• Bob's Watches is the world's first and largest pre-owned and vintage Rolex watch exchange. The company makes buying and selling luxury watches an easy and comfortable experience.
• Unlike some other watch dealers, Bob's Watches brings transparency to the luxury watch market by openly listing buying and selling prices for watches.
• Every watch sold is guaranteed to be 100% authentic with authentic parts inside, and expert watch specialists and watchmakers double and triple check before any transaction takes place.
• In addition to Rolex, Bob's Watches is also a reliable source for other luxury brands like Omega, Audemars Piguet, Breitling, Patek Phillip, Tudor, Cartier, and more.

More than just timepieces, luxury watches are viewed as symbols of status, and Rolex is often revered as the pinnacle of them all. It's true that some watch brands — Rolex, for one — aren't priced for everyone, but too many people completely write themselves off as being too far removed from the upper echelon who will have the luxury of owning a high-end watch one day.

Aside from high retail prices, the luxury watch market is full of grey areas for the inexperienced watch buyer. Obscure resale prices and counterfeits lead consumers to believe that buying directly from a Rolex store (where prices are undoubtedly hefty) is the only way to ensure a genuine purchase, but online site Bob's Watches is bringing clarity to the market with a level of transparency unlike that of many other watch dealers.

The world's first and foremost pre-owned and vintage Rolex watch exchanges, Bob's Watches prides itself on maintaining fair prices, providing useful market information, and building trust with consumers by openly listing buying and selling prices for every watch.

The business was founded in 2010 when Rolex collector and expert Paul Altieri purchased the domain from retiring watch salesman Bob Thompson for $8,000. Altieri's decision to use a name that wasn't his own started out as a way to jump right into the online space with the domain's relatively inexpensive price and some existing traffic from online search engines.

Today, the company is much bigger than he could've ever imagined. What started out as one man buying and selling his own personal collection online, Bob's Watches has grown into one of the largest online watch sites and a successful brick-and-mortar store in Huntington Beach, California, with a 24-person team including both Rolex specialists and watchmakers. 

Rolexes are built by highly skilled watchmakers using the finest materials and Swiss-made internals, so they are known to last a lifetime with proper care, which is one reason why their market is so robust. Another reason is that Rolexes are collector's items. Unlike most used cars that depreciate drastically as soon as you drive them off the lot, they're great at retaining value and, eventually, increase in value.

Still, many online watch dealers specifically capitalize on consumers' lack of knowledge and access to reliable alternatives. For example, a $6,000 Rolex being bought for $2,000 and sold for $10,000 is an all too common occurrence within the watch industry. Bob's Watches, on the other hand, gives consumers true insight on value. The practice leaves buyers and sellers equally comfortable with making transactions online. Yes, Bob's Watches will make a profit when you buy or sell a watch, but they're completely transparent about it—they even list buy and sell prices side by side. For that reason, Bob's Watches has become the place to buy Rolexes online.

Here's how it works

Buying a watch from Bob's Watches is as simple as picking which one you'd like and checking out. Every watch listed on the site is in stock, ready to ship out, and guaranteed to be authentic with authentic parts used inside.

Selling is also hassle-free. You can fill out a quote request form here. Once your request is received, Bob's will confirm your requested amount and send you a prepaid shipping label to have your watch sent in for appraisal. Once your watch is received by Bob's Watches, the package is opened and inspected on camera by a watch specialist. The video gives owners peace of mind in knowing that their prized watch won't be swapped out with a fake and sent back with an unexplained failed inspection. Once your watch is inspected and meets the original description, Bob's will contact you to ask your preferred payment method — cash, check, or instant transfer.

In addition to Rolex, Bob's Watches is also a reliable source for other luxury brands like Omega, Audemars Piguet, Breitling, Patek Phillip, Tudor, Cartier, and more.

If you've ever wanted a real-deal luxury watch, you no longer have to shell out an astronomical retail price or blindly navigate a resale market full of scams, fakes, and shady prices. Bob's Watches offers users a huge selection of guaranteed authentic luxury watches at reasonable prices, and with trust and integrity being at the core of not only the company's mission but their very existence, Bob's Watches won't leave you disappointed (or duped) with your purchase.

Shop all Rolexes and other luxury watches at Bob's Watches here

Join the conversation about this story »

NOW WATCH: How Area 51 became the center of alien conspiracy theories

• Wristwatches are a fun fashion accessory, and the choices are nearly endless.
• Keeping in mind style, durability, and size, we did the research and rounded up the best under-$200 options on the internet.
• The Fossil Jacqueline watch is our top pick because the look of it makes it a great everyday accessory that will add a touch of sophistication to your wardrobe for a budget-friendly friendly price. 

Smartwatches and high-tech fitness trackers are gaining in popularity, but there's something to be said about the humble analog watch. Truth be told, there are plenty of traditional watches out there that aren't all that humble in terms of price or style.

Whether you want a timeless and understated look or you want to make a statement, there are plenty of watches to choose from — and that's where the challenge arises.

There is an overwhelming number of women's watches to choose from in terms of both style and brand. We realize time is of the essence (both literally and figuratively) so we've scoured the reviews and done the research for you to find five different watches that look good, but won't have you maxing out your credit card.

All our picks for this guide come in at $150 or less, but even though they are budget-friendly, you won't be sacrificing quality with these watches.

Here the best watches for women under $200 you can buy:

• Best watch overall:Fossil Jacqueline
• Best fashion statement watch: Kate Spade New York Metro
• Best boyfriend style watch: Wristology Scalloped Boyfriend
• Best watch for a modern look: Mondaine Classic
• Best bracelet style watch: Fossil Virginia Stainless Steel
• Best minimalist watch: MVMT Hermosa

Updated on 10/21/2019 by Mara Leighton: Updated prices and formatting. We are currently testing new products, so we'll update this guide soon.

The best watch overall

The Fossil Jacqueline watch is a classic go-to for everyday wear that can be dressed up or down.

The Fossil Jacqueline watch has a classic Roman numeral watch face, a simple yet comfortable leather band, and a variety of neutral color combos to choose from making it the best watch for everyday wear. The dial of the watch face is subtly textured and keeps time with three hands and Roman numerals. A small window on the bottom of the dial will also tell you what day of the month it is.

The medium case measures 36mm, but the slim band keeps it from looking overly bulky, so it's an ideal watch no matter your wrist size. It also comes in a wide range of colors, including silver and black, rose gold and navy, silver with pink, silver with brown, or rose gold with pink, so you can match it to the type of jewelry you wear and the colors you like best.

Though this watch is described as having a classic style, in this case, the word "classic" shouldn't be misunderstood as "old-fashioned." The Jacqueline has been designed with a modern aesthetic kept in mind.  If you want a watch that you can wear almost daily because it is versatile enough to be dressed up or down, this watch won't fail you.

I personally own this watch and find myself reaching for it often — especially when I want to pull together an outfit. It stands out just enough to get a compliment here and there, but it isn't trying to win any trend-setting awards. While there's certainly a place for fashion-forward accessories, it's also nice to have the daily wardrobe staples. Think of this watch as the little black dress of your accessory collection. It's a classic piece that won't be going out of style anytime soon, and it's almost always guaranteed to look good.

Durability and comfort are especially important in the watch you wear every day. Fossil is known for producing affordable, high-quality watches and other accessories, so have no fear about this watch's durability. It keeps time accurately with a quartz movement. The leather strap is comfortable, and it's compatible with any other 14 mm strap from Fossil if you want to switch it out.

It's also rated at 3 ATM for water resistance, so it will withstand splashes and brief submersion in water. It gave me some peace of mind that if I were to accidentally splash water on it while washing my hands, it wouldn't mean the end of this timepiece. 

Overall, the Jacqueline has received positive reviews from buyers. Many dubbed it the "perfect every day watch" and say that "it looks elegant without being bulky" thanks to the slim band that accompanies the larger face.

Some buyers with smaller wrists (including myself) did notice that the watch has a tendency to slip around. A slightly shorter band option for this would be ideal, but I found that when I have the strap adjusted to its smallest circumference, it minimizes most of the slippage. For me, this wasn't inconvenient enough to take away from the many positives the Jacqueline has to offer. Its classic look and modern charm make it an accessory piece you'll be able to count on, even as style trends come and go.

Pros: Versatile enough to dress up and down, comfortable band, durable construction, comes in multiple color options, displays the day of the month

Cons: Tends to slip around on smaller wrists

Shop all Fossil Watches on Amazon

The best fashion statement watch

The cute details of the Kate Spade New York 5 O'Clock Metro watch will add a touch of whimsy to any outfit.

Fashion watches come in all sorts of styles, but Kate Spade has mastered the art of creating a watch that makes just enough of a fashion statement without being too over the top. The thoughtful little details present in the 5 O'clock Metro watch are a perfect example of that design aesthetic.

The watch takes inspiration from New York City because Kate Spade has its roots in the city that never sleeps. Whether you're the type who looks forward to happy hour with your friends and co-workers, or you prefer to unwind with your pajama pants and a glass of wine, you'll still be able to appreciate the "It's 5 o'clock Somewhere" sentiment of this watch.

The charming details of the 5 O'Clock Metro watch make it a great accessory if you're looking for a little something extra to add to your outfit. The face has "somewhere…" in script, and a martini glass is cleverly placed at the 5 o'clock mark. The spade symbol, which is synonymous with the Kate Spade brand, is at the 12 o'clock mark. As a final touch, the second hand is covered with a striped design in some models.

It may be cute, but this watch is still functional and durable, featuring a leather band. The rest of the dial is marked with Arabic numerals and is easy to read, and the time stays accurate thanks to the quartz movement. This watch is water-resistant to withstand splashes and brief submersion, but you won't want to swim or bathe with it.

Along with the whimsical details on the watch face, the thoughtful design continues with other color themes and designs, like the gold with white model available on Amazon and the blue and rose gold available on Nordstrom, so you can find something that best suits your personal style and your wardrobe. The case measures 34mm across, putting it in the medium-sized category.

Overall, buyers love the whimsical details and were happy with both the quality and the functionality. Some reviewers did complain that the leather strap felt a bit rough and stiff at first but loved everything else about the watch. Though this watch may not be as versatile as some, it makes just enough of a fashion statement and will add some fun to your everyday ensemble at a far more affordable price than most luxury fashion watches. Cheers to that!

Pros: Fun details, accurate timekeeping, durable design, water-resistant

Cons: Some reviewers thought the band was too stiff

Shop all Kate Spade Watches on Amazon

The best boyfriend-style watch

Wristology adds feminine appeal to a boyfriend watch that can be dressed up or down and offers style and functionality for an extremely affordable price.

The Olivia Rose Gold Scalloped Boyfriend watch is all about style. While some boyfriend watches go the tomboy route with bulky features and a sportier look, the Olivia does the opposite. It features scalloped detailing on the outside of a watch face that has no numbers or indices which give it a sleek, modern appeal.

Unlike many fashion watches, this watch also comes in under $50 — an affordable price for a watch that looks more expensive than it is thanks to the thoughtful design. Versatility is another winning point here that will allow you to make the most of an already affordable timepiece. This is the type of watch that can be dressed up or down, going from casual weekend wear to the office or a night out.

It should be noted that if you have an especially petite wrist, you may find the 38mm case a little on the large side. However, if you want an accessory that will make a statement, and you want your watch to be one of the main focuses of your outfit, you won't be disappointed with the Olivia.

