7 Tips: How to Save and Invest in Your Dream Luxury Watches

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The fact is that luxury watches are not items you want to buy on a whim. These things are objects that have been exquisitely and carefully crafted and can be handed down as an heirloom for future generations. 

Everyone should be able to own at least one quality watch in their lifetime. But of course, there will be roadblocks along the way like for example if you’re on a very tight budget. That is of course, very understandable. Luxury watches are a bit hefty when it comes to price and not everyone will be able to afford them and just drop the money on an expensive watch without some sort of lengthy consideration. 

Luxury watches by Rolex, Omega, or Hublot are usually considered decent kinds of investments.

Ask Yourself Considerable Questions

Do you have any idea what exactly you’re saving money for? Are you 100% sure of and are aware of the options that are out there right now? Are you looking for a simple 3-handed watch or something that’s got a few more complex details? When your purpose and motivation are in the right place, whatever they are, you can buy your dream watch more confidently.

Remember to Do Your Research

Watches often offer the absolute best value in the Swiss-made watch industry. Most of the other well-known Swiss watchmakers, like TAG Heuer for example, can only offer battery-powered quartz watches at a certain price point.

Do the 50-30-20 Saving Style

Keep in mind that what you do with your paycheck now will go a long way in the future to help you save up for a respectable luxury watch. The general rule for savings is the 50-30-20 rule which means:

Half of 50% of your paycheck will go to necessities, 30% will all go to the daily expenses and the remaining 20% goes towards a savings account or paying off debt.

All in all, you can decide to save as much, or as little, per month on the last two percentages. But always remember that it is always a good and better idea to have emergency savings left even after you purchase your watch. This is both a safe and responsible thing to do.

Know the Essential Details of a Good Watch

Whenever you buy a car, for example, you should never go and jump the gun without even test driving it. You should never buy a house or any sort of property for that matter, without first seeing and inspecting it. And so, for the process of buying a luxury watch, all of this is still very similar.

Understand That Buying a Luxury Watch Will Have Its Sacrifices

There’s always that moment in time whenever you’re on the verge of purchasing a product for the mere sake of just purchasing it. Remember that if you still don’t have the means yet to do so, wait a little longer and give yourself time to save up more money.

A lot of times, when things are rushed, people will usually end up with lower-quality items and if you get a subpar watch, that will pretty much be like throwing away your money.

While a luxury watch is a significant financial investment, it is also a personal one. Never settle. And most importantly, never sacrifice quality.

Avoid Going With the Flow

Here, we explore the more experimentally strategic tips. Watches that are made by fashion designers are more likely to be less expensive, which could very well be tempting to buy. But if you initially planned to get a proper luxury watch that could last you a long time, you should steer clear of all the trendy ones. Why? Essentially, fashion watches tend to be only fashionable. They are designed to be pretty. All of which are designed to be fashionable at a certain time frame or shall we say, a specific fashion trend that can end at any time. Trends constantly change, so that fashionable watch that’s “in” right now might not be as cool a few months or years from now. That being said, it’s best to stick to the classics. By doing this, you no longer have to buy another watch for a long time.

Try to Consider Pre-Owned Watches

Logically and strategically speaking, pre-owned watches tend to be way less expensive than brand new watches. The same goes for some of the luxury brands too. In reality, saving up may take a long time. Depending on the current circumstances, it will take a long time. So buying brand new products isn’t always the most practical choice. “Pre-owned” doesn’t always mean “all worn out and ugly”. You’ll be able to find a pre-owned watch in great condition. Most of it could be in a very fresh condition even for a pre-owned watch. All you have to do is to take time tracking down these watches. And a good bonus here is that you’ll more than likely find it at a fraction of the price.

Takeaway

More than just a status symbol, owning a luxury watch has practical benefits. That’s why while you are still saving up, always discipline yourself not to obtain your dream watch out of impulse. There’s no need to rush because, in the end, that purchase will be worth it! Be sure to check out TheWatchCompany.com for luxury watches at obtainable price points and score authentic, pre-owned, or brand new timepieces.