Investing in watches, why make this type of choice? Few products can match the personal relationships you and I can build with our watches. I wear watches every day. They are useful and allow me to express my style. The combination of all these elements makes many people like to wear a watch every day. However, you can put aside the emotional aspect for a moment and focus exclusively on the money. Watches are an excellent safe haven investment. I give you the reasons in the following lines.
Like the market for antique cars and furniture, the watch industry has seen an increasing number of investors seeking to enrich themselves by buying and selling watches, especially at high-level auctions.
The most notable example is the 2017 auction of the Rolex Daytona Paul Newman, which was owned by Paul Newman himself. The watch was sold for the astronomical price of 17.75 million dollars (about 16 million euros). The auction included a selection of 50 watches. And almost all of these watches were sold at incredible prices.
If you consider the fact that the watch cost a few thousand dollars to purchase, then investing in watches can be very profitable. While it’s true that not all watches are worth the million dollar mark, selling and buying watches can be a solid income for you as luxury watches get better over time.
Of course, you will have to avoid breaking the watch. I have had this bad luck before and I assure you that it can cost you dearly.
Most watches sold at such prices come with a story. “This watch belonged to a celebrity”, “This watch was the first to be released in space”, “This watch is unique. … It is precisely these anecdotes that boost the value of these watches which are already quite expensive. To have the opportunity to buy a watch at auction, you will need a fairly solid wallet and very good connections.
Once you have the opportunity to purchase one, establish an emotional connection to the specimen beyond its economic value. It is these emotional connections that make the watch industry unique. Who gets sensitive when thinking about exchange-traded funds?
There are several advantages to investing your money in watches.