By way of comparison for depreciation:
- Citizen Fugu, bought new at Citizen outlet store for $475 + tax = $536.75 (a price widely available online). Sold for equivalent of $375 this year, price based on multiple sold examples on WatchUSeek, eBay, etc. Depreciation of
30%. If I'd paid MSRP, though, it would have hurt a lot more.
- Omega Aqua Terra bought new at Mariani Jewellers two years ago, $8,500, negotiated taxes in. Sold prices for similar in places like WatchUSeek seem to be about $4000 USD, or ~$5,274 CAD, less cost of shipping and insurance. Depreciation of
38%+. Unfortunately for the owner, he's scratched the case and bracelet in a few spots as it was a daily wearer, so true resale is probably closer to $4,000-4,500 CAD...
(I've also sold a Laco Aachen flieger for basically the same as I paid, but I spotted a deal on the ridiculous WatchGang wheel (no deals spotted since, sadly), so it doesn't really count. Similarly for the Seiko I just sold, I managed to find it on massive discount on an Asian dealer website, so the paid price was unusually low...)
One caution for anyone starting out. Resist buying too many early, as time goes on and if your taste moves more upscale they will just sit in a box. So be picky... I likely have 20 decent entry watches that see no wrist time... To be fair I got enjoyment and therefore value out of them but it still kind of makes me sad.
I mostly agree, except sometimes you don't know what you like until you own and wear (or don't wear) different styles.
To compare to the above, I spent less than half as much as my buddy who bought that Aqua Terra in a similar timeframe. I now have eight watches (with a one-out-one-in policy), all of which I wear, and have rotated out the ones I didn't for a marginal loss. In the meantime, he agonised over which watch he really wanted for months, and settled on the Aqua Terra. But after owning for a while, he decided he really wanted a Speedy instead. Since buying the Speedy, he now never wears the AT and has to decide whether to keep a dust collector or take a big hit.
I find some watches you click with, some you don't. The first phase of this is actually holding one (which is why buying online is so risky), and the second is owning it for a bit after the new watch honeymoon is over...