Since the dial of the watch doesn't feature any time indicators, some may find it a little trickier to quickly read this watch. The scalloped pattern does correspond with where the numbers would be to make it possible to still read the time, which is kept with quartz movement for accuracy.

The Olivia doesn't skimp on durability either, which is a plus since this is meant to be a watch you can wear daily. The watch band is made of leather (some styles come with a patent leather band) for added durability, and the band can also be easily switched out for any other Wristology 18mm band, adding to its versatile nature. The Olivia also comes in multiple color options to go along with the rose gold case, including rose gold and gray,  rose gold with black, rose gold with wine.

It's rated at 3 ATM for water resistance, meaning it can withstand splashes and brief submersion in water. However, like the other watches on this list, it isn't meant to be worn while swimming or bathing. If anything does happen to your watch, it comes with a two-year warranty.

Most buyers were happy with their purchase of this watch, but some did note that the ticking was louder than they'd prefer, and some buyers with petite wrists wished the band were smaller. Otherwise, most loved its versatility, the clean and simple design, and its reasonable price.

If you want to add a stylish accessory to your collection without going over budget, or you plan on having more than one watch in your collection, this is an affordable way to give yourself options. The Olivia makes a fashion statement, but won't make you cringe the next time you look at your bank statement. You can also check out Wristology's other watches.

Pros: Feminine design, durable construction, can be dressed up or down, interchangeable watch band, water resistant, affordable

Cons: Lack of indices or numbers could make it harder to tell the time, some with petite wrists may find it too bulky, some reviewers thought the ticking was too loud

Shop all Wristology Watches on Amazon

The best watch for a modern look

The Mondaine Classic watch takes its inspiration from the Official Swiss Railways Clock, with its accurate timekeeping and distinct red second hand.

Mondaine is a Swiss watch company known for its expertly designed, high-quality watches. The inspiration comes from the Official Swiss Railways Clock, designed by Swiss engineer and designer Hans Hilfiker in 1944. This clock became the icon of the Federal Swiss Railways, which were known for their punctuality.

In 1986, the Mondaine Watch Company took the blueprint from the clock, and applied it to its watch collection. The Mondaine Classic watch showcases the simplicity of the Swiss Railways Clock, but also has a modern look and feel that translates well into everyday wear.

The iconic red paddle style second hand gives it a fun pop of color, as does the red underside of the black leather band. If you're looking for a unique timepiece to add to your accessories collection that will still go with most your wardrobe, the Mondaine Classic is a good choice.

Those with petite wrists will appreciate the 30mm case diameter. The dial features black indices to mark the time, and the two bold minute and hour hands are complemented by the red second hand. All of this is set against a white background for easy reading. The stainless-steel case, durable mineral crystal used to cover the watch face, and the leather band make for a watch that's meant to stand the test of time.

When it comes to actually telling the time, you can count on the Mondaine for accuracy as well, thanks to the Swiss Quartz movement. The Mondaine is also water-resistant, so it will withstand splashes of water and it will be safe if you get caught in the rain, but it isn't meant to be submerged in water for any length of time. In the case of any manufacturing defects, Mondaine offers a 2-year warranty.

The minimalistic design and elegance of the Mondaine Classic, as well as its accurate timekeeping is a hit with most buyers. Reviewer Liz loved the versatility it offers as well, commenting that the red color on the underside of the band "makes the watch very unique to the wearer, but also very conservative and suitable for all occasions and outfits."

The only caveat that could be found while reading the reviews was some buyers didn't care for having the Mondaine logo on the front of the watch. This could be considered a downside, especially since the highlight of this watch is the thoughtfully designed watch face, but it's also not uncommon — most watches do feature their logo here.

If you're looking for a unique timepiece with an equally interesting backstory that is versatile enough to go with most of your outfits, the Mondaine Classic is for you.

Pros: Unique watch face design, accurate timekeeping, durable, water-resistant, can be dressed up or down

Cons: Some reviewers didn't like having the logo on the watch face

The best bracelet-style watch

For the times when you need an accessory to dress up with, the bracelet-style Fossil Virginia stainless steel watch won't let you down. 

While an everyday watch that you can dress up or down is a great wardrobe staple to have, sometimes you need something specific to go with that little black dress. The Fossil Virginia watch is made for special occasions and will add some eye-catching sparkle to any outfit thanks to its crystal-set bezel, the crystal detailing on the band, and the crystal hour markers.

The Virginia comes in both rose gold and silver tones, so you'll be able to match it to the rest of your jewelry ensemble for a put-together look, and the 30mm case looks flattering on a wide range of wrist sizes.

There's more to this watch than just sparkle. It's an accurate timekeeper with quartz movement and an analog display. Roman numerals mark the 12, 3, 6, and 9 hour points and the rest are marked by the stacked crystal hour markers. This combo, along with the three-hand design, make for easy time reading.

There is no connecting leather band here as this is a bracelet style watch, but it's made of durable stainless steel with a closure to keep it securely on your wrist. This Adjust-O-Matic closure allows for self-adjustment by link removal so you'll be able to fit it to your wrist size. The Virginia is rated at 5 ATM for water resistance, so it will withstand short periods of submersion in shallow water, but it isn't meant for driving or snorkeling.

It should be noted that some buyers did have trouble finding their perfect fit with the link removable band, as they were between sizes. Others felt that the band enclosure was hard to open. Despite the challenges that some had with the band, others found the links easy to remove and adjust, and liked that the watch face didn't look too bulky on their wrists.

Its elegance and shine, high quality at an affordable price, and ability to dress up an outfit make the Virginia a chic addition to any outfit. Whether you've got a big client meeting, a formal event to attend, or it's date night with your other half — a little extra sparkle never hurts.

Pros: Elegant design, crystal detailing to dress up an outfit, durable and adjustable band, water-resistant

Cons: Some reviewers had trouble with adjusting and opening and closing the band

Shop all Fossil Watches on Amazon

The best minimalist watch

MVMT makes gorgeous minimalist watches for far less than most other companies, and the Hermosa is our favorite.

If you like the look of minimalist design, you'll love MVMT's watches. The company was founded in 2013 by Jake Kassan and Kramer LaPlante, and quickly reached its crowdfunding goal on Indiegogo. Since then, it's been a favorite among budget watch buyers.

The Insider Picks team has loved MVMT watches since the start and has tested several of the brand's most popular styles. The Hermosa watch is one of our favorites with its simple all metal look and 38mm case. It has a mesh metal band that never snags on your arm hair or clothes, and its super slim profile makes it light and comfortable to wear all day.

As a former tech journalist, the only watches I've worn for the past few years have been chunky smartwatches and hybrid models. I had forgotten how slim and pretty women's watches could be until I swapped my semi-smart hybrid watch for the MVMT Hermosa watch.

It's so slim, light, and elegant that I almost forget I'm wearing it. The rose gold coloring goes with everything, and I love the mesh metal strap. The minimalist watch face design is appealing and easy to read, too.

The vast majority of the 227 reviews on MVMT's site are positive, and most are five stars. The only negative comments centered around the clasp, with some buyers saying it broke. In our experience, the clasp does take some getting used to, but it hasn't broke on us after nearly a year of wear.

Overall, the MVMT Hermosa watch is a great pick for people who like the all metal look and its fine mesh metal bracelet band. — Malarie Gokey

Pros: Affordable, attractive, minimalist, stainless steel mesh band, comfortable to wear, slim

Cons: Not as cheap as some other options

Shop all MVMT Watches

• Founded in 2015, StockX is an online marketplace for buying and selling sneakers, streetwear, watches, and designer handbags.
• The website acts as a middleman between buyers and sellers, making otherwise potentially shady resale market transactions safe and secure. StockX authenticates all products before they're sent to you, so you never have to worry about scammers and fake items.
• StockX also provides both buyers and sellers with usable data like current market value, number of items sold, and loss or gain on items. The information can be used to ensure you never overpay or undersell.
• As a shoe collector, I've been using StockX for a few years now, and it's the most convenient and fail-safe way to buy and sell sneakers and more.
• UPDATE: In August 2019, StockX notified users of a data breach that may have leaked user information like name, email address, and purchase history to a third party. Credit card and payment information were not involved in the data breach. StockX quickly responded to the breach with a sitewide update, a password reset for all customers, reportedly improved cloud security, and a further investigation into the matter. 

As a sneaker collector, I've been buying and selling sneakers online for a little over 10 years. Things have come a long way from sending postal money orders to people you met on forums with the hope they'll actually send you the shoes in return, or meeting up with strangers to do in-person transactions. But there are still many shady sellers, and fakes are getting even harder to point out.

Although I've never gotten the short end of the stick while navigating the murky waters of the online resale market, not everyone is so lucky. Now, with the help of a new startup called StockX, resale transactions are a lot safer — and in some instances, more affordable.

Found in 2015 by Josh Luber, StockX is a self-proclaimed "stock market of things." The website makes buying things like sneakers, streetwear, watches, and designer handbags safe and secure by acting as a middleman between you and the seller. I've been using StockX for a few years now and, in my opinion, it's the most seamless way to buy or sell sneakers in the online resale market.

Here's how it works as a buyer:

There are literally thousands of items to choose from on StockX. Once you find an item you're interested in, you can either buy it immediately for the current lowest asking price or submit a bid and wait for one of the many sellers with the same item to accept the offer. It's worth noting that StockX requires you to link to a payment method (PayPal or a credit/debit card) when placing bids. You'll only be charged if and when your bid is accepted. This is put in place to rid the marketplace of meaningless offers from flakers.

After your purchase is confirmed, the seller has two business days to ship your item out for professional authentication at StockX. I personally love that sellers are held accountable for timely shipping because nobody likes to wait a long time for items to arrive. Once your item arrives at StockX, it's marked with a green "verified authentic" tag and it's shipped out to you. You can track the status of your order (shipped by seller, authentication in progress, shipped to you, etc.) online.

As a buyer, you'll be able to keep track of current offers placed, pending purchases, and past purchases. Since it shows a collective amount of how much you've spent, you'll be less likely to spend your life savings on sneakers and streetwear.

Take a look at my history to see the breakdown of past purchases:

Here's how it works as a seller:

You have an item — let's say a luxury bag or a pair of sneakers — that you want to sell. Search the item on StockX and select the size you have. From there you, can sell it immediately for the highest current bid or submit an asking price and wait for someone to pay it. This feature is especially good if you have an item that you don't need to sell right away and believe it will appreciate in value over time.

Once someone purchases your item, StockX will email you a pre-paid shipping label and packing slip to include in the box. You'll have two business days to get the package sent out or StockX will charge you a small fee. Once StockX confirms that your item is authentic and in brand new condition for sneakers and streetwear or excellent pre-owned condition for watches and handbags, your funds will be released to you. StockX does take out a transaction fee starting at about 10%, but as your seller level increases, the percentage decreases. After that, StockX is responsible for delivering the package to the buyer.

In my opinion, the small transaction fee isn't a deal-breaker. Realistically, StockX has to get paid, and it's still a smaller amount than what eBay or a sneaker consignment shop would take.

The same way you can keep track of your purchases, you can also keep track of current, pending, and past sales. StockX provides you with details on your number of sales, how much revenue you've generated, and your authentication percentage.

Take a look at my seller history:

The middleman feature is great for security, but what makes the website like a stock market?

