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Beware the Hidden Cost of Ownership of Luxury Watches  0 Comments

Published Sunday, October 11, 2009 by Harry SK Tan |

 

Watch collectors with years of experience know and bemoan about this issue but new collectors have to suffer a severe shock to learn about the real cost of ownership of luxury watches. Even more so if the watch in question features any of the renowned complications such as chronograph, tourbillon and perpetual calendars.
Mr Chuang Peck Ming of the Business Times reported yesterday in the Weekend Edition in "Get your watch serviced - and fall off the chair" reported that it cost him S$4100 to service his Lange 1. His research showed that its not uncommon for top brands to charge at this level for servicing and repairs.
Unfortunately - this is the hidden cost of owning a desirable luxury Swiss watch. While many may feel in time that they will readily spend 5-10k for a good Swiss watch, most will not readily nor happily part with thousands for servicing or repairs - especially when they are not mentally prepared for it.
The cost of servicing and repairs goes up exponentially with complications and watches with very high level of finishing. Lange for instance will upon servicing or repair will refinish the watch again to almost brand new condition. That is the promise made by Lange and I have seen it delivered. Not all brands are able to provide that level of service but many will of course charge a lot less.
Nevertheless, new collectors must realise this early and make the necessary enquiries so as to make a proper and considered choice when buying a watch.
Yet another reason why watches must not be purchased with impetuous decisions. So if you are not financially ready for the cost of repairs or servicing, you are not financially ready for the watch - even if you can pay the price on the tag.

 

 




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