Collecting luxury watches is a popular hobby for many and a form of investment for some. Nowadays, most people are including luxury watches as valuable assets in their portfolios. They realize that the value of timeless timepieces can appreciate over time if they adopt a strategic approach in maintaining them. Here are some insightful tips collectors can follow to preserve the watch value.
1. Regular Maintenance
Every luxury watch needs proper maintenance for it to continue running accurately and maintain its value. A well-maintained watch can reward you handsomely when you decide to sell it or pass it down to the next generation.
Luxury watch brands often suggest getting your watch serviced every three to five years. However, this can depend on the brand, model & usage. Maintenance involves cleaning, oiling, and adjusting. The intention is to prevent soil, perspiration, and dust from ruining the internal components, preserving the watch’s exterior condition and performance.
During servicing, the watch’s inner workings are carefully examined for any potential issues, the possibility of worn-out parts being replaced to avoid any severe damage.
2. Wear with Caution
Luxury watches are designed to withstand everyday usage. However, they aren’t indestructible. Be aware of situations that could potentially harm your watch. Activities that involve heavy vibrations, magnetic fields, or potential shocks, such as golfing, mountain biking, or even manual labor, should be avoided while wearing your watch.
Your watch should also be kept away from substances like perfumes, chlorine, or household cleaning products.
3. Understanding Water Resistance
Most luxury timepieces come with a degree of water resistance. Still, it is important to understand the proper usage guidelines. For instance, a watch with a water-resistance rating of 30 meters isn’t intended for swimming or bathing. These activities can subject the watch to a greater amount of pressure than it’s rated for, leading to potential leakage. The best practice is to remove your watch before any water activities to ensure there are no accidents.
4. Proper Storage
How a watch is stored can significantly affect its value over time. Each watch in your collection should be kept in a dedicated space. For daily wears, consider a good-quality watch box. For those occasionally worn, a watch winder is recommended. For long-term storage, consider a humidity-controlled safe.
Different materials require different storage conditions. For instance, leather bands should be kept in a moisture-free environment to prevent drying out and cracking.
5. Documentation & Original Packaging
One sure way to preserve or even increase the value of your watch is by keeping all its paperwork intact. The box, the user manual, the guarantee/warranty card, and the purchase receipt are significant considerations in the value of a watch.
In the event of servicing, be sure to keep all receipts of watch maintenance and replacements because they add credibility to the watch’s history, helping raise its resale value.
6. Accurate Valuations
Whether collecting as a hobby or investment, it is crucial to regularly value your collection. It helps in keeping track of the current market value. Accurate valuations also help ensure your collection is correctly insured against theft or damage.
7. Expert Consultation
Getting advice from professionals is crucial. Watch and auction houses have experts who can provide useful insights and guidance regarding watch collection. This serves to protect and increase the value of your collection.
8. Consider Insurance
Consider insuring your watch collection. Watches are tiny, portable, and valuable – an appealing target for thieves. Investing in watch insurance will give you peace of mind knowing your timepieces are covered should anything unforeseen occur.
9. Avoid Unnecessary Modifications
Altering the originality of a watch can significantly reduce its value. Engraving names, initials or messages, replacing original parts with non-branded ones, adding diamonds or gemstones, or polishing the watch frequently can deplete its worth.
In summary, preserving the value of your watch requires knowledge, patience, and commitment. Adopting the highlighted strategies will help maintain its value, increasing its potential resale value, and presenting you as a reputable collector. Remember, each watch has a story to tell, and how you preserve its value affects how its tale unfolds in the future.
