Smartwatches seem to be the latest craze in the watch world, but like any new technology, they will become outdated when the next model is released. Instead it is wiser to invest your money in antique watches, that keep and increase their value over time if they are maintained well.
The increase in luxury assets in recent years has seen the watch market thrive and flourish. What makes antique watches desirable investments is the accessibility of information regarding their value. People can educate themselves quickly and easily about the history of watches and which brands and models are better investments, which has resulted in more confident watch buyers. If you’re new to the collectors circle it can often be difficult to know which watches to go for, but turning to a local watch specialist or doing your research on the internet can soon teach you what to look out for.
If you’re starting your collection, it’s best to start with brands like Rolex and Patek that traditionally retain their value. Additional brands that are recommended to look out for are Omega, Heur and IWC as they also retain their value.
In recent years, the Patek Phillippe watches have performed well in the market, and have been seen as a clever investment by experts. This point was only recently highlighted by a 1933 Patek Phillippe Supercomplication pocket watch that smashed price record in 2014, selling for a staggering 23.2m Swiss francs (which equates to around a tidy £19M).
There are many compelling reasons to invest in antique watches, from the beautiful craftsmanship to the sense of history; one important reason, from an investment point of view, is down to HMRC regulations. HMRC rules indicate that any personal possessions that is judged to have a lifespan of less than 50 years are exempt from capital gains tax.
It is always advised that collectors should remember that investments in antique watches is all about the long-game, as you will be holding onto these assets for a long time to allow their value to increase. That is why many watch enthusiasts don’t collect solely for the profit, but also for the joy of owning a stunning timepiece.