Watch ownership is a distinct privilege, and one which many of us get to enjoy regardless our financial circumstances. Some have the spare scratch to invest in a collection of watches, either to wear or to display; others receive sentimentally-valuable timepieces from relatives, to protect and cherish until the next generation.
Whatever your own circumstances, and whatever you find yourself in possession of, an important consideration arises with respect to the value of that which you possess – and how that value may have changed over time. Why should you take the time to revalue the watches in your possession?
Why is it important to get your watch valued in the first place?
But first, why should you bother getting your watch valued in the first place? If you’ve directly invested in the watches in your ownership, this is a key step to protecting your investment; if not, it’s useful to know nonetheless. For one, you’ll want to ensure that you can insure it properly; without a proper valuation, the insurance coverage you do take out might not cover the full cost of replacement or repair.
For another, If you ever plan to sell your watch or pass it down as an inheritance, a current valuation will give you a much clearer idea of its market value – enabling you to either set a fair price for sale or ensure that your heirs are aware of its worth. Finally, a valuation can be a useful way to verify the authenticity of your watch, if it is a luxury- or name-brand timepiece.
Why is it important to get your watch revalued?
Even after obtaining an initial valuation, it’s important to get your watch revalued regularly. There are a few key reasons for this, the most important of which is the fluctuation of value that can occur within watch markets. When looking at the used market for legacy brands like Rolex, it’s easy to see the shifts in value over time as consumer demands shift; these same shifts impact the value of watches in your ownership.
It’s also possible that your watch’s condition changes over time, whether through regular use or accidental damage. These changes could negatively impact the value of your watch, and you’re better off knowing for sure than not knowing at all.
Why do some watches appreciate and others don’t?
Some watches benefit extremely positively from market shifts over time, and can appreciate considerably in value. However, not all watches are created equal, and some are far less likely to appreciate in value over time than others. Brand prestige is one of the more important factors in this, where watches from renowned brands like the aforementioned Rolex appreciate in value thanks to their name recognition, quality and limited production. Outside of brand, rarity is another key driver for value appreciation; limited-edition watches simply tend to appreciate more than mass-produced models.
