Navigating today’s luxury watch market can be surprisingly complex. Beyond the increasing variety of models and brands to choose from, buyers must also decide between purchasing something new, pre-owned, like new, or vintage. Intriguingly, the benefits of buying from each might surprise you.
Even though purchasing a new watch can be a unique joy, there is a common misconception that pre-owned and like new watches can’t exist in the same league of value and quality as their brand new counterparts.
In fact, you can save hundreds or even thousands of dollars by being open to watches considered pre-owned, like new, or vintage. If a watch is missing the original box and papers, what impact, if any, does that have on the inherent value of the watch itself?
Beyond that, what’s the real difference between a new and a like new watch? How can you tell whether a luxury timepiece is considered vintage? What’s the best time to buy a pre-owned watch if you want to maximize its value?
We’ve answered these questions and highlighted the benefits and differences between each of these conditions below:
New
A new watch is from an authorized dealer and has never been worn, which means it should be in pristine condition. It comes in an original manufacturer’s box with papers and a dated card of certification. New watches typically carry a manufacturer’s warranty of 2-4 years depending on the brand.
The best part about buying a brand new watch is that you are the beginning of its journey, timeline, and story. The pristine condition that it arrives in is a major benefit, of course, but it’s the emotional aspect of original ownership that often appeals to collectors. This pull is especially strong when thinking about designating it as a family heirloom or something symbolic.
PRE-OWNED
Any watch that has been used in the past 25 years can be considered pre-owned. The condition and quality of these can vary greatly, so it’s important to find out as much as you can about the appearance and health of the watch before buying.
One of the most irresistible aspects of buying a pre-owned watch is that it is quite likely to increase in value as it ages. Because it would not be old enough yet to be considered vintage, you should factor in how the condition, original price, exclusivity, and future inflation might impact its value over time.
Pre-owned watches are often traded in right off the wrist, which means missing box and papers are not uncommon even if the watch is in near-perfect condition. If you’re willing to ditch the box and only buy the watch itself, you could save yourself hundreds of dollars. Stand-alone original boxes can be purchased many places online, so don’t let missing accoutrements get in the way of snagging an incredible deal.
LIKE NEW
Sometimes called ‘never worn,’ a like new watch can be anything from a store demo that sat behind a glass case forever to a personal purchase that was worn for a single occasion (or not at all). Many like new watches have been sitting in a safe for years, or are the result of a dealership overbuying a quantity of them.
Like new watches often have an incredible value because they can be in as good condition as a brand new watch, but for a fraction of the cost. Similar to pre-worn watches, missing box and papers can lower the asking price of the watch to something entirely affordable without there being anything wrong with the quality of the watch itself.
One caveat to keep in mind is that while the box and papers add little value to the purchase, the dated card of certification is usually worth 10x more than both. If a boxless, like new watch seems priced higher than it should be, it could be because the card is still a part of the bundle.
THE VERDICT?
Ultimately, you are much more likely to get the best bang for your buck by ditching the box and focusing on the watch itself. So much of the industry appeals to the emotions and psychology of buyers, convincing them that a boxless watch is incomplete or less-than.
While it’s true that there is an undeniable pleasure and thrill to being the first to unbox a brand new watch, being open to buying pre-owned, like new, and vintage watches will broaden the possibility of what masterwork is added to your collection next.
And you’ll save a ton of money, too.
