Tips before buying a luxury watch
A new job, a birthday, a first pregnancy. Perhaps you stumbled upon a watch enthusiast's Instagram feed and it whetted your appetite. Or perhaps the sight of your bare wrist inspired you to buy a luxury watch. Whatever the reason, you've decided to make that purchase. But not just any purchase. Not an Apple Watch or a Swatch, but something that requires a significant budget and commitment. How do you choose a luxury watch ? It's more complicated than it seems.
How to buy a luxury watch and choose?
“ There are so many factors to consider when buying a watch, ” warns Paul Boutros, head of the Americas watch division at Phillips. “ Whether you choose vintage or modern, it’s like you’re standing at the foot of Mount Everest when you start your search. ”
Mr. Boutros recommends choosing a brand first, then a model. Both choices require serious research. Reliability is paramount, but it's important to understand that each timepiece has its own unique characteristics. If you're considering an unlikely mix of an outdoorsy yet sophisticated watch, a luxury sports or diving watch might be the perfect fit. If you're more of a glamorous type, a women's watch with a profusion of diamonds might be more "functional." If your personal signature is timeless chic, the Cartier Tank collection is for you.
Omega's Speedmaster , on the other hand, "kind of pigeonholes you as someone who loves watches," says Adam Craniotes, co-founder of RedBar. The Speedmaster was the watch worn by astronauts during NASA's Apollo 11 mission. It's often cited as one of the best and most beautiful luxury watches. It was also worn by astronauts during the later Apollo 13 mission, a fact highlighted in Ron Howard's 1995 film "Apollo 13. " This is President Biden's watch. Ultimately, choosing your luxury watch comes down to individual preference.
The best luxury watch brands
But even if you choose a timepiece from the best Swiss watchmaking houses, such as Rolex , Audemars Piguet, Patek Philippe, Omega, Vacheron Constantin watches, you cannot always make your choice without understanding the particular workings of the watchmaking world. For example, one cannot simply walk into any authorized dealer and walk out with the most popular models, including the Rolex Submariner or a Rolex Daytona watch, the Patek Philippe Nautilus and the Audemars Piguet Royal Oak.
A combination of carefully engineered shortages and logistical imperatives makes stainless steel sports watches nearly impossible to obtain immediately. Waiting lists are epic and are reserved for those with a relationship with the house or store. “ If you don’t have a history of buying from them, you just write your name down. They don’t put you on the list, ” Craniotes said. Demand for these desirable timepieces has exploded on the secondary (resale) market. That’s why buying a pre-owned luxury watch is attractive , aside from the price.
Be realistic
“ If you have any doubts, don’t buy, ” warns Cara Barrett, a former Hodinkee editor and founder of Parchie. “ It’s like a pair of shoes that are a little too small. You’ll never wear them. ”
To confidently decide which watch will suit you best, Barrett suggests asking yourself a few questions, such as:
- What is your budget?
- Do you want to wear it every day?
- Are you active?
These questions may seem silly, but thoughtful answers will help you narrow down your search. Being able to clearly explain your needs to watchmakers will also help them advise you.
Barrett also recommends considering your work environment before purchasing—that is, do you work in an office and, if so, what's the culture like? This is key to determining whether you should go for a flashy or more understated model .
If you hunt for bargains, you'll probably get ripped off.
Don't look for the best deal. Be wary of shady networks. If you're buying on eBay or from a seller with an unreputable reputation, Google the model and reference number and check what reputable dealers charge. Credible fake watches aren't that common, but models that have been damaged, serviced, or repaired with new parts (which can depreciate their value) are.
Do your research on the seller and verify that the watch is in that person's possession. Craniotes suggests asking for a photo of the watch with today's date on it (extreme, but still effective). " Any legitimate seller will expect this and won't be offended if you have follow-up requests, " he said. " The second you get a funny feeling or the person doesn't respond the way you want, walk away. There's another luxury watch waiting for you. "
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To impress people who love watches, become like them, or buy a fashionable watch
If you want to impress people who love fine watches , get down to their level. Enjoy becoming an expert on complications—those mind-blowing mechanical movements made of tiny gears that are the essence of classic watchmaking. Familiarize yourself with watchmaking celebrities like Aurel Bacs, who founded Phillips in partnership with Bacs & Russo with his wife, Livia Russo.
Alternatively, you can take a shortcut. Mr. Craniotes recommends buying a watch from FP Journe, " the current darling of independent watchmakers ," whose prices start around $16,000 new. Or you can search the pre-owned luxury watch market for limited editions, especially those with complex stories you can recount in social gatherings.
In this regard, the Omega Speedmaster Silver Snoopy Apollo 13 2015 45th Anniversary Special Edition is particularly enviable. It honors the 45th anniversary of the Apollo 13 mission and depicts Snoopy with a speech bubble that reads, " Failure is not an option ," a phrase attributed to Gene Kranz, Apollo 13 flight director. Yet, he never said that, contrary to what the film claims.
Buying a luxury watch: thinking about resale never hurts
Even if you plan to pass your watch on to your grandchildren, keep your options open. With that in mind, keep the original papers and authentication box. These will add significant value when reselling . Particularly sought-after watches from houses such as Patek Philippe , Audemars Piguet, and Rolex can have pre-owned values that far exceed their original list price. You can sell a luxury watch to specialty boutiques such as Miller Paris .
Vary the pleasures with a second watch
Congratulations. You've selected your primary luxury watch. Now it's time to branch out. The goal, Barrett says, is to create " different categories within your collection " while still respecting your aesthetic. Maybe that means investing in a dress watch, like a Bulgari Serpenti or a Patek Philippe Twenty 4 with diamonds. Or maybe it's a gold women's watch with an alligator strap that can be swapped for a patent leather or calfskin model to change the mood. Don't be afraid to have fun with your choice of second luxury watch .
