luxury watch collection on a budget tips
Buying Tips

How to Start a Luxury Watch Collection on a Budget

A classy watch wrapped around the wrist adds more grace and charm than all other accessories combined. A luxury watch does not only make a style statement. It also acts as a long-term investment. Luxury watches don’t come in cheap though. Starting a luxury watch collection when you are on a budget can be tricky.  

It can be quite frustrating as well. You want to buy a range of classy timepieces, but your bank account tells a different story. However, there a few ways you can enjoy high-end watches without having to pay full price for them. Let’s see what those ways are: 

Buy Pre-Owned Luxury Watches 

  • You should look for pre-owned or used luxury watches if you have budgetary restrictions, or you’re smart enough to recognize you can buy a luxury watch after it’s taken its initial depreciation. Pre-owned watches can be purchased from individual sellers or watch collectors and traders like Lido Watch Club. Watch dealers have a more regulated and streamlined procedure compared to individual sellers. They provide limited warranty and have favorable return and exchange policies. 

Depending on the condition of the watch, a pre-owned luxury watch will cost you 10-40% less than the original price. While it will not be as glamorous as a brand new watch, most watches are in pretty good condition. The average onlooker will mistake it for a brand new luxury watch if you get a good deal on a pre-owned watch. 

  • Even though valuable items lose some of their value with the first purchase, their inherent value remains the same. Hence, even a pre-owned luxury watch will be a good investment – and an excellent way to transfer wealth.  

If you are looking for a reliable dealer of pre-owned luxury watches, look up Lido Watch Club. It is an online boutique of new and pre-owned luxury watches. They offer limited warranty on every purchase and their watches are in good condition. You are sure to find a good deal with Lido Watch Club. 

Engage in Sale, Purchase, and Trade of Watches 

  • If you are on a budget, you have to be smart about spending your money. As a newbie watch collector, your first goal should be to experience wearing multiple high-end watches while retaining a few of them. You can do this by selling and trading luxury watches instead of buying new ones all the time. 

Gentlemen with extensive financial resources purchase high-end watches that come with titles such as cool and exclusive, irrespective of their prices. Luxury watchmakers are aware of this fact and have exploited it to their benefit. Hence, the prices of brand new luxury watches have shot up by quite a lot in the past two decades.  

  • This has made owning luxury watches and expanding their collection difficult for the average watch buyer.  

There is a smart way to experience a wide range of watches while saving yourself from going bankrupt in the process of doing so. It is to sell what you have and trade it for what you wish to acquire. You can contact a dealer or can trade with individuals in your circle. 

  • While this trick will limit your collection of watches, it will give you a taste of a wide variety of luxury watches. Gradually, you will gain expertise in retaining valuable pieces while selling undesirable ones. Once your budget expands, you will be able to retain more high-end watches. Gradually, your collection will also expand.  

Determine Your ‘Type’ of Collection Right From the Start 

  • If you are on a budget, you need to determine which type of collection you wish to invest in. Whether you want to invest in a particular brand of luxury watches. Or you have an interest in collecting vintage watches. Some people invest in a particular class of watches which are determined by their intended use and function. Dress watches and sports watches are two such examples.  

It is better to begin with and stick to one specific type when starting a watch collection on a budget. It will save you from lusting after a variety of watches and from overspending. 

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