For every item listed, StockX has tons of usable information like release date, retail price, how many units have sold, previous sale prices, and more. The data can help you as a buyer to better assess the market so you'll never overpay. And if you're savvy, you'll learn to use data on previous releases to predict the value on future releases.

I personally have never paid more than retail for sneakers, so I like to use StockX to get certain shoes for below retail. If there's a shoe that I want to buy and it's been sitting on shelves at retailers but is still full price, StockX usually has a lower price. While retailers tend to wait a long time in order to mark down inventory by the bunch, StockX will have a price listed that's closer to real-time market value.

Alternatively, the data works great as a seller. Let's use the last pair of sneakers I sold, the Union Los Angeles x Air Jordan 1, as an example. I sold my pair for $803 12 days after the release, but the market value peaked at $1,520 five days before the shoe released to the public. Today, more than two months after the release, the lowest asking price is currently $609. You can use data trends like this to determine when is the best time to sell your item to maximize profit.

For consumers who are willing to pay resale prices, the data helps them get the best prices. At $609, that's still a lot more than the $190 retail price, but it beats eBay where there are pairs currently listed for up to $1,900.

Don't get me wrong, eBay is a treasure trove for sneakers and fashion (and really anything else you can think of), but it sometimes takes a lot more skill and patience to use. As a buyer, you have to weed out fakes, enter auctions, message sellers with questions, and much more. As a seller, you also have to spend time taking pictures, writing a description, and formatting listings, compared to making a sale with just a few clicks on StockX.

What I like best about StockX is its convenience and ability to remove human error from the buying and selling process. Since StockX holds sellers accountable for what's being sent to them and items are double checked before being sent to you, you'll never receive the wrong item, the wrong size, or a poorly packed product.

I also really appreciate how personal StockX is for users. In addition to the surface-level data on the buying and selling tabs, you can take a more granular look at all of your purchases in your portfolio and manually add other shoes you have in your collection, even if you didn't purchase them all on StockX.  This makes it easy to manage the inventory of your collection, its current market value, and whether you've lost or gained money on it.

While I've only used StockX for sneakers, the brand's decision to expand to streetwear, watches, and handbags was a step in the right direction as these categories also have huge resale markets.

You'll find apparel from brands like Supreme, Bape, and KITH, watches ranging from G-Shocks and Apple Watches to Rolexes and Omegas, and designer bags from Louis Vuitton, Gucci, Chanel, and more.

No matter what level of knowledge and enthusiasm you have for fashion, StockX is a fool-proof way to buy authentic styles in the resale market. Whether you're a seasoned sneakerhead, fashion expert, or a newcomer in need of direction, you can rest assured knowing that all transactions on StockX will be smooth.

Start buying and selling on StockX here.

Join the conversation about this story »

NOW WATCH: 9 items to avoid buying at Costco

• The coronavirus is impacting a number of industries, including the luxury sector.
• Two of the largest watch events in the world were just canceled due to the health crisis.
• The luxury sector, which touts many large-scale global events and trade shows, may turn to digital spaces to temper coronavirus-related setbacks.
• Visit Business Insider's homepage for more stories.

The effects of coronavirus are reverberating everywhere — even the luxury sector.

In its most recent forecast, the Organization for Economic Cooperation and Development warned that the global economy is facing its biggest threat since the 2008 financial crisis. The same forecast recommended limiting travel, imposing quarantines, and canceling events to contain the spread of the disease.

From boat shows to art festivals, in-person experiences and events are the hallmark of the luxury sector. But following widespread coronavirus recommendations, many of those global events have been canceled.

The cancellations are particularly noticeable in the watch industry.

Baselworld, the largest watch and jewelry show in the world, just announced its cancellation, according to Quartz. The event, which was originally scheduled to take place in Basel, Switzerland, during the first week of May, has been postponed until January 2021. The 2019 version of the event saw over 81,000 visitors and over 500 exhibitors.

"For health safety reasons and in accordance with the precautionary principle issued today by the Swiss authorities, Baselworld announces that it has taken the decision to postpone the show," read a statement announcing the news on Baselworld's website.

Last week, Swiss authorities banned gatherings of more than 1,000 people until at least March 15. There are fewer than 20 confirmed cases of coronavirus in Switzerland, but as it borders northern Italy, the country with the most confirmed cases in Europe, Swiss authorities are taking extra precautions.

Watches & Wonders Geneva, a separate Swiss fair formerly known as SIHH, also canceled its event, according to Watchonista. The event was originally scheduled to take place in Geneva, Switzerland, the last week of April. The next edition of the fair is expected to take place in 2021.

"In view of the latest developments concerning the worldwide spread of the COVID-19 coronavirus, it is the Fondation de la Haute Horlogerie's duty, as organizer of Watches & Wonders Geneva, to anticipate the potential risks that travels and important international gatherings could entail. Therefore, in order to protect the health and well-being of all our guests, press, partners, and teams, the decision has been taken to cancel the upcoming edition of Watches & Wonders Geneva (formerly known as the SIHH) and its 'In the City' program," read the Watches & Wonders press release regarding the news.

The cancellations of major events have already been shaking up the luxury sector

Art Basel Hong Kong was one of the first global luxury events to be canceled due to coronavirus — but it didn't get canceled outright. The event, which was supposed to take place the third week of March, will still happen online. Art galleries will be presented digitally. The new online-gallery development has already proven successful elsewhere, with artists selling pieces worth $2 million on similar platforms, according to ARTnews.

This digital fix could lend itself to other markets within the luxury sector, like the watch industry, which is currently considering how to overcome the economic downturn that will most likely follow the spread of the coronavirus. 

SEE ALSO: How dangerous could the coronavirus be for the watch industry?

DON'T MISS: Patrick Mahomes celebrated the Chiefs' Super Bowl win while wearing a $47,000 Rolex. Here are 23 of the priciest watches worn by the world's top athletes.

Join the conversation about this story »

NOW WATCH: Pathologists debunk 13 myths about the coronavirus, including why masks won't help

• We have tested and extensively researched dozens of smartwatches to find the best makes and models for all sorts of users.
• After much testing, we find that the Apple Watch Series 5 is the best smartwatch overall currently, thanks to a now always-on display and improved design.
• Of course, the Apple Watch is exclusive to iPhone owners, so we have many options for Android users as well from the high-end to the more approachable.

Smartwatches aren't yet mandatory tech purchases even in 2020, but they may be one day. For those of you who like to live on the cutting-edge side of the tech world, there's no better techie status symbol than one of the best smartwatches.

Thankfully, smartwatches are a lot more attractive than they used to be, so you don't have to worry about strapping a clunky, futuristic gadget on your wrist anymore. We've tested dozens of smartwatches over the years, and these are the very best ones we've used.

There's a smartwatch for everyone on this list, whether you're an iPhone user who needs the latest and greatest Apple Watch, a tech geek who wants to pay for your latte with your wrist, a fashionista, or a WearOS aficionado, we've got you covered.

Here are the best smartwatches you can buy:

• Best smartwatch overall: Apple Watch Series 5 
• Best feminine smartwatch: Kate Spade Scallop 2
• Best stylish smartwatch for women: Fossil Q Julianna HR
• Best stylish smartwatch for men: Fossil Q Carlyle HR
• Best smartwatch for Samsung fans: Samsung Galaxy Watch Active 2

Updated on 03/06/2020 by Joe Osborne: Added new language for 2020. Updated links for accuracy. Added new links to related buying guides to help readers make a more complete purchase decision.

SEE ALSO: 10 Apple Watch bands that look great and cost under $25

SEE ALSO: The best smartwatches for women

The best smartwatch overall

The Apple Watch Series 5 has a new always-on display and great new fitness features that make the best smartwatch you can buy better than ever.

It doesn't get better than the Apple Watch Series 5. The unique modern design works for both men and women. The smartwatch comes in 40mm and 44mm styles to fit wrists big and small. You can buy it in several finishes to match your style and there are dozens of Apple-made and third-party watch bands to make the Watch your own. 

No other smartwatch offers this much variety and customization, especially when it comes to female-friendly options. The Apple Watch is the only smartwatch I've ever worn regularly each day for months on end. I've reviewed dozens of WearOS watches, and although many of them are nice looking as well, they're not as fully featured or easy to use as the Apple Watch.

The Apple Watch boasts cutting-edge smartwatch tech including mobile payments with Apple Pay, stand-alone GPS, full waterproofing up to 50 meters, and thousands of apps. The user interface is very simple and attractive. It's easy to use and it has advanced, easy-to-use fitness tracking features, thanks to a plethora of sensors and an excellent heart rate monitor. The Series 5 even has a built-in compass for navigation.

The Series 5 now has an always-on display, so you don't have to raise your wrist to activate the watch face — now you can always see the watch face just like you would on an analog watch. It's a cool feature that you can turn on or off. Some reviewers have said that it impacts battery life negatively, so keep that in mind if you enable the feature.

Best of all the Apple Watch has several great health-focused features, including the ability to detect when you fall and even alert emergency contacts if need be, as well as an electrical heart rate sensor that works with an app to alert you to heart health issues. The electrocardiogram (ECG) app has been certified by the Food & Drug Administration.

You can also get an LTE version of the Series 5 for standalone smartwatch functions like calls, texts, and internet access. That way, you can leave your phone at home when you go out on a run or a long hike.

The LTE connection will cost you about 10 bucks a month at most carriers, and the LTE model does cost more. There's a non-LTE version, too, if you're not interested in the new feature. Most people probably don't need LTE, frankly, unless you regularly go on hikes or long runs and you don't want to be weighed down with your phone. Still, it's a nice option to have.

The Series 5 lasts a full day on a charge, but you can get more out of it if you don't get notifications from every app on your iPhone.

While other companies struggle to pack tons of tech into bulky smartwatches, Apple effortlessly offers all the tech you need in the most compact and attractive smartwatch you can buy.

Pros: Gorgeous larger screen, slimmer watch case, haptic feedback from the crown, great watch faces, tons of band options, lots of apps, new health-focused features

Cons: Expensive, battery life is short, only works with iPhone

The best feminine smartwatch

The Kate Spade Scallop 2 is a truly feminine, whimsical, and charming smartwatch that packs serious tech features like a heart rate monitor, GPS, and NFC for mobile payments.

Most smartwatches are unisex and are not specifically made for women. Even though Fossil, Skagen, and Apple make very convincing unisex watches that women can wear, none of them are unapologetically feminine. If you, like me, have been waiting for a super feminine smartwatch that's made for women, you're in luck.

The Kate Spade Scallop 2 is the ultimate women's smartwatch. The round metal watch casing is relatively slim, very sleek, and absolutely adorable because it has the cute little detail of scalloping around the watch face.

The watch face options are classic Kate Spade designs. You get a sultry winking moon face with perfectly curled lashes, calling you a leading lady; cute bubbly balloons for a digital watch face with numbers; a speeding cab that reassures you that you'll be there in a New York minute; and a daisy that loses petals as the time ticks away in a classic game of "He loves me; he loves me not."

The cute scalloped silicone band in black or a leather band in blush pink and the well-made, slim metal bracelet style watch band complete the feminine look. It is these little touches that make this watch so fun. 

Google's WearOS software (formerly Android Wear) lies underneath the cute exterior with all its skills and limitations. Like all the other WearOS watches in our guide, you can pair it an iPhone or Android device to get apps and all your notifications.

