Pre-owned:Is it worth it?

Since our beginning way back in 2007, The Watch Source has always specialised in the sale of brand new, luxury Swiss watches. We continue to do so as demand for iconic brands such as Rolex, Omega and Tag Heuer is always going to be high. Now more than ever as they continue to provide many integral, yet behind the scenes roles in industries such as sport, fashion and aviation.

However, like any product in the luxury market, the price for brand new goods only ever go up and continue to get more expensive year on year. In recognition of this, we have decided to start an subsidiary completely devoted to selling certified pre-owned Swiss watches.

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#141-Rolex Daytona’s are some of the most sort after watches and are often bought pre-owned, sometimes for huge premiums!

Price

One of the main reasons why anyone would buy anything pre-owned, is of course the price. Buying goods ‘as new’ is a great method to save money on anything you are going to purchase.

It is a known fact that when items are bought new, the value of the good decreases. Cars, for example, can lose up to 40% when they are driven off the forecourt. Whilst watches don’t often lose this amount, they do become cheaper when watches that have been bought new, are being sold as pre-owned.

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#170-The case back of our pre-owned Panerai, detailing the expert quality and craftsmanship that goes into these watches. 

Sourcing pre-owned goods doesn’t mean you compromise on quality. Due to the nature of the Luxury Swiss watch industry, watches will continues to work for many many years after the original purchase date. Regardless of the year the watch was made/purchased, you will always get an very accurate time piece.

Whilst you won’t compromise on quality, you may lose out on warranty coverage. On occasions, watches are sold with some manufacturer’s warranty remaining so the timepiece will still be covered. If the manufacturer’s warranty has expired, most pre-owned watches retailers will offer their own warranty. This way you do get some assurance that what you are buying has a guarantee. A small enough compromise when you consider the potential savings that can be made.

 

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Condition.

It is well known that timepieces from elite Swiss brands hold their value/ depreciate at a significantly slower rate than most other purchasable objects ( cars, phones etc). In certain cases, the value of some watches can skyrocket, regardless of whether or not they are new or pre-owned, namely Rolex Submariner and Daytona models.

Anyone who purchases a Swiss timepiece will have this fact in the back of their mind. Knowing that purchasing a new watch is indeed an investment and something that may prove fruitful in the future. Having this knowledge can, and often does determine the way that people treat their watches once they have them. People will wear them with caution in order to to prevent them from getting scratched or damaged in any way. Some collectors may even choose to not wear the time pieces at all, leaving all original stickers and hang tags on the watches.

 

You may now be thinking as to why all this information about why people keep new watches in great condition means anything to me, looking to buy a pre-owned watch? The explanation is simple. Because of the perceived luxury of these items, they will usually always be sold in ‘like new’ or sometimes even ‘unworn’ condition. Enabling the consumer to acquire a timepiece that is in pristine quality for, occasionally significant, savings off the list price.

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#150-Omega Planet Ocean 600M (232.92.42.21.03.001) Retail: £5,280, TWSPO: £4,450. In Unworn condition. All paperwork included.

 

Limited edition/hard to get items

How frustrating can it be, when we wait for the launch of special or limited edition model and it sells out almost too quickly to seem possible? Like any product in the retail industry, this happens with Luxury Swiss timepieces.

Many brands will launch special collaborative pieces to mark relationships with icons of various trades as well as releasing updated, commemorative models to champion past icons in the brands history. Regardless of the reason for the production of the model, the popularity is always unwavering.

When the brands have sold out of these models, original customers will in turn look to sell them on at some point during their ownership of their watch. Thus creating a window of opportunity for the keen watch collector to obtain a limited edition timepiece.

The previous explanations on why to buy pre-owned are more relevant than ever for limited edition models. Limited edition numbers can increase the desirability of these watches, making watch collects maintain the factory excellence, allowing consumers to buy models that are in great condition.

There can be drawbacks. Rare models can often fetch a premium even when pre-owned. The rarity of these models can decrease the rate of depreciation even more so than normal for luxury Swiss time pieces. This usually means that consumers are expected to pay close-to-retail prices or even premiums over retail, depending on the model.

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#128-The Omega CK2998 pays tribute to the original model released in 1959. This model is one of 2998 and is available with TWSPO.

 

Pre-owned watches really are a great way to equip yourself with some iconic brands that have withstood the test of the very same time that they keep. They allow more people the opportunity to afford these luxury time pieces as well as allowing the avid collector to find those truly sought after pieces that may no longer be available.

At The Watch Source, we are truly excited to launch our pre-owned site and hope to offer an extensive catalogue that can evolve and grow to be able to offer more and more products to meet the taste of everyone. From everyday watch wearers to timepiece collectors.

Shop The Watch Source Pre-Owned now: https://www.thewatchsource.co.uk/preowned/

 

 

 

 

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