Why it Makes Sense to Hire a Luxury Watch

Read this if you would like to understand some of the hidden costs of luxury watch ownership. We also highlight the benefits of hiring a luxury watch instead of buying.

Overall, whereas sometimes it can be a positive thing to buy a watch outright, remember that you must buy with your head as well as your heart. Just because a watch looks nice to you, it doesn't mean it is a good investment choice! When you hire a watch, you do not need to consider the investment proposition and can instead wear the watch you want, when you want it.

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The True Costs of Luxury Watch Ownership

Depreciation

Luxury watches can lose as much as 40% from the date of purchase.

Examples

Depreciation costs of the Cartier Tank Francaise

Cartier Tank Francaise

New - £6,400

Trade in - £2,550 (@DesignerExchange)

Depreciation costs of Rolex Datejust 41

Rolex Datejust 41 Roman Dial

New - £7,300

Trade in - £5,900 (@Watchfinder)

Servicing

Luxury watches require servicing to keep them functional. This can be extremely costly.

Examples

Servicing Cost of Omega Seamaster Diver

Omega Seamaster Diver

Market value - £2,500

Omega servicing cost - £962

Servicing Cost of Rolex Submariner

Rolex Steel Sports Professional Models

Market value - approx. £7,000+

Servicing costs - from £536.99 for a basic service

Other costs to consider

• Repairs

• Increased insurance premiums

• Selling fees (approx. £300+ @Chrono24)

• Getting a suitable insurance-approved safe installed in your home

• Potential of being targeted by thieves and scammers

• Buyer's remorse (what if you change your mind?)

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The Benefits of Short-Term Watch Hire

Wear something new and different

Wear something different. Hire a Montblanc Timewalker from WatchVIP

Wearing the same watch each and every day can become quite mundane. Change up your style and reignite your passion for luxury timepieces.

Wear a gold piece without the hidden costs. Hire a Gold Rolex Datejust II Wimbledon Dial at WatchVIP

Wear precious metals without worrying about the hidden costs

People typically opt to purchase stainless steel models. Why? Because

it's harder wearing, and more suitable for day-to-day wear.

But for a special occasion, wouldn't it be nice to wear a solid gold watch or perhaps something with diamonds?

Wear the right watch for the occasion

Wear a classic dress watch. Hire the Cartier Tank from WatchVIP

One watch cannot be the perfect solution for every occasion. For instance, the Rolex Submariner is a great and versatile timepiece.

However, for a black-tie event, something like a Cartier Tank would be much more elegant and suited to the occasion.

You can even ask us to provide a leather strap in an alternative colour to match your attire. The same principle applies for handbags, cufflinks, pens and other accessories.

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