The second-generation Scallop even has GPS, NFC for payments, and a heart rate monitor, making it more high tech than the original.

Pros: Adorable design, feminine watch faces and casing, cute straps, subtle details for fun, GPS, NFC, heart rate monitor

Cons: A bit expensive

The best stylish smartwatch for women

The Fossil Q Julianna HR is a sleek smartwatch with a classic design and the power of WearOS.

If you're an Android user who wants a more classic feminine style smartwatch, you're in luck. Over the past few years, fashion brands and watchmakers have started making great WearOS smartwatches. Fossil's Q Julianna HR is its fifth-generation model.

The watch casing is smaller and less bulky and the touchscreen looks more refined than it did on the original. It also has more high-tech features, including a heart rate sensor, GPS, and NFC for mobile payments.

Fossil's Q Julianna comes in a few different color and style options. I love the simple rose gold casing and tan leather strap option, but you can also get one with a bedazzled ring around the watch face. There's also a rose gold metal bracelet strap or one that mixes rose gold with a bold navy color. 

Women who are less into trendy colors can obviously go for the more traditional finishes like silver and gold. If you don't like any of the included straps, Fossil and other brands sell many 22mm watch straps so you can make the Q Julianna your own.

It's a chunky watch in comparison to the Apple Watch, which is great for women who like bigger watches. This version of the smartwatch is also waterproof up to 3 ATM, so you can swim with it on.

The Q Julianna runs WearOS (previously known as Android Wear) and works with thousands of apps on the Google Play Store. You can answer texts, interact with notifications, and choose your own watch face — just like you would on any other smartwatch. Fossil has lots of nice watch faces in feminine colors, too.

It'll work with both Android phones and the iPhone, but it's best with Android devices. When Android Wear watches are paired to the iPhone, a lot of functions no longer work, and you're left with a pretty watch that gives you notifications.

Pros: Classic watch design, stylish color options, lots of compatible watch straps, and it's compatible with iPhones and Android phones

Cons: It's a bit chunky, not as good with iPhone

The best smartwatch for fashionable men

Fashion-forward men who aren't into the high-tech futuristic look will love Fossil's Q Carlyle HR with its classic design and smartwatch powers.

Fossil shows up twice on this list for a reason — it's one of the few fashion brands and watchmakers that's making gorgeous smartwatches. The Q Carlyle HR is the ultimate WearOS watch for men who want their smartwatch to look like a high-end wristwatch.

It's a hefty smartwatch that feels luxurious, but it doesn't cost a couple thousand dollars a la the Tag Heuer Connected smartwatch. Our guy friends just love the stainless steel casing with the chunky metal watch band, but you can choose a number of different finishes.

You can get the smartwatch in dark gray, black, and silver finishes with metal or leather straps. The straps are interchangeable with any 22mm watch band you can buy from Fossil and others.

When it comes to tech, the Q Carlyle isn't the most high-end one on this list, but it runs WearOS and it's compatible with thousands of apps. You can send texts, view your notifications, and track your activity — just like you would on any smartwatch. The latest generation also has NFC for mobile payments, GPS, and a heart rate monitor.

Pros: Classic watch look, WearOS, use any 2mm watch band you like

Cons: No LTE

The best smartwatch for Samsung fans

The Samsung Galaxy Watch Active 2 is a fantastic fitness-focused smartwatch for Samsung fans.

The Samsung's Galaxy smartwatch lineup has been getting better every year as more apps and features are added. The new Galaxy Watch Active 2 is a great fitness-focused smartwatch for those who own an Android phone. Samsung phone owners will get the most out of it, as some features are exclusive.

You can get it in two sizes: 40mm and 44mm — just like the Apple Watch. It has a slim round watch case so it looks more like a normal watch than a piece of tech.

You can get it in stainless steel and choose between silver, gold, and black finishes. There's also an aluminum case version that comes in a few different colors, including Aqua Black, Cloud Silver, and Pink Gold. The watch has a simple silicone band, but you can also get leather bands for the watch. It's rated at 5ATM for water resistance, so you can swim with it.

The Galaxy Watch Active 2 was built specifically for athletic people who want to track their activity and workout metrics. It can automatically track workouts like cycling, swimming, running, and more. The heart rate monitor also helps the watch track the intensity of your workout.

The watch even has sleep tracking built in, which is something that other smartwatches like the Apple Watch don't offer. Based on your metrics, the companion app generates insights to help improve your overall fitness.

Just like with any other smartwatch, you'll also get notifications from your phone and you can access many popular apps. You can get an LTE-enabled version if you want to be able to use the watch more effectively without your phone on hand.

Pros: Great fitness tracking, heart rate monitor, LTE option, auto workout tracking, sleep tracking, swim-proof

Cons: Pricey

What else we considered

We're currently in the process of testing several new smartwatches that were just released, so stay tuned for a bigger update. Here are the ones we're currently looking into and testing.

• Garmin Vivoactive 4S: Garmin makes great fitness-focused smartwatches, and the 4S looks to be a good Apple Watch alternative, as it has many of the same specs.
• Fitbit Versa 2: The Fitbit Versa 2 could be a great contender for the best smartwatch upgrade for people who have an old Fitbit tracker and want to try out a smartwatch for the first time.
• Michael Kors Access Lexington 2: Michael Kors has been making smartwatches alongside Fossil for years now. If you like MK, you'll probably like this watch as it has many of the same features.

• Every young professional needs a nice watch, but may not have deep enough pockets for high-end luxury brands.
• With a $250 budget, there are a variety of quality watches from brands like MVMT, Fossil, and Timex that make great gifts.
• We rounded up the 14 best watches under $250 to give as graduation gifts — or to buy for yourself.

Editor's note: Graduation ceremonies across the country are being canceled and postponed due to coronavirus, but that doesn't mean students aren't still preparing to move on to the next phase of their lives. We hope this list provides some guidance for how to help them celebrate their accomplishments and smoothly transition to whatever form their next chapter may take.

While first-apartment essentials, tech items, and gift cards are all solid presents to give a recent graduate, a watch is an often-overlooked, but much-appreciated gift idea they probably couldn't afford on their own. 

College years are usually when young men begin building out their professional wardrobe with essentials for their internships, but shelling out hundreds of dollars for a watch isn't always in the budget. As such, a nice timepiece is likely one hole in their wardrobe that needs filling.

If you're looking to gift them a watch they'll feel proud to wear to their first job, now is the time to do it. With a $250 budget, you can find plenty of watches that are perfect for casual days, formal functions, first-job interviews, and everything in between.

Whether you're shopping for a graduate, or you're a recent graduate yourself looking to spend some of your gift money, you'll find a hand-picked selection of affordable yet stylish watches here.

Check them out, below:

Todd Synder x Timex Beekman

Todd Synder x Timex Beekman, $158

New York menswear brand Todd Synder and Timex have teamed up for quite a few different watches, and the Beekman is one of, if not the most unique. Inspired by classic cars, the watch features a tachymeter gauge in the iconic swirl pattern, an Indiglo night backlight, and a genuine leather band with a croc skin pattern.

Seiko Series 5 Automatic

Seiko Series 5 Automatic, $157.38 (Originally $375) [You save $217.62]

The Seiko Series 5 watch is a classic. With an automatic movement, it's designed to keep ticking without any batteries. Its stainless steel case and bracelet are contrasted by a black dial and a teal and black bezel.

Seiko Recraft Automatic

Seiko Recraft Automatic, $129.99 (Originally $275) [You save $145.01]

If you're looking for a style that's more unique than the traditional round-case watch, the Seiko Recraft's square case is a great choice. The stainless steel watch features a dark blue case, a date date display at 3 o'clock, and a skeleton rear case. 

MVMT 40mm Rose Gold Brown

MVMT 40mm Rose Gold Brown, $120

Featuring a 40mm rose gold case, a black dial, and a premium leather band, this watch from MVMT is elegant and simple — and at $120, it won't cost you much. 

Timex Marlin Automatic 40mm

Timex Marlin Automatic 40mm, $249, available in five colors

While most automatic watches cost hundreds of dollars, the Timex Marlin is pretty fairly priced at $249. It features a modest 40mm case size, a leather band, and a dial with a date display. In addition to this black, silver, and gold color combination, you'll find four other styles available.

Fossil Minimalist

Fossil Minimalist, starting at $119, available in 7 colors

As its name suggests, the Fossil Minimalist, is kept very simple with easy-to-read hour and minute markers on the dial. What makes this watch special — and most other Fossil watches — is the free engraving option. You can add a personalized message to make this gift more memorable. And with 16 color combinations available between faces and straps, you'll find a bunch of great styles. You could buy two and still be under the $250 budget.

Linjer Chronograph

Linjer Chronograph 41mm, from $245 to $275

Founded in 2014, Linjer is a new watch startup that sells well-made watches at affordable prices. While many of their styles are extremely minimal, the 41mm Chronograph is a solid choice for guys who like more intricate designs.

Daniel Wellington Classic Durham

Daniel Wellington Classic Durham 40mm, $229, available on Amazon

Daniel Wellington is  usually the watch brand of choice for true minimalists. The Classic Durham watch features a thin 40mm case, a white dial with gold hour markers and hands, and a brown leather band.

Hamilton Khaki Field

Hamilton Khaki Field, $244.90 (Originally $395) [You save $150.10]

Inspired by military-issued field watches, the Hamilton Khaki Field features a stainless steel case, a brown dial with tan accents, and a canvas strap.

Movado Bold

Movado Bold, $199 (Originally $595) [You save $396]

The Movado Bold is elegant, luxurious, and simple. Aside from the signature Movado dot, the all-black dial is completely clean.

Victorinox Alliance

Victorinox Alliance, $199.99 (Originally $495) [You save $295.01]

The Victorinox Alliance watch offers the dependability of a Swiss-made watch without costing an arm and a leg. Its two-tone silver and gold color pairs well with everything, which makes it a nice everyday watch. 

Skagen Holst Hybrid Smartwatch

Skagen Holst Hybrid Smartwatch, $129 (originally $175) [You save $46]

If you want the connectivity and functions of a smartwatch, but prefer the look of a classic analog watch, the Skagen Holst Hybrid is a great choice. You can get notifications from your smartphone, set timers, control your music, and more.

Tissot V8 Automatic

Tissot V8 Automatic, $237.99 (Originally $395) [You save $157.01]

The Tissot V8 Automatic features a white dial with a date display, a silver case, a black bezel, and a perforated black leather band. With a 72-hour power reserve, it'll keep time even when if you don't wear it for a couple of days.

Invicta Pro Diver Automatic

Invicta Pro Diver Automatic, $81.16 (Originally $345.99) [You save $263.84]

As the most affordable watch on the list, the Invicta Pro Diver boasts some pretty attractive features. It has a gold-tone case and bracelet, a blue unidirectional bezel, and a magnified date display. Its pearlescent face and automatic movement make it look and feel like a much more expensive timepiece. 

• Bugatti teamed up with watchmaker Jacob & Co. to create the Bugatti Chiron Tourbillon, a watch with a tiny 16-cylinder engine inside. 
• The replica motor begins to churn with the push of a button. 
• Bugatti said the timepiece's movement comprises 578 individual pieces and took almost a year to develop.  
• The watch — which features other Bugatti-themed elements like a fuel gauge, a tiny grille, and blue shock absorbers — comes with a sticker price of $280,000.  
• Visit Business Insider's homepage for more stories.

