How can you know when it's the best time to buy a watch? Read this article to find out!
For several years, I've been writing for the luxury watch industry, and I'm often asked a common question. “When is the best time to buy a watch?”
This question usually comes from hesitant enthusiasts. They might consider factors that an impulsive buyer wouldn't.
They might think about what the industry says about trends. They might explore whether certain watches are “hot” at the moment or which model might be appreciated.
This strategy cannot be condemned. Sometimes a cautious and attentive approach to collecting luxury watches is important when you're parting with a substantial amount of money.
After all, the industry is constantly fluctuating, and trends come and go. Buying a watch without thinking about its potential to increase in value is simply unwise. Right?
On the other hand, some enthusiasts strongly disagree with this. They would say that if you love watches, you should buy them no matter what, because they make you happy. Therefore, you shouldn't purchase watches solely as an investment (unless you love them too sincerely!).
When is the Best Time to Buy a Watch?
Obviously, there are two types of luxury watch collectors. Those who buy with their heart and those who buy with their head.
I don't believe one strategy is better than the other. There are valid reasons for buying luxury watches in both cases.
- A) Because it's a carefully considered purchase.
- B) Because it's something you genuinely want to wear.
When asked, “When is the best time to buy a watch?” - my answer largely depends on who I'm talking to.
Does the person want to save a dollar or two? Or are they considering watches as an investment opportunity for themselves?
When to Buy a Watch
If you're deciding when to buy a watch, you should ask yourself a few questions.
Are you figuring out whether to buy a watch to sell it in a few years?
Are you wondering if the style of the watch will look good on you in ten years? Or are you considering grabbing a watch that will soon be discontinued while you have the chance and selling it immediately?
The main concern for all collectors is whether our new purchase will lose value after we've invested in it. Will it retain its value and be worth something in the coming years? Are we overpaying or underpaying for the watch? Or will the watch drastically drop in price as soon as we buy it?
The Best Time to Buy Luxury Watches - What the Market Tells Us
Much of the decision-making process about when is the best time to buy luxury watches comes down to the market.
Take, for example, a situation where Rolex hints that it might discontinue a watch. A collector rushes to acquire it, knowing that in the pre-owned market, its price will only rise.
Suddenly, the collector becomes the owner of the hottest investment on the market.
They wear what other collectors can no longer get their hands on. Instead, they wait in line for a new version of these Rolex watches, and that line is long. That's how the market works.
When there's demand for a particular style of watch, collectors pay a premium for them. Are these the watches they necessarily want? Not always. The purchase is strategic, aimed at getting a good profit later.
Buying “hot” watches is another way to own the “Grail”!
Many enthusiasts buy watches as an investment to acquire their eternal timepiece. For example, Panerai watches made of pure gold might not be to your taste. But you've seen that they sell very well in the pre-owned market, and you've found a good price on them.
You buy the watch and sell it to an enthusiastic collector willing to pay more for it. Now you can afford your grail watch, and everyone is happy!
Every collector has their own understanding of when to buy a watch. As I've said, if you love watches enough, you'll buy them anyway.
Maybe you've realized what's missing from your collection. Perhaps you're discussing a new complication and how it will fit into your collection.
When to Buy a Watch: What to Consider
According to common opinion, there is no best time to buy a watch. It all depends on what you're looking for.
While some retailers lower prices in January or during “Black Friday,” that's not something to be proud of. After Christmas, you might also get a 10% discount on a watch. But that's not going to affect how and when you add to your collection.
When You Find a Good Dealer on the Gray Market
Price reductions on watches often occur due to old stock being picked up by gray market dealers. They then sell them at the lowest price.
Ashford and Jomashop are two examples of gray market dealers. Ashford, for instance, buys old stock from retailers and sells them much cheaper, albeit without the manufacturer's warranty.
When You Spot a Good Deal in the Pre-Owned Market
However, the greatest savings can be found in the secondary watch market. Here, you can find hidden gems of the watch world when no one else is looking. Original Patek Philippe Nautilus watches and gold Rolex Sky-Dweller watches can cost over $30,000 in the pre-owned market.
But while everyone is chasing these sports watches, it's the perfect time to invest in something rarer!
Buy yourself a vintage Patek that only you and a few other collectors are looking at right now. There's every chance it will soon be sold at a good price.
When You See a Collectible Vintage Model
For elite collectors, the appeal of buying vintage watches also lies in other factors. Enthusiasts are thrilled by features that were once defined in history as “manufacturer's errors.”
They love the allure of faded bezels and the patina acquired over time in vintage collectible watches. Despite the fact that technology has advanced far in the modern world, many believe that the charm of vintage watches lies in their aged character.
So when is the best time to buy a watch? If you follow the “see it - buy it” principle, then now!
But if you're not inclined to obsess over watches, it's better to wait. Perhaps you'll take your time until you settle on something you like and want. And really, either of these approaches is quite acceptable!
What Kind of Buyer Are You?
As I've said, you can determine the timing of a watch purchase based on what kind of buyer you are.
Do you want to sell the watch for more than you paid for it? If so, prepare to spend a lot of patience and effort on this process. Keep in mind that this might take away part of the enjoyment from the process!
Of course, if you belong to this type of buyer, you're likely not going to want to wear the watch. A big scratch or dent on the case will ruin your plans for making a good profit.
Similarly, you might be the buyer who is looking for an everyday watch. The missing piece of the puzzle is in your watch puzzle. The process of finding such a watch might take a little more time.
You might spend three months studying the market and waiting for the best moment to buy. In this case, you're likely to get exactly what you want without any compromises.
Many collectors also love to meet and discuss which watches they want to acquire next and why. This gives enthusiasts the opportunity to voice their preferences and understand what others are aiming for.
The main thing that can be said for sure. If you don't love watches, you won't be able to determine the best time to buy them. Part of the skill and enjoyment of buying watches is learning on the go.
What worked? What decisions led to losing money? Maybe, in some cases, you did it too late?
Concluding Thoughts
If you've found a watch that you instantly fell in love with, now is the time to buy it. In reality, there's no such thing as a bad time to buy a watch. This is especially true if you're ready to make room for it in your collection. (If not, do you really need it?)
However, some collectors prefer to shop cautiously and study the market before parting with their money.
Market trends are an intuitive way to decide what and why you'll buy next. Good research will tell you what sells well and where you should invest your money at the moment.
If you want to make money in the market, strategic buying and selling is key. The right choice can bring you a grail watch sooner than you think!
Ideally, of course, you should find a balance. Choose what you enjoy wearing but at the same time what holds value. Above all, buy what you like.
What’s your strategy for adding to your collection? Do you buy with your heart or your head? Leave your comments in our Telegram channel!