Pre Owned or New Watch - Which is the Right Choice for You?
The world of high end watches is filled with different brands and models, but deciding which brand you should buy isn’t the only decision you need to make when purchasing a luxury watch. Read this blog to discover the pros and cons of purchasing pre owned and brand new watches.
Purchasing a luxury watch is an exciting investment, whether you are a first timer, a collector, or you just fancy a new piece to spice up your wardrobe, but it is also a big financial commitment that shouldn’t be taken lightly.
It is important to never go into purchasing a luxury watch blindly, and you should always research and review what factors are important to you to help influence your decision. One major aspect of purchasing a luxury watch, be it for investment, or just to enjoy yourself, is if you should purchase brand new or pre owned. This decision lays the foundations of which watch you should purchase, and should be carefully considered before you invest.
First things first, whether you are purchasing pre owned or new, ensure that you are always using a trusted retailer. Research your retailer - read reviews, check out social media, and check whether the watches are genuine. Sometimes, when buying a pre owned watch, a deal can sound too good to be true - and that usually means that it is. Check out our marketplace to view our range of genuine, pre owned high end watches from Rolex to Breitling and much more.
Lasting Legacy or Brand New?
We all know how exciting it can be to tear into a brand new phone, or drive away from the dealership in your shiny brand new car, but luxury watches are a different ballgame.
A pre owned luxury watch can be rich in history, with its own stories to tell, maybe adorning the wrists of a famous face or two. This could divide the market, you may love the idea of a watch with a history, or you may want to make your own mark on your new watch. Consider this before investing in a luxury watch.
The Risk of Depreciation
Much like buying a brand new car, the moment you take your brand new high end watch out of the store, it immediately begins to lose value. The thrill of your new purchase may outweigh the cost of depreciation to you, however, if you purchase a pre owned model, you are giving yourself a buffer against the risk of depreciation, as the most dramatic drop in value will happen when a watch is brand new.
A More Modest Budget
It is always important to take your budget into consideration, whether you are purchasing a brand new or a pre owned watch. Make sure to research the recommended retail prices of your chosen model, and work your budget around this.
Purchasing pre owned could allow a more modest budget to stretch further, meaning that Patek Philippe you’ve been lusting after may not be too far away afterall.
Often, high end watch brands release unique limited edition models, longed for by horologists worldwide. If you have got your eye on a new release with a limited run, this could be a great time to purchase a brand new watch.
On the other hand, buying pre owned could allow you to get your hands on limited edition releases of the past. Keep a close eye on our marketplace to watch out for rare models before they get snapped up.
Return on Investment
You may or may not want to sell your watch in the future, but the potential return on your investment is always a plus point to keep in mind when spending on a high ticket item. Research your watch models to get an insight into their potential future value.
The Rolex Submariner Date, for example, is one of the best watches to purchase for a return on your investment. This is one of the rare models you could purchase and sell on years later for the same price you paid, or even more! If you’re a collector, this is a major point to consider before adding to your collection.
Got your eye on a particular brand or model? Search our marketplace to view our range of luxury watches today.