Bugatti has partnered with watchmaker Jacob & Co. to release a timepiece only owners of its seven-figure supercars can possibly afford. 

The new watch, called the Bugatti Chiron Tourbillon, is highly complex and features a tiny, moving replica of Bugatti's 16-cylinder engine inside. The actual engine it's based on — an 8.0-liter, quad-turbocharged unit rated at 1,500 horsepower— propels the $3 million Bugatti Chiron to 62 mph in 2.4 seconds and helps it achieve an electronically limited top speed of 261 mph. 

Judging by its $280,000 price tag — a figure that could buy you any number of super-fast sports cars — you might think the Chiron Tourbillon puts up similarly impressive specs. Unfortunately, the watch isn't going anywhere fast, but it sure does look cool. 

The miniature engine's pistons actually move, and the watch sports Bugatti-inspired design elements like a tiny horseshoe grille and shock absorbers that suspend the watch's movement in midair. 

Learn more about the Bugatti Chiron Tourbillon:

Jacob & Co. has partnered with Bugatti to release a supercar-themed watch with a miniature Bugatti engine inside.

It's called the Bugatti Chiron Tourbillon, and it comes with a supercar-like price tag of $280,000.

But that figure shouldn't be much of a stretch for true Bugatti enthusiasts, considering the car it's based on — the Bugatti Chiron — costs right around $3 million.

The actual Bugatti Chiron has a massive, 8.0-liter, 16-cylinder engine rated at 1,500 horsepower.

Jacob & Co.'s Bugatti Chiron Tourbillon has 16 cylinders, too — but it lacks nearly all the horsepower of the original engine.

Press the rightmost button on the watch, and the replica engine's pistons begin pumping up and down.

The timepiece's top and sides are made of sapphire crystal, so you can watch your tiny engine churn.

The intricate movement comprises 578 components, and the tiny crankshaft driving the engine is "one of the smallest and most complicated watch parts ever manufactured," according to Bugatti.

The movement is suspended at its four corners by pieces that look like shocks off of the Chiron.

If you look closely, you can see that the power-reserve indicator on the left-hand side of the watch is shaped like a fuel gauge. The Bugatti Chiron Tourbillon doesn't take gas, but if it did, it would surely demand premium.

The watch's exterior is also designed with elements of the Chiron in mind. At one end, there's a miniature version of Bugatti's iconic horseshoe grille ...

... and the swooping lines on the side of the watch are meant to echo the same element that's found on both the Chiron and its predecessor, the Veyron.

The partnership between Jacob & Co. and Bugatti began in 2019 and has yielded a few other watches, but none as completely over the top as this latest creation.

If you're a Bugatti fan, then, you have a simple choice: add a new Ferrari to your collection, or buy a $280,000 watch to match your Chiron.

• Andrew Hildreth is a Liveryman of the Worshipful Company of Clockmakers and a watch consultant to Christie's and Christie's Education.
• He recommends these five watches that anyone can confidently wear in any situation, from a challenging 8 a.m. work meeting to a glamorous evening cocktail.
• A dress watch should be timeless, fit with both formal and casual wear, and be both clean and elegant, he says.
• From the original Patek Philippe Calatrava to the presidential Rolex Day-Date, these watches have adorned the wrists of greats.
• Visit Business Insider's homepage for more stories.

A watch is as much a part of a well-dressed man's attire as his shoes or tie. It should complete the ensemble without drawing attention to itself: always in style, with any choice of formal or casual wear, suffering none of the vagaries of fashion. It should look as appropriate now as it would have 20 years ago or two decades from now.

Not surprisingly, the style and design codes of the dress watch haven't been altered to any great extent over the last few decades — or for that matter, the last century. 

I should note that in this ever-increasing informal age, the list below is very much a personal choice: I favor a clean and parsimonious approach to the dial, with only hours, minutes, and perhaps seconds, so the time of day can easily be read. The watch should slip easily below the shirt cuffs of your favorite formal shirts, but also look equally good with your less formal wear.

In short, the ideal dress watch should be timeless. And while it's not a requirement for it to be mechanical, the five selected below all are. 

1. Patek Philippe Calatrava, $22,680 recommended retail price

The Patek Philippe Calatrava (reference 5196) is arguably the quintessential dress watch. The original Calatrava, the reference or "model number" 96, was created in 1932 when the Stern family, long-time dialmakers, acquired the business. The reference 96 and its current direct descendent were always intended to be simple and elegant, right for any occasion.

Over the decades, Patek has introduced an array of Calatrava models remaining true to the same design codes since inception. It could be argued that its style is the ultimate expression of a dress watch. From its first 1930s earnest elegant form, through the teardrop lug (the term of the case element connecting the watch to the strap) and modern expression cases of the 1940s and 1950s to the futuristic ergonomics of the following two decades, the Patek Calatrava kept simple, balanced, and legible dials where you could tell the time at a glance.

The current model represents the sublimation of all its previous iterations: a slim, erudite case design, a clear and legible dial with baton markers representing the time (for the gold-cased versions), and Breguet numerals (a font named after the famed watchmaker, see below) for the platinum case. The Calatrava fulfills everything you would want to see in a dress watch.

2. Cartier Tank, $9,750 recommended retail price

First among equals would be the Cartier Tank — as avant garde today as it was a century ago. Although the design has been around for almost as long as the wristwatch itself, the number of watches actually produced has always been small, making the use of the Tank as a dress watch relatively rare.  

Using the new instrument of destruction in WWI, the tank, as his muse, Louis Cartier integrated lugs and the near ideal dimensions of the rectangular case. That, coupled with the history of one of horology's most long-lasting and celebrated designs, make the Cartier Tank an ideal dress watch.

Over the years, changes to the original design have been minimal. Recently, with Marie-Laure Cérède helming their watch design department, Cartier's classics have made a telling comeback. In the current line-up, the Tank Louis Cartier watch (ref. W1529756) stands out with its sublime elegance; the design and dimensions being almost the same as the original.

This model has never looked so good or provided better value for your money. And if it was sufficiently sartorial to grace the wrists of Rudolf Valentino and Andy Warhol among many others, I'd dare say it's good enough for yours.

3. Vacheron Constantin Patrimony, $18,100 recommended retail price

On equal footing with the Patek Philippe Calatrava is the Vacheron Constantin Patrimony (ref. 81180). Founded in 1736, Vacheron is the oldest continuous name in horology.  Although a modern design — the Patrimony was introduced in 2004 — its dimensions and aesthetics have their origin in their watches from the 1950s, proof that good design is never out of style.

A large, simple marked dial with slim baton hands — only hours and minutes — the Patrimony embodies the very definition of frugal elegance in design. 

4. Breguet Classique, $18,800 recommended retail price

Breguet is possibly the most famous name in horology. Much of what we know about watchmaking can be traced back to the Frenchman who, in the words of watch expert and author George Daniels, took horology from "the slave of science, [and] lifted it to a new dimension of visual and technical excellence."

Modern-day Montres Breguet (acquired by the Swatch Group) continues to create watches in the same instantly recognizable style. Breguet's Classique (ref. 5157) is the modern iteration of the timepiece that Abraham Louis Breguet himself championed: a round case, termed by the man himself a savonette, a patterned silver dial with lacquered Roman numerals, and thin "Breguet style" blued hands.

This aesthetic was pioneered by Breguet two and a half centuries ago; it looked good then and still looks good today. Classic, as the name suggests and as history bears witness, is timeless.

5. Rolex Day-Date, $39,250 recommended retail price

The final choice is not strictly a "dress watch" for suits and special occasions as some might argue — but hear me out: The Rolex Day-Date, otherwise known as the "Presidential Rolex," was introduced at the Basel Watch Fair in 1956. It gained that moniker because President Dwight D. Eisenhower wore one and it was thereafter spotted on the wrists of other presidents and world leaders, such as John F. Kennedy, Gerald Ford, Martin Luther King, Boris Yeltsin, and Fidel Castro. It is rumoured that even Mao Tse-Tung wore a Day-Date.

The watch does boast a complication: Both day and date simultaneously move at midnight, and the mechanism features a quick set for months that do not contain 31 days (there are only five times in the year when an adjustment is required).

This Rolex reference has never been produced in anything other than precious metal. Over the years, it did so with a variety of dial colors and materials, garnering a number of different titles along the way. The modern white gold form of the Day-Date (ref. 228239) comes with a white meteorite dial and diamond baguette markers. It's the elegant side of bling: eye catching enough while not gaudy with adornment. Not your usual dress watch, but if that's what you like, a worthy contender to consider.

Ultimately, it all depends on your style and taste. The watch you choose to wear should match and reflect your style. Elegance is very much in the eye of the beholder, and while dress codes and tailoring have changed over the decades, Honoré de Balzac's requirement still stands: "The boor covers himself, the rich man or the fool adorns himself, and the elegant man gets dressed." The watch you choose should fulfill that mandate.

Dr. Andrew Hildreth is a Liveryman of the Worshipful Company of Clockmakers and a watch consultant to Christie's and Christie's Education. Over the past two decades, he has contributed to a number of publications including GQ, Vanity Fair, Hodinkee, Financial Times, and The Wall Street Journal.

NOW READ: 15 bourbons that should be on your radar, according to 3 bourbon experts

Join the conversation about this story »

NOW WATCH: Why electric planes haven't taken off yet

• Avi Hiaeve, a millennial who owns the high-end watch retailer Avi & Co., spoke with Business Insider about the future of the watch industry and the value of investing in luxury watches.
• Wealthy people are increasingly placing their money into "real assets" such as artwork, real estate, and luxury items.
• The luxury industry is expected to go through a major shakeup, though some sectors are already showing signs of recovery.
• Visit Business Insider's homepage for more stories.

It was a Wednesday night in February when Business Insider first met Avi Hiaeve at his luxury watch party in New York City's Midtown Manhattan. Jamie Foxx was the host, while Moët & Chandon was passed around; appetizers that included both caviar and chicken wings were served on small dishes. A rare Tiffany blue Rolex was situated not far from a Patek Philippe, and diamonds — lots of diamonds — lined the back walls of the room.

The shindig's environment (and the young crowd it drew) was proof positive that people still love luxury watches — and love splashing out major cash on them. If anyone thought the pandemic would hit the watch sector hard, they were right. But despite widespread market downturn, people are still buying watches. And if anything, they are just as popular (and as expensive) as ever before.

"In the market, there are watches for everybody. If you want to spend $5,000, you're going to find yourself a $5,000 watch," Hiaeve told Business Insider. "The celebrities and the artists and all of them, they're not wearing watches under $100,000 anymore, everything they want is over $100,000. It's really gone through the roof."

Birkin bags, Basquiat paintings, and Richard Mille watches

Born in Israel, Hiaeve, 35, grew up in Queens, New York. At 16 years old, he opened Avi & Co., an exclusive high-end retailer that now caters to some of the notable names in the world — Foxx, Nicki Minaj, and Justin Bieber, to name only a few. His family has always been in the jewelry business, he says, but the watch industry is where he truly found his calling.

"Jewelry was something my family was doing, so it was easier to learn it. But watches, this is something that came from a hobby," Hiaeve said. "I used to love watches and play around with them. And you know what? I just felt like they were good investments. After a while, it became my main business."

