Executive Chronicles | 3 Things to Consider Before Buying a Watch | Gone are the days where rich investors put their money in stocks based on oils, renewables and the market economy. In Australia, a new investment trend is on the rise and has been gaining traction within the last several years. From vintage timepieces to chronograph editions like the W Zelezniak watches, Australian watch collectors have been trying to get their hands on rare pieces, some of them so rare that only a few were ever manufactured and sold. For those who haven’t guessed it yet, luxury watches are now the new buzz in the country. The general population might brush this off as some rich guy stuff, but luxury watches are a viable investment for those looking long term. Take a look at what makes luxury watches so valuable:
- According to what basic economics portrays regarding goods and demand, the rarer an item is, the more valuable it will be for those who recognise its worth. As mentioned before, luxury watches are rare enough, and this rarity makes them priceless.
- The material used in manufacturing isn’t some cheap metal one may find when rummaging in a scrapyard. The cost of a luxury watch also takes into account the precious metal and stones embedded in it. Gold, silver, and platinum are among the metals used in making these timepieces, with gems and stones affixed on them to add to their design value.
- When paying for such a watch, people also pay for the status and the name that follows it. Certain watches are known for their handcrafted designs, and others are so intricately manufactured right down to their minute details. All this adds to the brand value, which many people around Australia are more than willing to pay for.
- Luxury watches gain value over time, and the rarer the piece is, the higher it’ll climb in its market value.
Speaking of a market that isn’t completely driven by the general public, the luxury watches industry still managed to reach a total market value of about 542 million dollars. The market is expected to grow significantly in the coming years, owing to the growing popularity of these timepieces throughout Australia.
What Are the Things to Consider Before Buying a Luxury Watch?
Looking for a luxury watch to add to the already growing list of investments? Or maybe it’s the first time, and one might want to learn the ropes of how the market for these classic timepieces work? Looking for a luxury piece isn’t as simple as one might think, whatever the case may be. For starters, consider these basic things first:
- Most watches are operated mechanically that doesn’t use quartz-based mechanics, and with mechanical parts, the need for regular maintenance services also comes along with it. But there’s no need to let the price be a disappointment, for these mechanical watches tend to last for decades if properly looked after.
- Next up is the material, and gold is the first choice for many Australian watch collectors. Titanium is also a common material but not as common as stainless steel, which costs less. Ceramic materials are also available, but they aren’t as popular.
- The presence of a large number of features is what separates many luxury watches from each other. Some may be mechanical, while others can be automatic. Chronographic sets like W Zelezniak watches are also popular, but that all depends on an individual’s taste. Other features include time zones, beacons and many special applications for specific professions.
Go for brands that have the reputation and internationally recognised craftsmanship but above all, choose a piece that matches the personal style. Remember, people can say a lot about a person by the type of watch they wear.
Author’s bio: Ester Adams is a farmer of words in the field of creativity. She is an experienced independent content writer with a demonstrated history of working in the writing and editing industry. She is a multi-niche content chef who loves cooking new things.