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Jewellery insurance info, helpful guides, resources and industry-leading insights.


Jewellery Insurance

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In an era of ubiquitous screens and too much information, luxury watches hold a certain mystique. They’re undeniably cool, and they combine cutting edge technology with the sophistication and craftsmanship of the past.

They’re more James Bond than Spiderman, more panache than splash. And if you’ve been eyeing a luxury watch for a while now, the desire has probably only grown. 

But how much should you spend on a luxury watch? After all, you always know the time (from your smartphone, laptop, car clock, etc.). Wearing a luxury watch is like wearing a pair of vintage diamond earrings. It’s a unique self-expression, and that’s why there’s no one easy answer to the question about how much you should spend. Since you asked, however, we’ve put together some tips to help you decide how much you want to spend on the timepiece of your dreams.


Buy a Watch that Suits Your Budget

Even a splurge should be planned. If you spring for a luxury watch you can’t afford, you won’t be able to enjoy it fully. To make budget planning as easy as possible, take care of this step before you start shopping. 

Another point to remember is that mechanical watches need servicing occasionally, and depending on the watch, maintenance could be expensive. So don’t forget to factor that in. You’d hate to get a nasty surprise when your watch slows down. 

You’ll enjoy your luxury watch more when your indulgence doesn’t affect your ability to pay your bills. You don’t want to resent a ball-and-chain watch. After all, most watches don’t increase in value over time, although there are exceptions to this rule. And that brings us to the next point.


Buy Something You Like

If you’re going to spend a substantial sum on a watch, you’ll need to love it. And with so many gorgeous timepieces out there, you will find precisely what you want if you look long enough.

So don’t rush into this purchase. Scrutinise your choice thoroughly. If you like the case shape, but the bezel bothers you, don’t buy it. Wait until you find the watch you love 100 percent. It’s out there, and the discovery process will be fascinating and fun.


Consider Financing

If you absolutely must have a spendy timepiece, get creative with financing. Many retailers offer interest-free credit for up to five years. For instance, if you purchase a Rolex Datejust from Watches of Switzerland, you can use Zip to buy it with nothing down and flexible payments.

As mentioned previously, weigh your financial options carefully, and be intentional about your purchase. 


Get the Most for Your Money

Let’s say you’ve decided to set a budget of $15,000. You could do several things.

You could max out your budget on a pre-owned Cartier Santos XL or a new ​​Omega Speedmaster with the co-axial master chronometer. One-and-done, you can be happy for the rest of your life.

Or you could divide your cash and go for two or maybe even three different timepieces: something sturdy for everyday wear (say, a Tag Heuer Aquaracer with a black rubber strap) and something dressier for evenings out on the town (like a Jaeger-LeCoultre Reverso with a blue alligator strap). 


Think Pre-Owned

And let’s talk a bit about pre-owned luxury watches. If you’re trying to make the most of your luxury watch budget, buying pre-owned makes sense. As you look around, remember that the condition of previously owned watches speaks a lot. 

You’ll want to evaluate its components and check its functionality to determine the value of the watch. But this can be difficult if you’re new to horology. Therefore, you’ll need to rely on the expertise of an experienced watch dealer. Unless you know what you’re looking for, avoid purchasing a used Rolex from a random stranger. Unfortunately, fraud is all too common in this area. But if you find a pre-owned Patek Philippe Calatrava at a trusted jeweller’s shop that has its original box and papers, you may have found yourself a treasure! 

Things to know about buying a pre-owned luxury watch:

  • Watches with all of their original components are worth more than those with replacement components
  • Rolex reference numbers play a significant factor in determining the watch’s rarity and price
  • The original box and papers add to the watch’s value.


Insure Your Watch ASAP

When you find the watch that will change your life, please don’t take any risks with it. Instead, insure it as soon as possible, so it’s protected from damage, theft and loss.

If you purchase your watch from a Q Certified jeweller, you can buy insurance at the point of purchase. This will give you protection from the moment you walk it out of the shop. If you’ve already bought your watch, you can quickly secure insurance by getting an online quote

With Q Report, you can wear your new timepiece with confidence, knowing you can fully replace it if disaster strikes. We wish you all the best with your search and look forward to protecting your luxury watch.

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Engagement Ring Budget Calculator

What you need to save to meet your timeframe and budget is:

This has not taken cut, colour, clarity or carat, your financial situation or your partners taste into account. There are many factors that can reduce or increase the value of an engagement ring.

Not sure where to start?

Speak with one of our Q Certified Jewellers to find out what you can afford, what your partner is looking for and what will financially work best for you.

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