Diving into the pre-owned luxury watches market in Singapore can be tricky. To ensure you do not regret your decision, there are a few things you need to know first. That is why we will walk you through all you need to know about buying a pre-owned watch. With our advice and tips, we hope you feel empowered and ready to get your hands on a great watch. So, before you search for your next dream watch, look at this guide.
What Are The Different Types of Luxury Pre-Owned Watches?
Luxury pre-owned watches are classified according to their age, availability, and popularity among collectors and aficionados.
Modern luxury watches
These are watches from existing brands that are still in production. Since depreciation takes place when the original owner buys the watch, the second buyer can often purchase it at a better price. Buying a high-quality, modern, pre-owned watch has value, especially if it has become a classic or comes from a well-known brand with a history of rising value.
Discontinued luxury watches
Watch manufacturers frequently update their models with minor design variations or, in some instances, keep the same design but offer an updated movement within the case. Because of this, previous models are gradually phased out of the production line and into the boutiques until they are discontinued.
Due to the limited availability of some discontinued models and their unique features, some can become collector’s items. For instance, the Rolex Submariner Date 116610LN immediately became a hot commodity among enthusiasts once it was discontinued in September 2020, causing its prices to skyrocket.
Vintage luxury watches
Most of these watches are at least 20 to 30 years old, and some are older. Depending on their model and condition, they are often classified as collectibles and can cost more than used timepieces.
Over time, many of these watches have appreciated significantly and are worth far more than when they were first purchased. For example, a vintage Patek Philippe Henry Graves Supercomplication sold for $24 million at Sotheby’s 2014 Important Watches sale. While not all pre-owned watches command such high prices at auction, there is still a good chance that you will see significant equity appreciation.
Where Can You Find Authentic Pre-Owned Watches in Singapore?
If you are looking for a genuine used watch in Singapore, there are plenty of places where you can explore it, such as:
Online marketplace
There is no question that Carousell is one of the most popular pre-owned markets nowadays. First, you must carefully check the seller profiles and prioritise someone with high ratings and good reviews. Look for listings that come with a box and necessary papers, as all the details, including the reference and serial numbers, are readily available for verification. Be aware, though, that many replicas also come in complete sets.
Also, you must ensure you are comfortable with the private sellers before meeting them. Try to establish a relationship with them and inquire as much as you can about the past of the watch you are interested in. Encourage them to provide you with videos and images of the timepiece from all angles and ask related questions such as:
- How old is it?
- Is it still covered by warranty?
- Did you buy it locally from an authorised dealer?
- Is it serviced?
- Are you the first owner of the watch?
Additionally, before the meeting, ensure you note down the reference number and time of manufacture and have a photo of the watch for reference. You can also ask for the timepiece to be checked for authenticity by an authorised service centre or a certified watchmaker at your own expense. If you do not have experience buying a luxury watch, bring a friend familiar with the watch brand so they can look at it with you. Also, do not forget to double-check that the serial numbers on the timepiece match the ones on the back during the meeting.
Pre-owned dealer
Another way is to go to an authorised dealer with a physical store that sells a large selection of second-hand watches at various prices. These dealers take their reputation seriously and would not want to risk selling you a fake watch. Most of them are watch collectors and aficionados with many years of experience, so you will get better advice and help from them.
Here at Watch Capital, we are proud to offer a wide range of pre-owned watches from renowned brands in the industry. Our collection features some of the world’s most iconic timepieces, including watches from Patek Philippe, Audemars Piguet, Rolex, and many more.
We inspect every item we buy or send to you to provide our customers with the highest-quality timepieces. This includes authenticating watches and refurbishing them to restore them to their original glory. Since we believe in fair trade, we take all necessary steps to ensure that any second-hand timepieces we send you are not of illegal origin.
It is important to note that this is a general guide and should not be taken as an absolute rule of thumb. If you are ready to take the next step, check out our extensive collection of used watches online at our website. We are also available on popular social media platforms like Carousell and Telegram. If you have any questions or have spotted a particular watch you would like to see in person, feel free to send an enquiry or book an appointment with us today!
