Piaget is a company that makes luxury watches and jewelry for the very high-end market and has been doing so since 1874. Everyone agrees that they craft some of the finest watches in the world, but do they hold their resale value?
Compared with other major brands like Patek Phillipe, Rolex, and Omega, Piaget watches generally do not have a higher average resale value, and this is due to several reasons such as demand, brand positioning, age, and condition, and whether it’s a men’s or lady’s watch.
We will glance at a brief history of Piaget, as well as why these superbly crafted watches don’t hold their value, which brands have better value, and why, as well as why you shouldn’t look at watches as an investment.
Who Are Piaget
Unlike other watchmakers, Piaget did not start as a watchmaker; they began by crafting jewelry and precision movement components for other watchmakers and only ventured into producing watches some 50 years after their founding.
Based at their founding home at La-Cote-Aux-Fees, Piaget produced incredibly detailed pieces using the highest-quality jewels and stones and created one of the world’s thinnest automatic watches and has about 200 watches in their catalog.
Why don’t these watches hold their value with all this prestige and expense? Several factors influence the resale value of timepieces, so let’s examine those factors and the top five watch brands that will have their value.
Piaget Watches Lose Value As Their Demand Is Not High
One of the significant considerations in determining whether a watch holds value is whether the market has a demand. Regarding Piaget, there isn’t as much demand as you might expect for second-hand watches.
Brands like Omega, Rolex, and Patek Phillipe have very high demand, plus they have more models available, making them retain their value better than Piaget. In general, people that buy Piaget do so because they exude the luxury and status accorded to the brand, but for the most part, these watches are not purchased as an investment.
So, when there are used Piagets in the market, they have very little interest and consequently lose value more than less prestigious brands like Omega and equally prestigious brands like Rolex.
Brand Positioning And Recognition Affect Piaget’s Value
Piaget would be better compared with similar brands like Cartier and Chopard as they are both luxury jewellers and timepiece makers, also known as the Haute-Joaillerie and Haute-Horlogerie, producing bespoke pieces that often have a six or seven-figure price tag.
For example, Piaget’s Emperador Temple has a price tag of $3,3 million! Certainly well above the Omega and Rolex price tags, but as far as brand recognition and positioning goes, Piaget is not as well known as the other two brands.
A 2015 rankingthebrands.com survey showed that while Piaget ranked in the top 20 of the most valuable Swiss watch brands, they only came in 13th with a value of 600 million Swiss Francs (CHF), while Rolex was #1. With 5,495 billion CHF and Omega at 3,138 billion CHF!
Another consideration was that Omega grew that year by 300%, while Piaget only saw a 1% growth in the same period. While this was some seven years ago, Piaget has not made many inroads into that ranking, and much of this is due to their lack of attracting A-list celebrities!
Omega had a massive spike in demand when they secured the James Bond franchise with the Omega Seamaster in Goldeneye; every subsequent James Bond movie features an Omega, while Piaget only recently acquired stars like Jessica Chastain and Michael Jordan.
Piaget Watches Are Not Considered An Investment Watch
A recent article in March of 2022 on hiconsumption.com listed the top eight investment watches, and Piaget did not feature them at all. Rolex, Patek Phillipe, Omega, and Audemars Piguet were the best investments.
This may seem counterintuitive considering the incredible craftsmanship and materials that Piaget uses. Still, the reality is that if you want an investment watch, don’t buy a Piaget, as you will not recover your investment.
Another consideration is that Piaget does not issue certificates of authenticity as Rolex does, making buying used models risky as they would have to be evaluated by a qualified and knowledgeable jeweler to establish their authenticity.
Why Watches Should Not Be Used As Investments
As a general rule, watches should not be bought as an investment as they will begin to depreciate from the moment of acquisition. Of course, this is more of a general rule, and some rare watches fetch top prices, but as rule-of-thumb goes, you would be unlikely to improve your investment on a watch.
Three factors influence the resale value, and those are :
- The original release date – the newer the release date, the less the watch will have depreciated and is thus more likely to sell closer to the actual purchase price
- Men’s Vs. Ladies Watches – A men’s watch will fetch more than a ladies’ one, primarily due to the demand. Most husbands/partners would not wish to incur the ire of their lady by buying a used premier brand watch- so the need for used high-end ladies’ watches is much lower.
- Brand Strength – the demand for the brand will drive the resale value of their watches higher regardless of whether it’s an aftermarket product.
Considering these factors, you can understand why Piaget watches don’t hold their value in the modern market. Their demand is low, so their brand strength is not high, so older Piaget watches will also not hold value.
The Top Five Watch Brands That Do Hold Their Value
If you are considering a watch that will hold its value, then here are the top five brands to consider when buying a watch:
- Rolex: Probably the best watches in terms of status, demand, and retaining value, and as such, is one of the world’s most respected brands.
- Patek Phillipe: After 177 years in existence, their watches are made as heirlooms and seen as such.
- Jaeger-LeCoultre: Established 133 years ago, they have an excellent reputation for producing superior quality movements. They are also commissioned to provide movements to such brands as Vacheron Constantin and Audemars Piguet.
- Tag-Heuer: Formed in 1860 and with a powerful marketing and global brand presence, high-profile celebrity names, and enjoyable usage, it’s not surprising to find them in this list.
- Omega: Another Swiss brand that is globally recognized, has high demand and has an excellent celebrity profile.
Conclusion
While they do not hold their value as well as some other more well-known but less prestigious brands, they are still rated as some of the most accurate and exquisite watches available and exude luxury with every movement.
Having a Piaget watch on your wrist places you at the elite level of society, and this is why these timepieces are bought and owned, not to resell, but to enjoy by those that have achieved immense success in life.
