The Pros And Cons Of Buying Pre-owned Luxury Watches
Throughout the last century, luxury watches have been the ultimate go-to accessory for fashionable men. They are expensive items, especially brand new, so many will go down the pre-owned route instead. In my latest blog post, I will examine the pros and cons of buying a used luxury watch. Continue reading to find out more.
Luxury timepieces have always been a sign of status and even wealth, often given as gifts to show appreciation for exceptional service. Due to the allure of high-priced Swiss watches, many people may purchase them as an investment item (similar to gold, silver and jewels).
In the following points, I will weigh the pros and cons so you can decide what is the right choice for you.
Pros
Cost Savings
Buying a pre-owned watch will almost always cost you significantly less than a brand-new model (unless it is a rare piece with a limited run). I have personally acquired a Swiss watch on the second-hand market (however, it was authenticated by a leading retailer to confirm legitimacy).
Large Selection
There are numerous top brands available such as pre-owned Rolex watches, allowing you a far more extensive choice, especially as some pieces have been discontinued or have a long waiting list to buy new.
Discounted And Limited Edition Models Available
The second-hand market allows you another opportunity to grab models that had a very short run or even limited edition (however, even used may cost a pretty penny!). You will have to do some hunting if you have your heart set on a rare watch, especially as they will be sought-after investment pieces.
Investment Value
Pre-owned may be the right choice if you select a luxury watch for future investment, as the initial outlay will be much lower. Even so, be aware that a wristwatch may have had multiple owners, so make sure to determine its history so future buyers will feel safe and secure that it is genuine and came from good homes.
Cons
Condition And Authenticity
One of the major concerns of buying a second-hand watch is the risk that it is not a genuine item or its overall condition. Always buy from a reputable seller who can prove authenticity and has high praise in the industry. If you are purchasing a second-hand piece, it will naturally have wear and tear (most notably on the casing and strap), but even so, it is crucial the internal mechanism is in good working order.
Limited Warranty Coverage
Second-hand models will rarely have any form of warranty (especially from a private seller), so if the watch develops a fault, you will need to cover the costs yourself. However, some reputable second-hand stores will give you a guarantee, so shop around to provide yourself with peace of mind.
Limited Availability Of New Models
With each passing year, as with all things, luxury watches continually upgrade and improve their parts, styles and designs. As such, if you opt for second-hand, the latest watch you have eyed up may not be readily available, and you will need to play the long waiting game.
Personalisation And Owner History
Unlike other high-priced items, a luxury watch is very personal; if you buy second-hand, it can be more difficult to learn the ownership past. A Swiss automatic watch is something owners will like to hand down in their will as an heirloom, therefore documenting its entire history for the next generations ahead (if it is new, then it means it’s only ever been in that family, which itself is a priceless element).
Summary
Buying a luxury watch is not something you take lightly; whether buying new or second-hand, you will need time to consider all the options. What are your thoughts on buying a second-hand watch? Have you done so before, or is it something you plan to do in the future? Let me know your plans in the comments, by email, or even by social media.
