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Why Second Hand Watches Represent Better Value For Money

There are 2 types of watch customer, those that always want a new pristine watch and those that understand that nearly new can be just as good but much much cheaper, if you want to learn more about these savings please read on… Depreciation is a fact You can’t get around depreciation. It is a…

There are 2 types of watch customer, those that always want a new pristine watch and those that understand that nearly new can be just as good but much much cheaper, if you want to learn more about these savings please read on…

Depreciation is a fact

You can’t get around depreciation. It is a fact, even on luxury goods. Only a very few exceptions can be made such as the Patek Philippe Nautilus in steel, the new Daytona 116500LN or the limited edition CK2998 Speedmaster for example, but most watches will depreciate in those first few years after their purchase. This even applies to the much-praised sports Rolex watches.

 

Young Pre-Owned

We are talking about young pre-owned watches of course. Watches that are 10 years old and clearly being used as daily drivers have perhaps an even more attractive price tag, but you do have to deal with a couple of marks that your predecessor left on there. With a watch of 1-2 years old, you don’t have to worry about servicing and chances are good (depending on how cautious someone has been) the watch is still in great optical condition.

With the extended warranties that brands like Rolex, Breitling and Omega give these days, you might even be buying a watch that still comes with factory warranty. For example, on Iconic Watches we offer a pre-owned Rolex GMT-Master II BLNR ‘Batman’ for 7400 GBP, a 2015 watch that still comes with factory warranty until 2020. A watch in an absolute 10 / 10 condition. The retail price of a new Rolex GMT-Master II BLNR is currently 7950 GBP. That’s a 400 GBP saved on a watch you can’t distinguish from new and avoid a hefty waiting list.

 

Things to keep in mind

You have to do some homework, as there are a couple of things you need to consider when exploring the pre-owned watch market: