High-end watches may be perceived as just a means to show off your wealth. What exactly makes it much more expensive than a normal working watch? These watches with heavy price tags attached to them are known to be purchased for their practicality, design, and wealth indicator. Some watches may carry a significant sentimental value and history. However, contrary to popular belief, watches are actually great investments that can build your wealth in the long run. By 2025, the global luxury watch market is predicted to hit a value of $9.3 billion. An investment is defined as the action of purchasing something with the objective to acquire a higher return in the long run. There’s nothing wrong with spending money on something that genuinely contributes to your overall satisfaction and happiness. However, it is best to consider this decision thoroughly. Ensure that you can afford to participate in such activities and benefit you in the future. Sufficient knowledge of the luxury watch industry is recommended if you ever plan to dive into that world. If you’re still unsure whether investing in luxury watches is a good idea, here are some of the reasons why purchasing high-end watches are worth it.
Investing can be a great way to build your wealth
Purchasing high-end watches can be a great financial investment. These types of investments are known to give you a chance of having a greater return value. Over the past ten years, the value of luxury watches has increased up to 60%. With this piece of information, it can be said that watches are great ways to make money. Luxury watches never diminish in value over time, which is because consumer demands for these watches surpass the production rates. Specific brands and model types that are scarce in production are guaranteed to increase in value.
Other than that, the history of each model can also heighten their values. More specifically, in the thriving used market of Rolex watches, most of these watches may have gone through two world wars or have been to the top of Mount Everest. The stories behind these watches can entice potential buyers and move them to spend thousands of dollars to own one of these significant holders of some type of history. It’s always the vintage Rolex, Patel Philippe, or Vacheron Constantin models that have consistently retained or increased in value over a period of time. One example would be the 1968 Rolex Daytona that was owned by Paul Newman, the notable Hollywood celebrity and race car driver. His watch was auctioned off in 2017 at the price of US$17.75 million at the Phillips auction house in New York. Most second-hand luxury watches are also sold off at a price similar to this one.
Buy a watch to commemorate a milestone
Another reason why people are so fond of investing in high-end watches is because of the sense of accomplishment and emotional investment attached to it when they finally own one. Most people reward themselves for their hard work by spending money on jewelry or cars. This may prove the hard work you’ve been putting out since you can finally afford to buy these types of watches. This purchase can celebrate the fact that you’ve persevered and worked hard to surpass the obstacles and hardships you had to overcome to reach this amount of success in your life.
Someone might have graduated, or a couple would be celebrating their 30th anniversary. No matter what occasion, purchasing high-end watches is a great way to symbolize and commemorate this significant milestone in their lives. Besides that, some individuals may even treat the act of buying their own luxury watch as a goal or an entry in their bucket list. Having the chance to own such a prestigious item can be incredibly rewarding in its own way.
High-end watches can become portable assets
Wear your assets on your wrist with a high-end luxury watch. Individuals can now have quick access to one of their assets through this investment. High-end watches are easily sellable in the market, which means that you can gain profit a lot faster compared to other investments. Moreover, you will be able to enjoy all the functionalities that come with the watch every day, and you can still make a profit out of it in the long run. It is best to remember the importance of doing your research in order to make sure that the watches you will be purchasing will actually be a great addition to your assets.
Other than that, high-end watches can also be a great addition to your personal style and image. Watches are the top most worn jewelry for men. It is evident how much of an impact it has on an individual’s outfit and overall appearance. These pieces of jewelry are considered indicators of sophistication and professionalism. In a way, watches can let other people know a smaller part of your overall character as a person.
Pass it down to the next generation
Buying high-end watches and passing them down to your family’s next generations can be your way of leaving a legacy behind once you’re gone. Watches can also hold pieces of your memories and history as a person. These watches tell meaningful stories, and handing them down to your children or great-grandchildren can keep your life’s legacy alive. Watches are made to last quite a while, and most of the time, they won’t need any additional maintenance to preserve their value. Most of these high-end watches are carefully and thoroughly made by the hands of master watchmakers in Switzerland or Italy, where they’ve been using top-quality materials and techniques.
Today, watches like the apple watches and other smartwatches are being popularized because of the advancements in the world’s technologies. Owning an old-fashioned wristwatch is more seen as valuable, especially when it is passed down by generations before you. Then, there is a sense of fulfillment as you can wear watches that signify your legacy. That is why these types of jewelry can become your family’s heirloom that can survive for the next generations to come.
Investing in high-end luxury watches can be a gratifying experience and investment. Though it might be terrifying to enter into this industry as a beginner, thorough research and careful planning can help you successfully build your very own high-end watch collection that can bring you a multitude of benefits in the long run.