A Comprehensive Guide To Buying a Pre-Owned Luxury Watch
Disclaimer 1: I hope you find this guide very helpful, but I cannot take any responsibility for any outcomes related to your purchase(s) as a result of you referring to this material. Please do your due diligence and trust your gut!
Disclaimer 2: Unless otherwise noted, any links I provide are for additional context or information only. I receive no compensation for these links, and a link does not imply endorsement of the link destination.
Table of Contents
1. The Appeal of Luxury Watches
2. Important definitions: “Pre-owned” watches, “vintage” watches, and “neo-vintage” watches
3. The Benefits of Skipping the Boutique: Buying Pre-Owned
3.1 Cost savings and value retention
3.2 Access to rare and discontinued models
3.3 Wide selection and availability
3.4 Immediate availability
3.5 Potential investment opportunities
4. Risks and Considerations in Buying Pre-Owned Luxury Watches
4.1 Authenticity and verification challenges
4.2 Understanding the condition and service history
4.3 Evaluating fair pricing and avoiding overpaying
5. Navigating the pre-owned luxury watch market
5.1 Online platforms and auctions
5.2 Certified pre-owned dealers
5.3 Private sellers and peer-to-peer marketplaces
5.4 Local watch shops and consignment stores
6. Negotiating and making the purchase
6.1 Strategies for effective negotiation
6.2 Ensuring secure and trustworthy transactions
6.3 Understanding warranty and after-sales service
7. Caring for, and maintaining, your new (to you!) luxury watch
7.1 Cleaning and proper maintenance practices
7.2 Servicing and repairing luxury watches
7.3 Insurance considerations for luxury watches
Appendix A: Glossary of watch terminology
Appendix B: Suggested checklist for purchasing a pre-owned luxury watch
Appendix C: Frequently Asked Questions about buying a pre-owned luxury watch
1. The Appeal of Luxury Watches
Luxury watches have always held a unique place in the world of fashion and style. These accessories go far beyond their practical functionality, representing, for instance refined taste, exquisite craftsmanship, and an associated level of status.
First and foremost, luxury watches are a testament to human ingenuity. The attention to detail and precision involved in creating these timepieces is amazing, whether you consider watches made essentially by hand in the 18th century, or industrially today with the help of cutting-edge science and technology.
Indeed, from the intricate movements to the exquisite dials and cases, every aspect of a luxury watch is carefully designed and finished to perfection. Owning a luxury watch allows one to appreciate the workmanship and dedication that goes into creating these mechanical marvels.
Secondly, luxury watches possess a timeless quality that transcends trends and passing fads. They are not simply accessories but heirlooms that can be passed down through generations, and in today’s world, where so much is made to be disposable, it is comforting to know that there is at least one class of goods that was made to outlast you!
The longevity of luxury watches lies in their enduring appeal and classic designs. Whether it's the elegant simplicity of a dress watch or the rugged durability of a dive watch, these timepieces have the ability to remain relevant and visually striking for decades, and in fact they will even look better and better with age as they accompany you on your life’s adventures.
As we’ve seen especially over the last few year’s “hype cycle”, luxury watches serve as a symbol of status and accomplishment; for better or worse they represent the culmination of hard work and success for many individuals. Wearing a luxury watch can be seen as a subtle (not always!) but powerful statement, signifying a refined taste and an appreciation for the finer things in life. It is a badge of honor that speaks volumes about one's achievements and aspirations.
Lastly, the allure of luxury watches is also rooted in the sense of personal connection and emotional attachment they can evoke. Each watch tells a unique story, and owning one can become a source of pride and inspiration. They become more than just timekeeping devices, but rather treasured companions that accompany us through various milestones in life.
This all sounds great, but the underlying thread here is that luxury watches cost money. That is true, they do, and sometimes it’s a lot of money. Thankfully, even though the last few years have brought forth some of the ugliest parts of watch buying, it has also never been easier to buy a second-hand luxury watch.
So no, you won’t find a Rolex for the price of a Timex, but if you do some careful researching, you may save hundreds - even thousands - on your dream watch.
2. Important definitions: “Pre-owned” watches, “vintage” watches, “neo-vintage” watches
Pre-owned watches, vintage watches, and "neo-vintage" watches are terms commonly used in the world of horology to categorize timepieces based on their age, condition, and desirability among collectors and enthusiasts. While they all refer to used/pre-owned watches, there are distinct differences between these categories.
