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Want to buy a luxury watch?Read these 7 professional tips first

PERHAPS you did We set the milestone of a new job, an anniversary, and our first pregnancy. Perhaps you came across an Instagram feed for watch lovers and were intrigued. You may have looked down at your bare wrist and thought, “Something is missing.” Whatever the reason, you decided to buy a watch. Good thing. It’s not an Apple Watch or Swatch, it’s not a problem, but it does require a fair amount of budget and commitment. But where should we start?

To make a bad watch joke, it’s more complicated than you might think.

“There are so many aspects to buying a watch,” said Paul Butros, head of Americas for watches at the Phillips Auction House. “Whether vintage or modern, it may seem like you have to think about how to climb Everest when you start.”

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“There are many aspects to buying a watch. Once you get started, you have to think about how to climb Everest.”

Boutros recommends deciding on the brand first and then the model. Both choices require serious investigation. Reliability is a top priority, but it is also important to understand what the telegraph of each watch is. If you want to project an incredible combination of outdoor and sophistication, or if you want to, a luxury dive or sports watch may be a good choice. If you’re the fascinating type returning to the Gala circuit, you’ll find that diamond-dripping watches are the most “functional.” If your personal brand is timeless and chic, the Cartier Tank collection is in your alley. Meanwhile, OMEGA Speedmaster, without the hype of Rolex Daytona and the Submariner, said Adam Craniotes, co-founder of Red Bar, a watch enthusiast platform. The Speedmaster is a watch worn on a trip to the first human moon, which bears the timeless name in Ron Howard’s 1995 movie “Apollo 13” and is now endorsed by President Biden. Ultimately, watches are a matter of personal taste. The popular watch enthusiast platform, the website Hodinkee, is a great place to gather important information while searching.

But even if you choose a watch from the pinnacle of traditional Swiss watches such as Rolex, Audemars Piguet, Patek Philippe, Omega and Vacheron Constantin, if you don’t understand how the island’s holographic world works, you’ll always be on your way. You can not. For example, you can’t easily step into an Authorized Dealer (AD) and go out with the most popular models such as the Rolex Submariner and Daytona, Patek Philippe Nautilus, and Audemars Piguet Royal Oak. The combination of the hype economy and Swiss supply tactics has made these stainless steel sports watches the ultimate luxury flex, almost impossible to obtain directly. The waiting list is magnificent and reserved for those who are associated with the home or AD. “If you don’t have a history of purchasing with them, you just write down your name. They don’t list you,” Craniotes said. Demand for these enviable watches is skyrocketing in the distribution (resale) market.

Big Time Five classic watches worth the luxury. From left: Rebel Sotribute Nonantiem, $ 40,500, jaeger-lecoultre.com; Datejust 36, $ 8,550, rolex.com; Tankrui, $ 10,700, cartier.com; Calatrava, $ 40,810, patek.com; Royal Oak’Jumbo’ Extra-Thin, $ 105,400, audemarspiguet.com.


Photo:

The Wall Street Journal Susanne Sarov; Sitting Editor: Jessica Gibbs

The Nautilus 5711, a basic (but high-demand) three-hand watch with a date function and a stainless steel case (without precious metals), costs about $ 30,000 and says, “It’s a lot of money. Let’s be honest.” Says. .. Craniotes. “If you want to buy tomorrow, you can expect to pay close to $ 100,000, but it’s in the secondary market … you can’t buy from a dealer.”

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What are you looking for in your next watch? Join the conversation below.

The secondary market is made up of outlets such as eBay and Crown & Calibre. Crown & Calibre is an online platform that allows individuals and dealers to buy and sell luxury watches. Next is the gray market. For example, the Diamond District on 47th Avenue in Manhattan acts like an old-world bazaar full of implicit rules in some respects (think of it as “Uncut Gems”). Of course, it is possible to find a stellar watch there, but it is also a difficult area for beginners to navigate, so watch insiders recommend that only watch insiders be grayed out. I will.

When it comes to watchworld hints, it’s just the beginning. For example, it’s important to be familiar with top-notch auction houses like Philips. The latest watch brands such as Ming released by Kuala Lumpur in 2017. Popular indie brands like FP Journe are named after founder François-Paul Journe, who has a reputation as a master of mercury.

Of course, there is a lot to learn, but I created a cheat sheet. Here are seven tips to help you find the next top-notch ticker.

Make friends with your chosen AD

Despite the name reminiscent of a duty-free shop

Swiss watch

Along with Wempe, it is one of the best ADs. These international store salespeople are very knowledgeable and can guide you to alternatives to the most popular models of large homes and educate you on elaborate complications such as perpetual calendars. The watch business is a human relations business that is infused with direct interaction between tradition and champagne. Get to know your sales reps with big ads. It’s as easy as staying in touch after buying a starter watch or stopping by to see a new model. They can help you navigate the waiting list (especially the spectacular ones mentioned above) and Esoterica in the world of other watches.

