When it comes to buying luxury items, part of the reason that we buy them is that notion of ownership; luxury isn’t often connected with buying things that have been pre-owned or second hand. However, there are exceptions to this notion. Consider art. Think about classic cars. What about pre-owned luxury watches?
Rather than a compromise, buying a pre-owned watch is the very best way to get your hands on a collectable that you simply can’t buy from new. Because highly sought-after watches can pop up from time to time because people are looking for different models, it actually makes a pre-owned watch purchase the smartest option around.
Where Can I Buy a Second Hand Watch?
There are many different online e-stores that offer second hand watches, including eBay, but it is something that needs more careful consideration if you are looking for a high-end luxury brand watch. For the finer watches on the market, such as Omega, Rolex Hublot, you may even be able to pick these up at auction – but you always run the risk of being outbid. If you know the make model that you want, then a reputable pawnbroker – such as Suttons and Robertsons – should be your first port of call for good value, second hand luxury watches.
Buying Second Hand From a Pawnbroker
One of the most important aspects of buying a luxury item, like a Rolex, from a pawnbroker is that you can be sure that your purchase is bona fide. A luxury London pawnbroker since 1770, our team knows what they are looking for in terms of authenticity traceability. Simply put, we don’t just buy any watch that we see. Each watch must meet a stringent set of criteria pass checks before we purchase it in the first instance.
Supply Demand of Luxury Watches
Many of the best watchmaking brands in the world share something in common – greater demand than supply. It’s not surprising; these brands stick to their production numbers then stop. It’s a simple but very effective way to create a buzz around their brand. This means that many models have years-long waiting lists to buy from new.
By opting to buy second hand, you can simply leapfrog the queue move straight to the front – especially if you are thinking about a Rolex.
Bursting The Watch Brand Bubble
At Suttons and Robertsons, we appreciate each every preowned watch that we welcome in our London stores. We know that there is a great story behind each watch that every new owner adds a little of their own magic to the watch when they own it.
What we don’t have to consider is the need to hike the costs up unnecessarily because it is a particular brand. It means that you’ll get more watch for your money you increase your chances of paying less for a sublime watch than you would if you purchased from new.
Second Hand Watches Depreciate More Slowly
Like cars, watches usually suffer the greatest depreciation in value when they are purchased used for the first time. If you purchase a watch at a certain point in the resale chain, after buyer number one, you increase your opportunity of buying at a lower price reselling at a higher price. This is because second hand watches can start to rise in value as they become sought-after models or good ‘vintages’. The value can also continue to increase with every year that passes since the watches’ production.
A Much Greater Selection of Watch Brands Models
As pawnbrokers, we are regulated by The National Pawnbrokers Association, of which Suttons and Robertsons are proud members, however, this doesn’t extend to the makes models that we can sell – unlike official retailers. We’re not constrained by brand restrictions, which means that we will feature second hand watches from a number of brands, with several models that stretch back over years. You may be able to pick up a classic Rolex model from the 1960s or purchase an Omega from 2012, the same year that the brand managed to timekeep the Olympic Games to a millionth of a second. By purchasing from a pawnbroker, you may even be able to purchase an aviator watch that has been put to the test by a pilot-owner. It’s simply a much more interesting proposition than buying from new.
With Rolex, Omega, Breitling Patek Philippe making changes to their product lines every year, it can make it harder to find a watch with the features that really capture your imagination. In January 2021, Omega discontinued the old Speedmaster model in favour of a new one. Second hand is your only real opportunity to purchase the older-style model. The same can be said for the Rolex Submariner with a date dial.
Second Hand Watches Have a Better Resale Value
Buying a second hand watch like a Rolex as an investment can be a smart move. When luxury watch brands stop making certain models, they tend not to bring them back to life again. This instantly raises the value of these models.
Suttons and Robertsons – Buy a Second Hand Watch Today
The team at Suttons and Robertsons are fortunate to work with some outstanding makes models of watches, from the more unusual Hublots to Patek Philippe’s Grand Complications. We inherently understand the value that is held within each watch that we see, whether its for purchase from us or you would like to take out a loan against your watch, or indeed sell your watch for resale. It’s a very simple process our team will be delighted to assist you. Call us today or visit us in one of our London stores.
