With 401(k) losing their value and stocks plummeting like a malfunctioning rollercoaster the last thing on most people's minds is deciding whether or not to invest in a luxury timepiece. However, history of this unique collectible category has proven that fine watches are a resilient, timeless investment - even in difficult markets such as the one we are currently experiencing.
With 401(k) losing their value and stocks plummeting like a malfunctioning rollercoaster the last thing on most people's minds is deciding whether or not to invest in a luxury timepiece. However, history of this unique collectible category has proven that fine watches are a resilient, timeless investment - even in difficult markets such as the one we are currently experiencing.
What it may be a GOOD time to buy a luxury watch
It should come as no surprise that the fine watch world is in the midst of one of the greatest buyer's market in history. People who need cash are willing to part ways with their expensive watches at a fraction of their actual value. However, as we will see, one person's loss can be another's gain.
For the astute buyer (especially those who spend a good amount of time shopping online) there are tremendous bargains to be found in the luxury watch market. Consider that a recent survey by online discount watch websites found that many $10,000 timepieces are currently being sold for $5,000 - and that $5,000 classic Rolex and Piaget watches are regularly being offered for as little as $2,500. It is hard to argue with these kinds of figures, especially given that the quality of the watches coming out of the best companies has remained unchanged.
This is a good time to buy a luxury watch for two reasons. First, if you are a reseller or a collector, the current climate represents an opportunity to make a profit down the road once the economy begins to grow again and individuals have more cash at the disposal. Secondly, if you have ever wanted to possess a prestigious watch - and never had the resources to do so - this may be the best opportunity you ever had to own a magnificent timepiece.
An investment that never goes out of style
Unlike luxury carmakers, who dilute the prestige of the own brand by selling lower-end versions of their cars, every item that comes out of top watch companies represents the pinnacle of excellent performance and design. As a result, there are no "down years" to worry about in terms of makes and models of watches. Every watch released every year is considered a good personal investment - and a show of good taste.
Luxury watches mean investing in the "intangibles"
In addition, there are elements of purchasing a luxury watch that cannot be measured in dollars and cents. For example, wearing a fine Rolex or Tag Heuer watch has the ability to boost one's confidence immensely. It can change the way people see us - as well as the way we present ourselves to others.
Finally, the watch-as-family heirloom tradition is something that is most certainly recession-proof. It does not matter what the current Dow Jones average is when a man hands his fine Rolex watch to his son. It is a rich, emotional transition that makes purchasing a top timepiece all the more attractive.
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