Watches Are Yet Another Easy Way Rich People Make Their Money Into More Money (Published 2019) (2024)

FAQs

Why do rich people collect watches? ›

They want to satisfy their craving for collecting expensive stuff. Symbol of achievement: The main purpose of wearing watches is to know the time, and this requirement can be fulfilled with any ordinary and typical watch. But billionaire love wearing expensive watches as it is a symbol of success and royalty.

One of the most common and easy ways to make money is "buy low, sell high". So, if you want to make money by trading watches, the rule is to buy the watch that is under market price, then sell it at the market price, and you will make some profit.

In a sense, a watch is just as much an investment as a stock, bond, or real estate. An investor must be willing to wait for a period of time to see a return on their investment. But the great thing about owning a watch is that it can be used. However, some collectors keep their watches unwrapped.

Sources trace the belief that giving a watch as a gift brings bad luck back to China many years ago, where the visual appearance and sound of words can often give them double meanings. When the Chinese characters for “watch” and “gift” are combined, they sound very similar to the word “funeral” when spoken out loud!

The best watch brands for investment are Rolex, Patek Philippe, and Audemars Piguet as they are prestigious, exclusive, high-quality brands. Watches by these brands often hold their value or appreciate in value over time. Their ongoing popularity, limited editions, and scarcity drive increasing prices.

After all the parts are completed (a ceramic bezel is supposed to take 40 hours to create), it's estimated that Rolex watchmakers need at least 3 hours and 30 minutes to assemble and complete the build of a Rolex watch.

The easy answer: Rolex, Patek Philippe, Audemars Piguet, and popular independents such as F.P. Journe and Akrivia. The vaguer answer: Watches of good investment value can be found across the full spectrum, from Swatch and Seiko to the upper echelons of masters like Philippe Dufour and Roger W. Smith, model dependent.

What is the cheapest Rolex? ›

What is the best and cheapest Rolex you can get? Any Air-King, Datejust, or Explorer on our list are fantastic choices if you're looking for a cheap Rolex watch. Still, a popular opinion among many Rolex enthusiasts is that the Air-King is the best affordable Rolex.

An investment in a luxury watch is much less risky. It is closer to an investment in raw materials like gold or other precious metals. Not only is the watch typically made from these precious materials, but it often holds its value. This can rise at a higher rate than the raw materials themselves.

1. Rolex. Rolex is a Swiss luxury watch manufacturer based in Geneva, Switzerland. The company is well-known for its high-quality and precision timepieces, and its watches are considered some of the world's finest.

It's a Casio. And the dial, surprisingly, has a story to tell. On any given day, the answer to the question, “What's the cheapest watch in the world” depends on where you look and what you look at, but a good candidate is often a humble little piece from Casio that doesn't have any name other than EAW-MQ-24-7B2.

In addition, luxury watches are often considered to be an expression of status and wealth. People who wear a luxury watch may be perceived as successful and wealthy. This can be a major factor for some people when purchasing a luxury watch. Luxury watches also appear frequently in popular culture.

The psychology of collecting is rooted in the joy of discovery and the satisfaction of acquiring something valuable. As men build their watch collections, they establish a sense of identity as collectors, a title that carries prestige within the watch enthusiast community.

Luxury watch brands naturally aim their efforts at an affluent clientele. I have noticed, however, that most watch aficionados I meet have pretty regular jobs. And with pretty regular jobs come pretty regular incomes.

Watch collecting can also have therapeutic benefits, despite what many might think. The release of dopamine that we get when we buy a new watch is so amazing but addictive, that at times we find ourselves craving another new watch within weeks of just buying one and in some extreme cases in just a few days.