Four Considerations When Buying A Second Hand Watch
With old watches becoming the new ‘must have’ thing, we reveal the top four things you should consider when buying a pre-owned watch.
Nothing beats a timeless, good quality watch. For men and women, a designer watch is a fashion statement and something many people aspire to own in their lifetime. Compared to brand new watches, second hand watches offer great value for money and are becoming increasingly popular, which is something that’s also being noticed by experts, who believe pre-owned watches will become bigger in comparison to their brand new counterparts in years to come. Typically, second hand watches cost much less, which is a contributing factor to their increasing popularity, providing buyers with the opportunity to choose from a larger range and opt for something more exotic or sought after. There are many benefits to buying a pre-owned watch, however, there are also some important things you need to bear in mind. In this blog, we outline the top four considerations when buying a second hand watch to help those of you who are still toying with the idea, so you can make a final decision once and for all. To find out more, just continue reading.
1. The fakes
The pre-owned watch business has grown in success, particularly over the last few years, so it’s no surprise that it’s attracted its fair share of con men who are using this to their advantage, preying on the vulnerable by selling fake versions of designer watches. The amount of fake watches being sold on the market is astonishingly high, so much so that experts believe there are more counterfeits of some watch models than genuine ones. You may think it would be easy to spot a genuine from a fake, however, you are wrong. Some fake designs are so convincing now that even trained watchmakers can find it tough to differentiate the good from the bad.
2. More fragile
Much like classic cars, older watches are more fragile than newer versions. As a result, they will need to be looked after. The older the watch, the more care it needs. When buying a second hand watch, you’ll need to factor in the time required to ensure a certified watchmaker services your watch to ensure it runs perfectly and lasts a lifetime. Without proper care, your watch will lose its value over time, which will be problematic for you should you ever wish to resell your second hand watch in the future.
3. Be aware of depreciation
With second hand watches, depreciation can be your friend. Brand new watches depreciate the second you take them home, however, pre-owned watches have already depreciated to their near maximum by the time you buy them. The sting of depreciation is much less with pre-owned watches. Understanding depreciation and how much you are saving by buying a second hand watch is important, so you can be sure the price you are paying or willing to pay is reasonable and fair. Plus, if your second hand watch is classed as an antique, then its value will likely increase over time and could eventually be sold for more than a brand would.
4. Papers and certificates
It’s surprising if a brand new watch doesn’t come with printed papers and certificates to prove its authenticity. The same can’t be said for second hand watches, however. Although some do come complete with papers and certificates, they aren’t always a given. If you have your eyes on a pre-owned watch that’s being sold without the supporting paperwork, then this may sway your decision, as you run the risk of buying a fake. For watches being sold with papers and certificates, be prepared to pay more, as more often than not these watches are pricier than those without. While accompanying paperwork is not essential for some buyers, it is crucial for others, particularly serious collectors.
There are definitely positives and negatives when it comes to buying a second hand watch. For some, the pros outweigh the cons and vice versa. Overall, pre-owned watches, when genuine, can save people hundreds of pounds and, in some cases, are just as good as their brand new counterparts. If you’re unsure as to whether or not a second hand watch is right for you, then we hope you found this blog useful.
Take these things into consideration when weighing up your options and we’re sure you’ll make the right decision for you. Remember, we’re always on hand to help at Tiktoo; as people with a passion for new and old watches, we can utilise our experience to provide you with sound advice. To get in touch with us, call us on 0203 883 9439 or click here to fill in our online contact form.