Recently, we have looked in some depth at the luxury horological trends that can be expected to arise over the course of the next 12 months. Following on from these observations, it is interesting to take note of an associated pattern that is also developing alongside the modern demand for luxury watches; specifically that of second hand watches. Even though the economy is stabilising, pre-owned luxury watches have been greatly rising in prominence, and such is the calibre of Swiss luxury timepieces that only the most discerning eye could identify their vintage nature.
The appeal of luxury watches comes from their exclusivity, and the major attraction of a pre-owned watch comes from accessing such a status symbol at a less substantial price. Many of the most popular watches, such as the Rolex Daytona, are perceived as being out of the reach of the average consumer, so the second hand market for such timepieces can be fiercely competitive. Some luminaries have noted that the Daytona holds its value so effectively that a second hand variant does not always actually come with the added benefit of a lower cost. However this is not always the case, as our very own stunning second hand Daytona watch (pictured below) will ably attest.
This peerless second hand Rolex steel and gold Daytona watch represents a staggering saving of £4750 when arrayed against a new model, which would retail at £11250, yet from its unblemished form one would scarcely even realise its pre-owned nature.
For certain buyers, the ‘stories’ contained within second hand wristwatches are of value in themselves. History and heritage are treasured concepts in modern society, and the increasing success of vintage items goes hand in hand with the sale of pre-owned luxury watches. When coupled with the intrinsic appeal of a luxury wristwatch, a particularly storied history can make a pre-owned timepiece, such as this celebrated Omega Moon Watch (pictured below), disproportionately appealing.
Any luxury watch is an investment, with a lifespan that will enable it to be passed down from generation to generation, so a previous owner is certainly not an automatic drawback. However, this ex-display limited edition Omega Speedmaster Moon Watch comes with the added prestige of being part of all six lunar missions, so our retail price of £5150, a saving of £1650, is all the more remarkable.
Another benefit that can be attained from the purchase of a second hand watch is the ability to customise the timepiece. Numerous buyers see the acquisition of a second hand wristwatch as an opportunity to replace worn parts, or even seek further restoration, and these augmentations can not only restore such a watch to a totally ‘new’ aesthetic, but can also help to create a genuinely unique visual statement. With all things weighed in the balance, the main danger of a pre-owned watch comes from the sad preponderance of counterfeit timepieces on the market; and that is why it is integral to buy from an official supplier.
At Banks Lyon, we are proud to be a fully authorised stockist for all the Swiss luxury timepiece brands that you could possibly wish to see. Because we source all of our watches directly from the manufacturers, and similarly verify the provenance of our second hand stock, you can always be entirely certain that our watches are of the utmost quality. Enormous savings are accessible through all of the second hand watches in our stock, so the opportunities we offer for a genuine horological investment really are unparalleled. To find out more, please call our helpful team on 01524 38 48 58 and we will be delighted to assist you.
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