Want To Make An Investment? Wear It On Your Wrist
Want To Make An Investment? Wear It On Your Wrist
Wall Street Journal "So You Think You Want To Invest In..." Charles Passy
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.
posted by Rich at 3:34 PM
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