Attention UAE watch enthusiasts! Do you know what the annual value of the pre-owned luxury watches market is?
Well, as per the research of Jon Cox, a financial analyst at Kepler Cheuvreux, it’s approximately $25 billion. Pre-owned watches occupy a whopping 25% of the overall watch trade.
This definitely indicates the massive potential of investment in the pre-owned luxury watch market. Since you are here, this means you have probably stacked up one, or a few and plan to sell them in the future.
However, it isn’t as easy as it seems. In order to sell your watch later, you need to ensure that it holds its value, which is only possible if you take care of it in the best way possible. Don’t worry! It isn’t as tricky as it sounds. In this post, we have provided a complete guide to luxury watch maintenance so that it not only holds its value but garners a profit as well. Let’s get started!
Watch Brands that Keep Value in UAE
The luxury watch market has been one of the more established high end industries in the UAE for some time. With a growing affluent population, especially in major cities like Dubai and Abu Dhabi, consumers here love their watches.
Before we dive into the luxury watch maintenance guide, let’s have a look at some of the top watch brands that keep value. These include:
Properly taken care of, many of these can even see an increase in value over time; for instance, Rolex Submariners have been known to appreciate as much as AED35000 in recent years!
Luxury Watch Maintenance Guide
There are four main things when it comes to looking after your timepiece to preserve, or even increase, it’s value.
Proper storage plays a key role in ensuring that your watch is safe from wear and tear and scratches. You should never place it with other jewelry or at locations where it might come across such surfaces that can leave marks on it. There are four different ways in which you can keep your luxury timepiece safe from unwanted damage.
Original Retail Box
Every luxury watch comes in its own retail box, which is specifically designed based on the watch’s design, and is quite sturdy and durable. If you still have it with you, then always store your watch in it when you aren’t wearing it.
Multi-watch Storage Case
The name, multi-watch storage case, pretty much explains this storage option, which comprises various sections to store numerous watches safely and separately from each other. Features include:
Your Luxury Watches are divided into drawers. You can assign each drawer for a specific brand or movement.
They are usually made from wood with silk interior lining.
They have a window through which you can view and choose from your luxury watch collection.
Watch Winder Boxes
As you probably can guess from the name, watch winder boxes are designed for automatic watches. These watches don’t require manual winding, they do this on their own; however, this feature is normally only functional when you are wearing them.
This is where a winder box comes in. It keeps the watches automatically maintained, i.e., well-wound, when you aren’t wearing them. These boxes are expensive; but a must for any budding luxury watch collection.
If you have an extensive luxury watch collection, the best storage option in our opinion is a watch safe. You can get a specialized one, which can be used to save not only your watches, but other valuables as well. If your collection consists mainly of automatic watches, then a combination watch-winder safe would be a better option than a simple one.
There are a few watches that are specifically designed to withstand extreme conditions such as water submergence and environmental factors (think Rolex Submariner and Sea-Dweller models).
However, most of them can only bear such circumstances to a certain extent. Below, we have listed down a few precautions that will help your luxury watch in maintaining its value:
Keep your watches at a distance from speakers, mobile phones, and computers because they have magnets in their systems. Magnets reduce the watch’s precision.
Avoid extreme temperatures (below 0˚C and above 60˚C).
If your watch isn’t shock-resistant, try your best not to drop it. The impact will not only harm the watch, both from the inside and aesthetically, but it will also null its warranty.
Keep your luxury watch away from products that contain chemicals because they corrode and discolor them.
Only wear those watches in deepwater activities that are ISO 6425 rated. In other cases, read reviews, prior to submerging your luxury watch in water, to check if it’s a true Diver watch or not.
Cleanliness and service play an essential role in maintaining a luxury watch’s value. With time, the sweat and dirt from usage start entering the watch’s interior, even if it’s air-tight, and corrodes it. You can avoid this issue by keeping it clean, and getting it serviced every once in a while. Some major tips in this regard are:
Use a soft cloth to clean those luxury watches that are prone to water damage.
Clean your water-resistant luxury watches with some soap, preferably mixed with water, and a cloth.
Consult your watch manual or a jewelry cleaner in your local area within the Emirates for cleaning your watch’s jewels.
Get your luxury watch professionally serviced once every 3 to 5 years. There are a host of master watch craftsmen in Dubai, Abu Dhabi, and across the UAE who can take care of your investment.
This is a no brainer, like every other expensive item, luxury watch’s insurance is also essential for its protection. The amount that you need to invest in getting your beloved timepiece insured depends upon its cost, the insurance company, and the extent of insurance cover. Some important things that you should consider while buying your watch’s insurance include:
Check your home insurance policy; sometimes this will cover personal possessions as well.
Get your watch valued every once in a while at a certified UAE Watch Dealer because the majority of the insurers only cover the price that the watch was worth while being insured.
Check insurance excess because sometimes it ends up being higher than the cost of the watch itself.
If you plan on selling your watch, at or, higher than its original retail value, then ensure that you thoroughly follow our luxury watch maintenance guide.
Don’t Want to Sell Your Watch Forever?
We here at Buyback Bazaar love our watches, and we understand that our customers do too.
A common complaint we heard for many years was that sometimes you need short term cash, but don’t necessarily want or need to go to the bank for a short term personal loan. This got us thinking, there must be a better way to access emergency cash, right?
So that’s what we did!
We realised that whilst thousands of happy customers were trading their gadgets, laptops and more with us for access to cash instantly, there were many more of you who needed a much higher cash loan – upwards of AED500,000 at times.
So we thought, why don’t we use our special Buyback model for you as well!
What we created is the first and only Buyback scheme that guarantees you the best price, and a 100% safe service.
Here’s how it works, in 3 easy steps:
Fill in the Quote form here to send us your watch details.
Receive the guaranteed highest price across dozens of watch dealers in the UAE.
Bring your watch in for an inspection, and get cash the same day!
Once you have your cash, you’re also given the option to Buy your watch Back from us in 30 days time, meaning you get the cash funds you need urgently AND you get to keep your treasured timepiece!
Is it safe?
Inspection by a Qualified Master Craftsman
Certificate of Authentication
Storage in dealers secure vault
Instant cash payment
All you need to do is fill in the watch details through our quote form, take your Luxury Watch to your nearest registered dealer across the UAE (or have us collect it from your doorstep!) and in no time you’ll have your cash!