“Pre-owned” watches simply refer to any previously owned timepieces that are being sold or traded. These watches may range from relatively new models to older ones, and their condition can vary greatly depending on how they have been cared for. Pre-owned watches encompass a broad spectrum (including “vintage” and “neo-vintage’” watches), and they can be found across different price ranges and brands, making them accessible to a wide range of buyers.
“Vintage” watches, on the other hand, typically refer to watches that were made during the 1950’s and 1960’s, as this is a specific era that is highly regarded in the watch industry as a high point for classic watch design.
Vintage watches can include iconic models from renowned brands, and their rarity and condition greatly affect their value. These timepieces have gained a certain level of collectability and are sought after by enthusiasts for their historical significance, craftsmanship, and unique design features.
Huge disclaimer here though: The vintage watch market is a viper’s nest of bullshit (yes, bullshit). There would need to be a separate buyer’s guide just to cover vintage watches, and it could span volumes. Unless you are highly experienced in watch buying and have a tolerance for risk, I would steer well away from vintage watches.
"Neo-vintage" watches, also known as contemporary vintage watches, are a more recent category that has emerged as the 1950’s and 1960’s recede further from view.
These watches are newly produced and are generally are still quite robust despite their age (as opposed to vintage watches which often times can’t even go outside in the rain). The commonly accepted definition for a neo-vintage watch is anything that is older than 25 years; anything newer than that would just simply belong in the “pre-owned” category.
3. The Benefits of Skipping the Boutique: Buying pre-owned
Luxury watches have an undeniable appeal that goes beyond their mere functionality, and that appeal has only grown with the rise of social media and its associated “flex culture”. Supply and demand considerations aside, the inherent qualities of craftsmanship and timelessness mean that the price tags that accompany them often make them seem out of reach. Fortunately, purchasing a luxury watch pre-owned can be a smart alternative that offers several advantages over buying new.
3.1 Cost savings and value retention
One of the most compelling reasons to consider buying a luxury watch pre-owned is the significant cost savings it offers. High-end timepieces often come with hefty price tags due to the reputation and complexity involved in their creation.
By purchasing a pre-owned watch, you can avoid paying the premium associated with buying brand new, which includes things like the brand’s marketing and other overhead costs. By letting someone else take the initial depreciation hit, you have access to luxury brands and models that may have been out of reach otherwise, at a price that is much closer to that of “just” the object itself, which can provide very good value-for-money in your wearing experience.
3.2 Access to rare and discontinued models
The world of luxury watches is known for its limited edition and discontinued models, which often become coveted collectibles. Second-hand markets present an excellent opportunity to find these rare timepieces, as they may no longer be available from authorized retailers. Whether it's a sought-after vintage Rolex or an exclusive limited edition Omega, buying second-hand increases the chances of finding a unique watch that stands apart from the crowd.
Keep in mind two very important points here though: while this is an advantage to buying pre-owned, “pre-owned” is not synonymous with “cheaper” in this case. Sometimes, if the limited edition in question flew under the radar, you may get a deal, but other times (much more so now) going to the pre-owned markets means that while you’ll have access to that limited edition timepiece, you’ll likely pay a premium for it.
3.3 Wider selection and availability than at the boutiques
When shopping for luxury watches at authorized retailers, the selection may be limited to current models and popular designs. However, the pre-owned market opens up a world of possibilities, providing a wider range of brands, models, and variations.
Whether you have a particular model in mind or you want to explore different options, buying pre-owned grants you the freedom to choose from a vast array of watches that suit your preferences and style.
3.4 Immediate availability
Buying a luxury watch new from an authorized dealer can sometimes involve long waiting periods, especially for highly sought-after models or limited editions. On the other hand, the pre-owned market allows for immediate availability. As soon as you find the watch you desire, you can complete the purchase and start enjoying your new timepiece without any unnecessary delay.
While this immediate availability is absolutely a benefit of shopping the pre-owned market, keep in mind that if you’re having to resort to this option to procure a watch, you’ll likely be paying a premium. This situation implies that demand is outpacing supply, and you’ll substitute money for time spent on the waiting list (to the extent it actually exists…).
3.5 Potential (again, “potential”, not guaranty) for appreciation
Luxury watches often hold their value well, and in some cases, they can even appreciate over time. While this is not a guarantee and depends on various factors, purchasing a watch from a reputable brand with a proven track record can provide an investment opportunity.
