Acquiring your first high-end timepiece: a guide

Guide to Acquiring Your Premium Timepiece

If you're in the fortunate situation of purchasing your first high-end timepiece, you'll undoubtedly have more queries than answers. From comprehending the jargon, to determining where to shop, the questions to ask yourself prior to entering a store (or auction house), and how to guard against counterfeits, CNN Style has done the research and consulted experts for their top recommendations.

1. Become familiar with the language

Much like purchasing a car, there are some technical terms prospective watch buyers can benefit from understanding:

a. Components of a watch

Crown: The small knob on a watch's side used to adjust the date and time. On a mechanical watch, the knob serves to wind the watch to keep the motion going.

Movement: The intricate mechanisms that power the watch.

Bezel: The border that retains the protective crystal cover over the watch face.

Lug: The pieces connecting the watch case to the wristband (strap).

Complication: A watch feature beyond basic timekeeping. Some watches may have several additional complications, such as a chronograph with a stopwatch, or a perpetual calendar showing the month and day of the week, or a GMT indicating time across various time zones. Skeleton: A watch that showcases, rather than camouflages, its inner workings.

Tourbillon: An extra tool claimed to enhance the watch's accuracy. While most modern watches no longer need a tourbillon for high accuracy, the complicated mechanism often enhances the value.

Quartz movement: A battery-powered watch.

Automatic movement: A mechanical watch that doesn't need a battery to function; it depends on the wearer's movement to wind it.

b. Handy phrases

Grey market: Distribution or merchandising pathways not given authorization by the original producer. This could involve marketplaces like forums, Instagram, or Facebook.

Reference: Model number that can provide details about the watch, including its materials and design specifications.

Blue-chip brands: Widely known and reputable watchmakers with historical significance and a track record of fashioning excellent timepieces, such as Patek Philippe, Cartier, Rolex, or Vacheron Constantin.

2. Determine if you prefer new or pre-owned watches

Are you seeking the latest iteration from a popular label, or are you interested in investing in a piece of history or a classic design? If it's a brand new model, bear in mind these typically create a buzz - and a lengthy waiting list - so you may desire a timepiece that can't be procured within your desired timeframe.

Many luxury watchmakers impose a prerequisite for buyers to demonstrate their commitment to purchasing a desirable model by requiring them to acquire less appealing models first before they can secure the watch of their aspirations. This technique can yield waiting lists lasting several months or years, according to Joey Luk, head of Sotheby Asia's watches department. "Don't bother with it," recommends Hong Kong co-founder of The Horology Club Johnathan Chan, who suggests it makes more financial sense to pay a slight premium for a watch from a reputable second-hand dealer with a demonstrable provenance.

If you're open to pre-owned timepieces, there's a flourishing secondary market eager to cater to your needs, but be wary of the risks if you're not collaborating with a certified seller able to verify the watch's authenticity.

Contemplate where you're shopping. An anonymous first-time seller on Facebook Marketplace is likely to warrant increased scrutiny than a well-established dealer with numerous satisfied customers who vouch for their reliability. Auction houses such as Christie's and Sotheby's employ in-house experts to inspect the watches they accept, while newer second-hand platforms like Chrono24 vouchsafe the authenticity of all their dealers. Although this doesn't negate the possibility of fakes making it to the market, it necessitates thorough research and - if practical - verification by the brand before completing the sale. But if you prefer zero risk, brokering directly with a retailer might be your most suitable option.

Beyond the trendy brand-new models, there are indeed numerous exceptional watches obtainable straight from the manufacturer. "At least," says Helbert Tsang, co-founder of The Horology Club, "you know there's someone to turn to if anything goes awry."

3. Acquire a watch for the appropriate reasons and consider what you genuinely require from it

Shun the hype surrounding a watch. This is a personal investment aimed at ensuring you'll cherish wearing it for a protracted period. Moreover, exercise caution if resale value is your chief motivation. Tim Stracke, founder and chairperson of premier watch resale platform Chrono24, advises, "I constantly suggest not to initially focus on the financial returns," he mused during an interview at the Watches and Wonders Fair in Geneva recently. "Consider the emotional returns; what makes you smile every time you glimpse a piece?"

When it comes to choosing a watch, Luk stresses the importance of picking your favorite one first. "If you're not into the watch and you purchased it just for investment purposes, it'll end up being a waste since it'll probably stay in your safe forever," she said.

To decide which type of watch suits you, consider how you'll use it. Are you into sports activities like playing tennis or swimming? In that case, you may want a durable, waterproof sports watch with high accuracy. If you're after a sophisticated dress watch for a special event or a mechanical marvel, look no further. Or maybe you're shopping for a special someone who has a particular year that holds sentimental value - that could be your cue.

Luk also suggests sticking with well-known luxury brands with a proven track record when you're a newcomer to the world of watch collecting. "These brands have a better reputation for quality and more information is available online, making it easier for beginners to research their prices and history," she explained. Sticking with established brands also ensures reliability and stable values in comparison to less well-known ones, where there's limited information accessible and price monitoring becomes challenging.

Your comfort is crucial when wearing a watch for long periods of time. Trying them on is critically important since they may look different on you than in the advertisement or on a celebrity. Weight and strap material are two crucial aspects to consider. As Helbert Tsang says, "I put a lot of emphasis on wearability."

If you're infatuated with a high-end watch but can't afford it, Luk suggests examining the designer's other creations to see if there are more affordable options. For instance, when Carlos Pang was looking for a watch to wear to his wedding, he found a pricey Audemars Piguet and decided to look into watches made by the same designer. He bought a more reasonably priced IWC Ingenieur in the end, which he still cherishes today.

As Pang himself discovered from his experience, take your time in making your decision. "It's great to shop without the intention to buy right away," Chan advises. "Attend watch meets, visit different stores, go to auction houses, and immerse yourself in the watch community. Giving yourself time to explore and learn about your preferences is key."

Thom Dingman, from Chrono 24, echoes this sentiment, saying, "A watch purchase is usually a long-term investment. There's no need to hurry into a decision. It may even take six months to a year, or longer, to find the perfect piece you've been searching for."