Tagged: Hidden Costs of Luxury Watch
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March 9, 2024 at 1:10 pm #2947The Hidden Costs of Luxury Watch Investment: Maintenance Matters
The allure of luxury watches goes beyond mere timekeeping; these timepieces are treasured for their cr
The Hidden Costs of Luxury Watch Investment: Maintenance MattersThe allure of luxury watches goes beyond mere timekeeping; these timepieces are treasured for their craftsmanship, heritage, and potential investment value. Recently, the watch collection market, once the domain of a select few enthusiasts, has seen increased interest from individuals looking to preserve or even enhance their wealth through horological investments. While the appeal of owning a prestigious timepiece is undeniable, it’s essential to be aware of the ongoing commitment they require, particularly in terms of maintenance.
Understanding Maintenance Costs
Investing in luxury watches isn’t a set-and-forget affair. Industry insiders caution that regular maintenance is a non-negotiable expense for preserving a watch’s value. On average, the cost of maintaining a simple-function luxury watch over 30 years can amount to about 60,000 yuan, considering the current rates for standard servicing.Why Regular Maintenance?
Luxury watches are designed to last generations, but this longevity requires more than just safe storage. Regular cleaning and servicing are paramount to ensure optimal performance and to maintain or increase the watch’s resale value. According to Cartier, maintenance is primarily about cleaning the movement and adjusting the viscosity of the lubricants. Omega notes that the need for regular servicing varies depending on the watch model, climate, and the wearer’s habits. Maintenance generally includes replacing water-resistant components, testing timekeeping performance and energy consumption, cleaning the movement, and caring for the watch’s appearance.Servicing Costs Across Brands
– **Patek Philippe** advises customers to have their watches serviced every 3-5 years, with simple function watch servicing starting around 6000 yuan, not including the cost of polishing the band.
– **Rolex** recommends servicing approximately every four years, with costs ranging from 1000 to 3000 yuan depending on the model, mainly for movement cleaning.
– **Omega** offers a 2-year warranty and suggests servicing every 4-5 years, with the cost proportional to the watch’s value.
– **Cartier** recommends a service check every five years, including movement cleaning and waterproof gasket replacement, starting from 3000 yuan for leather bands and higher for metal bands due to polishing.Routine Maintenance Should Include
– Disassembling and inspecting all components
– Cleaning and replacing essential movement parts
– Lubrication and adjustment
– Replacing the crown, bezel connectors, and case back connectors as needed
– Quality control testingInvestors in luxury watches should pay close attention to the different maintenance services and prices offered by various service centers. It’s not just about the initial purchase but the ongoing care that ensures the timepiece retains or appreciates in value over time.
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