“Why are luxury watches so expensive?” is a question many new watch collectors ask. In our modern “Fast Fashion” world, it’s easy to forget why some things cost so much. However, in a few online stores, such as Chrono24 marketplace luxury watches are easy to buy and don’t seem as expensive as one would think.
If you are looking for reasons why you should own a luxury watch, here are the three main things that explain what makes a luxury watch different from regular watches.
It takes years of research to make a luxury watch
Surprisingly, making watches is a game with a lot at stake. Given how long watches have been around, it can be challenging for a brand to improve on the technology that has been around for hundreds of years. Watchmakers constantly push themselves to make thinner watches with more features or accuracy than their predecessors. Interestingly, they keep the long-standing tradition of watches alive while adding to it.
Before their big public debut, brands will spend a lot of time and money designing, testing, and perfecting their watches. For example, A. Lange & Sohne took three to five years to develop a new watch. So, designing and making a new watch takes a long time. As the saying goes, time is money, and this is reflected in the price of a luxury watch in the end.
You can only get a limited number of luxury watches
Whether it’s a watch, a dress, or a sports car, a luxury item is, by definition, a rare thing. They are expensive to make, and the fact that only wealthy people can afford them makes them even more desirable. Still, watches are only sometimes made in small numbers to give the impression that they are rare.
Many high-end watches are hand-made, so making more of them is not an option. In its 180-year history, Patek Philippe is thought to have completed less than a million watches. Also, brands want tight control over their manufacturing process, which is easier to do with smaller amounts to keep their internal precision and exact specifications. So, these limited-edition watches are worth more on the market.
The best materials are used to make luxury watches
Luxury watches are made with the best materials inside and out, from the diamond-covered bezel to the gold watch case to the pearl dial. In turn, these valuable materials lead right to a higher price. Even though cheaper materials like stainless steel or gold-plated metals could be used, these refined materials make the piece last longer.
For some brands, the materials used to make a watch are also a big part of what sets them apart. Rolex is the only watch brand that makes its own gold parts. The Swiss watchmaker has its gold foundry, so they can be the only ones to make the gold for their watch cases and bracelets. They even made their shade of rose gold called Everose and got a patent.
Luxury wristwatches have always been a symbol of elegance and class. Since these watches are not produced in masses, owning one is a once-in-a-lifetime opportunity for many. These watches are so timeless that they can be passed on to generations as a symbol of family legacy and they can also be re-sell for highíer value.