Nowadays, the matter of wearing a fine timepiece is a passion. Wearing a luxury watch improves your status, makes you look smarter, and stand out from the crowd. However, investing a new out-of-the-box luxury watch can affect your finances to a great extent. Rather than purchasing a brand-new watch, you can buy a second-hand watch.
Advantages of Buying a Pre-Owned Watch
No matter whether it is Patek, Rolex, Hublot, Panerai, Omega, or any other luxury brand, you can choose from the wide collection of used watches in Singapore. The list of reasons that makes investment in pre-owned watches a beneficial choice includes
Value
Depending on the condition, the pre-owned watches often come at a lower price. In case the watch is vintage, there are chances that it might be a bit expensive as it is more desirable. However, in case you are planning to buy an item that is new as well as the market price has also not increased, then a used watch is a better option. As soon as a new piece is taken out of the store, the price drops. Just because the watch is new, it doesn’t mean that you cannot find it second hand.
Choices
Another advantage of buying a used watch is the increased selection. Buying a new watch limits you to the current models; however, the pre-owned market provides you a vast array of models. You get the opportunity to choose from all the collections, exclusive or limited, new and vintage. The endless choices make you buy the perfect piece.
Quality and Durability
The luxury watches are made to last. Therefore, buying a pre-owned watch must a definite consideration. In case a watch is cared for as well as maintained, then it could remain in great condition for decades. This means that even if a watch is second hand, it can look new and cost less.
Avoid Depreciation
Just like other new things you buy, there would be an initial depreciation of the watch. This can range from a hundred dollars to thousand dollars according to the price of the watch you are purchasing and how valuable this is in the pre-owned market. In case you buy a second-hand watch, you can avoid the initial depreciation that often happens in the starting years of ownership.
Vintage Appeal
In case you like the vintage look buying a pre-owned watch is a good choice. Rather than purchasing a brand-new watch that has been styled to give a vintage look, buying an original vintage watch is the right choice. No doubt your colleagues would be asking where you got that fabulous piece and you can tell than an exciting tale.
Apart from these, buying used watches can make a great investment to put your money in something that would increase in value over time. While it is not true of each second-hand luxury watch, some rare watches can function as an investment that tends to rise value over the years. You can choose to keep it and pass down to your children or sell the watch at profit. This type of investment much take some effort and research, however, it can be rewarding.
Things to Consider While Investing in a Pre-Owned Watch
The classic as well as iconic designs have not changed much over the years. Therefore, investing in a pre-owned watch makes a lot of sense. However, before you purchase a luxury piece from the pre-owned watches in Singapore, it is important to pay attention to some key aspects
Know What You Are Purchasing
Second-hand watches can be contemporary, vintage or discontinued. Contemporary watches are the one that is current models and are easily available at authorized retailers. Whereas the vintage watches refer to the ones that are usually around 30 years old. And the timepieces that are no longer offered by the brand and are not 30 years old are known as discontinued models. Choose the timepiece that suits your budget and choice.
Box & Paper
Paying attention to the box as well as papers is quite important. The watches available original papers and boxes hold better value. There are some owners who do not care much about these things and leave them at the dealers at less price. In case you like that vary watch and the price is also right, you might decide to buy it without the accessories. However, before you buy a watch ensure you get a box for it that is durable and keep it safe.
Service History
In case the watch is one or two years old, service history might not seem important. However, it is important to ask for the invoice. Since servicing mechanical watches would cost a bit, the chances are very less that the owner discarded the document. In case no invoice exists, accept that watch has not had the service overhaul. It is advised to calculate the cost of service yourself and add that cost to the price of the watch and decided if it is still worth it.
Authenticity
Due to the replicas available in the market, it has become a bit difficult to buy the originally used luxury watches in Singapore. Only trained experts or watchmakers can differentiate between the original watches and replicas. So many watches have the parts that are replaced with the non-authentic parts. In case the authenticity of the watch is not guaranteed, then buying the piece is not a good idea.
Scratches & Dents
The major thing that requires utmost attention is the scratches as well as dents. Not all watches are suitable for daily use. Moreover, there are people who put their new watches in the safe and never look at them again. And the watch that has been worn out would get tiny hairline scratches and even an occasional dent. In case the watch has a deep scratch or multiple dents, ask yourself, what type of bump or shock it could have received.
If you have checked to see that all the functions of the watch work, you might decide to buy it. However, before buying keep in mind that the damages might go deeper than the ones visible on the surface. Apart from the scratches, do not forget to check the signs of corrosion.