The pre-owned market allows you to shop around and get the best possible price for a given model. While there is no guaranty at all that you will make money on any watch purchase, buying pre-owned means that you can get the best price possible, and hopefully not lose anything (or at least very much) in the event you have to sell it.
4. Risks and Considerations in Buying Pre-Owned Luxury Watches
Despite the numerous advantages to buying pre-owned watches, this is still very much a “buyer beware” market. This does not mean that every seller is out there to steal your money, but it does mean you’ll have a lot more peace of mind (and fun) if you follow certain guidelines.
4.1 Authenticity and verification challenges in buying pre-owned luxury watches
When it comes to purchasing pre-owned luxury watches, one of the most significant concerns for buyers is the authenticity of the timepiece. After all, the excitement of owning a high-end luxury watch can be tarnished by the possibility of ending up with a counterfeit or a replica!
That said, it is crucial to understand and address the authenticity and verification challenges associated with buying pre-owned timepieces.
Unfortunately, the booming market for pre-owned luxury watches has given rise to an influx of counterfeit watches, making it increasingly difficult to ascertain the authenticity of a timepiece. Counterfeiters have become adept at replicating even the finest details of luxury watches, leading to “super-fakes” which make it challenging for all but the most knowledgeable of buyers to differentiate between genuine and fake models.
To mitigate this issue, buyers must educate themselves about the specific brand and model they are interested in purchasing. Learning about the watch's history, features, and distinctive markers can help spot any inconsistencies or irregularities in a potential purchase.
Additionally, studying the manufacturer's stamping, engravings, and serial numbers can provide further clues about the authenticity of the watch.
Another challenge lies in the verification of ownership and documentation associated with pre-owned luxury watches. Without proper documentation, such as the original purchase receipt or warranty card, it becomes arduous to confirm the authenticity and originality of the timepiece (this is even more crucial the higher up the spectrum you go, for instance it is very difficult to sell a Patek Philippe without the full documentation from the factory).
To address these concerns, potential buyers should always request complete documentation as evidence of the watch's authenticity and provenance. These documents should include receipts, certificates, or any other relevant paperwork that demonstrates the watch's legitimacy. Furthermore, buyers can reach out to the respective brand's authorized dealers or service centers to verify the watch's serial number and establish its authenticity.
Occasionally you won’t be able to get everything you might like in terms of paperwork, though that doesn’t have to be a dealbreaker if everything feels “good”. In fact, a solid rule of thumb when buying pre-owned is to trust your gut: if anything at all doesn’t feel right, walk away.
Fortunately, several techniques and resources have emerged to aid in the authentication of pre-owned luxury watches. Nowadays, specialist watchmakers and service centers employ advanced technologies and expert knowledge to examine timepieces carefully. They can scrutinize the movement, case, and other intricate details of a watch to determine its authenticity.
Moreover, online platforms and forums dedicated to watch enthusiasts have become valuable resources where buyers can seek advice or guidance regarding the authenticity of their potential purchase.
Experienced collectors and experts often share their knowledge and experiences in identifying counterfeit watches, helping potential buyers make informed decisions. If you don’t go to watch meetups regularly, this a great reason (besides just the friends you’ll make) to do so, since you’ll build up a trusted network of experts with different points of view and risk tolerances who can help guide you in your purchase decision.
4.2 Understanding the condition and service history of a pre-owned luxury watch
When venturing into the world of pre-owned luxury watches, it is vital to thoroughly understand the condition and service history of the timepiece you are considering.
Unlike purchasing a brand new watch, acquiring a pre-owned piece requires a closer examination to ensure you are making a purchase you won’t regret down the line.
Let's delve into why knowing the condition and service history of a pre-owned luxury watch is crucial before you even think about pulling out your credit card, along with essential factors to consider.
Why condition and service history matter
The condition of a pre-owned luxury watch is directly tied to its value, both aesthetically and mechanically. Scratches, dents, and other visible flaws may be inevitable signs of wear and tear, but excessive damage can affect the watch's resale value and overall appeal.
Additionally, the condition of the watch can indicate how the previous owner cared for it. A well-maintained watch suggests that it received proper servicing and attention throughout its life.
Also, understanding the service history is equally essential. Watches, especially those with intricate movements, require regular maintenance to function optimally.
Service history documentation allows potential buyers to determine if the watch has undergone routine maintenance, including cleaning, lubrication, and necessary repairs.
