- Certain references (Rolex, Patek Philippe, Audemars Piguet) resell above their purchase price.
- Condition, papers, original box, and rarity determine a watch’s value.
- Buying a watch as an investment requires patience, verification, and purchasing at the right price.
Luxury watches have become a distinct asset, sometimes outperforming gold or the stock market for certain references. However, behind the stories of Daytonas doubling in value, the reality is more nuanced: only a minority of models truly appreciate. Here’s how to approach watchmaking as an informed investment.
Which Watches Appreciate in Value
Value follows rarity and demand, not the catalogue price. Highly sought-after references, such as the Rolex Daytona, Patek Philippe Nautilus, or Audemars Piguet Royal Oak, benefit from limited production in the face of sustained global demand. Conversely, a mass-produced watch often resells below its new price. The golden rule: aim for highly desirable brands and iconic models rather than common series.
Criteria That Determine Value
A watch’s value is primarily enhanced by its condition, authenticity, and history. Collectors demand the « full set »: original box, certificate, invoices, and unused links. A recent service, an unrefinished original dial, and an intact movement boost its value. Limited editions, pieces linked to an event or personality, and discontinued models gain rarity over time.
Pitfalls to Avoid
The primary risk remains counterfeits or « frankenwatches » assembled from mismatched components. Purchase from reputable dealers, demand traceability, and have significant pieces authenticated. Be wary of excessively low prices and overpriced watches bought at the peak of a trend. Liquidity also matters: a niche piece can take a long time to resell.
Getting Started
It’s better to own one beautiful, iconic piece than a multitude of watches with no resale value. Define a budget, research actual resale prices, and prioritise timeless steel classics, which are often the most in demand. Keep all documents and maintain the watch. Investing in horology requires time and knowledge, but offers the rare pleasure of wearing your investment on your wrist.
