The $3,000,000 Patek Philippe - When to Buy New and Used Luxury Watches
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40m
Used and vintage luxury watches offer options including value, variety, and instant gratification. On the other hand, buying new watches from Rolex, Patek Philippe, and Audmars Piguet can open the door to access and dealer relationships. When is it right to buy a new watch, and when should you choose a used watch? Tim Mosso explores the world of new and used watches tonight on Watches Tonight.
Used Rolex watches fall into two groups: vintage Rolex and late model preowned Rolex. This is an important distinction, and Rolex, like Patek Philippe, is an important brand. A 1960s Rolex Daytona 6239 is a bonafide investment and bluechip collectible, but you won't find them sold new. Discontinued and important watches are "Exhibit A" in the case for buying "used" watches. No matter how wealthy, no person can pay Rolex to resume pre-Oyster Cosmograph Daytona production, and Patek Philippe won't re-issue the first series 2499. Vintage - a type of used watch - is the only option.
New watches from brands like Rolex and Patek Philippe also offer advantages. Strong brands with disciplined dealers hold fast to recommended retail prices. Getting on a waitlist for a watch isn't always fun, and it doesn't yield instant gratification. However, it is an opportunity to establish a relationship with the Rolex dealer and the brand itself. Not only will the desired watch be bought at MSRP when it becomes available, but the credibility earned by buying new and not flipping can open doors to future - and more exclusive - watch purchases.
Tonight all of the advantages of buying used watches and buying new watches will be explored in depth.
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