A complete service history demonstrates that the watch has been properly cared for, reducing the likelihood of unexpected mechanical issues in the future. If a watch has not been serviced in the last 5 to 10 years (ask the seller about this), find out how much the service would cost and you should be able to negotiate most - perhaps all - this amount off the sale price (assuming the seller hasn’t already accounted for this).
Evaluating the Condition
To evaluate the condition of a pre-owned luxury watch, there are several key areas to inspect:
Case and crystal: Examine the case for any significant scratches, chips, dents or signs of polishing (is the case symmetrical? does the finish on one side match the finish on the other? Are the lug widths and profiles the same on all four corners of the case?). Scratches on the crystal can be more noticeable and may affect readability. Minor wear is expected, but extensive damage should be approached with caution.
Dial and hands: Inspect the dial and hands for any discoloration, fading, or damage. Look for consistent and evenly aged luminous material on the hands and hour markers.
Bracelet/Strap: Check the bracelet or strap for signs of stretching, links being loose, or excessive wear. Ensure that all the necessary links are intact and the buckle/clasp functions properly.
Movement: If possible, open the case back to examine the movement. Look for signs of rust, dirt, or any other visible irregularities. While not essential for every buyer, those knowledgeable about movements can identify specific models, serial numbers, or other signs that they are indeed buying what the seller is describing.
Water resistance and seals: Luxury watches often come with water resistance ratings, allowing wearers to use them in various environments. However, over time, seals and gaskets may deteriorate, compromising the watch's waterproofing capabilities. Understanding the service history helps ascertain if these vital components have been maintained and replaced when necessary, ensuring the integrity of the watch's water resistance.
Granted, it may be more or less difficult to evaluate all of these areas, especially if you’re buying on-line, but remember, it never hurts to ask; the only “dumb” questions are the ones you keep to yourself!
4.3 Evaluating fair pricing and avoiding overpaying
Purchasing a pre-owned luxury watch can be an exciting and rewarding experience, but it's essential to evaluate fair pricing before making a decision. Without proper research, it's easy to overpay for a timepiece that may not hold its value or meet your expectations. To help you navigate the pre-owned watch market and make an informed decision, here are some key tips to keep in mind:
Research the brand and model: Understanding the brand and model of the watch you're interested in is crucial. Familiarize yourself with the watch's specifications, its history, and any special or limited edition variations. By having this knowledge, you'll be better equipped to assess its true value in the pre-owned market.
Compare prices: Before making a purchase, compare prices from different sources. Check multiple, reputable dealers, auction websites, and online marketplaces to get an accurate sense of the average price range for the specific watch you desire. Be cautious of unusually low prices, as they may indicate a counterfeit or a watch with hidden flaws; remember, always trust your gut!
Assess condition: The condition of a pre-owned luxury watch greatly affects its value. Carefully examine photographs and descriptions provided by the seller. Look for signs of wear, scratches, dents, or any damage to the bezel, case, bracelet, or crystal. Ask for detailed information about the watch's servicing history and request clarification on any maintenance or repairs it may have undergone. A watch in excellent and well-maintained condition may command a higher price than one in poor condition.
Research market trends: Keep up with current market trends and price fluctuations for the specific watch you're interested in. Certain models may experience spikes or dips in value based on factors such as changes in demand, rarity, or discontinued production. By staying informed, you can negotiate and make purchasing decisions based on market conditions.
Seek professional opinions: If you're uncertain about the fair pricing of a pre-owned luxury watch, seek advice from reputable experts, watch connoisseurs, or experienced watch dealers. Professional opinions can provide valuable insights and help you avoid overpaying for a timepiece. If you don’t feel comfortable walking into a dealer, start attending watch meetups in your area, you’ll find plenty of people who will be more than willing to share their thoughts!
Consider authentication and documentation: Ensure that the watch you're interested in purchasing comes with proper documentation, including original papers, certificates of authenticity, proof of purchase, service records, even the box and other presentation materials. These documents not only authenticate the watch but also help bolster the value of your timepiece should you decide to sell it in the future.
5. Navigating the pre-owned luxury watch market
When it comes to purchasing a pre-owned luxury watch, there are a wide range of options and avenues to explore, each with their own pros and cons.
Whether you're a seasoned collector or a first-time buyer, understanding the various platforms available can greatly influence your purchasing experience.
Each platform has its own advantages and considerations, and it's crucial to conduct thorough research, verify authenticity, and consider factors such as price, warranty, and the reputation of sellers before making a purchase.
