In today’s watch market, deciding on your next timepiece can feel like navigating a maze of choices. Prospective buyers will often ask, “What watch should I buy?” expecting a straightforward response. However, the reality is far more complex, with a multitude of factors to consider. From budget limitations to individual style preferences and brand affiliations, the decision-making process can seem overwhelming. This article will provide a guide into the essential aspects of buying a watch and hopefully, guide your choice.
Budget
While many people respond “I don’t have a budget”, when asked about their spending limit, setting one is important when shopping for a watch. Watches come in a range of prices, from as low as £1 to millions of pounds, setting a budget helps provide direction in your decision-making. It’s important to note that price doesn’t always equate to quality; there are many great watches available at lower price points. By setting a budget, you can narrow down your options and focus on finding a timepiece that offers the best value within your financial means.
Style & Purpose
Another crucial factor to consider when choosing a watch is its intended purpose. Whether for sports, daily wear, or making a statement, there’s a watch to suit every occasion. While many watches serve multiple purposes, determining the primary use of the watch is essential. In addition, understanding this purpose will also guide your choice of materials. For instance, an all-gold watch may not be suitable for active sports, while a plastic watch may not be appropriate for formal events. If you cant decide on one material, many watches come with interchangeable straps, allowing you to adapt it to various occasions.
As well as materials, the size of your watch is important. Rolex watches range from 28mm to 44mm, whilst Cartier offer models between 25 – 45mm. With a wide range of sizes available, finding a watch that fits your wrist is important for both comfort and aesthetics.
Brand
When buying a watch, the brand is also important to consider. There are hundreds of options out there and the best way to narrow them down is by considering your budget as this will determine which brands offer models in that range. Next you must consider what you are looking for out of a watch. There are brands recognised for their status whilst others are known for their masterful craftmanship. It is important to consider what the brand offers you as a customer. This can range from quick repair services to what the brands represent.
Investment Pieces
Luxury watches are increasingly viewed as promising investment opportunities, with recent industry reports forecasting the global luxury watch market to reach a value of $9.3 billion by 2026. As the industry expands, so too does the potential investment value of watches. However, it’s important to acknowledge the risks associated with any investment.
While brands like Rolex, Patek Philippe, and Audemars Piguet are known for their investment value, the watch market’s volatility means that values can fluctuate unpredictably. Some watches once overlooked have surged in value. These watches are nicknamed “sleeper hits,” a term popularized by watch enthusiast John Mayer. Notable examples include the Paul Newman Daytona’s and the Rolex Daytona “John Mayer”. Conversely, a high retail price doesn’t always make a watch good for investment. Brands like Franck Muller, command high retail prices but fetch considerably lower prices on the grey market.
In conclusion, the process of buying a watch is more than just selecting a timekeeping device. It’s an exploration of many different components. Before buying your next watch, consider factors such as budget, style, purpose, brand, and investment potential. While the watch market may seem daunting, considering these factors will make your decision easier. A watch is more than just an accessory; its a reflection of the individual and a way of life. Choose wisely!