Most of Hiaeve's clients come from word of mouth — basketball players, rappers, and football players flock to him because they're referred by existing customers. In addition to the hype around owning a Rolex or Richard Mille, he says, most understand that many luxury watches hold good investment value, like a Birkin, or a Basquiat. These are all high-end, quality goods that have historically proven to retain the value paid for them or even become more valuable over time, often significantly.

"A lot of people turn from a hobby to a business in the watch game," he said. "A lot of collectors that I know that used to buy from me, after a while they started buying for investments — buying, selling, and trading."

Though fashion and luxury expect to see a $600 billion decline in sales this year, very expensive items such as Hermes bags have repeatedly proven to have a timeless quality, relatively untouched by financial discord and market downturns. And people love the brand as much as they ever have: When Hermes reopened some stores in mid-April after months of widespread closures amid the region's coronavirus lockdown, the brand brought in a whopping $2.7 million in just one day at its flagship store in China alone.  

Hiaeve says Richard Mille is the Hermes of watches. On the resale market, Mille consistently goes up in value. He told Business Insider he's seen some go from $100,000 to $120,000, up 20% to 30%, every few months. Celebrity watch collectors clearly agree: Drake has one that costs at least $750,000.

The next best investment, he says, is a Rolex. Not just because they are beautiful, but because they also retain their value. From there, Audemars Piguet— Bieber bought one in 2019 for $50,000 as a "lil wedding gift" to himself. Patek Philippe is also a solid choice — Jay-Z owns one worth at least $2.2 million. 

"[Richard Mille is] the most expensive," Hiaeve says, before revealing that he sold one for almost $3 million. "It's not just the craftsmanship, it's the supply and demand. They only make maybe four or five thousand watches a year. So you can't really get them."

Many are turning toward watch investing right now to avoid the stock market

Before the coronavirus pandemic hit and destabilized global financial markets, the luxury sector was still recovering from the impact of the Hong Kong Protests, which saw Swiss watch imports to the region decline by 26.8% in comparison to 2018. Now, amid the coronavirus pandemic, the luxury watch industry is preparing for its worst year yet. 

Rolex shut down all of its Swiss factories, while Richemont, the luxury conglomerate that owns Cartier, has discounted secondhand pieces on its vintage resale site, Bloomberg's Corinne Gretler reported in March. Watch fairs throughout the world have been called off, while smaller and newer brands brace for impact to their bottom lines.

But early data suggests that the industry might not be as hard hit as expected, at least not for some categories. Digital watch marketplace Chrono24 released two reports on the state of the global watch industry in light of the coronavirus crisis — one in March and one in April— which found that, though there has been a quick drop-off rate in luxury goods, there has also been a quick recovery time in some regions and for some sectors.

The vintage watch market, in particular, is still thriving for some despite the coronavirus, GQ's Cam Wolf reported in April. Wolf noted that Sotheby's has been selling more classic watches, even as major brands call off their plans to release new models.

Adam Golden, the owner of Menta Watches, told Wolf that while his overall watch sales had declined, the pandemic has brought new opportunities his way — like a German client who wants to "park some money" in a $300,000 portfolio of watches instead of in the stock market and requested Golden's help putting that portfolio of "stable watches" together.

SEE ALSO: Drake's $185 million private plane just got a custom makeover from Louis Vuitton designer Virgil Abloh, and the exterior is now sky blue and covered in clouds

DON'T MISS: Wealthy people are paying limo drivers 'hundreds of dollars' to shuttle their mail from Manhattan to the Hamptons

Join the conversation about this story »

NOW WATCH: Why Pikes Peak is the most dangerous racetrack in America

• Legendary watch manufacturer Patek Philippe recently revealed its new $630 million production building on the outskirts of Geneva, Switzerland.
• Construction on the building began in July 2015 and was completed in April 2020.
• Patek Philippe released a limited-edition Calatrava watch to commemorate the opening of its new building, Only 1,000 of the watches are set to be made, and each will retail for $28,351.
• Visit Business Insider's homepage for more stories.

Luxury watch manufacturer Patek Philippe just announced the completion of its new production building on the outskirts of Geneva, Switzerland.

To commemorate the occasion, Patek Philippe, which was founded in Geneva in 1839, created a limited-edition watch — a steel Calatrava, Reference 6007 — which is set to retail for $28,351. Only 1,000 of these watches are set to be made.

Patek Philippe started the construction of its new production building in July 2015. The new building was completed in April 2020 and cost $633 million to build. Keep reading to see images of the new building, as well as images of the new limited-edition watch.

SEE ALSO: A millennial entrepreneur who runs a high-end watch retailer explains why now is the time to invest in watches — and which timepieces are the most valuable

DON'T MISS: No more ritzy galas, dinner parties, or jet-set fairs: The art world is coming to terms with a 'shelter-in-place' market. 5 insiders reveal how the industry is faring — and their hopes for what's next.

Patek Philippe began construction on its modern, new building in July 2015 and completed it in April 2020.

The company decided to build a new production facility because it outgrew its original building in Perly, Switzerland, which was constructed in 1966.

The new building cost $633 million to build.

In data provided to Business Insider, Patek Philippe said its new basement has the equivalent volume of 90 Olympic swimming pools, and its formwork equals 15 football fields. The building also used over 14,000 tons of steel — or the equivalent of two Eiffel Towers.

In total, the building has 10 floors and is divided into five "segments," which are separated by four staircases.

Included in the 10 floors are four basement levels. The building also has 20 passenger and freight elevators. 

The ground floor and the first floor will be used for watch production, as well as the finishing of moving parts such as plates, wheels, and bridges.

The second floor will be used for machining, manual polishing, the assembly of exterior parts, and gem setting. 

The third floor will house production-relation departments, such as Research & Development, while the fourth floor will be used for manual engraving, enameling, and other handcraft skills.

The fifth floor will be a penthouse restaurant, which can seat 880 guests. The floor will also have four VIP lounges. 

According to the press release, people started relocating to the new building in July 2019.

To commemorate the completion of the new building, Patek Philippe launched a new limited-edition Calatrava watch. The watch has a gray-blue hue, with a satin finish, and white dial imprints.

The watch also has applied numerals and white-lacquered hands with a white and gold coating. Its dial is also complete with a "carbon style" texture.

Only 1,000 of these watches are set to be made.

The watch currently retails for $28,351.

• Andrew Hildreth is a Liveryman of the Worshipful Company of Clockmakers and a watch consultant to Christie's and Christie's Education.
• If you're thinking about going "all in" with the horological asset world, he says, these are his top picks for high-value vintage watches.
• The Rolex "Paul Newman" Daytona is one of the most famous and generally sought-after vintage Rolex watches, he says.
• Meanwhile, the 6062 Triple Calendar Moonphase "is an undoubted shining star," he adds — the watch reference for the last Emperor of Vietnam and adorned by US military generals.
• "Of all the Calatrava models that Patek Philippe has ever produced, the reference 2526 is not only archetypal — it also has one with the rarest of dials."
• Visit Business Insider's homepage for more stories.

One of the undeniable trends in the auction world in the last decade has been the rise in vintage watch prices. Looking at the overall market and depending on how you want to measure the price rise, vintage watches have, on average, risen in price somewhere between 10 and 20%.  

The market for vintage watches has equally grown in volume. Across the four major auction houses — Christie's, Sotheby's, Phillips, and Bonhams — the vintage watch market is worth approximately $2 billion to $3 billion, with the value of some watches skyrocketing in recent years, Fortune reported in 2017. In the auction market alone, Christies has gone from sales of $8 million in 2004 to $130 million in 2014. 

Vintage watch collecting is no longer a market for "anorak devotees" alone. What was once a closed world has become a growth industry. It's now seen as an investment or something that's "cool" and part of an overall dress sense. The popping up of blogs and websites such as Hodinkee, Mr. Porter, and The Rake/Revolution have further helped illustrate growing interest in watches.   

Vintage watches have become a store of value in the same way as art and automobiles. Recent auction results have propelled vintage watches into the same asset class limelight — an asset that can be held, enjoyed, and then potentially sold with little downside.  

There are highly specialized elements to look for in a vintage watch.  It's a murky world, and with any investment, due diligence is essential. Yes, you can wear them, but with any collectible it's best to do so sparingly — one mark or accident will affect the value of the asset considerably.  

Every year there appears to be a new record price for a reference set at auction that makes the headlines.  

For example, four years ago, one of only four known Patek Philippe reference 1518 in steel sold for over $11 million. Three years ago, it was the Rolex ref. 6062 "Bao Dai." And two years ago, it was Paul Newman's own Paul Newman "exotic dial"Rolex ref. 6263 Daytona.   

Condition, originality, slight variations in dial design, fonts (what and how something is written on the dial), and that last and intangible factor — desirability — all make up the price paid. 

In times of economic uncertainty and turbulent stock markets, there tends to be a retrenchment to collectibles and assets in physical forms. But as the small print on any asset sale will tell you, the value of your investment can go up as well as down.

For the moment, vintage watches are on the up; but "caveat emptor"— buyer beware. If you're thinking about going "all in" with the horological asset world, here is my starter set of five high-value watches.

1. The Rolex 'Paul Newman' Daytona 

Produced between 1966 and 1971 and arguably the most famous and generally sought-after vintage Rolex watch, the general class of Rolex "Paul Newman" Daytonas (reference numbers 6236, 6239, 6240, 6241, 6262, 6263, and 6264) are the current "blue chip" investment of the watch world. What makes the Rolex Daytona "Paul Newman" different from any other Rolex Daytona of the same reference is the dial.  

That's it. Just the dial.  

The exotic or Paul Newman dial features an art deco style font for the numerals, and the hash marks have a small square at the end. Additionally, there's a small "step" in the dial between the outer minute track and the center of the dial. Generally, the dials are monochrome (black and white), but in some references the dial features a third color (red).  

There are plenty of Rolex Daytona's of the same reference in stainless steel with "regular" black dials, but it's the version with the exotic dial — or, as termed by the Italian collectors somewhere around the end of the 1980's, the "Paul Newman" dials — that have become the collectible.  

Of course, the reason that the exotic dial Daytonas are now so sought after equally lies in the supply side. The dials are produced in limited numbers.  

The world of vintage Rolex is complicated and filled with detailed minutiae that you need to know. You must do your homework very carefully first if you're thinking of acquiring one. For a good condition, good provenance version, expect to pay six figures.

2. The Patek Philippe Grand Complication ref. 2499  

Introduced in 1951 to succeed the ref. 1518, to many watch collectors, the perpetual calendar ref. 2499 is the ultimate Patek.  

Part of the appeal of the ref. 2499 is the modern dimensions and layout for the dial. The ref. 2499 had four iterations over 35 years (until 1986) — and with only 349 actual watches produced, there are some that are more desirable than others.  

The first series are arguably the rarer out of the four, and about half of the ref. 2499 watches are from the third series, making them the least valuable.   

The value of a ref. 2499 comes from the metal used for the case and the dial. A yellow gold reference 2499 first series is considerably less valuable than the same watch with a rose gold case. To add to the rarity factor, and therefore the value, the names of past prominent retailers can be found on the dial: for example, Serpico Y Laino, or Asprey or Cartier.  

The 2499 has rock-star status and rock-star provenance. Unsubstantiated rumours, except for the existence of a single photograph, are that Yoko Ono bought a yellow gold version for John Lennon on his 40th birthday.  

But the rarest reference 2499 are cased in platinum, and there are only two in existence. One is displayed in the Patek Museum in Geneva, and the other was previously owned by Eric Clapton and sold by Christie's in 2012 for $3.63 million. In today's market, it would auction for considerably more.

