Ten Priceless Tips for Novice Watch Collector Hoping to Build Timeless Watch Collections (Part I)
Savvy watch collector are never born. They’re made using a very precise recipe that includes personal taste, earned knowledge and an insatiable appetite for the best. Are you a novice watch collector with a passion for timepieces that has you destined to become a seasoned expert? Yes, your passion can guide you to procure and curate a personalized collection featuring pieces from Rolex, Audemars Piguet, Cartier, Omega and more. Take a look at a quick guide to becoming a collector at your personal pace.
1) Use Knowledge From Auction Houses
You don’t necessarily have to be a client of Christie’s and Sotheby’s to take advantage of the vast wealth of knowledge housed within these iconic entities. You can simply use listings from these esteemed auction houses to track what the resale market dictates at the moment. You can use that knowledge when working with your preferred vendor or auction platform.
2) Build a Relationship With a Dealer – Watch Collector
The watch world is all about connections. You simply need to have a relationship with a dealer if you want to be able to access timepieces when they become available. This is especially true for limited-edition releases. Collectors who choose the Lido Watch Club get highly personalized service with “insider” perks.
3) Understand the Market and Sellers
Sellers have many different approaches and motives when listing their watches for collectors. You can’t be a good buyer unless you understand sellers. Simply chatting with other collectors or spending time on review sites should help you to avoid the “bad apples” in the watch world. Additionally, using a platform like the Lido Watch Club can give you the resources you need to become an informed, educated buyer.
4) Do a Little Homework on Specific Watches
Diving into the watch world requires you to gain an understanding of the intricacies of pre-owned watches. A collector should never assume that a watch can be repaired or restored back to its original form. Some watch brands are notorious for not offering replacement pieces and components for watches. Other brands are willing to authenticate and repair watches that have been purchased on the second-hand market. This includes brands like Breguet and Patek Philippe.
5) Know Which Pieces Are Worthy
As a collector, you’ll soon become very familiar with the concept of a transitional timepiece. What this means is that a particular model was the last in a series prior to a brand’s decision to do a “refresh.” As a result, these last-of-their-kind pieces become more valuable. Most become collector items. This is important to know as you browse collections. A watch that was released as the ultimate model before a redesign should usually be viewed as a treasure.
The remainder of the Ten Priceless Tips will be revealed next week…