Some people are not particular with their watches while others place great importance on them. To some, wearing a watch may be useful and to others, it’s a fashion statement that can also make you feel a sense of status. Sometimes wearing a designer watch is the difference between wearing clothes and wearing an outfit. These days, watches aren’t so much about telling time as they are about giving people insight into your personality and lifestyle.
Due to this, many people are very selective when it comes to picking out a watch to add to their collection. When they want to buy a new watch, many people prefer to buy something of high quality because a luxury watch isn’t just a fashion accessory anymore, it can also be an investment. When you buy a luxury watch, make sure you choose something that will keep its value as the years go on. Some watches retain their value while others tend to depreciate. So, why do some watches hold their values and others don’t? Here are some reasons why:
- Rarity
Watches that are limited edition likely cost more but they are more likely to retain their value over time. Many people are interested in limited edition watches either for the status of owning one or for the promise of a higher markup in the future when they try to resell it. Rare comic books can sometimes be marked up at incredibly high prices due to their age and the same can be said for some rare and limited edition watches.
- Purpose-built watches
Watches that are intricately designed for a purpose tend to hold their value compared to general-purpose watches. For example, a watch like the Rolex Submariner can cost more because of its unique features. The rare and heritage feel of a submariner is what draws people to it.
- Watch brand
No matter how beautiful the design of the watch is, its value will depreciate if it is not from a luxury brand. Why do you think luxury brands cost more? The brand’s reputation can greatly impact the future value of a watch. For example, a Rolex watch will remain high value regardless of its model. It also pays to invest in a watch from a new brand because it might be worth nothing now but if the brand becomes successful, you can benefit from it in the future.
- Celebrity owned
Certain watches have a higher value than others simply because they are owned by a popular celebrity. An Omega watch owned by Elvis Presley sold for $1.8 million which makes it the most expensive Omega watch being sold at an auction.
- Unique look
A watch with a unique look is likely to grow its value in the future. These are those watches with designs that are not normally offered by that certain manufacturer. A watch with an unusual design will be worth a lot in future years.
Get your luxury watch and express your individuality and uniqueness while making sure that your investment will grow its value in the future. If you’re looking for a watch come see us to at USA Jewelry in Woodbridge, VA.