Beyond making a style statement, luxury watches have become a great investment option. With higher demand than supply, the high-end watches command around 20-40% premium over their retail prices in the pre-owned watch market. A watch appraisal can be useful in determining the actual market worth of your coveted timepiece.
Watch appraisal services offered by a professional company like Prestige Valuations can ensure that you get to know the true value of your watch. A watch appraisal is required for insurance, estate management and selling purposes.
If you own a world renowned brand like Rolex, it is recommended that you first get a Rolex appraisal. It will help you effortlessly get insurance coverage for your precious timepiece.
Luxury watches are expensive because of the intricate craftsmanship, high precision, state-of-the-art technology, complexity of mechanism and materials used like gold, diamonds and gemstones. Investors consider the investment in high-end timepieces equivalent to that of the stock market or gold.
The average prices of top models from the high-end brands- Rolex, Patek Philippe and Audemars Piguet, in the pre-owned watch market, elevated at an annual rate of 20% from August 2018 to January 2023, as mentioned in a report.
The waitlist for the above mentioned luxury timepieces is long and watch enthusiasts are ready to shell out a premium and purchase pre-owned watches instead of waiting.
If you purchase a Rolex, it is recommended to get a Rolex appraisal for insurance. An appraiser will assess a few crucial factors like brand, model, market demand, condition, age, rarity and authenticity to determine its true value.
Watch appraisal services are also useful for identifying a fake watch. By getting a watch appraisal, a collector will be saved from buying a Rolex replica as the appraiser will determine its accurate worth and authenticate it.
In the Infographic below, we have mentioned the top five luxury watch models ideal to invest in.