5.1 Online platforms and auctions: Convenience and selection
With a few clicks, you can access an extensive inventory of watches from sellers worldwide. Some sellers are reputable, some not as much, so it’s important to balance out the positives with the negatives of going this route.
Pros:
Vast selection: Online platforms provide access to a wide range of luxury watch brands, models, and styles, often featuring rare and discontinued pieces.
Competitive pricing: Due to the large number of sellers, online platforms often offer competitive prices, allowing you to find a better deal compared to traditional brick-and-mortar stores.
Convenience: Shopping online allows you to browse, compare, and purchase watches from the comfort of your home, saving time and effort.
Cons:
Authenticity concerns: While reputable online platforms have stringent authentication processes, the risk of encountering counterfeit or misrepresented watches still exists. It's crucial to research the platform's reputation and consider seller ratings and reviews before making a purchase.
Limited physical inspection: Buying online means relying on photographs and descriptions, which may not fully capture the condition or nuances of a watch. Be sure to request additional images or information if needed.
Auctions: Excitement and potential bargains
Auctions present a unique opportunity to acquire pre-owned luxury watches through competitive bidding. Here are some points to consider:
Pros:
Potential for bargains: Auctions can sometimes yield lower prices compared to traditional retail or online platforms, particularly if there is less demand for a particular watch or if bidding is not competitive.
Rarity and exclusivity: Auctions often feature rare, limited-edition, or vintage timepieces that may not be readily available elsewhere.
Cons:
Competitive nature: Bidding in auctions can be intense, and there's a risk of paying more than you originally intended due to the excitement of the event or competition from other bidders.
Limited inspection time: Prior to placing a bid, you may have limited time to inspect the watch physically, increasing the importance of pre-auction research and due diligence. Recently, some of the larger platforms, looking either to grow their share of the lucrative pre-owned luxury watch market, have started offering inspection services whereby your purchase is sent to their facility first for authentication, then forwarded to you. Usually there is a fee involved, but it is usually nominal relative to your peace of mind.
5.2 Certified pre-owned from dealers or the brands themselves: Assurance and peace of mind
Some luxury watch brands offer certified pre-owned (CPO) programs, providing watches that have been inspected, serviced, and restored by authorized experts.
Pros:
Authenticity and quality assurance: Buying a CPO watch directly from the brand ensures authenticity and gives you confidence in the watch's condition.
Manufacturer Warranty: CPO watches often come with a warranty from the brand, offering peace of mind and after-sales support.
Cons:
Limited selection: Brands may have a smaller inventory of CPO watches compared to what you might find on other platforms.
Higher price range: CPO watches from brands themselves may have higher price tags compared to similar watches on the pre-owned market, considering the additional assurance and warranty provided.
5.3 Private sellers and peer-to-peer marketplaces: Bargaining and building relationships
Engaging with private sellers or utilizing peer-to-peer marketplaces can provide unique opportunities, while also presenting pitfalls.
Pros:
Potential for negotiation: Private sellers may be open to negotiation, allowing you to potentially secure a better deal.
Personal connections: Dealing directly with sellers can lead to building relationships with fellow watch enthusiasts and accessing their expertise.
Cons:
Limited protection: Buying from private sellers or peer-to-peer platforms may lack the buyer protections offered by established online platforms or brand CPO programs (but check your payment processor or credit card, you may find some safeguards if you purchase using them).
Authenticity verification: It's crucial to exercise caution and thoroughly verify the authenticity of the watch and the credibility of the seller.
5.4 Local watch shops and consignment stores: Personalized service and hands-on experience
Brick-and-mortar watch shops and consignment stores offer a more traditional buying experience, but with the possibility of some bargaining.
Pros:
Hands-on inspection: Local shops allow you to physically examine the watch, assess its condition, and try it on before making a purchase.
Personalized assistance: Knowledgeable staff can provide expert guidance, answer your questions, and offer recommendations based on your preferences.
Cons:
Limited selection: Local stores may have a smaller inventory compared to online platforms, potentially limiting your choices.
Potentially higher prices: The overhead costs associated with physical stores may result in higher prices compared to online options. That said, it never hurts to offer a lower price than advertised, especially if you know a watch has been sitting in the case for some time!
6. Negotiating and making the purchase
After thorough research and finding the perfect pre-owned luxury watch, it's time to enter the negotiation and purchasing phases.
