How to Buy a Luxury Watch Guide: What should I expect to pay and get within each range?
Welcome to part three of our three post series. These posts discuss various aspects of Watches! Part one was an introduction to watch terminology that you will come across when shopping for a luxury watch. Part two was a little bit more about you and what types of watches you might want to go for. Part three discusses the costs and what you should get for you money!
While luxury watches can be a major financial investment, with many of them easily costing as much as a car, the key word is investment. Carefully chosen, a high-calibre watch will retain its value over the years and may even gain value. Even entry-level watches are exceptionally high in quality and only get better as the prices rise.
Hundreds of Pounds
Watches at the lower end of the price scale are available for just a few hundred pounds. Brands in this range include watches from respected makers such as Tag Heuer, Raymond Weil and Longines, amongst others. At this entry-level price point you'll get a basic watch that looks great, performs well and has a well-crafted case and attention to detail in the manufacture.
Thousands of Pounds
The majority of highly desirable watches cost several thousands of pounds and move up in terms of style and quality from their lower-priced cousins. A Rolex watch such as the classically styled Submariner falls into this category and price range. Expect finely handcrafted mechanical movements with sophisticated complications that add functionality as well as appearance. At the top end of this price range, you'll find limited editions and special commemorative editions, the rarity of which makes them more highly sought after. In turn, this scarcity helps these luxury watches to hold their value over the years.
Tens of Thousands of Pounds
When you're paying ten thousand pounds or more for a watch, you should be looking for precious metals, a rarity value in terms of limited or special editions or other features such as refined movements or complications.
Twenty Thousand Pounds and More
Some watches cost millions of pounds. Patek Philippe makes some of the world's most expensive watches, with the Platinum World Time selling at auction for over £2.5 million in 2002. Even that pales into comparison to Chopard's diamond-encrusted watch that has a price tag of over £16 million.. Precious metals such as gold and platinum help to elevate watches into this price range, but the prestige, craft, skill and development of the manufacturer must also be taken into account.
Many Rolex watches fall into this price range of twenty thousand pounds or more, including rare examples such as the Comex Submariner or the Daytona Paul Newman. These can easily fetch around sixty thousand pounds at auction.
The price range in the luxury watches market is extremely wide, with deciding factors in purchasing relying on taste and budget. When you buy a luxury watch, regardless of the price point you start at, from entry level to most expensive, you are assured of a top-quality item you'll treasure for years to come.
So there you have it, if you need to know more then please do give us a call, it may be that we can help you with the funding for your new luxury watch by purchasing your old one!
