How To Start A Watch Collection

Looking to start a watch collection? Not sure where to start? Our watch experts share our top tips for buying, selling and growing your luxury watch collection today.

 

How Do I Start A Luxury Watch Collection?

1. Gather Funds
2. Determine Your Collection
3. Purchase
4. Continue Your Collection

 

1. Gather Funds

The first step when you start a watch collection is to gather funds. Though they range greatly in price, luxury timepieces are often quite costly. It may take months to save up enough money to purchase just one of the watches you desire.

A quick way to get cash to start a watch collection is by selling any older watches you may have laying around or by selling any other jewelry that is collecting dust in the back of your closet. WP Diamonds offers a free, secure service for selling your luxury watches, designer jewelry, and diamonds online. Fill out the online form to receive payment in as little as 24 hours. If you would like to upgrade your watch, you can get up to 10% more on your offer in store credit.

2. Determine Your Collection

With money in hand, it’s now time to decide what type of watch collection you would like to have. You can always change the direction of your watch collection, but it can be helpful to have a vision in mind as you purchase your first watches. Consider the following:

• Theme: Some collectors choose to focus on vintage watches, others choose to purchase only dive or pilot watches, and other collectors simply purchase whatever suits their fancy in the moment. If you plan on starting a specialized collection, it’s important to do some research on what sorts of watches are out there.
• Price point: It is important to be clear as to what your budget is. Are you looking to buy one watch for $1,000? Or do you plan on purchasing 2 watches with a $5,000 budget?
• Brand: Perhaps you have a brand in mind. But perhaps not. There are hundreds of luxury watch brands available on the market which can feel overwhelming, so a good place to start is to read our list of the top 20 luxury brands to provide some insight.

 

3. Purchase

With some long-term plans in mind, you are ready to purchase the first luxury watch for your collection. There are few tips to keep in mind when starting your luxury watch collection:

• Look for timeless pieces – It’s important not to chase trends. Choose a watch that you’ll enjoy for years to come.
• Shop pre-owned watches – A great way to save money when shopping for luxury watches is by looking on the second-hand market. You can find watches in fantastic condition for a fraction of the retail price.
• Choose a wearable watch – Choose a watch that you actually want to wear and that suits you and your personal style. Be sure the watch is wearable for many occasions. One of the benefits of a luxury watch collection is that it can be used and enjoyed on a daily basis, not hidden away in a safety deposit box or safe. It would be a shame for such an expensive purchase to sit unused in your dresser.
• Care for your watch – Once you have purchased your first watch, it is important to care for it properly. (See here for more on how to maintain your watch).

 

4. Continue Your Watch Collection

After the purchase of your first luxury watch for your collection, you may soon find that you are ready to keep buying. You can hunt for a watch that is completely different from your first watch, or perhaps you are so satisfied with your first watch that you would like to buy something similar.

Our tips for growing your watch collection:

• Sell on or keep adding? It is important to decide if you want to trade in your watch before making a new purchase or if you want to keep adding to your watch collection.
• Explore new brands. Maybe you started a watch collection with a classic Rolex, why not dive into some more niche watch brands such as Bell & Ross or BRM.
• Add variety to your collection. A well thought through watch collection includes watches for a variety of occasions: formal and informal, watches for business, travel and adventure.
• Continue your watch education. The world of luxury watches is rich, diverse and ever evolving. The more you learn, the more you realize you there is to learn.

Regardless, continuing and maintaining a watch collection is an exciting, enjoyable venture.