With few exceptions, the moment you step out of a boutique, that beautiful, new, and technically amazing piece of art you’ve just strapped to your wrist loses most of its monetary value. While it is possible to find brands and models that retain value better than others, and occasionally find those attracting incredible demand, earning any notable return usually requires extensive knowledge and years in the game, not to mention perfect market conditions.
If that doesn’t deter you from the idea of a watch as an investment, then you’ll need to know the best ways to reduce risk and maximize gains, which may or may not be financial (more on that in a bit).
The most important question to ask yourself when buying a watch is simple. Does the watch speak to you? There are tons of expensive watch brands out there which might get the hype but don’t speak to you necessarily. This should go without saying, but it’s sometimes overlooked in the watch world, where purchases are too often informed by hype. If a watch truly speaks to you, then your satisfaction will never wane, regardless of what the market does.
Now, after you’ve answered the most important question and you think you’ve found the one, it’s time to do your homework, which should be exhaustive. I mean exhaustive. With untold amounts of money and (hopefully) years of memorable moments on the line, you need to be sure you’re buying a watch you enjoy wearing and you’re paying a fair price. Watch all the videos, read all the articles—you’re already in a great place for those!—and try the watch on in person.
While this all leads to a point that inevitably triggers some collectors, the point remains. One of the best ways you can find the right piece and even try it on in person is to build solid relationships. That’s not to say you should play complicated games or offer up your spouse to land your grail. By building a relationship with an established and respected dealer, whether in the new market or the secondary market, you can get a little guidance on watches that best hold their value or deliver the best chances of gains. But you also greatly reduce your risk of paying too much or finding yourself with a fake.
So what’s to be gained if not money? The answer is in the very nature of watches: your measure of time. Many are the collectors with a twinkle in their eye as they tell the story of the watch they wore at their wedding, during the birth of their child, or as they first trekked alone through the streets of Mexico (Spongebob Spinnaker Hull Diver anyone?).
Whether purchasing a watch to celebrate a milestone or wearing one during your most treasured memories, an investment in a watch will provide the best returns when seen as an investment in your own joy. And a 2017 quote from Warren Buffett sums this up perfectly: “Ultimately, there’s one investment that supersedes all others: Invest in yourself.”
