Occasionally, we receive inquiries from people who want to handle luxury watches such as Patek Philippe and Rolex.
In fact, there seem to be many requests from those who want to purchase models not sold in their home countries, or those who want to buy models that do not lose their value for investment purposes.
Some watches reach a premium price of more than double the retail price even before they go on sale, so it makes sense that many people want to purchase them as an asset!
Although we have some experience purchasing watches through our services, we basically decline all requests from individuals at the moment due to purchasing restrictions designed to prevent reselling.
Recently, we received several requests to purchase luxury watches around the same time. This article is a report on our research into watches that are particularly prone to price surges.
Luxury Watch Brands Available in Hawaii
Due to the nature of our business, when a single item like a luxury watch has the potential to become an asset worth tens of thousands of dollars, we cannot help but look into various details. Haha.
We have compiled a list of five brands that can be purchased in Hawaii and tend to increase in value, so please use this as a reference.
Patek Philippe
It is one of the top three watch brands in the world and is renowned as the pinnacle among them.
It meets all the conditions for a watch that does not lose value, such as brand power, status, watch precision, history, and maintenance.
Prices are always soaring, but the three models Calatrava, Nautilus, and Aquanaut are extremely popular, so if you have the chance to buy one, you definitely should.
We feel it is the most reliable manufacturer, whether for personal status or as an investment asset!
In Hawaii, it is sold at Honolulu Time Company, the only authorized dealer.
Rolex
It is such a famous brand in the watch industry that it can be said no one exists who does not know its name.
The ultimate status and brand power of being a universally known name are so strong that we feel its value is highly unlikely to drop in the future.
Led by the Explorer, which is said to boast the highest popularity in the world, the three models Daytona, GMT-Master, and Submariner are considered to have very high investment value.
There may not be as much price appreciation as the world’s top three watch brands, but you are still undeniably lucky if you can buy one at the retail price!
There are several authorized dealers in Hawaii, and it is sold at three stores: Ben Bridge, Tourneau Bucherer, and Bucherer.
Audemars Piguet
This is also one of the world’s top three watch brands, and it boasts immense popularity, especially in the United States.
While its name recognition might be slightly lower in some regions outside the US, it definitely commands a premium price.
The retail price has been rising year by year, and the Royal Oak in particular has an atmosphere that its price will undoubtedly continue to surge in the future.
Anticipating that its popularity will continue to grow globally, it might possibly be the brand with the highest investment value.
In Hawaii, Honolulu Time Company is the only authorized dealer.
Vacheron Constantin
The last of the top three watch brands in the world, this is a brand that embodies the oldest history and tradition in the world.
Compared to Patek Philippe and Audemars Piguet, prices have not skyrocketed as much, but they continue to steadily increase.
The Overseas is the model with the highest investment value.
Secondhand items are quite inexpensive compared to other brands, so it might be a good target.
In Hawaii, it is available at the Vacheron Constantin boutique.
Hublot
Popular among celebrities and business executives, this is the brand with the most momentum in recent years.
Its history is relatively new, having been founded in 1980, and its innovative models as a new era watch have captured the hearts of the wealthy.
Since there are many elements predicting that it will continue to grow more and more in the future, it might be excellent if considered an investment.
Perhaps because it is desired by wealthy individuals who do not worry much about the cost, it features a wide range of price points.
In Hawaii, it is available at the Hublot boutique.
Reasons Why Luxury Watch Prices Continue to Surge
Used watches, basically like general products, belong to a category that gives the impression of losing value once the season ends.
Normally, for most watches, the price is at its highest upon release and decreases thereafter.
Among them, we also looked a little into what kind of watches experience a price surge or do not lose their value.
- Overwhelmingly low production numbers
- The brand has status
- High value of the watch as a piece of craftsmanship
- Popular in the secondhand market
Broadly speaking, there are mainly the four conditions mentioned above.
Condition 1: Production Volume is Lower Than Demand
For any product, if production volume is greater than demand, the price will go down.