Don’t be threatened by watch auctions

Butros said the idea that auctions were an elitist event for the ultra-rich was a “misunderstanding.” He said most Phillips auctions are open to the public and do not require a ticket to participate directly. In some auctions, bid opening could start at $ 500, he said. Philips procures valuable watches in almost every price range. “We are often looking for the best of those low-priced models that we would personally buy,” Boutros said. The first step in buying a watch at an auction is to know when the auction will take place. This is readily available information online. The Philips live auction has two seasons, spring and autumn, with live events in Geneva and Hong Kong in May, June and November, and an annual special sale in New York in early December. I will. The watch is toured in a lead-up, allowing potential clients to look at the watch, handle it, understand its condition and ask questions. All watches are scrutinized to the highest degree, so clients can rest in peace.

How can watchmakers charge ultra-high prices through an economic principle called the “snob effect”?

If you negotiate hunting, you will probably be screwed in

Don’t look for a deal. Please do not go to the gray market. If you’re buying from eBay or a reseller, search Google for your model and reference number to see what your established reseller is charging. Fake watches are not common, but models that are damaged, repaired, or repaired with new parts (which can be of reduced value) are common. Investigate the seller and make sure the watch belongs to that person. Craniotes suggests asking for a picture of a watch in today’s newspaper (extreme, but also effective). “Legal sellers expect this and you won’t get angry at having them jump over some extra hoops,” he said. “If you feel weird or the other person doesn’t respond the way you want, leave immediately. There’s another watch for you.”

Switch things on the second watch

Congrats. You have your daily staple, and it’s time to diverge. According to Barrett, the goal is to create “various categories in the collection” while preserving aesthetics. Maybe that means investing in a dress watch with diamonds such as Bulgari Serpenti or Patek Philippe Twenty-4. Alternatively, a gold watch with a crocodile strap can be replaced with a patent leather or calfskin watch to change your mood. Don’t be afraid to enjoy the round 2 picks.

Thinking about resale is never harmful

Keep your options open, even if you plan to give your watch to your grandchildren. With that in mind, stick to the original certificate form and box. These bring great value when resold. Watches that are especially popular in homes such as Patek Philippe, Audemars Piguet and Rolex can have resale prices that far exceed their list prices. Luxury watches can be sold at popular online consignment stores such as eBay, Crown & Calibre, or The Real Real. The site offers a list price that you can accept or reject. If you’re using eBay, run Google to find the average cost of resale. You can also trade in your watch with AD to get something new and pay the difference. It’s like a car and it’s about the same price.


Figure:

Elata Carmona

Be realistic about your eternal clock

“If in doubt, Cara Barrett, a former Hodinkee editor and founder of Parchie, who makes children’s watches to be released this summer, said. “It’s like shoes that are a little too small. You’re not going to wear them.”

To confidently decide which watch suits you best, Barrett asks a few questions like “How much is your budget?” And “Do you want to wear it every day?” Suggest to ask yourself. And “Are you active?” These queries look simple, but thoughtful answers help narrow your search. Also, being able to clearly communicate your needs to your sales reps can help them guide you.

Barrett also advises you to consider your professional environment before making a purchase. So do you work in the office? If so, what is the culture like? “that is [dictate] Flashy [or] I don’t want to be flashy, “she said.

Other useful rules of thumb: Take a traditional Swiss home watch, buy it from a trusted dealer (if not directly from your home), and make sure you have reliable and service options Please give me. And always try it first.


Figure:

Elata Carmona

To impress the watchman, become a watchman. Or buy a hot watch.

if you want to Woo watch sets, they will be at their level. Falling into the rabbit hole, Alice. Take pleasure in studying the matrix of complications, the incredible composite of small gears that is the essence of timekeeping. Learn about watch celebrities like Orel Bax, who co-founded Philips with Bax & Russo with his wife Revere Russo. It will take some time before you are taught.

Alternatively, you can use a shortcut. Craniotes recommends buying a watch from FP Journe, the “current indie darling” whose price starts at around $ 16,000. Alternatively, you can search for a limited edition in the resale market. In particular, you can search for those with complex back stories that can be told in small talk. In this regard, the 2015 Omega Speedmaster Silver Snoopy Apollo 1345 Anniversary Edition is especially desirable. It depicts Snoopy and a balloon proclaiming “failure is not an option” to commemorate the 45th anniversary of Apollo 13’s mission. This is due to Gene Kranz, Apollo 13’s flight director.

Interestingly, he never said so. Ed Harris did so when he played Kranz in the 1995 movie. But Kranz loved it so much that he titled his memoirs “Failure is not an option.” Snoopy’s Watchface Cameo is a reference to Silver Snoopy, an award given by NASA for outstanding performance that contributes to flight safety and mission success. All NASA astronauts who participated in the Apollo 13 mission received the Omega Speedmaster Professional Chronograph. This helped save the crew after the oxygen tank ruptured and endangered the mission. The list price in 2015 was $ 7,350. Today it costs you about $ 50,000 — if you can find it. Only 1,970 were made (and another fun bite for chit chat) in favor of the year of the mission.

The Wall Street Journal is not covered by the retailers listed as retailers of the product in its article. Listed retailers are often not the only retailers.

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Want to buy a luxury watch?Read these 7 professional tips first

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