From a practical perspective, all watches are the same. They all tell time, and they’re an important part of everyday life, especially for those who want to always be on schedule. But it doesn’t mean that buying an expensive watch is a bad idea.
For one, expensive watches are built with higher quality materials, and they can last a long time. They’re also very reliable and are highly accurate when it comes to keeping time.
Luxury watches are also a status symbol. It shows other people that you can afford to buy a good quality watch. For others, it shows that they can appreciate good craftsmanship.
If you’re planning on buying an expensive watch, but you’re still not 100% sure you want to do it, then here are some useful tips!
What counts as an ‘expensive’ watch?
When it comes to watches, we can split them into low tier, mid tier, and high tier.
Here are some examples:
Low tier (US$500-2,000)
Good brands here are Citizen, Hamilton, or Oris.
For example, the Citizen Womens Stainless Steel Watch below costs about US$562.50
Mid tier (USS$2,000-20,000)
Mid tier brands are more expensive, but you’re really paying for the craftsmanship, the brand, and the metals and gemstones used in the timepiece.
Notable brands include Dior, Bulgari, and Chanel. A great example is the Chiffre Rouge below which costs roughly US$4,000.
High tier (US$20,000 – above)
For those looking to splurge, or who want to invest in a high-tier watch, then the brands to look out for are Rolex, Cartier, Hublot, and Omega.
A great looking watch that’s worth the expense is the Cartier Tank Anglaise, which costs about US$25,000.
Buying an expensive watch: Some things to keep in mind
The first thing to consider is that buying a luxury watch is much like buying a car. Even if it’s a well-made timepiece, you would still have to get it serviced some time in the future. Which means that there’s an additional cost involved.
On average, a good quality ladies’ luxury watch would set you back about US$500. The cost of servicing said watch will set you back about US$150-500.
Automatic watches are usually cheaper to service, while ones with chronograph and more complicated mechanisms can cost more.
Are you going to wear it everyday?
Another thing to consider is that if you’re going to be wearing it everyday, or only on special occasions. A good watch, if worn everyday, will eventually have tiny dings and scratches, and suffer from the wear and tear of daily use. That means you might have to get it serviced more often.
But if you’re fine with that, then you shouldn’t worry about buying an expensive watch.
Set a budget and stick to it!
Another thing to consider is that you will need to set a budget for yourself and not just splurge on a watch.
Remember, you have to be financially responsible, so you’ll need to set aside money for your daily needs, your savings, bills and other expenses, before you could even start thinking about buying a watch.
On the low end of the spectrum, a good quality watch would cost about US$500. A high-end watch could easily cost 100 times as much, so that’s another thing to consider.
But whatever your budget, make sure to stick to it. It’ll save you from money troubles and overspending down the road.
Some luxury watches appreciate in value
One thing that you also need to remember is that some luxury watches do appreciate in value.
This means that buying a luxury watch can be considered an investment, albeit one that you can wear on your wrist.
High-end brands such as Rolex, and Patek Philippe are good investments since they are quality brands. When you buy a Rolex, even if it’s a used one, you can be sure of the value that the watch will have.
Rolex and Patek Philippe watches also use high-end materials which appreciate in value. A gold watch for example, would increase in value as compared to a silver watch as the price of gold increases.
Vintage watches that are rare and in good condition also fare well in terms of value since collectors are always interested in classic models.
Luxury watches last longer
You can also consider luxury watches as precious family heirlooms. Much like jewelry, you can pass down your watch to your daughter, who can then pass it to your granddaughter and so on.
That’s because luxury watches are crafted at a high quality, and use precious stones and metals that ensure that with proper care and maintenance, your watch will last lifetimes.
It’s a great way to start a lovely tradition, and it brings a lot of cherished memories to your descendants.
Am I better off with a cheaper watch?
For the practical woman who wants to save up for the future, then a luxury watch might not be the best purchase. You would be better off investing your money on something else, or even going on a vacation.
After all, a US$50 watch can essentially do the same thing as a US$5000 one, albeit the more expensive watch will look better and is more reliable.
However, if you feel that you have some money to spare, or you really want to give yourself a gift, then, by all means, you should buy a luxury watch.
The additional cost is worth it since more expensive watches are made by expert craftsmen. Some brands also offer limited warranties that you can take advantage of.
You really do get what you pay for when it comes to watches.
But keep in mind that as with anything, you should buy only within your means. Having a good looking watch isn’t worth the expense if it means that you’ll be struggling to make ends meet afterwards.
So, have you decided on whether or not you’ll be buying an expensive watch?
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