Watches come in every imaginable style, fit, material, and price range. Therefore, it’s understandable to wonder how much you should spend on one. While there’s no set rule on how much you should pay for a watch, there are at least three factors that would influence how you would set a budget for your purchase: the type of watch you want, how much money you saved, and your purpose of buying it in the first place. Are you merely after the look or you’re investing in something that will hold its value over time?
Maurice Lacroix is a Swiss luxury brand that falls under both categories. As far as brand recognition and reputation, it is arguably a level below the likes of Rolex, Omega, Patek Philippe, etc. But, you would look upon them with higher regard for holding the value of their watches, all of which would make a fine heirloom that you can one day pass down the line.
Let’s look now into the things you should know when you’re in the market for an investment watch.
Table of Contents
The Factors that Influence How Much to Spend on a Luxury Watch
What You Want
Of all the reasons to buy a watch, the most important should be because you like it. If you know the type of watch or the brand you like, then you’re as good at getting a sign of how much you will be spending. For example, if you love the look of the Aikon line from Maurice Lacroix, look into spending anywhere from $900-$2,500.
The Aikon is regarded as the rebirth of the 1990 Calypso line of watches introduced in 2016. It is distinct for its six polished arms and five-link bracelets—an Aikon signature. It initially had quartz movements, but in 2018, Maurice Lacroix released a new line, which featured a much more refined version and an automatic movement.
How Much You Saved on one luxury watch
Someone who earns $25,000 annually shouldn’t spend $25,000 on a watch—that’s unless, of course, you have saved really hard for that. While watches make a good investment, you shouldn’t pay for more than what you can afford either. Pushing yourself beyond your means, thinking that you can later resell the watch for a higher value is a bit of a gamble.
A Swiss watch will cost you at least $500 on the lowest end and from there, the sky’s the limit. So, when you’re out shopping for a new watch, what you should look for is value for your hard-earned money.
Your Purpose should be on spending
Whether expensive watches are worth their price also depends on your purpose. Are you after the pleasure of wearing a fine watch daily or the craftsmanship, history, and high-quality materials that you know would make the watch increase in value over time?
There is no limit or guideline on how much you should spend on a watch. If you’re able to save $10,000 for your dream watch, what should stop you from owning that timepiece? It’s your money, spend it however you please. You can even get a watch that you can wear every day, another for your outdoor activities, and something dressy for when you attend special events.
But, to give you an idea of what’s considered a healthy spending limit, a maximum of 30% of your monthly income can be spent on your wants—in this case, a luxury watch.
The figure is derived from the 50-30-20 rule where 50% of your income should be allocated to your needs including housing cost, food, utility bills; 30% to your wants; and the remaining 20% to your savings. Let’s say you earn $5,000 a month, meaning you have $1,500 to do and buy the things you love. You can either spend that $1,500 on a decent luxury watch or save the money until you have enough to buy a higher-tier timepiece.
The pleasure of owning a fine watch is unparalleled. This much is true for those who love history, design, mechanics, art, and passion that go in every timepiece. However, watches aren’t always cheap so carefully consider your taste, budget, and purpose.
In conclusion, buy a watch that you want and like. You’ll be the one wearing it. Don’t buy a watch just because it looks good on other people’s wrists or because someone said that it’s the trend these days. Your watch should be just as personal as your clothes. Think of it as a reflection of your taste, lifestyle, even success.
How much would you spend on a luxury watch? If you have any more thoughts about setting a budget for a timepiece, let us know by leaving a comment below! Don’t forget to share this article with your friends, too!