Omega is arguably one of the most sought-after watch brands in the world and is a known competitor of Rolex. This Swiss luxury watchmaker has a long history of producing high-quality timepieces that are both beautiful and functional. From diver’s watches, classic dress watches, and moon phase watches, Omega has something for everyone.
With such a reputation, many people wonder if Omega watches hold their value. To give you the best answer, we’ll talk about what affects resale value as well as tips on choosing Omega watch models that have a good chance of retaining or even increasing in value over time. Keep on reading to learn everything you need to know about investing in an Omega watch.
Do Omega Watches Hold Their Value?
Omega watches cost a lot of money. This often leaves people wondering, “Do Omega watches hold their value?” The answer is not as straightforward as you might think. It depends on several factors. Just as cars depreciate the moment you drive them out of the dealer’s lot, watches also begin to lose value as soon as they are purchased.
However, depending on things such as supply and demand, some watches may hold their value better than others. Limited edition, collector’s item, and antique watches are more likely to appreciate in value over time. To answer the question, “Do Omega watches hold their value?,” it depends on which model you choose as well as the market conditions.
History of Omega Watches
The mind behind the Omega brand is Louis Brandt. It was founded in 1848 making it one of the oldest watchmakers in the world. It is based in Biel, Switzerland, and its watches are currently distributed in many different countries and are sought-after by watch enthusiasts all over the globe. Since its founding, the brand has gone through many changes and has received tons of recognition as well as broken countless records, establishing them as one of the most popular watch brands today.
What Are the Factors That Affect the Value of Omega Watches?
Now that you know a bit of history about the brand, let’s move on and talk about what affects the resale value of Omega watches. This is to better understand if Omega watches hold their value. Here are some of the things that drive the value of a watch:
Supply and Demand
This applies not only to watches but to virtually everything on the market. The law of supply and demand drives the price of a product. When there is more demand for a product than what is available on the market, the price of the product goes up.
The same is true for watches. When there are more people who want to buy an Omega watch than there are watches available, the price of the watch goes up. This is common for collector’s watches as well as watches that have limited releases, discontinued models, or antique watches
On the other hand, when there are more watches available than people who want to buy them, the price of the watch goes down.
The retail price is the starting point of the value of a watch. When a watch is first released, it is given a certain price by the watch brand. When a watch is bought from the official retailer, this is the price that the customer pays. Later, when brought to second-hand marketplaces or to watch dealers, the price tends to go down. The reason for this is that when a watch is bought new, the customer also pays for things like the company’s marketing campaign, brick-and-mortar locations, and other overheads.
Keep in mind that the retail price is not necessarily the same as the watch’s market value. This is especially true when the watch is no longer being produced. The market value is what collectors and watch enthusiasts are willing to pay for the timepiece.
In the world of watches, some brands are more popular than others. Brands like Rolex, Patek Philippe, and Omega are considered to be luxury watch brands. Because of this, their watches tend to hold value better than other brands.
The thing is that people are more willing to pay a high price for a luxury watch because they know that it is a quality product. They are also willing to pay more for a luxury watch because of the prestige that comes with it as well as the potential to resell it at a higher price in the future.
Type of Model
Not all Omega watches hold their value. Again, it depends on the supply and demand for specific watch models as well as the recognition of the model. For instance, Omega’s Seamaster and Speedmaster watches are very popular among collectors. As a result, these models often sell at a higher price than other Omega watches. So, if you are in the market for Omega watches, consider models that are popular among collectors.
Condition of Watches
A watch in pristine condition will not have the same value as those that are obviously used or in pretty bad shape. Even having a model that is sought after by many watch enthusiasts, they will always consider the condition of the watch before making a purchase. So, if you want to get the best value for your Omega watch, make sure that it is in good condition.
Tips on Choosing an Omega Watch
If you are planning to invest in something, be sure not to rush things as this often leads to mistakes. Here are some things you can do to make sure that you are getting an Omega watch that will hold its value while also getting the most out of your budget:
Consider Purchasing Second-hand
Yes, second-hand! Watches are made to last long so even if it was purchased a decade ago, as long as it is still working and in good condition, they should still be a good investment. Moreover, the retail price of a brand-new watch compared to used ones can be pretty significant. You might end up spending only half of the original retail price but still get almost similar quality.
Buy from a Reputable Dealer
The second-hand market is full of great deals but it can also be a little risky. There are a lot of fakes and replicas being sold so you want to make sure that you are only dealing with a reputable dealer. They should be able to provide you with all the necessary paperwork to show that the watch is authentic.
At Bob’s Watches, we are partnered with WATCHCSA, a leading independent third-party watch authentication and appraisal service. When you buy from us, you can be sure that you are getting an authentic and quality Omega watch. Not only that, we only carry watches that are proven to have the best quality and condition.
Go for Popular Models
For Omega Watches, the Speedmaster and Seamaster are gaining in popularity among many watch enthusiasts and collectors. These designs never go out of style and are made with quality in mind. So, if you are planning to buy an Omega watch, these are some of the models that you might want to consider.
Go for Vintage Models
Only time will tell whether newer models of Omega watches will serve as a good investment or not. This is because not all models, even from the most reputable brands, become popular over time. Some will just fade into oblivion. On the other hand, vintage models are a little bit more predictable as their popularity has already been established. They also have a certain charm that many people are looking for. The best example is the Speedster which has experienced a dramatic increase in value over the past few years.
The Bottom Line
There are many factors to consider and only time will tell whether an Omega watch you bought today will appreciate in value or not. But if you do your research, consider the factors we discussed above, and buy from a reputable dealer like us, then you are well on your way to making a wise investment.
Here at Bob’s Watches, we specialize in Omega watches, so we are confident that we can help you find the perfect timepiece that will suit your needs. Visit our website or give us a call today to learn more about the different Omega watches we have in stock!