By implementing effective negotiation strategies, ensuring secure transactions, and understanding warranty conditions and after-sales service, you can confidently navigate the purchasing phase of buying a pre-owned luxury watch.
These steps will not only help you secure a fair deal but also provide peace of mind knowing that your transaction is secure and that you have the necessary support for any future servicing or warranty-related needs.
6.1 Strategies for effective negotiation
Negotiating the price of a pre-owned luxury watch can be a delicate process. Here are some strategies to help you secure the best possible deal:
Research and market analysis: Before entering negotiations, familiarize yourself with the current market value of the watch you're interested in. Research recent sales of similar models, consider factors such as condition and rarity, and determine a realistic price range.
Set a maximum budget: Establish a budget and determine the maximum amount you're willing to pay for the watch. This will serve as your anchor during negotiations and help you avoid overpaying due to emotional attachment or pressure from the seller.
Highlight points of negotiation: Identify aspects that can be leveraged for negotiation, such as the watch's condition, service history, included accessories, or the seller's urgency to sell. Use these factors to negotiate a fair price that aligns with market value and the specific watch's attributes.
Use polite and respectful communication: Maintain a polite and respectful tone throughout the negotiation process. Building a positive rapport with the seller can increase the chances of reaching a mutually beneficial agreement.
Be prepared to walk away: If the negotiation doesn't yield satisfactory results or the seller's demands exceed your budget, be prepared to walk away. Sometimes, stepping back can open doors to alternative options or motivate the seller to reconsider their terms.
6.2 Ensuring secure and trustworthy transactions
When purchasing a pre-owned luxury watch, it's essential to prioritize safety and trustworthiness above all. Consider the following measures to ensure a secure transaction:
Verify the seller's reputation: Research the seller's reputation by checking their online reviews, ratings, and feedback from previous buyers. Look for established sellers with a history of positive transactions and authentic watches.
Use secure payment methods: Utilize secure payment methods that offer buyer protection, such as escrow services or trusted third-party platforms. These services can help safeguard your funds until the watch's authenticity and condition have been verified.
Authentication and verification: Before finalizing the purchase, ensure the watch's authenticity and condition through reputable authentication services or experts. Request detailed photographs, serial numbers, and original documentation to verify the watch's legitimacy.
Written agreement: Check that the terms of the transaction, including the watch's condition, warranty (if applicable), return policy, and payment details are in writing somewhere for future reference. Both parties should keep a copy for future reference, and make sure never to delete anything you receive via email, text message or chat program.
Meet in a secure location: If conducting an in-person transaction, arrange to meet in a secure and public location, such as a reputable watch shop or near a police station. Avoid meeting in secluded areas or private residences.
6.3 Understanding warranty conditions and after-sales service
When buying a pre-owned luxury watch, it's important to understand the warranty conditions and available after-sales service.
Manufacturer’s warranty: Some luxury watch brands offer warranties for pre-owned watches purchased through their certified pre-owned programs. Familiarize yourself with the brand's warranty policy, including its duration and coverage.
Third-party warranties: In some cases, third-party warranty providers may offer coverage for pre-owned watches. Understand the terms, conditions, and coverage limitations of these warranties, if applicable.
After-sales service: Research the brand's after-sales service policy. Determine if the watch can be serviced or repaired by the brand's authorized service centers or if third-party options are available. Consider the availability of genuine parts and the cost of servicing or repairs.
Return and exchange policies: Understand the seller's return and exchange policies, including any associated fees or conditions. Clarify if you have a grace period to inspect the watch upon receipt and if returns are accepted in case of authenticity or condition disputes.
7. Caring for, and maintaining, your new (to you!) luxury watch
Now that you have taken the leap and acquired your watch from a pre-owned source, it’s yours forever (or at least until you sell it and start the whole cycle all over again…)!
A luxury watch is a thing to be used, absolutely, but not abused. Or, if you are the type to really put your luxury watch through its paces, you should absolutely be taking care of it properly as well.
Here are some guidelines to help your watch outlast you several times, but first a very important disclaimer.
DISCLAIMER: A MECHANICAL WATCH IS AN INHERENTLY DELICATE OBJECT. THE GUIDELINES BELOW ARE SIMPLY THAT - GUIDELINES - SO PLEASE DO NOT TAKE THESE AS EXACT INSTRUCTIONS FOR CARING FOR YOUR WATCH. ALWAYS DO YOUR RESEARCH, SPEAK WITH PROFESSIONALS, AND MAKE SURE TO FOLLOW THE DIRECTIONS FROM THE MANUFACTURER OF YOUR SPECIFIC WATCH.
