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3 Things to Know Before Purchasing a Luxury Watch

The role of watches has evolved in the last one hundred years. They used to be a necessity, for both business and personal life. There simply wasn’t a more convenient way to keep track of time. But, as digital technology became more readily available, the practical role of watches was slowly phased out; replaced by cell phones.

Watches aren’t gone though. As mentioned, their role has evolved. Nowadays, having a well-made watch is a sign of wealth. They are now luxury items in the same category as jewelry. Like expensive jewelry, such watches can also be investments which is why there’s three things you need to know before you buy one.

  • Know Your Budget

Luxury watches, as the name indicates, are expensive. The range you can expect to spend varies depending on the brand, make, rarity, craftsmanship and materials used. But, that’s why they are status symbols; not everyone can afford them.

Before deciding to invest in a luxury watch, do an honest assessment of your finances. How much can you put aside for a watch?

Remember, the prices of luxury watches have a wide range. So, just because you cannot afford your first choice, doesn’t mean there aren’t alternatives.

  • Shop Around

Luxury items such as gold, silver, jewelry etc. tend to follow market trends for prices. You likely won’t find the price variance on a new luxury watch as you would for a non-luxury good. However, that doesn’t mean you can’t find deals if you’re vigilant.

Different cities and provinces may charge a little or a little more for the same items. Online retailers regularly offer discounts which may apply to more expensive items such as watches. There’s also ‘cash-for-gold’ or ‘jewelry-for-cash’ stores. Places such as these have the advantage that some of them carry used luxury watches. These items may be massively discounted from their new counterparts. Just keep a receipt in case the used watch has issues.

  • Know What You Want

This piece of advice applies to any purchasing decision, but needs special consideration when buying an expensive item. Knowing what you want will save you money overall and prevent buyer’s remorse.

There are thousands of different watches you can buy. Luxury watches have a long history with many trends and styles having come and gone. If you step into a store not knowing what you want, you risk buying something you’ll regret.

Decide on what you want by thinking about your lifestyle, tastes and personal fashion style before stepping into a store.

Owning one, or several luxury watches speaks volumes about your status and wealth. Like silver, gold or jewelry, a luxury watch is an investment. That doesn’t mean you can’t save if you’re resourceful. Shop around and visit your local ‘cash-for-gold’ stores in Toronto to find the best deals. Buy a beautiful luxury watch, but do so within your budget.

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