We've looked into watch manufacturing and posted many different posts about watch types, brands, how to buy and sell, and how to think about your collection. We've not yet addressed one important topic relevant to everyone who likes watches; how do you know if a watch is good value for money?

We're the first to admit that this is a sensitive topic, as it's deeply personal. Great value for money for one person may be a terrible deal to another. We're going to examine some of the things we consider when making a purchase as to whether it is good value for money. If you disagree with our points, lets us know, or come to one of our Events to continue the discussion in person!

If considering a watch to buy in person, or in-the-metal as we say, the thing that everyone asks themselves is whether the watch feels like it is made of good enough quality. This is kind of a vague feeling, but it is crucial. The watch has to be finished properly, with the materials working well with the design, and whatever the price point is, the feel of the watch in the hand has to justify it. The same is true when the watch is placed on the wrist, does it look like a watch of the required quality when on? This includes such details as whether the clasp and bracelet work properly and feel good, whether the strap is comfortable, and whether they case rests well on your arm. Since everyone's wrist is different, sometimes it just will never feel right, whatever the price point and quality of product. Despite this, almost everyone has an idea of what they want a watch to feel like.

With this as the starting point, you can then closely relate the design, finish, build quality and materials choices to the price point, not forgetting the importance of brand. As we mentioned in last week's article on pricing, often this is the most important part of the discussion. For many people, the feelings about the brand can't be separated from the feelings of the watch on the wrist.

If I'm looking at a watch from a small Microbrand that costs under $500, or even under $100, then I have an expectation that the quality of design, materials and finishing are going to be quite low. If I know the movement being used I might have an expectation about the accuracy and reliability of that movement, but if it's not one I know, then I would expect a movement at such a low price to be less reliable and accurate. Similarly, if I'm looking at a watch that costs $50,000 or more, I know what to expect from the materials, case, design details and finishing. I can consider the movement choice and the work that's gone into that, and then think about value for money there. If I want to buy into the history or the story of the brand or the founder (if it's a new microbrand) then I have to consider how that makes me feel, and what I want to pay for it.

I also want to consider the customer service from the brand, how the watch is packaged, whether I can get it serviced if there is a problem etc. Things can go wrong even with brand new watches and getting problems sorted easily is crucial to feeling something is good value for money. Good interactions with watch brands of any size go a long way to building the reputation of their product. For some brands an exclusive or extremely luxurious buying experience is crucial for the buyer to feel like they are getting good value for money. The luxury watch category is one of the only categories of product where some buyers feel a waiting list is a good thing as it highlights how exclusive the product is, and that matters to them.

Value for Money in the pre-owned watch market

The pre-owned watch market continues to grow as more enthusiasts find great value there. There are a few reasons for this, the first and most obvious being that you don't have to pay sales tax on a pre-owned watch. In countries like the UK which has sales tax of 20% that's a huge difference. The other reason is that people are motivated sellers, they want to move on from a timepiece quickly, have had their enjoyment of it, and are happy to get any amount of cash for it. This provides the opportunity for bargains for almost every possible type of watch if you are prepared to be patient and do your research.

Research is crucial as there are so many watches available, including fakes and so-called "frankenwatches" made up of parts of other watches. Browsing is a lot of fun but once you've decided what exact model you want you should research that more fully, look for a range of available options online, ask dealers about it specifically, and get a good idea of the market price. Once you're ready to make a purchase, the most important thing is to Buy the Seller, not the Watch! You need to carefully check out the seller, see what their reputation is like, read reviews, and ask them questions. Even if the dealer is a large established platform, you can ask as many questions as you like about the watch to make sure they've got their details right.

Resale Value

I never once think about resale value when buying a new watch, and usually don't think much about it when buying a pre-owned watch. I buy all my watches on the assumption I'm going to like them forever. This isn't the case, and I do sell watches. When I do I try to get the best price I can by doing some research and selling it in the right channel (either through a dealer, on eBay, or direct), but I don't particularly worry about the price I might get when I buy things. For some people, they want to make sure that they can sell something when they choose and this is an important factor in their view of value for money. That's totally fine, it's a different way of looking at ownership of a watch. If resale value is important to you, then it's worth checking out when making a purchase how easy it might be to sell that kind of watch, and you can do this by searching for pre-owned ones online and looking at their prices relative to new ones. This is simplistic but helps inform you as to the popularity of those watches in the pre-owned market.

Servicing Costs

The final thing to mention is that all mechanical watches need a regular service to ensure they run correctly. The time between services differs for every watch, and more complicated watches cost more to service. It's worth bearing in mind the service costs when thinking about your total cost of ownership and value for money.

Conclusion

A lot of factors go into feeling something is value for money, but ultimately, it's mostly that; you have to feel it's good value for money for you. You should do your research, make sure your thoroughly trust the seller, and if possible, feel the watch on your wrist. If you like the watch and if feels good, then you can buy it at a price that is good value for money for you. We spend a lot of time at our Watch Collectors' Club Events talking about different watches and what's better value for money. Our Events are in-person in London and Manchester, and online monthly. Find them all here.