Have you ever considered about what it feels like to possess a watch which is priced as expensive as a car? Pricey watches are extremely attractive, attracting famous people, business magnates, and enthusiasts like magnets. But, you know, why all the excitement about these fancy watches? Let’s dive into the realm of those extremely luxurious watches and discover what makes it so intriguing about them.
Who buys these really pricey watches?
Why do these watches cost so much?
What makes a watch worth a million dollars?
Who buys these really pricey watches?
These one million dollar watches aren’t just for super rich folks. Sure, famous people and big biz types buy ’em, but more and more enthusiasts are becoming interested in these watches due to their craftsmanship and their provenance.
Sarah Johnson, an avid fan of watches, owns this super fancy Patek Philippe Henry Graves Supercomplication valued at an impressive $24 million. ‘It’s not merely about the money,’ she says. ‘These watches narrate a story, and having one is like having a snippet of history on your wrist. ‘
There’s also this thing with these exclusive watch exchange or sale locations where collectors pass these watches around. Places such as Chrono24 are where it’s at if you are looking to purchase or sell one of these luxurious watches online.
Why do these watches cost so much?
Watches priced at one million dollars are due to several reasons for their high cost, but mostly it primarily revolves around their manufacturing process and what they’re made of.
Take the Audemars Piguet Royal Oak Offshore for example; it’s valued at $1. 3 million, and it takes more than 1,000 hours of craftsmanship with premium materials like rose gold and sapphire glass to make one. The stuff they use, combined with the watch’s precision and innovative design, really significantly increases the cost.
Also, crafting limited quantities makes them rare and that increases their value, too. There’s this Vacheron Constantin Patrimony Minute Strike that is valued at $1. 9 million and they manufactured in a limited edition of 12 in the whole world. Collectors are obsessed with such items.
What makes a watch worth a million dollars?
Multiple factors contribute to the value of a $1 million watch. The most significant factor is the brand’s reputation and the brand’s longevity in the field.
Brands such as Patek Philippe, Audemars Piguet, and Vacheron Constantin have a long-standing tradition of watchmaking, famous for their excellent craftsmanship and innovative designs. Limited edition models and the heritage of the watch also significantly enhance its value. For instance, an antique pocket watch or a timepiece worn by a notable figure would be priced significantly higher than a contemporary watch that is mass-produced.
And the style, the substances they employ, and how effectively they craft it all play a big part in what the watch is worth. Premium materials, such as gold, diamonds, and sapphire gemstones, as well as complex mechanisms and additional features, can considerably elevate the cost of a watch.
Is it worth the money?
Numerous aficionados think the value is in having a artistic creation and a sliver of past around your wrist. Some people might think this is misuse of funds, but they argue true worth is more than just money.
The manufacturing process, the style, and its backstory create something unique and really special. And furthermore, these high-end timepieces tend to increase in value as time goes by, so they can make a favorable investment if you are knowledgeable.
But if you are contemplating a purchase, you should really do thorough research and consult individuals who are knowledgeable. The timepiece industry can be somewhat hit and miss, and prices can fluctuate greatly based on what demand and what is obtainable.