Beginner’s Guide: 5 Common Watch Collecting Mistakes to Avoid

Navigating a New World

Starting a wristwatch collection is a thrilling journey, but just like any new adventure, it’s also fraught with potential missteps that can lead to regret and financial headaches. Here are 5 things to avoid when navigating the exciting world of watches with greater confidence. This isn't about rigid rules, but about understanding the pitfalls and ensuring your horological journey is one of lasting enjoyment.

The Allure of Hype

One of the most common mistakes is buying what others like or chasing "hype". The internet, particularly platforms like Instagram, can create a "vortex of hype" around certain models, leading people to desire a watch not because of genuine interest, but because everyone wants a Royal Oak or a specific Rolex. This can be incredibly persuasive, especially for inexperienced enthusiasts.

The biggest con for the buyer here is that you might end up with something you don't truly love or even wear. As an collector, a watch is meant to make you happy every time you look at it. If your primary motivation is social media influence, jealousy, or the belief it's a "rite of passage" to join a community, you're buying for the wrong reasons. The true pro of avoiding this pitfall is discovering what you genuinely like, ensuring your collection reflects your unique personality and brings you continuous satisfaction.

The Overlooked Cost of Ownership

Another significant oversight for new buyers is underestimating the true cost of ownership beyond the initial purchase price. Many people mistakenly believe that watches, especially affordable ones, will appreciate in value and act as an investment. The reality is that 98% to 99% of the market functions more like the car market; once you buy a watch, its value is likely to dip immediately. The few watches that do increase in value are virtually impossible to get at list price. Trying to sell a timepiece for profit can also be difficult due to fees and the need for seller reputation.

A major con is the potential for significant unexpected expenses. A good warranty can be the difference between a great, functioning watch and a useless collection of metal parts if trouble arises. When buying pre-owned or vintage watches, it’s crucial to calculate service costs into your budget, as these can be substantial—an overhaul of a high-end piece like an A. Lange & Söhne 1815 Perpetual Calendar could cost $7000. Moreover, new collectors often have unrealistic expectations of accuracy for mechanical watches, especially entry-level ones, which may deviate significantly from perfect time. By understanding that watches are generally not investments and budgeting for services, you can buy for enjoyment and avoid frustrating financial surprises.

Navigating the Financing

While often seen as a practical tool, how one approaches financing can become a mistake if not handled with discipline. Ignoring finance options entirely can be a missed opportunity for a strategic buyer. Some companies offer 0% finance deals that allow you to keep a lump sum in your account for other financial needs, such as overpaying a mortgage or investing, offering peace-of-mind that doesn’t actually cost you a penny.

However, the issue here is that the accessibility of finance can lead to impulsive purchases. The benefits of 0% financing, requires discipline to ensure it aligns with your long-term collecting goals and doesn't encourage buying too many watches too quickly. The key is to treat finance not as an excuse for rash decisions but as a tool to manage your capital effectively.

The Importance of Vetting Your Source and the Watch Itself

One of the most critical areas where beginners falter is failing to adequately vet their source and the watch itself. Buying from an untrustworthy source because a "deal is too good to be true" is a classic error that can leave you with a fake or something not as advertised. You should always do your homework before buying to avoid bad buying decisions.

The downsides are numerous: You might purchase a counterfeit, experience disappointment due to inaccurate online representation, or find it uncomfortable or ill-fitting when it arrives. If you take to research your watch source, you build confidence in your purchase. Also always try the watch on your own wrist in person, prior to purchasing, and don’t be afraid to walk if a watch doesn't feel right, no matter how good the deal or charming the salesperson.

Avoiding Fashion Watches…Kinda Sorta

So this is probably the most controversial of the opinions, because fashion watches are where I started my watch collecting journey. I still remember buying a Movado in the mall, because it had a single marker at 12 o’ clock. The simplicity of the watch was something that I thought was so cool. So, I’m not here to disparage fashion watches, but rather I want you to know what you are buying.

While they might seem like an ideal entry into the world of luxury timepieces, fashion watches typically feature cheap quartz movements with designs are often trendy that tend to go out of style quickly. You often end up paying a premium for a brand name attached to a product that lacks intrinsic horological value, originality, or quality craftsmanship.

Beginning your watch collecting journey is an exciting time, but avoiding these common pitfalls will save you from unnecessary expense and disappointment. Remember to prioritize developing your own taste over chasing hype, understand the full cost of ownership, approach financing with discipline, thoroughly vet your purchases and sellers, and steer clear of overpriced fashion or homage pieces. The goal is to build a collection that you genuinely love and enjoy, not one dictated by others or financial speculation. So, take your time, do your research, try watches on, and buy what you like and wear what you buy. Happy collecting!

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