The age-old principle that any investor holds is that a deal should give a healthy return. The same applies when you are buying watches ? whether you are a savvy trader or a devoted watch lover. Although the return can be intangible as well as tangible, a smart shopper will know that it is always good to punch the numbers on your calculator before swiping your plastic.
First, decide how big a budget you can allocate for your investment, advises Mr Rolf Schnyder, President of Ulysse Nardin, a Swiss watch brand that is more than 150 years old.
What to Look for
Here?s a checklist:
Accuracy: How well does the watch keep time?
Functions: Do they fit in with your lifestyle?
Brand status: Will you impress your clients with the brand on your wrist?
Aesthetics: Are you wowed by the design of the watch?
Craftsmanship: What is the quality of the watch finishing? If there are gemstones, are they of superior quality?
Budget: How much are you willing to pay?
Know What You Want
Fashion watches: Bold and trendy in design, they feature colourful materials, straps and even gemstones.
Sports watches: These generally come with the chronograph function for measuring short intervals of time. They may include an alarm, an illuminator, water resistance, and added shock resistance.
Mechanical watches: A favourite with serious watch collectors, these keep time by using energy or power from a wound spring.
Jewellery watches: Typically dressed in 18K gold and set with gemstones on the watchcase, bezel or dial, these lavish pieces can cost millions of dollars.
Then conduct research on the timepieces that you are interested in. Surf good watch websites such as www.timezone.com for information and to communicate with other watch enthusiasts. Read auction books to find out how much certain timepieces were sold for.
Just remember, cautions Mr Schnyder, that there is no guarantee a timepiece will increase in value. ?At the end of the day, the final price will always be on a willing-buyer, willing-seller basis,? he says.
Mr David Lau, owner and founder of watch shop Precious Time, advises: ?A starting price can help to indicate the brand status of a watch and its workmanship quality. It also helps to set realistic expectations before each purchase.?
Before you reach for your credit card, Mr Ong Ban, executive vice-president of the Fine Watch & Lifestyle Watch Division of Sincere Watch, says you should also be clear about why you want the watch: Is it for wear or for keeps?
?When buying a watch to wear, the most important thing to consider is how it would suit your personality and your lifestyle. Watches bought for investment, on the other hand, are generally rare and expensive. Such watches are extremely limited in production, and usually have a gestation or cocooning period of up to 70 years before the value of the watch truly appreciates.?
Whatever your motivation is, it is critical to stay within your budget. ?If you have allocated a budget for your watch, then you should not blow it on a piece that you cannot afford,? says Mr Ong.
Mr Schnyder agrees. ?Don?t just buy a watch for its brand name. It is better to invest in something exclusive, and because you really like it.?
As Mr Lau succinctly puts it: ?A good watch should be a statement you want to make for yourself.?
Jessey Beh is a freelance writer.
Where to buy your watches
A watch purchase can be a simple and uncomplicated process for consumers who know what they want and where they can purchase their watches from. For the less initiated, watch retailers such as Precious Time, The Hour Glass, Sincere Watch and Cortina Watch are homegrown companies that are filling in the information gaps for consumers.
The first tip is to purchase only from an authorised watch company, to ensure that each piece is authentic and comes protected with a warranty or a certificate from the manufacturer.
A watch purchase can be a simple and uncomplicated process for consumers who know what they want and where they can purchase their watches from. For the less initiated, watch retailers such as Precious Time, The Hour Glass, Sincere Watch and Cortina Watch are homegrown companies that are filling in the information gaps for consumers.
The second tip, according to Ms Irene Ang, marketing manager of Precious Time, is to ?start with what appeals to you?. Some people prefer the features in a watch, others appreciate its aesthetics.
?At the end of the day, you buy what you like and what you enjoy. Many people think buying a watch is like making an investment, but it is not. It?only the rare and very unique pieces that can possibly give some returns or appreciation in monetary value," said Ms Ang.