Conversely, if production volume is less than demand, there will be people willing to buy it even at a high price, causing the price to rise steadily.
The fact that they do not increase production just because it sells well is probably one underlying condition!
That is why watches sold in limited quantities around the world are priced at unbelievable amounts.
Condition 2: The Brand Has Status and History
What are known as luxury brands always possess status and history, which means brand power.
It is a level of status where everyone can picture the product just by hearing the brand name.
For long-established brands with over 100 years of history, there is a sense of security that they will continue to produce highly valuable products in the future, just as they have done so far.
These factors make them lifelong products that both investors and individuals can buy with peace of mind!
Condition 3: Value as Art Rather Than Function
Most luxury watches are mechanical watches, and they are rated higher as art than for their functionality.
Of course, in terms of functionality, it is very important that they have high precision as a watch, such as being durable, waterproof, and highly magnetic resistant.
However, after all, what is more important is having high quality as an art piece, such as the beauty of the case and dial, the decorations, and the use of high-grade materials.
And this very point is the absolute condition for a watch not to lose its value even after decades, just like a painting!
Condition 4: Popular in the Secondhand Market
The fact that antique watches hold value means that the brand’s maintenance system is solid.
Because they are lifetime products, I believe watches that can be properly repaired and remain usable exactly as they are even 100 years later are the ones that hold value.
It implies that brands that only focus on watch production and do not have a solid maintenance system are not good enough.
For example, if a watch actually breaks down, it would end up in a situation like being unrepairable due to a lack of parts or requiring an abnormally high repair fee.
The Store’s Reaction When Going to Buy a Luxury Watch
We do not receive that many requests regarding luxury watches, but we still get them once or twice a year.
I would like to share the reactions of the stores when we actually went to purchase them at shops in Hawaii.
In the Case of Authorized Dealers
First, we asked about the Patek Philippe Nautilus and the Rolex GMT-Master II, watches for which we have received multiple requests in the past, at two authorized stores.
The store’s response was the same for both:
- They receive stock about once every two weeks, but cannot sell to new customers to prevent reselling.
- There are hundreds of customers with a past purchase history waiting.
- Even with a purchase history, if you make a reservation now, you will probably wait three to four years.
That was the general impression.
It seems that no matter what you do, if you are a new customer without a purchase history, you cannot even get on the waitlist.
On the other hand, if you have a certain level of past purchase history, the impression is that while you often have to wait for some time, you will be able to make a purchase.
In the Case of Collaboration Brands
Next, we had purchase requests for Tiffany collaboration watches of the Patek Philippe Calatrava and the Patek Philippe Twenty-4.
In the case of collaboration products, we were able to purchase them immediately if they were in stock.
Additionally, even if they were out of stock, there is an impression that they will smoothly register you on the waitlist.
This time, when purchasing these luxury watches, we also asked the representative about the Patek Philippe Nautilus.
The response was, “Two Nautilus watches are scheduled to arrive, but the waitlist is quite long. If there is a possibility, it might be if you purchase it along with jewelry.” It was a typical response from a high-end brand store. Haha.
As expected, it seems they will not sell popular items that easily.
Price Differences of Luxury Watches Between Hawaii and Other Countries
For the hard-to-buy watches explained above, but in the case of normally stocked luxury watches, it seems they can often be purchased for about 10 to 20% cheaper than in countries like Japan.
Of course, it depends on the timing of the exchange rate, but generally, it is similar to other luxury brands.
However, when purchasing a watch in Hawaii, a sales tax (4.712%) applies, and depending on your home country’s customs, additional import taxes may apply upon return (for example, taking it back to Japan incurs a 10% consumption tax, though there are no customs duties on watches).
To give you an idea, if you buy a watch in Hawaii with a retail price of about 1 million yen, the sales tax will be roughly 50,000 yen, and the import tax when exporting it to Japan will be about 100,000 yen. Therefore, if the purchase price in your home country exceeds 1.15 million yen, it is more advantageous to buy it in Hawaii.
It will be an expensive purchase, so please compare carefully before buying!