Does the Value of Luxury Watches Depreciate?
Like many high-end items, pre-owned luxury watches are considered valuable assets. There are various factors that determine the value of such an asset; Condition, make year, level of rarity, material, and more play a role.
That being said, it is common knowledge that once you buy a high-end luxury item, like a diamond ring or a car for example; and you wear it or drive it, its original value will no longer be the same. This concept also applies to luxury watches – Their value does depreciate with time. But one of the main factors that affect such value is the condition of the item. While a quick search on the Internet might provide you with an estimate for your watch’s worth, an expert appraiser would be the informed source for accurate valuation. Some experts claim that the depreciation of a luxury watch could range anywhere between 22% and 75%. You need to keep in mind though that the value of a collective will increase over time.
In order to receive a fair and accurate value for your luxury watch, you need to work with a luxury watch appraiser who is continuously out in the field, stays up-to-date with the latest in the industry, attends trade shows and has many years of experience. Avoid the temptation to go to your local jewelry store. Although your jeweler might be knowledgeable about the value of gold, their main job is to sell their products in store, and not appraise luxury assets like your high-end watch.
Are you ready to put a good value on your luxury watch? We are here to help. Click HERE for Watch Appraisal or give us a call at 800.688.2994 and ask for Ron to evaluate and assess your watch.