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Classic timepieces as an investment

uptomyeyeballs
Posts: 575 Forumite
I've always wanted to own a Rolex watch. Are they a good investment? Do they appreciate in value as they get older?
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Comments
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Oh blimey, yes they can.
But it does depend a bit on getting a good deal initially.
My husband bought one from Schipol Airport and got a good deal, we also got a good deal on another one from Goldsmiths.
I think we're up about 50% in 2 years.
Not sure we'd buy purely for an investment but if you'd like to wear one or own one anyway then you can do really well.
I would definitely suggest shopping around.
For example
1) Just asking for a discount at jewellers
2) checking out which models are best to buy e.g. not every man will like rose gold
3) Checking prices at airports
4) checking prices if you're ever on holiday in the US or abroad
Unfortunatly the $ exchange rate is rubbish right now.
But Americans go to Alaska when they want to make an expensive jewelry purchase and the discount covers the cost of their holidays.
So if a trip to Alaska/Hawaii/Carribean or somewhere like that is something you've always fancied doing then you could consider going that.
Obviosuly you MUST buy from a proper dealer but some cruise ships do recommended stores where they offer guarantees. Obviously they get commission from palces they receommend but it's NEVER worth risking buyign a fake. Rolex is ONLY sold thorugh official dealers.0 -
Unless you are an expert in them I would avoid. Things like this are based a lot on fashion and we all know things go in and out of fashion all the time. If you want a nice watch then get one but I would never use something like this as an investment.Changing the world, one sarcastic comment at a time.0
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I would disgree with the above.
There are some Rolex deisgns that are "classic" and are always popular.
I'd even say "timeless" :T
I think you have to be prepared to put in some effort and that's why it works best if you fancy one yourself.
If you enjoy the "shopping" then the research will be enjoyable rather than a chore.
My husband wears his quite a bit and provided you take care of them (he doesn't wear it on the motorbike for example) then that won't detract from it's value.0 -
I've been doing quite a bit of reading up. I'll not be buying a new one, it'll be second hand (no pun intented). The model I like is the Rolex GMT II, which seems to always be popular. I'd want to buy it and it retain it's value. Looking at the various official Rolex outlets and dealers, they do look as though they keep their value quite well. I'd want it to wear though, it's no good keeping it in a drawer. The watch I have my eye on is only 5 years old, and is on sale at a reputable dealer (see below).
http://images.watchfinder.co.uk//images/Rolex/16710B.jpg0 -
Make sure you get it insured (and for outside the house/abroad).
If you have a lot of high value items you might want to take a look at hiscox for home insurance.
It won't be the cheapest policy but quite superior e.g. I think the single item limit is £15K as opposed to about £1.5K for "normal" polcies.
All our valuables are insured anywhere in the world, so we don't have to worry about tiny limits on travel insurance.
You also might like to get a safe put in your house.
You can get one from screwfix (like hotel ones) and bolt it to the loft or somewhere it won't easily be found.
It won't help with insurance and wouldn't help if you have armed robbers but would keep your valuables safe in 99% of cases where they are in the house for 2 miunutes.0 -
uptomyeyeballs wrote: »I've been doing quite a bit of reading up. I'll not be buying a new one, it'll be second hand (no pun intented). The model I like is the Rolex GMT II, which seems to always be popular. I'd want to buy it and it retain it's value. Looking at the various official Rolex outlets and dealers, they do look as though they keep their value quite well. I'd want it to wear though, it's no good keeping it in a drawer. The watch I have my eye on is only 5 years old, and is on sale at a reputable dealer (see below).
http://images.watchfinder.co.uk//images/Rolex/16710B.jpg
The Daytona's were very popular at one time. Have a look at ebay for lots of watches for sale (caveat emptor).
Unless you were to become a watch dealer, I don't see a viable investment opportunity for a novice - too many pitfalls and no FSA protection.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
I wouldn't buy one from ebay.
There are some really good fakes out there that even experts would have a job with.
You can get good deals from abroad, airports or buying before they go up in price without having to resort to ebay.
Too risky IMO
With something of high value the effort that goes into faking them is high.0 -
If you're interested in a vintage watch, these sites can be useful:
http://www.timezone.com/
Has an active Rolex forum.
https://www.antiquorum.com
Specialist auction site: can be used for past searches etc.
I like Omega watches myself ;-)Debbie0 -
I wouldn't buy one from ebay.
There are some really good fakes out there that even experts would have a job with.
I'm sure there are but I gather 99% of the cheap fakes you can spot immediately. I don't have a Rolex (and never would) but apparently the second hand "sweeps". That's quite hard to do mechanically so virtually all fakes have a "ticking" second hand.
No good for spotting fakes on Ebay but it means you can spot the fake in 2 seconds flat when your mate down the pub tries to convince you he bought a Rolex as one of my friends did :rotfl:0 -
I wouldn't buy one from ebay.
There are some really good fakes out there that even experts would have a job with.
You can get good deals from abroad, airports or buying before they go up in price without having to resort to ebay.
Too risky IMO
I bought a very expensive gold Bulgari on Ebay in 2002 from a high rated seller. I probably wouldn't buy one from ebay now, given how much scams have developed online (and I closed my ebay a/c). However, you can see what is popular and get some guidance on prices for 2nd hand.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
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