3. The Rolex 6062 Triple Calendar Moonphase

Among Rolex's galaxy of vintage watch references, the 6062 Triple Calendar Moonphase is an undoubted shining star. It was the watch reference for the last Emperor of Vietnam, (appropriately named the "Bao Dai"), adorned by US military generals, and is a particularly desirable watch among vintage Rolex collectors.  

The reference 6062 has it all: rarity, a near ideally balanced dial design, and a short finite time (three years) when it was made, and because of that production numbers for the reference were limited to a few hundred across a number of different metals (including steel) and with a number of different dials.  

In short, there's plenty of scope for unique or extremely rare examples.  

However, as with all vintage watches, condition is paramount, and a true and correct order to the watch will ensure a premium.

The watch is the only Rolex triple calendar housed in the iconic Rolex "Oyster" case, which brings certain benefits: waterproofing properties preserving both movement and dial from water moisture and dust. Second, the dimensions of the mid-century Oyster case, at 36mm, were near ideal. The 6062 was produced in yellow gold, rose gold, and stainless steel, with two-tone silvered dials and sometimes, in rare cases, black ones. 

But what makes the 6062 reference special in the eyes of Rolex collectors is the known variations in the dial. The dial adds to the rarity for this reference. The gold models featured a series of dial configurations ranging from the "Stelline" (with stars as hour markers), the "Pyramid" (with triangular indexes at the quarter hours), darts (with arrow head-like indexes), diamond indexes (like the Bao Dai), and the 3-9 configuration. The steel 6062s only featured two-tone silvered dials with the 3-9 Arabic numerals in steel or yellow gold and luminous alpha hands.

4. The Patek Philippe Calatrava ref. 2526

Of all the Calatrava models that Patek Philippe has ever produced, the reference 2526 is not only archetypal — it also has one with the rarest of dials.  

Nearly all of the reference features a "fired enamel" dial, referred to as a grand feu email dial. Most of the dials are white, or what has become a cream color. A smaller number have a black dial, and being the rarer model commands a premium.  

What helps with vintage Patek, although it's not always fail proof, is the existence of the Patek archives. The archives can confirm whether or not the watch was sold with the dial in question. With the likes of Ben Clymer (founder of Hodinkee) calling the ref. 2526 the ultimate time only automatic watch, with only about 600 being made over the course of eight years and with dials cracking or deteriorating, truly original versions are starting to gain a premium.  

The ref. 2526 was released in two editions, with the first series being the rarer. You can tell a first series dial from the second as the enamel dial around the hour markers is slightly indented. If the watch has a retailer's name on the dial (in the same manner as the reference 2499), then it'll be worth more — the same if the watch has Breguet or Arabic font numerals.   

Although perhaps not as sought after as others on this list, the watch represents one of the timeless vintage watches to collect. 

5. The Patek Philippe Nautilus

Designed by Gerald Genta, the originator of the luxury steel watch, for Patek Philippe in 1975, the watch is more popular now than it's ever been over the approximate 45 years it's been in production.  

The Nautilus was selected over Gerald Genta's other masterpiece, the Royal Oak, as the vintage watch to consider acquiring as prices for the Patek all-steel luxury sports watch have swiftly escalated in recent years. The watch design has changed very little.  

The watch case is based on a ship's porthole construction with an integrated steel bracelet. Different finishing techniques between brushed and polished provide texture to the design. If you can believe the legend, the watch was designed on a napkin over a dinner at the Basel Watch Fair.  

The queue for new Nautilus watches, if you can get on the list, is capped at six years — no wonder determined collectors have sought out the auction market and pushed prices on an ever-increasing curve upward.

SEE ALSO: The 5 best dress watches for businessmen, according to an expert watch consultant

Join the conversation about this story »

NOW WATCH: How waste is dealt with on the world's largest cruise ship

• At just 28 years old, Emmanuel Tarpin is one of high-end jewelry's rising stars. 
• Tarpin has amassed an elite list of clients over the last five years, winning the Rising Star prize from Fashion Group International and Designer of the Year' at the 2019 Town and Country Jewelry Awards along the way.
• Speaking to Business Insider, Tarpin opened up abut about his early career, the future of his brand amid the pandemic, his thoughts on fine jewelry as an investment asset, and how his designs caught Rihanna's eye.
• Visit Business Insider's homepage for more stories.

The sun was still blazing as evening settled in Paris. It was 6 p.m., and jewelry designer Emmanuel Tarpin was in his apartment, winding down his day.

At around a quarter past the hour, Business Insider called — a little bit late, but the goal still the same: to find out how this 28-year-old became one of the most buzzed-about jewelry designers in the world almost overnight.

"I've had a passion for jewelry since I was a child," he told Business Insider. "We always talk about the passion and creation of the fashion designer, but the jeweler these days always has to be discreet, and I think that's a shame." 

Tarpin graduated in 2014 from the Haute École d'Arts Appliqués school in Geneva, Switzerland, where he studied jewelry design. Afterward, he began working in the Van Cleef & Arpels High Jewelry workshop on the jewelry bench, where he refined his design techniques and craftsmanship. 

But after three years, he was ready to try something new.

"It was frustrating to make jewelry that didn't have my own designs," he said. "I wanted to start something that was my own, and I wanted to evolve, to try new things, to try my own designs, and to create my own brand." 

So in 2017, he launched his eponymous jewelry line and flew to New York City. Nobody there knew his name, but he was determined to show the jewelry industry's top players that he could, just as effortlessly, play their game. 

"I got an appointment with Christie's in New York and I showed them my first jewelry design piece, and they really loved it," he said. "Immediately, they put it up for auction." 

His first pair of earrings sold at Christie's for $25,000 in 2017, with the auction house describing him in its post lot text as "a promising young jewelry designer." And just like that, then 25-year-old Tarpin became a rising star.

Today, the jeweler has built a roster of clientele so exclusive that he works with them only by private appointment. He's not sold in stores or online and doesn't even have his own gallery — yet, at least. 

"Everything is one of a kind" 

Like most millennial entrepreneurs, leading an intimate, authentic brand is important to Tarpin. 

"I love to take time with my clients. I want them to see my universe, what I create, and where my inspiration comes from," he said. "I always traveled a lot with my family and that always inspired me. I also love nature. I grew up in Annecy [in southeastern France], with an ambience of nature." 

Tarpin doesn't make many pieces a year and says it takes a few months for him and his jewelry team to bring his projects to life. For the designer, picking the gemstones is one of the most important parts of his process, and one he tries to do all by himself. 

"I love white diamonds, but also I use a lot of colored stones like emeralds, sapphires, and even fine stones — not precious ones — but even like tourmaline," he said. "Everything is one of a kind." 

After designing a piece of jewelry and meeting with a client, he then instructs them carefully in how to wear their new accessory: with simple clothes that will help bring attention to his designs. "It's always great to have a very simple dress that will allow the beautiful detailing to be seen on the jewel," he said.  

Instructions like these helped bring even more attention to the young designer, and in January 2019, he was presented with both the Rising Star prize from Fashion Group International and Designer of the Year at the Town and Country Jewelry Awards.

Later that month, Rihanna's stylist called. The singer loved a pair of his earrings. "And that's how it all started — in quite a simple way," he said of his work with the world's richest female musician.

That February, Rihanna stepped out wearing a pair of Tarpin's black aluminum yellow gold seashell, 14-carat diamond earrings. She was on her way to Beyoncé and Jay-Z's exclusive Oscars afterparty at the Chateau Marmont, wearing a leopard print Alexandre Vauthier mini dress.

Jewelry can be a smart investment — but perhaps more importantly, it's art

Fine jewelry has long been seen as a good investment, sitting alongside other "investments of passion" like wine, whiskey, art, classic cars, and even Birkin bags, as items that typically increase in value over time.

But as the Financial Times' Kate Beioley writes, jewelry can be a hard asset class to tap into. 

Like blue-chip art, most demand follows a very select and specific sub-class: diamonds and exceptional gemstones. And in the past few years, the jewelry market hasn't been the most stable. Artnet reported that in 2019, global jewelry sales fell from $1.8 billion to $1.15 billion. All of which is to say: Consumer tastes are changing and the clarity, color, carat, and cut of a jewel have never been more important. 

Despite a volatile market, the pandemic brought forth conflicting messages — that the jewelry sector is set to take a massive financial hit, but also that when the going gets tough, people who can afford it still do buy diamonds.

Luxury retailers Moda Operandi and Olivela both told Business Insider that they saw an uptick in jewelry sales amid the height of the pandemic, and even Tarpin reports that the pandemic hasn't hit his business too hard. 

"For what I create for my clients, nothing has changed a lot," he said.

Ultimately, Tarpin is not a fan of viewing jewelry as an asset class, and when asked about its investment value, the young designer shied away. To him, it's art; he views jewelry as "sculpture you can wear." 

"Of course, there is the idea of investment, but I don't really think of that when I create a piece. Jewelry is something very intimate, very personal," he said. "After the pandemic, maybe people will think differently about how they buy jewelry. Maybe they will actually think more about feelings and buy things they enjoy."

SEE ALSO: A millennial entrepreneur who runs a high-end watch retailer explains why now is the time to invest in watches — and which timepieces are the most valuable

NOW READ: Drake sleeps on a $400,000 mattress made of stingray skin and horsehair. Its designer tells us how he created it — and why it's so expensive.

Join the conversation about this story »

NOW WATCH: Why Pikes Peak is the most dangerous racetrack in America

Rolex has just unveiled its latest collection of watches, including a revamp of its iconic Oyster Perpetual Submariner series. The Submariner was last updated in 2012, according to Forbes.

The latest Rolex Submariner retails for $8,100, while the Rolex Submariner Date goes for $9,550. Each version has been redesigned with a 41 mm case (slightly larger than the standard 40 mm it's been for decades), and is equipped with a new calibre (the 3230 for the Submariner, and the 3235 for the Submariner Date).

Rolex also released its new Datejust collection, which comes in a variety of different colors, and a new Sky-Dweller with a rubber strap typically reserved for Rolex's sport watches, which retails for $40,000.

As Business Insider previously reported, watches are often regarded as a stable asset class, alongside other "investments of passion" like artwork and jewelry. Wealthy people are increasing parking their money in real assets like these.

Check out the new Rolex line-up, including retail prices, below.

SEE ALSO: A millennial entrepreneur who runs a high-end watch retailer explains why now is the time to invest in watches — and which timepieces are the most valuable

DON'T MISS: How a 28-year-old became one of the most buzzed-about luxury jewelry designers in the world, with an elite list of clients that includes Rihanna

The Submariner

Price: $8,100

The latest Rolex Oyster Perpetual Submariner has been redesigned with a larger case (now 41 mm). The Submariner now uses calibre 3230.

Source:Rolex

The Submariner Date

Price: $9,550

The Submariner Date, also with a new 41 mm case, is slightly pricier than the Submariner. It now uses calibre 3235, and features both time and date functions. 

Source:Rolex

The Submariner Date

Price: $39,650

Source:Rolex

The Submariner Date

Price: $14,300

The latest Submariners also come with a Chromalight feature display, in which the watch hands and hour markers are complete with a luminescent material that emits a blue glow when in the dark. 

