Why Secondhand Luxury Watches are Sometimes More Expensive Than New Ones
Watch enthusiasts and collectors often wonder why secondhand luxury watches are sometimes more expensive than new ones in the market. Which factors determine this increase and decrease in watch values and how can one determine them?
Most watches decrease in value the moment you buy them from a shop. However, there are some special watches that appreciate in value and they become more expensive than new watches.
There can be many reasons why secondhand luxury watches sometimes are more expensive than new ones. However, some of the most common reasons for this increase in value of these luxury items are discussed below.
1. It is a Limited Edition Timepiece
One of the primary reasons why a watch can increase in price is because it is a limited edition timepiece. These watches gain special value due to the very fact that the watch brand has decided to produce only a restricted amount of them.
Any limited edition luxury item has a special value associated them. As a result, they gain popularity – making the demand more than the supply. This increases their price as time goes by.
2. The Watch is Discontinued
Adding to a watch’s worth is the fact that it is sometimes discontinued and no longer available for purchase in the official market.
For example, if a brand discontinues the production of a certain model of a watch, that watch becomes low in supply once the manufacturing stops.
Now, the watch is only limited to the number of pieces that the manufacturer produced while it was available.
As a result, any discontinued model that enters the secondhand market becomes highly valuable for watch enthusiasts. This factor contributes to the increased price of a secondhand or preowned watch.
3. There is High Demand for the Watch Due to Popularity
Another common reason why a luxury secondhand watch is sometimes more expensive than new watches in the market is due to the high popularity of the watch.
Watchmaking is a sophisticated process and it has improved a lot over the years. Even then, there are a few watch models out there that don’t lose their popularity as the years go by.
These watches are so popular that manufacturers just cannot keep up with the market demand for them. There are watch collectors and buyers that sit on waitlists for years to get their hands on these highly valuable timepieces.
Therefore, whenever these popular luxury watches enter the secondhand market, they are highly prized and very expensive.
4. It is a Vintage Model Watch
A watch is usually considered a vintage if it is at least 25 to 30 years old. These kind of watch pieces increase in value as time goes by due to the simple fact of being vintage.
Typically, this happens with watch models that have an exceptional quality and stay in good condition despite being old. Moreover, such watches become rare as time goes by which also adds to their value.
As a result, these luxury timepieces are sometimes sold at four or even five times their original retail price as a secondhand watch.
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