What time is it? Watches and horology

that's pretty good

As mentioned some time ago, I don’t have a safe. It would probably be a wise thing to have - not really for my watches but for my wife’s jewellery.
Could anyone advise about insurance for watches and jewellery. Should we have additional cover for specific items etc.
Obviously additional cover comes at a cost so if I purchased a safe, would this reduce the premium.

Lol

A question for all the experts.. If you had approx £6k to spend purely on an investment piece, what would it be? Something that would literally be put away and sold on in 15 years for the kids university funds?? any suggestions??

I know we have specific items listed on our policy.. the wife's jewellery and my watches that are over £1200 I think.. Bikes too :-)

A lot of policies have them defined as "valuable items" or similar (basically small, expensive stuff it seems).

My insurance has a total of £20k of valuable items with an individual limit of £3k and it didn't cost much extra. Ten or twenty quid maybe.

Items under £3k don't need to be individually listed.

I wouldn’t put money into watches in the expectation that they will gain value. Some do, most don’t, you and I probably have no way of knowing which ones will, and the market looks like it might be shaky both short and long term. There’s a lot of oversupply right now and a whole generation of young people who don’t need or care for expensive mechanical watches.

Not an expert but if you just want to make an investment then don’t buy a watch. I’d personally use a lot more tax efficient investment vehicle than buying an asset outright on which you incur both income tax and VAT. Sorry that’s a boring answer.

Items under £3k don't need to be individually listed.

you do however need to be able to prove you owned them which can be a problem for used and private sales

Why does vat and tax come into it?

Because you can invest tax-free on income (ISA) and the purchase of a watch would be out of taxed income and the watch subject to VAT.

Does posting pictures on LFGSS on a Friday count?

Thanks

Thanks. I actually looked into insuring my bikes. It was madly expensive as they priced per bike as opposed to individual value.

Rolex 16570, preferably tritium dial. If you can go higher vintage Daydate 18xx series. Buy from a reputable seller (!!) and make sure all the parts are original and non-service, make sure dial lume matches hands. Wouldn't care about box/papers myself. Wear it. Don't blame me if it doesn't work out :)

£6k [investment]... 15 years for the kids university funds?? any suggestions??

You have a known investment horizon/exit point and a specific requirement/future need -one which you could probably do a bit of a guesstimate of what return is necessary to achieve that.

Assuming both you and your kids' mum/dad have already both maxed out your ISA for 18/19 and are sure you'll both still have the spare ~£40k for 19/20, then look for a product that matches your specific investment horizon. There are school fee plans/products so I'd be surprised if there wasn't something for uni fees.

Investing in such a speculative, tax inefficient market without specialist knowledge is a fundamentally bad idea. The fact that you already know you'll want to realise the gain in a set time period makes it worse as you loose the ability to wait for the market to recover if it goes south. How much do you think a 15yo no-date sub (the most stable of watches) was worth in '07/08 after the crash and how easy would it have been to sell?

@TGR - you'll need to speak to each insurancer to check.

As a general rule most H&C insurers have a single item limit of ~£1k which you don't need to list. Then some will have an obligation to list any watches/jewellery over £x (which may be more/less than the single item limit).

From memory Direct Line have a high single item limit. If you only have one expensive watch Esure are good value - although everything about you will need to be vanilla.

A question for all the experts...

Here’s your first issue, speculating on the advice of a fixie skidder.

A better idea imo would be to say; "what would be a good watch to buy now to give my kid when they graduate, but if needed, I could sell and not loose money on"?

Watch Seiko Friday!

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Seiko Friday for me too.

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Those “cocktail time” dials are really impressive IRL. On the flashy side for a dress watch but great value.

I’m being entirely predictable once again on Seiko Friday.

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Seiko Friday for me too...

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Got a new keyboard, warrants a friday watch shot i reckon

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Yum^