It is easily one of our moved and loved of accessories – the watch. The watch is the ultimate timepiece and they come in different sizes, colours, styles and craftsmanship and like it or not, there is always the question especially concerning our pricier pieces “can my watch be an asset”?
Two men A and B walk into a room, dressed to the nines prepared to pitch before investors to support each one’s latest project but before words are spoken, the assessment has already begun.
Studies have shown that before we speak, people give us a quick up-down assessment of our looks.
Back to misters A and B – both are wearing suits, the right amount of aftershave and shined shoes. However, B is wearing a sleek dress watch, while Mr. A has bare wrists.
Without hearing their full pitches and based on their appearances, who do you think the investors would pick?
It really is not a hard decision, considering that Mr. B made an investment in his self by getting a classic watch.
The man with the right watch looks like he’s in the right place at the right time. A man with time on his wrist passes the subliminal message of being conscious of his actions. He’s the man you want on a job or to invest in his idea as opposed to the guy who walks with a suit and shined shoes.
In the business world, watches are assets that speak volumes about your acumen - When a man with the right timepiece steps into a room, he exudes confidence, a point previously covered in “Why you shouldn’t get a watch”.
Now that you have yourself set for boardroom discussions and high-staked meetings, let’s talk about the other form of asset that watches represent.
Now in the plainest of terms, when we talk about asset, we’re talking about items that one could pawn for a sizeable sum of money, and simple the answer is “yes”.
Now the complicated answer before some of you argue in the negative; in finance, an investment requires putting money into an asset with the expectation of capital appreciation and an asset is a valuable thing.
Unlike the latest gadgets, even that sleek ride you bought yesterday, most likely won’t have a second hand value in the market, regardless of how long you preserve it. However, some watches actually become more valuable as time passes. Luxury watches are considered an investment. This is because watches are never out of trend, they are made under extreme standards down to the simplest of pins and require a skill like no other to accomplish the feat of production, and hence, they are considered assets.
Are watches valuable – yes, but not the everyday, over-the-counter types. Watches that are termed collectible items are the first on the list to be termed as assets followed by heirlooms – watches passed from generation to generation and then our pricy pieces that are maintained.
In 2012, a Patek Philippe in pink gold with a perpetual calendar and moon phases sold for $2.78 million at a Christie’s auction in Geneva, Switzerland, but guess what in 2007, it sold for $2.28 million. But if you want to be blown away by figures, check this out – A Patek Philippe supercomplication pocket watch beat its own record at an auction. In 1999, it became the most expensive watch sold at $11 million but move a few years forward to 2004, the watch still maintained its most expensive watch title with a $24 million price tag to its name.
First, you have to know what kind of buyer you are – a trend follower, an investor, a collector or a watch fan – the best category is a between investor and collector, because you combine an eye for quality with a taste of making returns on investments.
You also have to have a capacity for trading.
For your pricier and brand pieces like Rolexes and Patek Phillipés, it’s important that you properly maintain them for posterity. No one is going make quality money on a worn timepiece.
Service them regularly, insure your watch, replace crystals and maintain bezels. Keep your watch in prime condition and watch the value pile up.
Watches are assets both for the monetary value maintained excellent pieces can accrue over time as well as subliminal gesture they convey among people in business circles. Don’t lazy back and miss out on the latest trend today, invest yourself in a watch today.