With the exception of Rolex, few high-end watchmakers have household names, but collectors, dealers and luxury pawnbrokers know what timepieces hold the most value. Prices on watches vary for a multitude of reasons, and it takes a pawnbroker who is familiar with the luxury watch industry to accurately value your watch for a collateral loan. Below are characteristics of high-end watches and why they are so valuable.
Craftsmanship – Luxury watchmakers have innovated and perfected watch movements and design. The majority of these watches are not just basic timepieces but have specialized complications; from moon phase and power reserve indicators to minute repeaters and tourbillon escapements. Companies such as Audemars Piguet, Panerai, Jaeger LeCoultre, and Rolex have spent decades (sometimes centuries) perfecting their in-house movements and even supplying other luxury retailers with their movements. The suburb workmanship of these watches guarantees that they will last for generations, and collectors are willing to pay the price.
Rarity – High-end watches are more expensive for a variety of reasons, but affluent collectors appreciate their rarity first and foremost. Upscale manufacturers like to create limited editions to their already exclusive lines to make a certain timepiece even more elite. The Audemars Piguet Roal Oak Offshore for example has many limited edition timepieces – but for an exclusive and extremely rare watch, the Vacheron Constantin Historiques American 1921 Boutique, which has only 64 pieces, is the one of the ultimate limited-edition watches.
Innovation – Much like the technology in just about everything these days, watch manufacturers are always looking for new ways to revolutionize the timepiece market. For instance, Piaget created the world’s thinnest mechanical watch at only 3.65mm. Rolex, Audemars Piguet, Van Cleef and Arpels, and Jeager LeCoultre have also all created new and exciting complications that have changed the industry. This ingenuity proves that high end watchmakers truly deserve their superior reputation.
Status – There is no question that wearing an upscale watch will make a big status statement– whether the piece is discreet or not. Patek Philippe, Cartier, Rolex, A. Lange and Sohne and Franck Muller are some of the most recognizable watchmakers, and can easily impress those who are in the know.
Value – Purchasing a top of the line watch is a smart move for any individual who may be looking to upgrade in the future. These watches hold their resale value much more than any everyman’s watch. Because of the strong reputation for quality, craftsmanship and rarity, dealers and collectors alike are much more willing to pay for a “discounted” luxury watch than pay retail for a generic watch. New York Loan is experienced in working with these signed watches and can appraise watches for both pawn loans and outright sales.
New York Loan Company’s gemologist loan officers have the skills and knowledge necessary to accurately value watches, especially since they have access to some of the finest timepieces in the world on a daily basis. New York Loan is a family business that makes pawn loans on diamonds, jewelry, watches, modern and contemporary artwork and one-of-a-kind memorabilia.
It’s easy to inquire about either loaning, selling or purchasing a watch from New York Loan Company. Please call at 212-997-5626 or email at email@example.com. New York Loan has discreet offices located in the newly constructed International Gem Tower located at 50 West 47th St.