If you want to start a watch collection hobby, you find it very surprising that it is a complicated business. Although it is a little bit straightforward since you buy the things that you like, in reality, you need to think about the things that you want to achieve when it comes to your watch collections before you start this hobby.
Are you collecting for the sole purpose of pleasure? In this case, are you worried about the holding value of the timepieces you are buying? If you are, is there a particular brand that you like? Do you have an interest in vintage watches?
And most importantly, how much are you willing to spend on one item? In this article, we will help you understand the pitfalls that will come when you are starting a timepiece collection and help you make all the right purchases every time.
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You need to do your research
It is self-evident, but like a fine wine, classic and vintage cars or unregulated and buoyant marketplace, there is an entire ecosystem filled with chancers, fraudsters as well as an odd genuine know-it-all and know-nothing people who will take advantage of you and sell you something that is not worth the price you are paying.
There is no safeguard from being gullible, so if the item is too-good-to-be-true, at this age and day, it is most probably not worth it. You need to stick with well-regarded and time-honored suppliers and don’t submit to the theory only you “know best.”
After doing your research, decide your budget
Deciding how much you are willing to pay for an item is the key when you are planning to start a collection. Experts suggest that you start small. You do not want to spend thousands of dollars on your first item. Accept the fact that it is not the price of the item that makes it a great buy or makes you like it more.
You need to remember that if you are purchasing established brands, you are also buying safety
Stick with popular brands if you are willing to spend a lot of money on your first watch. Do not be swayed by the looks or the design of the item. Trust the brands as well as the styles that have more or less 50 years of experience in the industry. Tag Heuer, Rolex, Omega, or Patek are good brands to start your collection. If you find a watch that is a limited edition, that would be great.
If you do not want to spend a lot of time researching for brands, and you do not want your money to be wasted on bad items, established brands are the best way to go. It is the wisest choice, but you need to understand that they are not the best-selling watches in the market for no reason. You will always be able to find buyers in case you decide to sell them again. You do not need to wait for a long time to sell them since these brands have a big following. You can get your money back in no time.
Do not be swayed by what is the trend
Experts suggest the new collectors should avoid anything that is too far out. There is a reason why Omega Speedmaster or Autavia from Tag Heuer is very popular; it is because, at the end of the day, people like traditional watches and dials. Things that are too “funky” or too “flashy” do not stay popular among collectors.
What is more, the residual value of these timepieces is not that high. You need to bear in mind that a lot of people’s tastes are very conservative. Not only that, if you are going to wear the timepiece all the time, you do not want to regret your decision about buying it after a few days.
To find out more about the history of watches, visit https://en.wikipedia.org/wiki/Watch.
Trust vintage timepieces, but make sure to be smart when buying
The one thing you need to remember first when it comes to purchasing vintage watches is to always do your due diligence in researching the item. The way the market runs now, experts suggest that collectors should not buy watches like Zenith movement Cosmograph or Cosmograph Daytona, because that market is now open to fakes unless you know what to look for. You can lose money or lose the watch if the item turns out to be stolen or fake. Anything popular at the moment should be avoided at all cost.