Monday, November 12, 2012

Want To Make An Investment? Wear It On Your Wrist

Want To Make An Investment? Wear It On Your Wrist

In a time of economic uncertainty people need to be creative when it comes to investing. If you are looking for an investment that increases in value over time but also is practical for everyday use than it is time to start investing in watches. The first lesson in watch investing is only the best watches increase in value over time.

“The beginning tier of investment grade watches run about $500 to $3000…and include American brands such as Hamilton and European ones such as Omega. The next tier runs to around $10,000 and includes entry level Rolex and Patek Philippe models. But prices can soar much higher.”(WSJ) To gain the most of your watch investment it is best to either buy vintage or buy incredibly rare and complex pieces.

A good example of vintage watches to look for is the “Paul Newman Daytona”, a style of Rolex that earned that moniker because it was favored by the late actor and can sell for $50,000. When you are looking at watches with complications the brand you should look at is Patek Philippe. Their complications are true works of art. There most expensive complication watch the Sky Moon Tourbillon goes for 1.3 million.

The way people see watches and use watches in financial markets has continued to evolve.  “Watches are almost an international currency unto themselves. A sought after Rolex with the proper paperwork can be taken to any major city in Russia, South America, India, and now China and turned directly into cash, says Edward Faber, a watch dealer with New York’s Aaron Faber Gallery.”(WSJ) Remember the next time you are looking to invest don’t forget to check the time.

Wall Street Journal "So You Think You Want To Invest In..." Charles Passy


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