If you are thinking about investing in a luxury watch you’re about to enter a tricky marketplace. With such a rich and varied history there are so many choices out there, which can make choosing the right timepiece for you overwhelmingly confusing. What’s more, especially with today’s ability to shop online, it’s easier than ever to end up with a model that turns out not to be the real thing.
Help is at hand, though. With more than 150 years’ combined experience in revered brands including Rolex, Patek Philippe, Cartier and Jaeger LeCoultre, the experts at David Duggan have put together some simple questions that can get you started on deciding which watch is the right choice for you.
This is a more complex question than it sounds, and the answer will profoundly affect your choice of make and model. Are you simply seeking a timepiece for its fabulous looks? Are you intending the piece as an investment for the future? Do you require specific functionality such as sporting performance or dual zone timekeeping? If you can accurately identify your motivation in seeking a luxury model then that will start to narrow the choices down.
With such a vast array of models and prices on the market it would be so easy to end up spending more than you intended if you get seduced – either by a stunning timepiece or by a pushy salesman. Don’t forget that when you’re setting your budget you also need to research ongoing costs such as insurance and refurbishment. If you are buying a particularly valuable model you may also need to invest in a secure storage facility. These costs add up, so do your research before you set foot in a showroom.
If you want your watch to not only look good but also hold its value then careful choices must be made. Brand including Patek Philippe, Rolex and newer Cartier models tend to hold their value well. But some other brands can start to depreciate dramatically quickly. It’s a good idea to look into this and have some specific brands in mind before you begin your search.
Any precision timepiece is ultimately defined by the movement that powers the watch. This is turn means that the movement you choose can seriously affect your budget. At the lower end of the scale you’re likely to be dealing with quartz or mechanical movements, whilst the greatest makers offer astonishing advanced in chronographs and perpetual calendars. See our guide to watch movements to understand more about these crucial choices.
This is not as silly a question as it may seem. As a general rule, once you move into the higher echelons of the luxury watch arena you’re starting to deal with functionality that requires a considerable amount of user input. If you’re the type of person who loves playing with gadgets then this is a realistic choice. But if you don’t feel confident around technology then a simpler, slightly lower end model might be more realistic to avoid hours of frustration and possible repair bills.
Armed with this information, your next step is to source and speak to a reputable watch dealer with a proven reputation. The David Duggan luxury watch team has more than 150 years’ combined experience in the luxury watch market, and we are members of the British Horological Institute. Why not contact us, or visit our Mayfair showroom? We’ll be happy to give you all the assistance you need in choosing a timepiece you’ll be delighted with for a lifetime.