86% of people in the world have owned a wristwatch at some point, even if they no longer wear watches. Wristwatches, particularly, are captivating accessories.
It is really amusing to see how the manufacturers manage to fit such complex machinery in a tiny little space and still manage to make it look beautiful.
There is a whole community of watch enthusiasts that spend a lot of their time studying the evolution of watches, collecting rare pieces; we also see buyers spending millions on wristwatches at auctions.
The most expensive watch ever bought was the Patek Philippe Grandmaster Chime Ref. 6300A at an auction for a whopping CHF 31 Million. It makes you wonder what makes a watch so expensive, doesn’t it?
There are a lot of reasons why luxury watches come at such a high price. In modern watchmaking, the true price of a timepiece is majorly determined by these simple factors various complications that power its movement, craftsmanship using rare materials, jewel enrichment, and exclusivity. Let’s take a look at these factors in more detail. We have split them into further categories to help you understand better;
Factors Contributing to the Price of Luxury Watches
Made from the finest materials:
Luxury watches are made using the finest materials. These materials can be either high-quality steel or gold plating to high-end diamond and platinum casing. It is obvious that a lower range wristwatch will not be able to offer diamond and platinum casing options.
However, even the steel used in luxury watches is of premium quality; it is corrosion and rustproof and doesn’t lose color and polish over time, unlike low-end watches.
Development:
The price tag of luxury watches comes with many expectations. When you purchase a luxury watch, you expect it to have some unique features and technology. However, premium watch brands can’t come up with new technology every few years without a lot of research and development. Brands often talk about the long process of developing new technology, and in some cases, this process can take many years. We are talking about hours and hours of development here.
Many times, Luxury watch companies end up spending millions of dollars on developing new technology and elements for their watches. Companies require highly skilled watchmakers and engineers to come up with the latest technology. All the funds for research and salaries for the professionals working in R&D add to the price of luxury watches.
Movement:
Many famous luxury watchmakers construct their own watch movements. We can categorize the movement of wristwatches into three broad categories; mechanical movement, automatic movement, and quartz movement. Luxury watches often have a mechanical movement that is also the most expensive movement. These are mainly crafted and assembled by hand, which is a long, time-consuming process.
You would either have to wind a mechanical watch by hand, or it might have a self-winding technology installed in it. A self-winding watch is known as an automatic watch, and you will find that most recent luxury watches have this movement. Quartz movement is generally less expensive, but you can still find it in some well-made premium watches.
Crystals:
Watch crystal is a general term used to define the glass covering over the dial of a wristwatch. The purpose of a watch crystal is to shield your watch from any harm and keep it looking refined and polished. Watch crystals can be found in many different materials. However, high-end watches use special materials for watch crystals that may have an extra thickness, provide water resistance, or have anti-glare glass.
Limited pieces:
As we mentioned earlier, watch manufacturers come up with unique, new technology often. If this technology was mass-produced, it would not be unique anymore. It also takes hours for skilled professionals to assemble these watches. Apart from this, limited edition pieces are the most sought-after in the luxury industry, adding to the price mark-up.
So, luxury watches produced in small quantities are highly-priced ( the Devon Tread 1 Group 63 was only manufactured 63 times and holds a price tag of $25,000)
Brand value:
We know that a branded item costs much more than an off-brand one. The same is the case with luxury watches. When you step out wearing a luxury watch, people immediately notice. It doesn’t take long for people to realize that you are supporting a luxury good.
The brand name plays a huge role in making you stand out. Luxury brands are well-known and respected, and these features also reflect on your personality.
The time and effort that go into manufacturing luxury watches make them worth the price. We are sure that you understand the value they hold. Now, the question remains about the right place to purchase premium watches.
Where Should You Buy Luxury Watches?
Mybeautifulwatches is the best website to buy luxury watches. They have numerous types of luxury watches for sale online. You can easily find different brands all in one place. The online watch store caters to the watch demand of o both men and women.
You can also shop on their website at a lower budget. The online store has an exclusive range of premium watches available for around $100. Moreover, you will find many options below the $500 price point, which is terrific for luxury watches.
If you are skeptical regarding the price, you mustn’t worry. All their watches are ethically made and sourced by authorized sellers. You can find well-known brands on their website. You can also find unique, limited edition pieces (such as Devon Tread 1 Group 63 Limited Edition)
Conclusion
Millions of people around the world love luxury watches. Luxury watches hold their value for a very long time, without any signs of wear and tear. You can safely purchase your next luxury watch at Mybeautifulwatches, the best website to buy luxury watches.
They have a watch for everyone in terms of price, design, brand, and more. They ship globally and also offer a 30-day return policy so that you can shop at their website worry-free. You can contact them at anytime for any further queries.
