Have you ever wondered why some timepieces will hold their value while others will seem to not sell no matter how hard we want to rid ourselves of the piece… There are key components and elements to a timepiece that make it more desirable long term then another. Below is a list of some interesting things we often ignore when as enthusiasts buying a piece that can make a difference in the long term connection between others who may want the watch in years to come.
Top five characteristics to look for:
This is often underestimated… Was the watch endorsed or originally part of a collection made for an important figure or celebrity? Does it come with a unique story that maintains a connection that people will gravitate to for years to come? We recently released a limited edition official William Shatner piece and have found that the resell value is often higher than what people have been paying for it. This is an example of why. The connection between Mr. Shatner personally designing the piece with Egard’s CEO Ilan Srulovicz resulted in the creation of more than just a timepiece but an authentic story that will grasp people.
The Brand name and Integrity
People will often wonder why one brand with the same components sells at such a high price compared to others. The answer is simple. Branding and integrity. When a brand is unwilling to compromise and drop their prices they create a market minimum that can’t be broken for their pieces. They are investing a lot of time and money in to advertising which has value to it’s customers. Once people know the name of the watch you are wearing it is an immediate statement about yourself without having to do anything more. A brand name nice watch can truly make a difference of perception in the workplace and other environments. Don’t underestimate Brand integrity when buying a timepiece.
As mentioned above our Official William Shatner timepiece is selling at a higher rate than often purchased. The reason for this is not only the connection to the story but the exclusivity of the piece itself. The watch is limited edition and therefore people know it will be unavailable soon and they will have no choice but to pay the price of the ones that are being sold after market. If you combined this with a good Brand integrity that refuses to drop prices below a minimum simply to sell volume you will have a strong timepiece that maintains it’s value.
A timepiece that has a case shape that is not found on any other piece. Or an in-house movement unavailable elsewhere. Or some kind of material that is rare and uncommon will always maintain a higher value then those that do not. The reason is scarcity. The same way that gold on a piece has an inherent value so does uniqueness. If someone connects to the piece and wants those characteristics that are unavailable elsewhere then they have no choice but to invest the asking price to have it. When Compared to brands that mass produce factory designs that are commonplace, unique timepieces will always have the advantage.
In the modern day of social media some brands have invested more in to development of an online following and fan base. When looking at these brands you will find that consumers are willing to discuss and converse about their pieces which creates a stronger opportunity to trade and sell. Brands that understand the value of an online community are not to be underestimated as they will often take the time to connect with customers on a deeper level and allow their existing customer base to take advantage of the forum they have created.
The truth to all of this is that in the end no watch should ever be purchased with the thought of “maintaining or increasing value”. Timepieces are meant to be adored and when you fall in love with one it will immediately draw you in and cause a connection. That is the sole purpose to wear a timepiece, to mark the moments and people that matter most to us.