Here are nine things you need to know about watch investing. They may be important to you if you’re a novice or just want a general idea about what you should be looking for when you invest in watches. When I started watching antiques, I didn’t know anything about watches and I ended up losing a ton of money. But I’ve learned since then and I hope you will too.
One of the most important aspects about collecting things is how rare they are. This applies to antiques and coins as well, but is especially important with jewelry. If you have an item that was once owned by royalty or someone very wealthy, it is more likely to be worth a lot of money. But, on the other hand, if it belongs to someone who does not hold much importance in history, it may not be as valuable.
Next, you should know when to buy and when to sell. This may seem simple, but if you don’t take the time to learn about watch investing, you can end up losing money quickly. I recommend taking time to do this research at least once a year.
Knowing when to buy a watch is also important if you ever intend to resell it. Some people are motivated by the thrill of the purchase and want to get rid of the watch immediately. Others want to trade it in later and will hold on to it until it increases in value. Take your time and don’t rush into anything.
The third thing you should learn about is knowing where to source a good watch. This can vary from person to person. There is no right or wrong answer. What is important to one person may not be important to you. Keep in mind that some places charge more than others simply because they know more people and can afford to pay more.
The last thing to learn is that watch shopping can be fun. You will find yourself opening several boxes of watches each week. My wife even keeps an old military watch around for a military discount. Who knows, you may even learn something you didn’t know about watches!
Nine things you should know about watch investing is that the market can change at any time. This means that when an advertisement says buy today, you may want to wait a few weeks. Do some research and find out what times of the week generally sell the best watches. Watch stores have a lot of inventory throughout the year. Some sales are seasonal, so that is something to consider as well. Watch sales will never guarantee you will make a profit.
As with any investment, you must learn about the company behind the product. Look into the history and see if there is any information available on the company website. If the company is reputable, then the site will be easy to navigate and there is likely an archive of past issues. Companies that pay attention to details and are willing to provide detailed information are more likely to provide a legitimate watch buying experience. These are just a few of the reasons why I have been able to become a successful watch dealer.