Did you know that, according to Investopedia, there are 2,755 billionaires in the world? Only a handful of them, 10, has a net worth of $100 billion or more. Many are technology company founders that have a large amount of the wealth they have wrapped up in those companies.
Whether you’re hoping to become a billionaire or to simply grow your wealth, there are many ways to invest so you make more money over time. One of the ways to do this is by investing in investment watches.
However, if you don’t know how to get started, this can be stressful. How do you find the best investment watch for you?
Fortunately, in this article, we’ll review how you can choose your first investment Rolex. Finally, you can get the best Rolex investment watch for you. Read on to learn more.
Keep an Eye on Prices
One of the most important strategies you can use to choose the right Rolex as an investment watch is to keep an eye on prices. As there’s a booming market right now, you can get this information and buy a watch for less after which you’ll sell it when the price goes up.
Buy Watches That Are Pre-owned
When you’re deciding which Rolex to buy as an investment, it’s smart to buy a watch that’s pre-owned. This is an easy way to save money when compared to how much you’d spend on a new watch, and chances are the price will rise significantly over time.
This is because Rolexes are high-quality, valuable watches, so even if they’re pre-owned, you’ll be getting a valuable watch.
However, make sure that the pre-owned watch you buy has a warranty and is in good condition. This will be a better guarantee of the watch having good enough quality that you’ll be able to sell it later for a good price.
Consider Unique Pieces
Another strategy you can use when choosing your first Rolex is to consider unique pieces. Are there any watches for sale that are limited edition or special designs? These might be great if you’re looking for something special as an investment.
Additionally, be on the lookout for collaborations between brands. These are unique and might go up in value over time.
Make Contacts in the Industry
When you make contacts in the investment watch-selling industry, you’ll be able to jump to the front of the line when a watch goes on sale. Additionally, you might be able to buy the Rolex at a price that’s even lower than what you’d pay for it in retail.
Additionally, when you sell the Rolex later on, you can sell it to a collector directly.
This will get you more money, as you won’t have to pay commission like you would if you were selling through a third party or auction house.
Generally, Don’t Buy Quartz Watches
When it comes to the types of watches to invest in, it’s best to stay away from quartz watches. For purposes that are knock-around sport ones, this is fine, but generally, very few quartz watches have value. One of those that do is the Rolex Oysterquartz.
Buy From Retailer That’s Reliable
When you’re buying a Rolex as an investment watch, you should buy from a retailer that’s reliable. This is the only way that you can guarantee that you aren’t buying a fake Rolex, especially as these alternative assets become more popular.
Strapped for Cash? Go for Investment Watches With Straps
If your funds are limited but you still want to experience getting watch resale value from a watch you invest in, you can focus on buying Rolex watches that have straps instead of a bracelet. Bracelets can add a lot to the cost, especially ones that are gold.
Ask About the Six Month Guarantee
If you’re buying a watch that’s being sold as a serviced watch, make sure that they offer a guarantee that lasts at least six months. Additionally, watch out for the “as seen” red flag. If you come across a watch that includes this red flag, don’t buy it.
Have Someone Examine the Watch
Before you make this investment, have someone examine the Rolex watch. If you have a friend who knows a lot about watches, they can do this for you. Otherwise, you can have a professional do this. This will protect you from making an unwise purchase.
Make the Right Move at Auctions
Sometimes, people will buy investment watches at auctions. If this is something you plan on doing, then you should attempt to attend the auction viewing before the auction itself begins. This way, you can see and handle your bidding target.
Interested in Buying a Rolex?
Now that you’ve learned about how to choose your first Rolex as someone investing in investment watches, you might want to buy a Rolex. In this case, you should consider buying your next Rolex from Gold Buyers Near Me.
Gold Buyers Near Me is a full-service jewelry online store where you can sell items but where we also sell new custom jewelry. We also buy and sell fine Swiss watches.
We are a trusted partner that you can use to buy and sell your items. To learn more about buying watches from us, check out our shopping selection now.