Everyone collects something, whether that is coins, stamps or even luxury watches. Collecting can be a very fulfilling hobby, especially when you are in pursuit of a rarer piece to the puzzle. A watch collector probably has a watch for every occasion: a fancy evening, a sporting event, or an important business meeting.
But have you ever felt like after collecting something for a long time, you need an upgrade to keep it authentic and fun? If it has been a while since you treated yourself to a new watch, you may want to consider an upgrade.
If one of the watches in your collection lacks a certain style that you are going for, compare it to some of the watches on the market today for inspiration on how you want to see your timepieces grow. You can upgrade your watch for any number of reasons, but most people do so because they wish to keep up with what is trending in the fashion world, upgrade to the latest technology or simply get rid of what they do not use.
Today, we are going to take a look at a few of the top reasons that people upgrade their luxury watch collections – whether that means trading in a watch for something better or simply adding a new piece to your inventory. Plus, we will discuss the financial benefits that can accompany keeping your collection of timepieces up to date and fashion forward.
Reasons Your Watch Deserves an Upgrade
Why should you give your watch collection a boost? Here are some of the most common reasons that we see day in and day out in the watch and jewelry market.
Fashion Trends
What we wear is an expression of our personality. Like clothes, watches also tend to match how we are feeling and how we wish to embellish our outfit for the day. And just like we lose interest in our clothes, we can also lose interest in our accessories.
In the same way that you upgrade your phone to the latest edition every couple of years, it is completely acceptable to upgrade your watch as well. There are certain timepieces that never seem to go out of style: Think of icons like the Rolex Submariner, the Patek Philippe Nautilus, or the Audemars Piguet Royal Oak. Adding pieces like these to your collection can help keep your watch box feeling fresh and memorable for years to come.
Still, there is no harm in incorporating new additions that reflect the latest trends. This year, look out for the following movements that we have noticed on runways across the globe…
1920s Fashion: We are rewinding about a century into the past to embrace the glamorous days of the 1920s again. The prohibition era was rife with fashionable speakeasies, feather boas, and sequined dresses. Androgynous looks were all the rage, and strands of pearls were wrapped around everyone’s necks. You can channel these looks with a vintage-inspired watch this year.
Western Edge: When we say “western,” we are talking about the Wild West, the untouched land of America’s golden age. Think fringe, cowboy hats, and leather belts. Crocodile watch straps and rich cognac hues are perfectly in line with this trend.
Sporty Modernism: Athletic silhouettes have been dominating runways this year, especially when paired with tailored staples. Basically, contrast is in. Bold colorblocking and retro sporty looks reminiscent of Slim Aarons apres ski photographs are turning heads around the world. Richard Mille watches in all of their high-performance blockiness might just be the perfect pairing with this chic trend.
Decade Rewind: The 1920s are popular, but so is 2016. Staples of the early aughts like skinny jeans, ballet flats, and skinny scarves are coming back around. Millennial pink is also on trend, so do not shy away from colorful watches that add an element of individuality to your look.
Latest Technology
Watchmakers are always coming up with new enhancements and reinventing their watch functionalities to keep their timepieces new and invigorating. Gadget lovers enjoy exploring the new features, which in turn motivates companies to constantly come up with new ways to add to a collector’s anthology. If there is a new watch that you have had an eye on for a while but cannot currently afford, consider trading in an older watch in your collection to open up the possibilities of accessing the hottest new thing.
Certain watchmakers are particularly associated with embracing the latest technology. Richard Mille, for one, is known for his dedication to all things avant garde and cutting edge. Every Richard Mille watch is a stunning example of technical prowess and exquisite performance from top to bottom. Plus, these tonneau-shaped marvels are immediately recognizable as modern signals of taste, class, and wealth.
Out With the Old, In With the New
An abundance of shoes, too many black t-shirts, dresses that still have the tags on them – we have all been there. If you are simply not wearing what you buy, you should consider upgrading to something that will not just sit in its box on the shelf. Unless there is a significance to the watch in your collection, if you are not regularly wearing it, it is time for an upgrade.
There is no fun in a collection that has its own collection: dust. At the end of the day, the decision to upgrade your watch is your decision to make. If your watch is in pristine condition, upgrading your watch for something more trendy or technologically advanced could be a fun way to keep that enthusiasm for your hobby alive!
The Bigger Picture: Invest in Possibilities
Upgrading your watch is not just an aesthetic decision. It can also open up a world of new possibilities in terms of your financial future. Purchasing a luxury watch is an investment, but it is one that can yield incredible financial flexibility and a whole new outlook on your financial future.
How is this possible? Luxury watches are widely considered an important asset class. Some luxury watches increase in value over time, so you can sell them for more than you purchased them for. If you want to keep your treasured possessions, however, there are also plenty of options to support that agenda.
First and foremost, luxury watches are an excellent asset to use for collateral loans. Let’s take a closer look at how upscale timepieces can change the way you borrow (and make) money…
Collateral Loans Using Luxury Watches
A collateral loan is essentially an alternative type of borrowing for those who need to unlock liquidity quickly. Basically, you secure your loan using a valuable asset. What does this mean? The lender holds onto your asset for the duration of the loan and can sell off the asset if you do not pay back the money. That might sound intimidating, but the reality is much brighter: More often, borrowers do successfully pay back their loans and receive their assets back in prime condition.
Collateral lending is an attractive alternative to traditional personal loans, as it leads to numerous benefits for the borrower. First off, you will be able to access much lower interest rates as the lender is taking on less risk. Here at AMETA Finance Group, for instance, we offer low interest rates of just 4%.
Other benefits include higher loan amounts (our loans are capped at $5 million), quick turnaround times, and no credit checks. That is right: Instead of letting past financial situations damage your current reputation, you can take out a loan without an embarrassing credit conversation. And you do not even have to sell your treasured timepiece!
Collateral lending using luxury watches is one of many reasons to keep your watch collection up to date and ensure you take great care of your timepieces. These heirloom possessions can be passed down for generations to come, giving you, your children, and your grandchildren unmatched financial flexibility that will be the envy of all those around you.
Discover Financial Freedom With AMETA Finance Group
The moment that you take out a loan on your luxury watch with our team at AMETA Finance Group, you are turning the page starting a new chapter of financial wellness and success. Our high-value, low interest loans are available to anyone who owns brand-name watches… but that is not all we can help you with! We also offer elite jewelry loans for those who own GIA-certified diamonds, heirloom pieces, and other high-value items.
Our partnership with Manhattan’s elite jewelry and watch retailer Avi & Co. helps us make our appraisal process faster and more accurate than other lenders on the market. Whether you are looking to leverage a diamond ring or borrow against a vintage Rolex, AMETA Finance Group is the place to turn for reliable and reputable collateral loans.
Submit this short form to get a preliminary estimate of your collection’s value and discover endless possibilities.
