“Time is money, so I went and bought a Rolex.” – Wiz Khalifa. Here are four drool-worthy watches you wish you could afford.
In the past 10 years, more women have started to take an interest in luxury watches. But if you’re spending a huge amount of money on a timepiece, it only makes sense that you do everything you can to make sure that you get your money’s worth.
Here are some things you should consider when buying luxury watches:
- How much will the watch depreciate after you wear it out of the authorised dealer? If the depreciation is anywhere between 5%-20%, it’s a fair investment, if it’s more than 40%, reevaluate your purchase if you are looking to invest long term.
- How much will it cost to service? Always service your watch when the time comes. It is the difference between a 50% appreciation and a 100%++ appreciation depending on the age, rarity, and demand, of course.
- When purchasing pre-owned watches, always request for box and papers. Personally, if the seller doesn’t have the box and or papers of initial purchase I’d walk away from the deal—these make a huge difference when you try to make a profit later.
- Keep in mind that luxury watches rarely appreciate as soon as they’re released into the market, as with all things vintage, they take years and years to appreciate in value.
So, with those tips in mind, here are good investment pieces that both you and your man can enjoy and take turns wearing.
1. Rolex GMT Master
First launched in 1954, this was initially designed for travelers, especially pilots so they could keep track of two different time zones. The initial watches only offered stainless steel, but today Rolex churns out these beautiful timepieces in two-tone gold as well as solid gold.
Their prices start at around SG$11,000 and go up to a staggering $43,000. But keep in mind servicing for Rolex watches start around the $1000 mark. In due time this particular Rolex line-up will definitely appreciate in value.
2. Omega Speedmaster Professional, The Man on the Moon
One of the most recognisable watches in the world, the Omega Speedmaster has over a thousand variations, but the one you should be paying attention to is the hesalite version, which most resembles the watch worn to the moon on the Apollo Missions.
The historic role that this watch played in the space race is what makes it a collectible timepiece that will appreciate in value in the long run. These watches have been known to touch appreciation rates of 1000%+ due to the high demand and scarcity of pieces in mint or good condition. Prices start at around SG$6,500 and go up to SG$20,000, depending on the variation and precious metal used.
3. Rolex Daytona
In 2017, the Rolex Daytona Paul Newman worn by Paul Newman sold at auction for a staggering US$17,000,000. However, that appreciation was solely based on the fact that it was worn and owned by one of the world’s greatest racing legends.
Initially designed as a racing watch, the timepiece is now enjoyed by men and women worldwide. Daytonas have been known to appreciate more rapidly than a few other Rolexes. Prices start at around SG$16,000 and reach all the way up to approximately SG$101,000.
4. Patek Philippe Aquanaut
This luxury dive watch with a sporty and dress watch-like appearance has looks that could make a grown man cry tears of joy. Enthusiasts call a watch of this caliber a “grail watch”.
You don’t have to wait long for these luxury watches to appreciate. The Aquanaut starts at around SG$25,000 and get as expensive as a few hundred thousand dollars. Servicing will be expensive, but this is more of an asset than it is an accessory.
The mentioned luxury watches are all between 40-44mm in diameter, giving it a very comfortable unisex appeal. Aside from these four, there are other significant luxury watches which hold their value really well and even appreciate. With these things in mind, you’ll know how to spot a real investment.
We hope you enjoyed reading this article on Luxury Watches. Share your thoughts with us in the comment box below.
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