I posted early this year that the wife was getting a new car and I that I was selling a few of my watches to get some cash for this. I was for the most part successful i.e. I sold every watch for more than I bought it for.
This whole exercise reinforced my belief and what I have always said to my friends who ask me why I mainly buy Rolex watches and not other brands as “investments”. In Singapore, and perhaps in the rest of the world, Rolex’s are quite sought after and their price keeps appreciating. There is of course the high end collectors market where watches sell for between $50,000 – $300,000 or more. I am not in that realm of collecting so cannot comment on that part of the market.
For the modest collector or person who likes wearing a nice watch and who would like to be able to sell or trade the watch in if they want to, I would stick with Rolex. Over the last few months, I have noticed that prices have started to move upwards. For example, my friend Martin is in the market for a 50th Anniversary Submariner. When I was looking late last year, fairly new models with box and papers were selling for about $5000. They are now more in the $6000 mark or more.
I have noticed the same thing happen with Sea Dwellers and Pepsi-Cola or Coca-Cola GMT’s. Needless to say the Submariner always holds it price and more. The moral of this story (especially for my friend Franc who is thinking of getting an Omega GMT) is BUY A ROLEX!
They also look better 🙂