status symbol. It shows that you are successful and can afford to purchase the best of the best. It also indicates that you appreciate quality and craftsmanship. For those trying to showcase their wealth and status, a watch is a great purchase.
Finally, a luxury watch is a piece of art. It is a work of engineering and design that can be appreciated for its beauty and craftsmanship.
History of Watch Investments and Its Fluctuations
Watches have been a popular investment choice for many years.
Over the years, the watch market has seen its share of highs and lows. In the early 2000s, luxury watches were in high demand and prices were at an all-time high. However, the market crashed in 2008, leading to a significant depreciation in the value of watches.
Recently, however, the watch market has seen a resurgence. Prices are on the rise again and demand is high. As a result, now is a good time to invest in a luxury watch.
Comparing the Top Luxury Watch Brands
When it comes to luxury watches, there are a few brands that stand out from the rest, most of which you’ll have heard of.
Brands like Audemars Piguet, Cartier, Rolex, Breitling, Omega, and Patek Philippe are some of the most well-known and respected brands in the luxury watch market. They all offer high-quality watches that are sure to impress.
Each brand has its own unique selling points. AP is known for its complex movements, Cartier is known for its elegant designs, Rolex is known for its durability and quality, Breitling and Bell & Ross are known for their aviation-inspired watches, Omega is known for its sporty designs, and Patek Philippe is known for its luxurious finishes – a wide variation in both look and feel alongside price points.
So how do you choose which brand is right for you? It all comes down to personal preference, so here are a couple of questions to ask yourself:
- Do you want a classic design or something more modern?
- Do you want a watch that can withstand everyday wear and tear or one that is more suited for special occasions?
- What is my budget?
- What kind of yield am I looking for from my watch in the long term?
- Do you want a sporty or a dressy watch?
Once you have answered these questions, you will be able to narrow down your choices to a few specific brands.
Below we’ve looked at some of the highest-voted watches, which may give you a little more inspiration when looking for a watch.
Choosing the Right Type of Luxury Watch for You
As we’ve just alluded to, there are many different types of luxury watches on the market, and it can be difficult to decide which one is right for you. Here are a few things to keep in mind when making your decision:
Your budget: Luxury watches can range in price from a few thousand dollars to tens of thousands of dollars. It’s important to set a budget before you start shopping so that you don’t end up spending more than you can afford.
The style of the watch: Luxury watches come in all sorts of styles, from classic and sophisticated to modern and sporty. Think about the style of clothing you typically wear and choose a watch that will complement it.
The features you want: Luxury watches come with all sorts of features, from date displays to GPS tracking or it could be the movements or art style – there are watches out there with an Astronomical theme that are mapped to the solar system’s movements (Midnight Planétarium Watch). Think about which features are most important to you and make sure the watch you choose has them.
Yield: What are you looking for in your investment? Some brands historically do better than others and although it’s impossible to predict future market movements, there are some pretty consistent movers in the watch market when it comes to brands, you can use this data to base your decision.
Wear type: Do you want this for a special occasion or are you looking for an everyday timepiece, if so you need to think about the durability and sturdiness alongside the maintenance needed to keep a luxury watch on all day, every day. A major consideration in our book.
Recommended Watches for 2023
If you’re looking for the best luxury watch to buy in 2022, look no further. We’ve compiled a list of the top watches from around the web, based on awards and expert reviews.
Our top pick for the best luxury watch of 2022 is the Rolex Daytona. This classic watch has been a favourite among luxury watch aficionados for decades, and it shows no signs of slowing down. The Daytona is perfect for those who want a sophisticated and timeless watch that will never go out of style it’s also designed to meet the demands of professional racing drivers so is super durable.
We also love the look of this Light Blue Rolex Day Date 40
If you’re looking for something a little more modern, the Omega Seamaster is a great option. This watch is sleek and stylish, and it’s been designed to withstand even the most extreme conditions. Whether you’re an adventurous traveller or an avid diver, the Seamaster is sure to meet your needs.
No matter what your budget or style preferences are, there’s sure to be a luxury watch on this list that’s perfect for you. So go ahead and treat yourself to one of these beautiful timepieces – you deserve it!
Popular Questions About Buying a Luxury Watch Answered
We get a lot of questions about buying luxury watches, so we thought we’d answer some of the most popular ones.
What are the benefits of buying a luxury watch?
There are a few benefits to buying a luxury watch. Firstly, they hold their value really well and can even appreciate in value over time. Secondly, they’re built to last a lifetime and often come with a warranty. Finally, they just look really damn good on your wrist!
What are the best luxury watch brands?
There are a few different ways to answer this question. In terms of history and prestige, brands like Patek Philippe and Rolex are hard to beat. If you’re looking for cutting-edge design, then brands like Hublot and Richard Mille are worth checking out. And if you want the best bang for your buck, then Omega is always a safe bet.
What is the best luxury watch for me?
The best luxury watch for you is the one that fits your budget, your style, and your needs. Do your research and try to find a brand that you connect with. Once you’ve found a few contenders, head to a store and try them on for size. And don’t forget to ask the salesperson loads of questions!
Whether you’re in the market for your first luxury watch or are looking to upgrade your current timepiece, this guide will help you make an informed decision. We’ll discuss the benefits of owning a luxury watch, explore the historic watch investment market, and compare the top 5 luxury watch brands. We’ll also make recommendations on the best watches to buy in 2022, based on awards from around the web.