The soon-to-be-released Apple Smart Watch has certainly generated its fair share of buzz, and is expected to be a big hit with consumers. Essentially, the experience of having one is supposed to be like having an iPhone on your wrist, with of course the full complement of cool apps that goes along with that experience. Its modest $350 retail price tag won’t price out many consumers, and it’s anticipated that the Smart Watch will soon be nearly ubiquitous as iPhones are currently.
In short, it promises to be a cool new piece of tech; the “next big thing,” so to speak. But an investment that’ll appreciate over time – like luxury timepieces – it’s clearly not, according to watch experts. They seem to be in consensus, and their admonition is clear: If you want a watch that will gain value over time, stick with established brands like Rolex and Patek Philippe, for example. The Smart Watch, like all technology-based fads, is destined, sooner or later, to be replaced by the next “next big thing” and fade into obsolescence, like the 8-tracks and record players before it.
So what is it about brands like Rolex that makes its watches such valuable investments that owning one is like holding a bundle of stocks and bonds? Two things: The power of the brand, and the craftsmanship of the piece, so says watch experts like Ben Clymer of the watch news site, Hodinkee.
First, the brand. Rolex is a power brand, known throughout the