7.1 Cleaning and proper maintenance practices
Regular cleaning: Gently wipe the watch with a soft microfiber cloth to remove dirt, dust, and fingerprints. Avoid submerging the watch in water unless it is water-resistant.
Protecting from moisture and extreme conditions (i.e. those beyond the manufacturer’s recommendations): Avoid exposing the watch to excessive moisture, extreme temperatures, and strong magnetic fields. If the watch is water-resistant, ensure that the seals are intact and have them tested periodically by a professional.
Storage: Keep the watch in a dry and secure place, away from direct sunlight and extreme temperatures. Consider using a watch winder for automatic watches to keep them wound and running smoothly.
Avoiding chemicals and abrasive materials: Avoid contact with harsh chemicals, solvents, and perfumes that may damage the watch's case, dial, or straps. Additionally, refrain from using abrasive materials or rough surfaces when cleaning the watch.
7.2 Servicing and repairing luxury watches
Regular servicing: Follow the manufacturer's guidelines for servicing intervals, typically every five to ten years. During servicing, a trained watchmaker will inspect, clean, and lubricate the movement, ensuring its accuracy and longevity.
Authorized service centers: Consider servicing your luxury watch at authorized service centers or reputable watchmakers with expertise in luxury timepieces. This ensures that genuine parts and proper techniques are used, preserving the value and authenticity of the watch.
Repairing damages: In case of accidental damage or malfunction, consult a professional watchmaker. Attempting DIY repairs or relying on unauthorized individuals can lead to further complications and potential damage to the watch.
7.3 Insurance considerations for luxury watches
Appraisal and documentation: Obtain a professional appraisal to determine the value of your luxury watch. Keep documentation, including purchase receipts, warranty certificates, and any service or repair records. This information is essential for insurance claims or potential resale.
Insuring your luxury watch: Consider insuring your luxury watch with specialized insurance coverage. Standard homeowners or renters insurance may not adequately cover the full value of your timepiece, especially for high-end luxury watches. Look for insurance providers that offer coverage specifically tailored to luxury watches, considering factors like theft, loss, accidental damage, and worldwide coverage.
Regularly updating coverage: Review your insurance coverage periodically to ensure it reflects the current value of your luxury watch. If you acquire additional watches or make significant upgrades, inform your insurance provider to adjust your coverage accordingly.
Appendix A: Glossary of watch terminology that one might expect to find when looking at pre-owned luxury watch listings
Automatic: A type of mechanical watch movement that winds itself through the natural motion of the wearer's wrist.
Bezel: The outer ring surrounding the watch face, which may be fixed or rotate for various functions like calculating elapsed time.
Bracelet: A metal band or strap that attaches the watch case to the wrist.
Caliber: The specific model or type of movement used in a watch.
Case: The housing that holds the watch movement, dial, and crystal.
Chronograph: A watch with additional stopwatch functionality, typically featuring sub-dials to measure seconds, minutes, and hours.
Chronometer: A certification indicating that a watch has undergone precision tests and meets specific accuracy standards.
Complication: Any additional function or feature beyond basic timekeeping, such as a chronograph, date display, or moon phase indicator.
Crown: The knob on the side of the watch used to set the time, date, and other functions.
Crystal: The transparent cover that protects the watch dial. Common materials include sapphire, mineral glass, and acrylic.
Date window: A small window on the watch dial that displays the current date.
Deployant clasp: A folding clasp used on bracelets that provides a secure and adjustable closure.
Dial: The face of the watch that displays the time, typically with hour markers, numerals, or indices.
Exhibition caseback: A transparent back on the watch case that allows viewing of the movement.
GMT: Short for Greenwich Mean Time, a feature that enables tracking of a second time zone.
Hands: The markers on the watch dial that indicate the hours, minutes, and seconds.
Jewels: Small synthetic gemstones used as bearings in the watch movement to reduce friction.
Lugs: Projections on the watch case that hold the strap or bracelet in place.
Lug width: The distance between the lugs, determining the appropriate strap or bracelet size for the watch.
Manual winding: A type of movement that requires manual winding using the crown to power the watch.
Mechanical: A type of watch movement that relies on a complex system of gears and springs to keep time.
Moon phase: A complication that tracks the phases of the moon.
