You have thought about it long enough, owning that first swiss made timepiece, whether its celebrating a personal milestone or the acquisition of a future heirloom. When I first decided to embark on this adventure of collecting mechanical timepieces it was very much for a personal reason as well as genuine intrigue into owning a piece of jewellery that contributes to providing one of the most precious gifts of all, that being time.
At first, the thought process can be quite daunting. Dabbling into higher level horology can be costly, demanding sums that could be put towards more ‘’sensible’’ acquisitions or investments. However this is one of the first lessons that must be understood, a watch is and will always be a luxury asset, its very rare that an acquisition of a timepiece can provide a source of financial gain. A wristwatch is very much a personal item that will contribute to emotion, memory and gratification. For sure there are other ways of gaining these feelings, however I hope those reading this article will be here for the understanding of how a timepiece can do this.
So, lets take a deeper look at considerations, options and the decision making processes that will hopefully help guide you to acquiring your first luxury timepiece. We will focus on Style, Size and Complication and beyond that the options that are available to source your first timepiece.
Sport or Dress?
This should be one of the first variables to start considering, when and where will you most likely be wearing your timepiece? Strictly speaking there are more than just ‘’sport’’ and ‘’dress’’ watches, however in the industry these are the two main categories that form the true purpose of a particular timepiece. Sport pieces are designed to feature more function over form as opposed to dress pieces which are traditionally tailored to form over function (that being said, some of the most complicated timepieces feature dressier styling cues). The sports models will most likely incorporate the use of materials such as steel or titanium coupled with bracelets, dress timepieces utilising precious metals on leather or hide. Traditionally speaking, sports models tend to be of a larger size whereas dress watches wear smaller and more discreet. This leads on nicely to our next discussion point.
Does size matter?
This is one of the most contentious topics discussed regularly within the watch community, and I will be honest, it dictates to a lot of my decision making process when searching for the next piece. However there is no right or wrong answer, if you enjoy wearing large watches or smaller sizes its purely a preference. Some thoughts for you to consider however, be aware of the case diameter, is this including the watch crown? Also keep an eye out for the length of the lugs, if these overhang due to their length this can considerably change the proportions and aesthetic of the watch on the wrist. Case thickness also... will your timepiece slide under a shirt cuff? The bottom line here is to make sure you can get hands on with the timepiece to get a feel for its presence on the wrist. Watch preferences and fashion trends evolve over time, that being said, I would say for the time being, anything less than 36mm would be considered on the smaller size, anything over 40mm would be deemed as a larger style. The purists have their opinions and traits however, if it works for you, thats all that matters.
Its getting complicated now!
Ill try and keep this part as simple as possible, apart from your timepiece presenting the time is there anything else you would like it to do? Complications come in a variety of forms, as simple as a date window through to the addition of a tourbillion or perpetual calendar. Complications can be seen as a bit of a ‘flex’, watchmakers being able to demonstrate their skill and craftsmanship by adding a complication to a timepiece. On the other hand and as mentioned previously, a complication can simply be a date or day window, a chronograph is a fairly common feature found on many timepieces, allowing the user to time his or her boiled eggs or re entry into the earths atmosphere as was achieved on the Apollo 13 mission with the Omega Speedmaster. Either way, a complication is something that should be considered as while being a practical addition to your timepiece, they can visually enhance the aesthetic appeal of the dial.
New or Pre-owned?
So after you have found the watch that suits your requirements, you will need to come to the decision of how to acquire it. There are plenty of options here, depending on the model it might not be possible to get hold of it brand new from the retailers, after all it maybe a discontinued timepiece. In this case your only viable option is to source pre-owned, this can be done via online retailers such as (chrono24, eBay or watchfinder) or traditional brick and mortar stores on the high street. This stage of your hunt can be where the largest stumbling blocks are found, as with any second hand purchase you really need to have faith and trust in the seller, so be sure to do your research. This can include reviews, trusted seller sites and meeting face to face with the dealer so that you can make your own judgement. In contrast, purchasing a new watch from an authorised dealer or ‘’AD’’ ensures all factory warranty’s/refund policies are valid and you have a clear, traceable purchase.
As we touched on briefly before, purchasing from an AD may not be possible. A fairly new phenomenon that has truly changed the way we can purchase brand new watches is the introduction of waiting lists and ‘’preferred clients’’ at AD's, this has been a fairly controversial concept of controlling demand, extremely frustrating for consumers who genuinely desire one of these popular timepieces. Because of this, the only other viable option is to head to the pre-owned market and witness some of the hugely inflated premiums that have driven the likes of Rolex sport models to an unsustainable level. However, we need to remember this phenomenon only covers a small percentage of the timepieces that are available on the pre-owned market at a considerably lower price than purchasing brand new.
Box and papers?
Aside from the timepiece itself, what else will accompany it? This is of course only really applicable to the pre-owned market as new watches should come with all the accessories. The option of having box and papers can add to the collectibility and future value as well as helping to prove its authenticity. Although this shouldn’t be a deal breaker, from a collectors perspective it certainly can be. If you are likely to one day sell on your watch, having as much paraphernalia and supporting evidence of the timepieces origin is of great value. Therefore box and papers can be seen as an important aspect to consider when acquiring a pre-owned timepiece.
Running costs
So you have finally ‘pulled the trigger’ on your first luxury timepiece, what happens next? Well, I hope theres no feeling of regret and you can enjoy your watch for many years to come. However, lets take a glance at some of the ongoing expenses you may stumble across over the course of ownership of your new acquisition. Servicing, its important to ensure your timepiece is serviced every few years, in most cases this can be done by independent watchmakers, alternatively it can be beneficial for your watch to be sent back to its manufacturer (in order to extend any expired warranty). In most scenarios your timepiece will be disassembled, cleaned, tested for accuracy and re-lubricated, the price fluctuates depending on whether you choose for an independent watch maker or manufacturer to service the watch as well as the level of complication the timepiece exhibits. As a rough guide, a full service of a Rolex Submariner at their dedicated service centres will cost in the region of £500-£1000 at time of writing, assuming there are no significant defects with the timepiece, with this you will also receive a further two year warranty extension.
Insurance and storage
Insurance is certainly an option that will have to be considered, after all this is an expensive item that will be worn outside of your own home and like any other luxury asset, a target of theft. In recent times watch theft and robbery has increased twofold, unfortunately this is a reality we have to face, understand and minimise. To help mitigate this, common sense applies, do not wear your watch around areas that are known for a high level of crime. Insure your timepiece, this way you can get some level of protection. In most instances it will be possible to insure your timepiece on household policies, but be sure to understand what exactly that insurance will cover. In other circumstances you may require a specialist insurance provider, these companies are often more thorough (requiring independent valuations and proof of purchase history) however provide a higher level of protection. Storage may also be a consideration, if you are unable to ensure adequate security measures at home or don’t wish to keep your timepiece under your own roof a deposit box maybe a viable option, available at a variety of high street banks.
A final word
So thanks for getting this far, I do hope I have been able to give some advice and direction of the topics to consider when diving into rabbit hole that is watch collecting. Don’t get me wrong, there is a lot more detail I could have covered, however the aim of this article was to give you a snapshot of the main considerations. I have also designed a short decision tree based concept of entry level luxury timepieces that may help sway your decision making process of where you endeavour to start your watch collecting journey.
All the best, Josh
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