As the Malaysian economy continues its booming growth, now is a good time to invest in luxury items, like building a watch collection. But you need to ensure you go about growing your watch collection the right way, or you could wind up spending a lot of money on watches that aren’t worth what you paid.
Whether you are looking to start a collection of new watches, vintage watches, or a combination of both, the following tips will help you to choose and buy wisely.
- Research Market Values You need to learn current market values for watches. The price of Tag Heuer watch in Malaysia might be more or less than in other locales, for example, so you need to shop around when buying locally. You also can check the catalogues of prominent auction houses, like Sotheby’s, Christie’s and Phillips, when looking to buy vintage watches to learn their current values.
- Get to Know Authorized Dealers Malaysia has many watch dealers authorized by the top brands, and you need to get to know who and where they are. When you have a good relationship with an authorized watch dealer, it’s much easier for you to obtain a rare or special run of watches by a Rolex or other prominent brand.
- Know the Watch’s History If you are buying a vintage watch, you need to know its history. That includes any repair work done on it, and if any parts have been replaced. The value of vintage watches can vary greatly when they no longer are in mint condition and have had work done on them.
- Don’t Invest in Your Collection While some watches might increase in value over time, most do not, and you need to keep that in mind. While a quality watch collection will hold value over time, anticipating an increase in that value is a mistake, as demand and values change often.
No matter which kind of watches you like to collect or how large your budget is, when you take the time to properly research your purchase, you generally will save money and buy quality watches. Over time, that will help you to build a great watch collection that will hold at least some value over time.