Movement: The assembly that sits under the dial, which powers the hands and any other complications on the watch. Very generally, movements can be “in-house” if designed and manufactured by one brand only, and “third-party” if they are made by one supplier and sold to multiple brands (common examples of such companies are ETA, Sellita and Soprod).
Perpetual calendar: A complication that automatically adjusts the date, including accounting for leap years.
Power reserve: A measure of how much time is left before a manually wound or automatic watch movement stops running if not worn or wound, displayed in hours or days (the industry standard is now around 70 hours but could be as low as 40 hours or as high as 10 days).
Power reserve indicator: A feature that displays the remaining energy stored in the watch's mainspring.
Quartz: A watch movement powered by a battery and regulated by a quartz crystal.
Rehaut: The inner edge of the watch dial, usually inscribed with markings like brand logos or serial numbers.
Rotating bezel: A bezel that can be rotated to measure elapsed time, typically used in dive watches.
Sapphire: A highly scratch-resistant synthetic crystal commonly used in high-end watches.
Skeleton dial: A dial that has been cut away or partially removed to reveal the inner workings of the movement.
Stainless steel: A common material used for watch cases and bracelets due to its durability and corrosion resistance.
Sub-dial: A smaller dial on the main watch dial used to display additional functions, such as a chronograph or second time zone.
Swiss Made: A designation indicating that part of the watch’s value comes from Switzerland and that it meets certain quality standards.
Tachymeter: A scale on the watch bezel or dial used to measure speed based on time and distance.
Tourbillon: A mechanism that is intended to compensate for the effects of gravity on the movement.
Water resistance: A measure of a watch's ability to withstand water pressure, typically indicated in meters or atmospheres.
Appendix B: Suggested checklist for purchasing a pre-owned luxury watch
Please click the image to bring up the full PDF version of the checklist.
Appendix C: Frequently Asked Questions about buying a pre-owned luxury watch
What is a pre-owned luxury watch?
A pre-owned luxury watch refers to a timepiece that has been previously owned and used by someone else. It is typically a high-end and prestigious brand that retains its value and quality over time, whose models can be serviced indefinitely.
Why should I consider buying a pre-owned luxury watch?
Buying a pre-owned luxury watch can offer significant cost savings compared to purchasing a brand-new timepiece. You can find rare or discontinued models that may not be available in stores anymore, adding to the exclusivity and uniqueness of your collection.
How can I ensure the authenticity of a pre-owned luxury watch?
It's crucial to buy from reputable sources like authorized dealers, established watch retailers, or trusted online platforms. Look for proper documentation, such as original papers, serial numbers, and service history, and consider professional authentication services if you have any doubts.
What condition can I expect a pre-owned luxury watch to be in?
The condition of pre-owned luxury watches can vary. Some may show signs of wear and have minor scratches, while others may be in excellent, almost new condition. Detailed descriptions and high-resolution images should be available to assess the watch's condition before making a purchase.
Are there any warranties when buying a pre-owned luxury watch?
Typically, pre-owned luxury watches do not come with manufacturer warranties, but that may not be the case if you purchase a watch from someone who sold it before the original warranty expired. Reputable sellers often offer their own warranties or guarantees on the authenticity and functionality of the watch. It's important to inquire about any warranty or return policies before finalizing the purchase.
What factors should I consider when choosing a pre-owned luxury watch?
Consider factors such as the brand reputation, model popularity, movement type (e.g., mechanical or quartz), condition, age, rarity, and market value. Your personal preferences and intended use should also guide your decision-making process.
How can I determine the fair market value of a pre-owned luxury watch?
Researching the current market prices for similar models is crucial. Various online platforms and forums provide price guides, and you can also consult professional watch appraisers or experts who can offer valuation services based on market trends and the specific watch's condition.
Can I service a pre-owned luxury watch if needed?
Yes, luxury watch brands usually offer service centers that can repair and maintain pre-owned watches. However, it's essential to consider the availability of spare parts, service costs, and the watch's age before making a purchase.
What payment options are available for purchasing a pre-owned luxury watch?
Payment options vary depending on the seller. Reputable sellers may offer secure online transactions, credit card payments, bank transfers, or financing options. Always ensure that you choose a secure and reliable payment method to protect your investment.
What should I do if I have further questions or concerns about a pre-owned luxury watch?
If you have additional questions or concerns, reach out to the seller or their customer service representatives. Reputable sellers should be responsive and provide you with the information and reassurance you need to make an informed decision.