Why Should You Buy A Used Watch When You Can Afford A Brand-New One? Here’s Why!

It might be a little more risky, but it sure is a lot more exciting as well!

March 14, 2023

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Of course, it’s nice to peel the stickers off of a brand-new watch. In the end, we’re all a bunch of magpies who want to get their hands on the next shiny thing. But in some instances, it might be more sensible to go for a pre-owned watch instead of a brand-new one.

When I look at my collection, it’s a “healthy” mix of watches that I bought pre-owned and watches I bought brand-spanking new. Obviously, it’s no exact science, but sometimes it just makes more sense — at least to me — to buy a specific watch new and another pre-owned. I’d like to share my view on this matter with you today.

Resale value

Last week, Thomas published an excellent beginner’s guide on what to take into account when you buy a pre-owned watch. I recommend you read it if you don’t feel completely comfortable shopping on the pre-owned market yet. In the article, he also quickly mentioned a few reasons why you’d want to buy a pre-owned watch. The main ones were price and availability. And he was completely right, but I’d like to elaborate more on those. First of all, let’s look at the price of a watch. As Thomas mentioned in his article, it could be smart to buy pre-owned, especially because a lot of watches are worth less on the pre-owned market than they are in the boutique.

This is especially beneficial if you’ll end up selling the watch because you got tired of it or your taste simply changed. If you already bought the watch secondhand, you probably won’t lose that much money when you sell it to the next enthusiast. By contrast, when you buy a brand-new watch and sell it, you’ll probably have to take quite a hit when it comes to the resale value. Of course, there are watches from a few brands that actually go up in value after you buy them new, but most will decrease quite a bit after you buy them from a boutique. But to me, it’s not only about the resale value.

Trying to make a good deal

When I buy a watch, I want to have the feeling that I paid the “right” price for it, regardless of whether I buy it new or pre-owned. It’s not necessarily because I’m already thinking about the possibility of selling it. I simply don’t want to feel like I overpaid. For some watches, such as those from Jaeger-LeCoultre and Breguet, the prices on the secondhand market are substantially lower than you’d pay at an authorized dealer. In that case, I’d suggest trying to find a good pre-owned example of the watch you’re looking for instead of buying it new.

But there are also watches that sell for almost the same on the secondhand market as they do at retail. I’d say the newest-generation Omega Speedmaster Professional is a good example of that. In that case, I’d probably try to get a good discount on a new one. Yes, its price will probably still be higher than on the pre-owned market, but I’m willing to pay that little premium to start with a “fresh” one. This is exactly how I ended up with quite a few brand-new watches. And no, I wasn’t always able to get them all at a discount because some are limited editions, and others are from microbrands I’d like to support. But even in those cases, I still feel like I bought the watches at the “right” price.

Availability (or a lack thereof)

Now we get to the second point that Thomas mentioned — availability. With some brands, like Rolex, it can be hard to buy a brand-new watch in the store. For all sorts of reasons we could speculate on, those watches are not available to everyone from an authorized dealer. But there are also a lot of watches that have been discontinued. In both of those cases, the pre-owned market could be the place to find the watch you’re looking for. If it’s a Rolex you’re after, you’ll probably spend more on the pre-owned market than you would at retail. And the same is true for some discontinued watches from other brands as well.

But there are also plenty of watches that are more affordable secondhand. The same goes for a lot of the discontinued ones, even if you can’t always compare them to their brand-new counterparts anymore. But look, for example, at the Breguet 5907 that I recently got. If that watch were for sale today, it would have a retail price of around €15,000, but I got mine for less than €10,000. And yes, I did look at Breguet’s current offerings, but honestly, none of the similar models were as attractive to me as that watch. And that brings me to the final benefit of the pre-owned market.

A goldmine

And that’s the fact that there are so many watches available there. You probably already know about a lot of watches, but there are also countless others that you have never seen before. And sure, buying a brand-new watch can be a great feeling, but to a degree, most of them reflect current design trends. There might be older models that you like a lot more than the ones in your chosen brand’s current portfolio. In that respect, the secondhand market truly is a goldmine that is there for you to explore.

