While some consider wristwatches as an accessory, others take it as an investment. Throughout history, wristwatches have been many people’s prized possession. Just last year, Patek Phillip Grandmaster Chime Ref. 6300A-010 was sold at a stellar $31.194 Million in an auction in Geneva.
Buying an extravagant wristwatch has always been a trend for men, and the wealthy 1% of the world can’t get enough of it. If you have an exclusive watch that is discontinued, there might be a buyer out there willing to pay your price. But why do wristwatches appreciate over time? That is what we’re here to find out.
Experts agree that wristwatches yield a lot of profit even in an economic slump. Generally, it takes a decade or so for a watch to become collectible, but it’s a good long-term investment. Today, the most expensive wristwatches are ones made in the 1980s because they are no longer available in the market. Still, there are many reasons for a wristwatch appreciating in value over time.
It’s not just the precious metal wristwatches that increase in value by 10% to 30%. Many wood wristwatches are also entering the competition, and they age so well that buyers are crazy about them!
What makes a purchase more valuable than another is its rarity. What makes an item rare is its limited quantity of discontinuity. Rare wrist watches command more money at resale. This fact is the result of demand and supply. When people can’t find what they most desire, they are willing to pay extra. Wood wristwatches are the best example of rare wristwatches. This is because wood wristwatches are exclusive and made from rare wood, which adds more to their resale value.
There is no denying that certain brands are more expensive than others. These brands use cream-of-the-crop materials in designing their wristwatches. Once these brands stop producing more of a particular model, it’s welcomed for auction at staggering prices. These brands become a symbol of prestige and wealth. The ones who can afford these high-priced luxury wristwatches love to flaunt their fashion sense and pay any amount to fulfill their desires.
In the world of wristwatches, certain genres tend to receive a lot of attention. The most popular genres include pilot or aviation watches, diver watches, military watches, and auto-related watches. These genres are famous because of their market acceptance. Pilot or aviation watches are purchased more than usual, followed by the diver and military watches. While most wristwatches are delicate, pilot, aviation, and military watches are sturdy, which is also one reason they have a high acceptance rate.
While every collector will tell you to buy what you love, there is no way to gauge the resale value of a timepiece bought based on its looks. Regardless of how dynamic or simple a watch is, you can ask any price you want if it’s appealing. More importantly, wristwatches are sometimes over-valued because a buyer might be interested in that particular design that’s not available in the market. So, if you have a vintage piece lying in the closet, check out its market value.
The more unique your watch looks, the higher its price. Wood wristwatches are an excellent choice if you want to buy something out of its uniqueness. Aside from its rare choice of material, wood wristwatches age gracefully over time. Thanks to wood’s robust properties, wear and tear come off as beauty marks, adding more to its resale price.
Another reason wristwatches appreciate in value over time is because of who wore them. Many people are die-hard fans of their favorite movie actor or a singer. Wearing their accessory makes them feel like a true fan. Since wristwatches are widely accepted as a sophisticated accessory for men, it’s worn by almost every celebrity. If a celebrity-worn watch has initials on it, you can expect the price to increase ten folds because it adds to the authenticity.
For instance, Paul Newman’s Rolex Daytona fetched $17.5 million at Phillip’s auction. The watch’s incredible price was due to the fact Paul Newman wore it. Additionally, the extravagant Omega watch worn by Elvis Presley was sold for $1.8 million; this was the most expensive Omega watch sold at an auction.
Wristwatches appreciate over time, and this is also true for expensive watches. This is because these models are manufactured in limited quantities, and buyers know that they won’t get a chance to buy one if the stock ends. Moreover, wristwatch collectors buy a few of these watches because they greatly appreciate in value over time and prove to be a good investment.
If you are a fan of wristwatches, you will love Stuniii’s wooden wristwatch collection. Made from some of the most lavish and premium wood, Stuniii’s wooden wristwatches are luxurious and affordable. If you plan to buy a wooden wristwatch to sell over time, you won’t have to worry about aging or wear and tear. Wooden wristwatches age beautifully, and their natural colors deepen into the wood for a more appealing look. Buying a wood wristwatch from Stuniii’s will also get you a 30-day refund policy. So, what are you waiting for?
Click here to discover Stuniii’s marvelous collection of wood wristwatches.