Building confidence and attracting new watch buyers is critical in today’s competitive global marketplace. Many companies and micro-businesses have been dazzling consumers with the intricacy and sophistication of their timepieces as evident during the SIHH event from January 16, 2017, to January 20, 2017.
These spectacular watches, however, endure use and can be damaged—and that’s where warranties come in, according to The New York Times.
Warranties are not new to the watch industry. They typically are good for two to three years, but Rolex in 2015 extended its warranty for all Rolexes to five years. Other manufacturers followed, including Omega and Breitling with four years and five years, respectively, on certain models.
But for some brands, warranties are part of an overall customer experience.
“Owning a high-end watch is less about the product and more about living an experience,” said Gregory Dourde, chief executive of the independent brand HYT, to reporter Nazanin Lankarani.
This service includes picking up watches from client’s houses no matter where they live for maintenance or repair. These committed employees are referred to as “The Squad.”
Independent watchmaker MB&F encourages owners of new and old watches to join its online club, The Tribe, with warranty extensions as a benefit.
Anyone who obtains a watch through an auction naturally has questions about the actual quality of the timepieces. MB&F offers free repairs while F. P. Journe buys select watches from auctions and resells them fully restored with statements of provenance and warranties.
“A watch is easier to sell or buy if it has a warranty,” said Charris Yadigaroglou, a representative of MB&F, who also told Lankarani. “The new warranty was primarily a way for us to support the secondary market for our watches.”