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A32 FEATURE
Friday 23 November 2018

Time to get a watch? What to know about buying preowned

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