Whether you’re looking to invest, wear luxury watches or want to pass on heirlooms to a future generation, your effort to start a watch collection should be strategic. Consider these tips to get started.
Why Do You Want to Start a Watch Collection?
Considering the price of vintage and modern timepieces, you should have a specific goal in mind for starting a luxury watch collection:
- Decide if you will wear the watches. If so, choose pieces that complement your wardrobe and interests. Many collectors begin with a dress watch or two, then expand to include various sports watches and chronographs in different styles.
- Think about your interests. Focus on a specific watch style, such as diving or racing. This approach allows you to research features and related timepieces in detail, becoming more knowledgeable about each one.
- Buy with purpose. Select watches that align with your collection goals. While watches are currently popular investments, they are not like stocks. Avoid spending a lot on something you don’t truly love.
- Avoid following trends. Watches are classic accessories that evolve slowly compared to other areas of fashion. While trends do influence the market, often blending with hype culture, don’t buy a watch solely for its style or novelty appeal.
Do Your Research
Mechanical and automatic watches are rather complex. Each brand comes with its own story, watch collections and models. Whether you’re looking to buy a new classic or something that will appreciate over time, do your research before you begin collecting:
- How have their product lines and specific models performed over the past decade?
- What are the key features of each brand, their product lines and popular watch models?
- Learn how mechanical and automatic watches work, as well as how to care for them.
Thorough, detailed research provides a solid foundation to ensure your watch is priced accurately. It can also give you a long-term estimate of its financial performance and, should you dive into the vintage watch market, help you spot the real deal from a fake.
Your research should further touch upon the elements of basic watch types:
- Dress Watches: As the most visually traditional, dress watches have a relatively straightforward design, complete with a smaller face and leather band.
- Dive Watches: A more technical sport watch, dive designs feature a larger metal base with greater water resistance, a dive bezel, illuminating dial and time-keeping element.
- Racing and Chronograph Watches: Early racing drivers kept their own time, hence the need for a chronograph on their watches. While a chronograph essentially functions as a stopwatch, they tend to have a contrast-heavy design with a watch face angled toward the user and a tachymeter.
- Military-Inspired Watches: The most casual on this list can be divided into subcategories: Authentic military timepieces and newer watches inspired by World War II craftsmanship. All tend to include a durable woven nylon band in green, a large easy-to-read face, illumination and 24-hour time scale.
Establish a Budget
If you’re not mindful, you might splurge all your hard-earned cash on a luxury watch. With this in mind, it’s recommended to create a budget for yourself. Ideally, start lower and increase what you’re willing to spend as you expand your watch collection, get a better sense of the market and earn more income.
Monitor Your Collection
Similar to the stock market, watch values fluctuate. Whether you view them as a long-term investment to be passed down or intend to flip at just the right time, consider the following strategies:
- Continue to research their value. Periodically check market value and take into account the price of steel and other watch components.
- Join a community of other watch enthusiasts. Discuss your passion on social media or online forums.
Think About Storage and Maintenance
To keep your watch collection in good shape and ready for wear:
- Develop a storage solution. Have a place in your home to store your watches, ideally in a secure watch box. Especially for automatic and mechanical timepieces, make sure you have the tools for winding your watch. Learn more about protecting your watch collection.
- Schedule regular watch repairs. Especially for watches worn regularly, make sure to have them serviced at least once every five years to ensure smooth, reliable timekeeping. Learn more about watch maintenance and repairs.
Ready to start a watch collection? Begin with Hannoush Jewelers of Connecticut! View our brands online, then visit one of our convenient stores.
