Is it be better to buy a pre-owned luxury watch or a new one? Just like a new car that loses most of its value the moment you take it home, new luxury watches lose most of their value as well once you buy them. Preowned watches don’t have to be ragged or broken at all. Most of them are in perfect condition, just like new.
The preowned luxury watch market is expanding, and its customers are increasing, but before buying either, new or pre-owned luxury watch, you should know that you have to search for a reputable, authorized luxury watch retailer. Preowned watches have served many owners and maybe was opened multiple times throughout the years. So, there are authorized retailers to screen those preowned watches before making their way into the display cases, not only that but also, there are many experienced watchmakers to go over each part of the watch, assuring that it’s in perfect condition for sale.
Moreover, authorized retailers provide you with a purchase warranty, even if the manufacturer’s warranty is lost, you still get a purchase warranty from the authorized dealers and get your watch checked by experienced watchmakers if any dysfunction occurs. Therefore, doing some research and looking for feedbacks and reputations are essential before buying any luxury watch, especially pre-owned ones as authorized retailers can make buying a luxury watch a comforting, smooth process.
In the pre-owned luxury watch market, it’s possible to find discontinued, vintage timepieces that are so hard to find. However, some watches may have gone through some additional modifications after production that might hurt their original value, such as bezels or diamond dials. A like-new preowned luxury watch is almost identical to the new ones, and even experts cannot tell them apart, but it’s one or two thousand less in price, or even more in some brands.
Therefore, some experts say that a pre-owned luxury watch in perfect condition is better than buying a new, more expensive one and they both are almost identical. But of course, if the difference in price between the new one and the preowned one is not that much, buying a new one is much better. Also, as a result of the difference in prices, reselling the preowned watch won’t cause a dramatic new-to-used loss in value.
Types Of Pre-owned Watches
There are three types of preowned watches:
Vintage pre-owned luxury watches are the ones that are usually at least 30 years old, and those may be very expensive and very fragile, needing continuous maintenance but to some people, owning a vintage luxury watch outweighs all the accompanying negative concerns.
Contemporary luxury watches are the ones that are still produced by manufacturers and still in the retailers’ display cases while discontinued models are those in between, younger than 30 years old but manufacturers stopped their line of production.
Your First Luxury Watch
For your first luxury watch, some experts advise buying a new one, while others advise buying a preowned one, according to your personality. As such luxury watches are a one-lifetime experience, some say that you ought to buy a new watch as it’s going to be yours, your one and only, for several years and even for generations. However, some say that once you buy a luxury watch and get fascinated with the luxury watch world, gaining more experience would change your taste in luxury watches and you may fancy replacing your watch with another one, as mentioned earlier, would cause a much new-to-used loss in value.
What you may really miss buying a pre-owned luxury watch is the manufacturer’s warranty card as it might get lost in the transferring process from an owner to another or as it may contain some personal information, the owner may not want to turn the warranty in. However, via buying from an authorized retailer, nothing will be missed as authorized retailers will provide you with their warranty so that you can get assured that careful maintenance will always be done for your watch.
To buy a pre-owned luxury watch, you need just four rules:
- Authorized retailers;
- A like-new preowned watch;
- A big price difference between the preowned one and the new one;
- The possibility of trading it one day.
On the other hand, buying a new luxury watch is much better when the price difference between the new and pre-owned ones is not that big, and also if you intend to keep your luxury watch for life, being your one and only purchase.