Let me give an example to show you what I mean. Last year, I was thinking of getting the current 36mm Rolex Explorer from an authorized dealer. But when I tried both the newest and the older Explorer, it was immediately clear that I wanted the discontinued reference 114270. Both watches sell for roughly the same price, so rationally, it might make more sense to get the more modern one. But I know I’ll be a lot happier with the older reference, even if the newer one might be more advanced and refined. In the end, you have to be happy with what you’re wearing on your wrist. And in that respect, the watch you love might not be available in the boutiques anymore!

More exciting

Buying a pre-owned watch might feel a bit riskier than buying a brand-new one. But if you take Thomas’s advice into account and don’t rush into it, I’m sure you won’t be disappointed. And yes, it may take a little more time and effort than buying a brand-new watch. But in the end, when you land that perfect pre-owned piece, you’ll also feel a lot more excited about it.

Do you prefer to buy brand-new or pre-owned watches, and why? Please let us know in the comments below.

You can also find and follow me on Instagram: @fliptheparrot

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Why Should You Buy A Used Watch When You Can Afford A Brand-New One? Here’s Why!

Nice article Daan. I agree, always try to look for the best price. Chrono24 is a nice tool for this, but most people forget they don’t reflect the actual value, especially if you want to sell the watch again.

It really does depend on the watch, but most of my buys are new (and either are pieces that would cost a lot more on secondary or I got a discount better than secondary equivalent).

Where it is not a current model of course there is no choice – and that can also apply to new models with limited releases. I take the view that if I miss out on one of the latter I have missed out. I won’t pay a mark up to a “scalper” as it would ruin the watch for me personally as I had paid more than it is worth.

The golden rule I think when you miss out on a watch, is this – there is ALWAYS another watch and you would be surprised how often an opportunity for something you prefer appears when you have just missed out on something else🥳

DG
GoldenYears says:

Mar 14, 2023 at 14:03

So true, Warky.

PLECREN, I’d love to hear your thoughts….

I buy new because my watches are relatively affordable and the savings vs. risk ratio doesn’t pan out on cheaper watches. If there was something I really wanted and could get a used version significantly cheaper from a reputable source, I’d certainly consider it.

I’ve noticed that when people stop buying pre-owned watches, pre-owned watches get less expensive.
And when people stop buying new watches, ADs give bigger discounts.

LC
Chow says:

Mar 15, 2023 at 00:59

Even Omega?

1. PlanetOcean says:
  
  Mar 15, 2023 at 02:31
  
  Omega collectors don’t concern themselves with the banality of pricing, we just have to have our METAS certified masterpieces no matter what.

I buy all my watches new. I don’t have any experience buying and restoring pre-owned or vintage watches so it’s unfamiliar territory for me. I live in Switzerland so I feel I have the “home court advantage” when buying Swiss watches so I am confident I can get most, but not all, new watches that I want. In regard to the Explorer. I bought the ref 124270 but my wife inherited it so I am hoping Rolex releases a titanium version of this same sized Explorer this or next year (but with the larger, improved bearings).

Very good article Daan I think your logic is sound on the issue of buying new or pre-owned. I also think Warky has very sage advice in his comment too. My own “two pennies worth” is that if there is a watch you really have to have, a “grail” if you like, then provided you weigh up the chances of getting it as a pre-owned watch or as a new watch with or without a discount then calculations on resale versus purchase price can become irrelevant. If you want your “grail” then it is probably worth more to you than the purchase price alone would suggest. The key thing is to remember that calculation if you ever decide to sell it, that way you can minimise “buyer’s remorse”, though if it is a true “grail” you may of course never sell it.

Great, well thought-through advice. Especially that last part. “They won’t make them like they used to” is the phrase I keep telling myself when I compare new to slightly older versions of the same/similar watch. Heavier and thicker newer watches might give an initial impression of “better quality” but I think the actual increase in quality is minimal and the loss of comfort/enjoyment on the wrist is not worth any incremental benefits. With so much “gold to mine” in the used market, why make compromises in aesthetics or form factor just to own something from new?

If you are a collector or want a vintage watch not made anymore, then you have no choice but second hand.

The average luxury watch buyer is buying an experience as much as a product, those ADs pushing new watches into the secondary market to sell at a mark up are damaging the brand. Burning goodwill for cash. Those are not the luxury brands of the future.