Watches are always a popular choice to be used for asset loans at Yorkshire Loan and we know they are a very collectable item.
So, what makes a watch such a collectable item?
Firstly, watches are a personal item that can be seen as a luxury purchase that can be used and enjoyed over the years. They are also an asset that hold their value or even appreciates in some cases. Then there is also the obvious factor that they are an investment that if not used do not take much maintenance and space.
Here are five things to consider when purchasing a watch:
- Make and model
This is the most important choice you will make as the brand will have the most impact on your investment. The two best makes to invest in at the moment are Rolex closely followed by Richard Mille but other names such as Cartier, Audemars Piguet, Omega and Patek Philipe are also well respected.
The model of the watch can also increase the value or make the watch more collectable, for example a limited-edition model would be more desirable.
Piece with historical significance ill also be more collectable
- Condition
It is an obvious one but ensure that the watch is in good condition and that parts are still functional. Any damage will reduce the value and collectability of the watch.
- Material
The material from which the watch is made will affect the value. Luxury metals will raise the value so ensue the watch is made from good quality materials whether it is stainless steel, gold or platinum.
- Original Factory Warranty and Guarantee
Watches with original papers have proven authenticity and province and are therefore more valuable so ensure to check they remain with the watch where ever possible.
- Functionality
Extra functionality, for example a chronograph, adds appeal to collectors as it often means the watch is more complicated and difficult to produce.
If you have a watch or a collection you would like to use as an asset for a loan then call one of our friendly appraisers at Yorkshire Loan on (01677) 930354 or visit our website to see what other assets we would consider: http://91i.3b5.myftpupload.com/we-lend-against/
Contact Yorkshire Loan today to value your watch.