Why Invest in a Rolex?
Due to their heritage, history and incredible craftsmanship, Rolex holds a special place in our culture’s hearts and imaginations. For many people owning a Rolex is aspirational… a symbol that says “I have arrived at a destination that’s worth remembering” – and a way of packaging up a moment in time that we’ll carry with us for the rest of our lives.
Nico van der Horst, founder of Pride & Pinion, Irelands first dedicated luxury watch boutique, based in the Prestigious Merchant Hotel, says “I love Rolex watches, they are without a doubt my favourite watchmakers in the world but people always raise an eyebrow when I tell them that these watches can make an excellent investment”. Many people assume this is just a sales technique, but the fact remains that over half of Pride & Pinion’s clients buy watches for the sole purpose of making money.
Why Do The Price Of Rolex Watches Go Up?
Like any economic system, the watch market is dictated by the principle of supply and demand. Rolex can’t make specific watches fast enough and as a result, customers are put on a 2 year+ waiting list. As you can imagine, most people don’t like to wait, so they come to someone like Nico and pay a premium, which in turn cranks up the value of that watch further.
But not all Rolex’s have the same potential for investment, like any form of investment, you need real expertise to make money and choosing the right watch is essential. This is where Pride & Pinion adds serious value for money when investing in a timepiece as no one is as knowledgeable, passionate or as obsessed with the luxury watch market as Nico van der Horst.
The Watch That Got Away
A few years ago, someone approached Nico asking if he wanted to buy a Rolex Submariner 6538 (colloquially known as ‘The Original Bond Watch’). Being one of the most sought-after watches in the world, it was a great opportunity but unfortunately, having just set up Pride & Pinion there wasn’t the cash-flow to pay the £100k asking price…
One year later that watch sold for £273K.
A Knockout Investment
Four years ago, a well-known local boxer bought a Rolex Daytona for £4900, a watch that’s worth £13,500 today. The incredible thing isn’t the amount of money he made, it’s the fact that he made it while wearing that watch almost every single day.
You see, our cars crash in value as soon as we drive them out of the showroom. Our savings accounts hold our money prisoner and charge us for trying to access it early. Cryptocurrency and other investing fads are a disaster waiting to happen, and for some, the stock market is just too slow.
Nico sticks to a market that has been tried and tested throughout history and invests wisely in timepieces that have never gone down in price.
Nico prefers an investment you can carry on your wrist. One that can be converted into other forms of currency quickly and easily. One that goes up in value with every turn of the hands and one you get to enjoy every second of the day.