Sales Strategy
Selling The Difference Between A Watch And A Timepiece | February 16, 2022 (0 comments)
New York, NY—If you need any more proof of the luxury watch market’s increasing appeal to women, just turn to online fashion and lifestyle site Refinery29, which recently ran an in-depth article geared to helping fashionistas understand how to invest in a luxury timepiece. Image: Cartier Tank Must
The site, which is mainly targeted to Millennial and Gen-Z women, begins its instruction with something worthwhile for jewelers to keep in mind at the counter: explaining the difference between a timepiece and, well, just a watch. No doubt everyone understands that a Rolex is a timepiece and a Timex is a watch, but even pricey models from storied luxury brands like Hermès and Chanel are still, in the eyes of investors, just watches.
Refinery29 explains how fashion watches are more seasonal, whereas timepieces—from the likes of Rolex, Cartier, and Patek Philippe—are classic and going to retain more value than watches, even those from brands like Hermès and Chanel. If investment is the goal, better to buy a handbag from Hermès or Chanel than a watch.
“Although fashion watches come at lower price points (by luxury standards that is), their trendy elements and jewelry-like design reduce their life span, versus classic timepieces from brands that specialize solely in timepieces,” says the article.
Not surprisingly, Rolex is the top watch brand for resale, and other top brands like Patek Philippe, Audemars Piguet, and Richard Mille also often bring returns higher than their original price. By contrast, new watches from brands like Hermès or Chanel typically cost considerably less than their popular handbag models, some of which—new or used—can rival a Rolex in price.
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For first-time luxury watch buyers on a budget, Refinery29 suggests Cartier as a good point of entry. Its timepieces are on the more affordable end of the luxury price spectrum, the styles are eminently wearable every day, and though it’s a highly sought-after brand most of its timepieces are not that rare, so it’s possible to pick up a secondhand one such as a Tank for under $3000.