Omega watches are ranked as a historical brand and a competitor to the Rolex brand. It is a luxury Swiss watch brand completing its 170th year. The brand manufactures a diver’s watch, chronograph watch, and a classic dress watch. This brand is stylish and known for its reliability, high quality, and accuracy. Omega is known for its long standing-four of its major collections and a James Bond favorite.
Omega Watches Origin
Louis Brandt, who was a young entrepreneur, founded these watches in 1948 in Switzerland. He traveled with his assembled pocket watches wound with a key to set up this brand. His sons Cesar and Louis-Paul constructed a factory to expand their market. By 1889, it became the biggest brand manufacturer.
The name Omega came into being when a new movement of pocket watches started in 1894. The watch has improved the hand setting and winding mechanism. Its quality, accuracy and repeated breaking of records established this brand as a top leading brand.
Do Omega Watches Hold Value?
When you talk about any item, such as a leading branded watch, its value and price become important. It becomes all the more essential when the watch is not cheaper priced. It is not new that the price you pay for a new product loses its prices after the purchase. Watches do not fall far from this aspect.
Omega watch value is based on various factors. Generally speaking, omega watches can lower in value when purchased at a retail price except for limited editions. The watch can lose its value from 20 percent to 40 percent in the initial year. The value is also dependent on the popularity, model, the amount you paid, and new or used. There are some exceptions in losing the value when the watch is a limited edition or a collector or antique model.
Factors that affect the value of Omega watches
- Model Type- Based on the supply like limited edition or regular make and demand of the watch, the type of watch and its model becomes popular. Not all of them are in demand as others. Value increases or declines according to the model type.
- Accessories- The value of the watch increases with its accessories accompanying it.
- Current condition- Omega watch value depends on its current condition and if it is pre-owned.
- Time of manufacture- The Omega watches value varies with time and how long it has been in the market.
Are Omega watches worth their price?
It is a well-known fact that Omega watches are expensive. When it comes to their resale value on average, it is not bad. The best Omega will undoubtedly fetch you a higher resale value on average. It is considered by many that they are knocked-off brands when compared to their quality and value.
The factors affecting an Omega watch in the second-hand market
Demand and Supply
The most crucial factor in deciding the value of omega watches is demand and supply. Like any other watch brand, Omega also has official retailers for their watches for selling them. Their demand is currently high, with millions of them manufactured each year. However, their supply is also very high.
Suppose they are readily available in their stores, then why to look for them in a resale. A resale will have a value when out of stock, limited edition watches, or collector editions. If the production is less such as Rolex, Richard Mille, and so on, they rise in demand for some popular models. Demand is what increases or decreases the value of omega watches in their resale value.
Omega retail prices
Omega watches also lose their resale value as they are purchased from an official retailer and brought to the 2nd hand market. There is a recommended retail Omega price made as per Omega guidelines. This price is tagged to keep it the same across the globe. It is also meant to keep competition at bay within the official retailers. This will keep the variations of heavy discounts at one store to another in price.
Omega watches are luxury watches. They are waited upon by people to be available on discounts to make it affordable for them. But, a discount can dilute a brand and its worth. This turns these watches to be pushed down on their price in the resale market. A scarcity, limited number of pieces, waiting list, and other factors increase the value while a discount can push down its price.
Brand name matters
Paying a little extra is not a big deal for people when it comes to luxury and branded watches. Omega is one such leading brand that is appreciated, old, and popular in the world. The brand name has a weightage in its resale value.
Tips On Choosing The Perfect Omega Watch That Will Hold Their Values
- Head for the popular omega models, which would not lose their demand with time. Omega Seamaster and Speed master are the most famous and in-demand Omega models. They will hold value even in the resale market as their demand is equally high.
- Look for variations like function variants, gold versions, dial variants, etc. But remember, the classic model will always be in demand and value best even in the resale market.
- Vintage Omega watches are in huge demand as they come into collector edition and antique models. Needless to say, they are great investments. Purchasing a model that will become a collectible is, however, speculation. Speedmaster is one such model.
- The value may not depreciate as much even for limited editions as they are in demand. However, they should be popular enough too.
- Purchase from a resale market as omega watch depreciates a major value when bought from a retailer.
- Popular Omega watches like Seamaster steel and Speedmaster Moonwatch can lose from 20 percent to 30 percent off its retail price.
- Constellation and Deville models are not as popular and can decline from 30 percent to 40 percent in the resale market.
Some models that have seen the least depreciation of value are:
- Speedmaster Moonwatch Professional- Standard
- Seamaster Diver 300M
- Seamaster 300
Omega watches value depends on many factors such as age, accessories, supply and demand, and its condition. Only certain popular models, vintage watches, and popular limited-edition models do not depreciate over time. So, Omega watches do hold their value considerably well in the world of luxury watches.
If you are considering buying an Omega Watch or want to sell your existing luxury watches, you can contact Mimi’s Jewelry for the best value for your luxury watch.