To become a Master Watch Collector you need patience, a bank roll, and watch knowledge that goes beyond the basics. You will be hard pressed to find any true collector out there that lacks these three traits. In our blog today we’ll go over these 3 tips to help you on your way to “collector” status.
Become a Master Watch Collector: 3 tips
Patience is one of the most over looked trait of the watch collector. Sometimes our emotions can make decisions for us leading to a not so great purchase of a fine watch. The desire of owning a particular timepiece can take over and before we know it a deals done. Don’t allow your emotions to make a purchase and practice patience.
Not all watches are traded equally. There are price points that watches fall into. You could be a modest watch collector of Seiko watches that are only mechanical movements. With that type of price range you don’t really need a huge Bank Roll, however; you do need some sort of bank roll none the less. In fact there are tons of mechanical movements from a number of watch makers in the $100-$500 dollar range. So if your just starting out and don’t have a huge budget you can still get into watch collecting.
On the other hand, if your budget is big, you can find some serious craftsmanship. Usually entry level Rolex Watches or other luxury watch collector pieces start at around $5,500.00 and can run into the millions. Plus there are just as many watch makers in this space as there are at the lower price points, putting more emphasis on smart buying decisions and watch collect-ability.
Beyond the Basics
Buying and selling watches is easy. However; buying and selling watches with watch knowledge is better. When your in the market for a new addition to your luxury watch collection you need to be smart. Don’t let emotions influence your buying decisions. With any business deal you need to weigh the pros and cons. Ask questions. A lot of questions.
Do your home work on a particular watch model before spending the money. Find out the condition, find out the going market value (private and retail), find out the serial/model numbers, and be studious in your research. Take it a step beyond “does it work?”
The more you know about watch movements, model types, and their original features the better off you are. Gaining this knowledge for some has been a life long quest, but for others it could be a casual hobby. How much you learn depends on how much time you can dedicate to becoming a Master Watch Collector. There are a lot of books, forums, and website that can help you achieve the knowledge base required to make these smart buying decisions. Have fun, but also have patience because it’s not about the destination, it is all about the journey.