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Planning On Buying An Expensive Watch? You’ll Want To Read This First

(Source: www.asianmoneyguide.com)

From a practical perspective, all watches are the same. They all tell time, and they’re an important part of everyday life, especially for those who want to always be on schedule. But it doesn’t mean that buying an expensive watch is a bad idea.

For one, expensive watches are built with higher quality materials, and they can last a long time. They’re also very reliable and are highly accurate when it comes to keeping time.

Luxury watches are also a status symbol. It shows other people that you can afford to buy a good quality watch. For others, it shows that they can appreciate good craftsmanship.

If you’re planning on buying an expensive watch, but you’re still not 100% sure you want to do it, then here are some useful tips!

What counts as an ‘expensive’ watch?

When it comes to watches, we can split them into low tier, mid tier, and high tier.

Here are some examples:

Low tier (US$500-2,000)

Good brands here are CitizenHamilton, or Oris.

For example, the Citizen Womens Stainless Steel Watch below costs about US$562.50

buying an expensive watch

Mid tier (USS$2,000-20,000)

Mid tier brands are more expensive, but you’re really paying for the craftsmanship, the brand, and the metals and gemstones used in the timepiece.

Notable brands include Dior, Bulgari, and Chanel. A great example is the Chiffre Rouge below which costs roughly US$4,000.

buying an expensive watch

High tier (US$20,000 – above)

For those looking to splurge, or who want to invest in a high-tier watch, then the brands to look out for are Rolex, Cartier, Hublot, and Omega.

A great looking watch that’s worth the expense is the Cartier Tank Anglaise, which costs about US$25,000.

buying an expensive watch

Buying an expensive watch: Some things to keep in mind

buying an expensive watch

The first thing to consider is that buying a luxury watch is much like buying a car. Even if it’s a well-made timepiece, you would still have to get it serviced some time in the future. Which means that there’s an additional cost involved.

On average, a good quality ladies’ luxury watch would set you back about US$500. The cost of servicing said watch will set you back about US$150-500.

Automatic watches are usually cheaper to service, while ones with chronograph and more complicated mechanisms can cost more.

Are you going to wear it everyday?

Another thing to consider is that if you’re going to be wearing it everyday, or only on special occasions. A good watch, if worn everyday, will eventually have tiny dings and scratches, and suffer from the wear and tear of daily use. That means you might have to get it serviced more often.

But if you’re fine with that, then you shouldn’t worry about buying an expensive watch.

Set a budget and stick to it!

Another thing to consider is that you will need to set a budget for yourself and not just splurge on a watch.

Remember, you have to be financially responsible, so you’ll need to set aside money for your daily needs, your savings, bills and other expenses, before you could even start thinking about buying a watch.

More Info: www.asianmoneyguide.com

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