Why do people buy watches? Well, for many people, they buy casual watches in Malaysia as a means to tell the time and that’s pretty much there is to it. However, some watch enthusiasts would argue that the wearable timepiece is more than just a simple accessory; it is indeed a worthy investment.
Unlike stocks and bonds that you are sure that will appreciate in value over time, many people do not deem watches to hold the same degree. Sure enough, there are only a couple of passionate collectors that will always say otherwise, but the vast majority of people say that it is just a simple accessory that tells the time.
How Watches Became Popular?
Pop culture has indeed influenced the minds of many, especially when it comes to wristwatches. Prominent figures such as James Bond, for example, have worn such amazing watches back in the day.
Rolex watch is one of the most popular brands ever since James Bond wore them in some movies. But before that happened, Rolex was just another brand in a sea of many others.
Since then, people grew fonder of watches and some have especially focused their attention on the mechanisms that are built into the watch; how they tick, their types, and so much more. Even though it was popularized by pop culture, only Rolex and Omega hold so much value on the second-hand market, at least, for quite some time before others chimed in.
As mentioned earlier, Rolex and Omega watches have made their mark in the watch industry, but the former company actually holds an edge over the latter. The reason why Rolex is more popular than Omega, Rolex creates a limited lineup of watches that makes them more appealing to people due to its rarity.
Economists would say that it doesn’t matter if the watch that you produce is expensive, so long as it doesn’t stay long in the market, people would always but them because of scarcity.
All of the luxury watches or those that are priced higher than $2,000 typically hold their value for a pretty long time. In fact, there are brands that have pretty huge resale value if you hold on to them for a couple of decades.
One of the most prominent brands in existence is Patek Philippe watches. They hold incredible value even if the watch is pretty old. In fact, there is one that was sold for more than $40,000 on the used market!
Watches that are considered vintage and iconic can also hold up its value for a very long time. In fact, its value may rise exponentially, but do not expect all of these watches to have the same value to that of other brands.
So, are watches a good investment? Well, it depends. If you are buying luxury watches, for sure, they are a good investment because they are made in such a way that it will last for a very long time. However, you have to choose the right watches because not all wearable timepieces hold the same value.