Page 32 - ARUBA TODAY

A32 FEATURE
Tuesday 28 May 2019
Time to get a watch? What to know about buying preowned

By AMIR BIBAWY ven Kaiser, founder of New
Associated Press York-based luxury industry
NEW YORK (AP) — Luxury consulting firm Kaiser Time.
watches have long been “You are always going to
a symbol of the wealthy. have that customer.”
That’s changing thanks ___
to a booming trade in pr- PAY ATTENTION TO THE FINE
eowned luxury watches, PRINT
driven by a growing num- There are details to consid-
ber of specialized retailers. er beyond the sale price.
Established luxury watch- How much of a warranty
makers and dealers are does the seller offer? Does
also getting into the trade. it cover water damage?
“Retailers seem to get What’s the return policy?
much more excited about Does it include a restocking
selling preowned than new fee? If you are on the hook
because they can set the for return shipping costs,
price,” says Ariel Adams, that could be good chunk
founder of aBlogtoWatch, of cash if you need to in-
the foremost authority in sure the package.
watch blogs. ___
From a vintage 1930s Cart- DON’T FORGET INSURANCE
ier Tank to a gently worn In this May 24 2018, photo a watch is photographed at the headquarters of Govberg in Bala Many home insurance poli-
2017 Rolex Sea-Dweller, Cynwyd, Pa., suburban Philadelphia. cies cover personal posses-
there are deals to be had. Associated Press sions but it’s usually worth
Here’s a guide on how to ally likes their pair of jeans search, cautions shoppers Have a watch you don’t getting a separate “valu-
score one: that doesn’t mean it will to take those figures with wear anymore? As with able item” policy for peace
___ look good on you.” a grain of salt. The list price cars, figure out if you can of mind. Many such supple-
WHERE TO BUY Paul Boutros, head of is often not what a watch trade it in for your dream mental policies cover theft
The luxury watch you have Americas for auction house ends up selling for, Bragan piece. or loss away outside the
coveted for years might no Philips Watches, cautions says. ___ home.
longer be out of reach. But against approaching the Once you have price CONSIDER THE “GREY MAR- ___
where to start looking? watch as an investment. points, zero in on a good- KET” WHAT ABOUT WOMEN’S
There are many dedicated “Buy watches because you condition piece. Many on- If you really want a new WATCHES
online retailers like Swiss- love them,” he says. “As line retailers offer “first-time piece, consider the so- “It’s a man’s game,” says
WatchExpo and Second far as investment goes, it’s buyer” discounts or incen- called “grey market.” Watchbox founder Danny
Time Around Watch Co. best to invest in stocks or tives for returning custom- Brand-authorized deal- Govberg, who estimates
Traditional retailers like the real estate.” ers. Most offer email news- ers often offload excess that only 5 percent of pr-
iconic Tourneau chain also ___ letters that will alert you to inventory onto third-party eowned watches on the
sell preowned watches HOW TO SCORE A DEAL upcoming holiday sales, websites. Those sites, in market are designed for
in stores and online. Most To figure out roughly how and not just for Christmas. turn, will offer discounts of women. But that’s good
established retailers of- much you should pay, Tourneau and online plat- roughly a third on new and news for female watch en-
fer pieces that have been compare prices on online form Watchbox offer sales unworn pieces. But there’s thusiasts. It usually means
serviced by watchmakers marketplaces like Germa- tied to other holidays such a catch: Those third-party better deals for the smaller-
and tested for mechanical ny-based Chrono24, where as Independence Day and sellers can’t offer warran- dial Rolexes and Omegas.
accuracy. To avoid knock- retailers and individuals list Labor Day. ties against defects or me- ___
offs, check online reviews watches for sale. But watch Watchbox’s innovative chanical failures. TAKE CARE OF THE WATCH
for the dealer. collector Paul Bragan, a app even allows you to “The grey market is just for Luxury watches are made
Don’t discount online out- senior partner at market offer your own price as a that customer that wants a to last decades, but they
lets that are not just for research firm Wakefield Re- starting point. special big deal,” says Ste- require care. Mechanical
watches. Overstock and pieces need more care
eBay offer thousands of than those that run on bat-
well-priced luxury watches. teries, known as quartz
To get the lay of the land, watches.
start with industry websites “You should make sure it’s
like Hodinkee and aBlog- wound at least weekly and
toWatch. There are also running at least weekly,”
numerous YouTube video says Susanna Woycitzky,
reviews and Instagram watchmaker at Watchbox.
watch “geek” feeds. She adds that you should
___ also keep your watch away
WHAT TO BUY? from magnets, including
“The most important piece those on iPad covers, purs-
of information I tell people es and money clips.
is: Buy a watch you want to Most watches are water-
wear,” says Adams. “Now proof but it’s best not to
that sounds really obvious. test it.
But a lot of people, without “Don’t take them swim-
really knowing, try to fol- ming in the Mediterra-
low other people’s advice. nean,” says Christian Zeron,
Watches are like clothing: This May 24, 2018, photo shows preowned watches on display at Govberg’s flagship store in founder of online retailer
Just because someone re- Philadelphia. Theo&Harris.q
Associated Press