Source:Rolex

The Datejust 31

Price: $7,800

Rolex also redesigned its Datejust series, which is now equipped with calibre 2236 and the Superlative Chronometer certification. Its case is 31 mm. The new Datejust comes in four different colors and has a fluted bezel in 18-carat white gold.

Source: Rolex

The Datejust 31

Price: $8,050

Source: Rolex

The Datejust 31

Price: $8,050

Source: Rolex

The Datejust 31

Price: $16,050

The Datejust pictured above features a bezel comprised of 46 brilliant-cut diamonds and a Roman VI adorned with even more diamonds.

Source: Rolex

The Oyster Perpetual 41

Price: $5,900

Rolex also redesigned its Oyster Perpetual series, now with a larger 41 mm option in addition to the 36 mm models. The new Oyster Perpetual 41 comes with 18-carat yellow gold hands and hour markers on a silver dial.

Source:Rolex

The Oyster Perpetual 41

Price: $5,900

There's also a second version of the Oyster Perpetual 41 with 18-carat white gold hands and hour markers on a bright black dial.

Source:Rolex

The Oyster Perpetual 36

Price: $5,600

The Oyster Perpetual 36 comes with five new, vibrant color watch faces: pink, blue, red, green, and yellow.

Source:Rolex

The Oyster Perpetual 36

Price: $5,600

Source:Rolex

The Oyster Perpetual 36

Price: $5,600

Source:Rolex

The Oyster Perpetual 36

Price: $5,200

Source:Rolex

The Oyster Perpetual 36

Price: $5,600

The Oyster Perpetual 41 and the Oyster Perpetual 36 models are each equipped with Rolex's new calibre 3230, which was launched earlier this year. 

Source:Rolex

Rolex Sky-Dweller

Price: $40,000

The last new watch from Rolex is its upgraded Oyster Perpetual Sky-Dweller, which has 18-carat yellow gold hands and hour markers. It's equipped with calibre 9001 and has a 42 mm Oyster case. It's also the first Sky-Dweller to feature an Oysterflex bracelet.

Source: Rolex

• eBay Authenticate helps users shop for authentic luxury items like watches, handbags, jewelry, and collectibles like comic books, sports trading cards, and gold coins.
• Every item listed with eBay Authenticate is meticulously inspected and verified to be authentic by experts and is already in eBay's possession when you purchase it. That way, you can shop without worrying about getting scammed or being sent a fake.
• Below, I break down how it works for both buyers and sellers.
• Sign up for Insider Reviews' weekly newsletter for more buying advice and great deals.

I know it's widely accepted that eBay has a bit of a reputation for being fishy, filled with scammers and counterfeit goods. But I want to clear something up here: With all the strides the company has made to protect buyers, that reputation is undeserved.

While there have, in fact, been instances of fraud and fakes on eBay (unfortunately, you can expect that on any platform where independent buyers and sellers have the autonomy to do business without a ton of oversight), the company has made amazing strides to improve the user experience for buyers and sellers and ultimately drive smoother transactions. From having plenty of brands sell products directly through the site to offering extensive buyer protection, eBay is a surprisingly safe place to shop.

Now, the brand is continuing its safe-shopping efforts with a new program called eBay Authenticate.

As a sub-section of the site, eBay Authenticate was designed to help users shop for luxury items like handbags, watches, and jewelry and collectibles like gold coins, sports trading cards, and comics with 100% confidence. Each item listed for sale has been verified to be authentic by an expert and is fairly priced based on factors like condition, rarity, and current market value.

To fully understand eBay Authenticate, it's best to learn how it works as a seller first, because that's where the inventory you will shop as a buyer comes from.

Here's how it works as a seller:

Let's say you have a designer handbag that you want to sell. The first step is to check if your item is eligible to be sold on eBay Authenticate by entering the brand, item type, and condition. If your item is eligible, you can then send it into eBay for authentication using a prepaid shipping label. From there, independent experts authenticate, price, and list your items for sale on eBay Authenticate. When your item is purchased, you get paid and eBay handles shipping the item to the buyer.

It's worth noting that eBay takes a 20% transaction fee when authenticated items are sold. Although that's quite a bit more than eBay's standard 10% transaction fee, it's worth it. You will find that the verified authenticity almost always makes it easier to sell your item, rather than listing it yourself — or using another avenue of sale. Buyers want to shop with confidence, and this is an easy way for them to do it.

Here's how it works as a buyer:

If you're accustomed to shopping on eBay, using eBay Authenticate isn't much different — you shop, pay, and receive your items in the mail. However, there are several key benefits that alleviate the concerns associated with buying big-ticket, rare, or collectible items online. 

Since all of the items are professionally authenticated and in the possession of eBay at the time of your purchase, you can guarantee that the item you receive is the same item in the listing. There's no chance of spending hundreds or thousands of dollars only to never hear from the seller again or to receive a counterfeit item in return (granted, there are protections for that, but it doesn't make getting scammed any less frustrating). 

In the rare instance that you do have doubts about the authenticity of an item you've received, you can contact the seller, return the item in the same condition you received it in with the eBay Authenticate tag still attached, and the experts will re-authenticate your item. If they can't confirm the authenticity of your item, you'll receive a full refund. This is a major benefit as some sellers on eBay don't offer returns. If you purchase something on eBay outside of eBay Authenticate and it turns out to be counterfeit, you run the risk of being stuck with that item and not getting your money back, unless you ask eBay to step in and they're able to remedy the situation.

The best part is that shopping on eBay Authenticate costs you zero extra dollars. With all of the added benefits, there's really no reason not to shop — or at least browse — on eBay Authenticate for those high-end luxury items and collectibles you've been nervous about buying online.

How eBay Authenticate can save you money:

Generally, the safest way to get authentic items is to buy it directly from the manufacturer's retail store or website, but that's usually not the best option — or an option at all. For example, if you want a Rolex watch or a Chanel handbag, you will absolutely spend more at retail locations compared to shopping on eBay, since the items listed on eBay are generally going to be lightly used. 

The bottom line

I've never purchased a high-end watch or designer handbag on eBay, but I have made many successful purchases on the site in the past. My personal purchases mostly include collectible sneakers and rare BMW car parts, and much of my confidence in buying those things came from my own expertise.

Before I learned about this program, I would have steered clear of buying a watch, bag, or anything else that's highly collectible simply because I'm not an expert in those areas, but with eBay Authenticate, I wouldn't hesitate to do it. 

If you've come to terms with never owning your dream watch or designer handbag because of an egregious retail price, eBay Authenticate can make it a feasible reality. You'll also find many giftable items for the upcoming holiday season. 

Start shopping on eBay Authenticate now.

Join the conversation about this story »

• Billed as a futuristic smartwatch with a flexible display, the Nubia Watch has an enormous 4-inch curved touchscreen that wraps around your wrist.
• This smartwatch has standard fitness tracking features and can pair with your Android phone or iPhone via the Nubia Wear app.
• Currently on sale in China and on Kickstarter for $199, the Nubia Watch will get a wider release in October, but the price will jump to $399.
• Although it's certainly a unique smartwatch, we don't recommend it because of its limited functionality and poor software.
• You can find some great alternatives in our guide to the best smartwatches.

The eye-catching futuristic look of the Nubia Watch makes it stand out from the crowd of classic smartwatches. It wraps an impossibly large, bright, flexible OLED screen around your wrist, and it's guaranteed to draw inquisitive looks and questions. There's something undeniably surreal about that visionary expanse of curved glass, but closer inspection reveals a chunky watch that's bulky to wear and shoddy software with limited features.

While the Nubia Watch does represent a vision of the future for smartwatches, it feels weirdly dated at the same time. I wouldn't be surprised to see it on the wrist of Marty McFly in 1989's "Back to the Future Part II." 

I've been wearing it for the last week or so to see how it measures up to contemporary smartwatches. It's packed with the usual array of sensors and fitness tracking features, but the proprietary software that's running on it has some limitations. 

Should you consider dropping $199 for a discounted early model from Kickstarter, or save up $399 for the finished article due in October? Let's take a closer look. 

Design

Nubia uses the words foldable and flexible when talking about the 4.01-inch AMOLED touchscreen in the Nubia Watch, but just to be clear, this is a rigid device. The screen is not designed to fold, although Nubia did partner with Schott to create this watch, the same company that supplied flexible glass for Samsung's folding phones.

The AMOLED panel is bright and quite sharp at 960 x 192 pixels. You can see individual pixels if you look closely, because the density is only 244 pixels-per-inch (PPI), but it's easy to read and attractive. Colors jump out and the screen really comes to life when you select one of the animated wallpapers. I went for one that's heavily reminiscent of the green digital rain in "The Matrix."

Looking past the screen, the frame of the Nubia Watch is distinctly chunky. A matte metal frame sports two shiny, beveled sections on either side, with a solitary power button, which also takes you back, protruding from the right. Look around back, and you'll see the heart rate sensor and four pins for the square proprietary charger.

It's a big device that will look positively enormous on smaller wrists, but at 98 grams, the Nubia Watch is not ridiculously heavy. I have worn heavier smartwatches, though it is double the weight of an Apple Watch Series 5. 

No other smartwatch I've worn has provoked so many "What the hell is that?" questions. Unfortunately, it's not very comfortable to wear, even for short periods, and I can't imagine sleeping with it on, which is a shame because it does support sleep tracking. 

Specifications 

Dimensions: 41.5 x 14.2 x 125 mm (1.63 x 0.55 x 4.92 inches)

Display: 4.01-inch AMOLED 

Processor: Qualcomm 8909W (Wear 2100)

Memory: 1GB

Storage: 8GB

Connectivity: Bluetooth 4.1, GPS

Sensors: Accelerometer, gyroscope, pressure sensor, heart-rate sensor, geomagnetic sensor

Battery: 425 mAh

Water resistance: IP54

Setup and interface

There were a couple of hiccups with setup, as the Nubia Watch directed me to download a Chinese app, but after searching for Nubia Wear in the Play Store, I was able to install it on my Pixel 4 and connect with the watch. There is also an iOS version of the app.

It's not clear what's running on the Nubia Watch, perhaps a forked version of Android. It's simple enough to swipe around, with quick settings coming down from the top, notifications accessible by swiping up from the bottom, and the app drawer to the left or right.

The Nubia Watch offers access to Call, Messages, Sports, Health, and a handful of other apps and features. The Chinese version allows you to add an eSIM for calls directly from your wrist, but that's not an option on my review unit and I couldn't get calls to work through my phone. There's also a kind of find my phone app that is supposed to ring your phone so you can find it, a feature I find handy on the Apple Watch, but it didn't work for me either. Turns out a lot of things don't work on this smartwatch.

Part of the problem is that this is not final software and some things have been lost in translation. The animated wallpapers are a good example. I eventually found them bizarrely listed under Marquee Switch in the Barrage app. This poorly translated, barebones interface needs some work.

There's no support for third-party apps on the Nubia Watch right now, so you're stuck with the small preloaded selection.

Performance and features

Using the Nubia Watch is a strange experience. It feels a lot more like a small Android phone strapped to your wrist than a smartwatch. I found it was mostly quite responsive, but the quirky software is not intuitive. The extra screen real estate enables the Nubia Watch to display a lot on screen at once, but you have to turn your wrist to see it all. Some of the watch faces and animated wallpapers create interesting looks, but it feels like style over substance.

The watch uses an aging Qualcomm Wear 2100 processor with 1GB of RAM. This combination worked fine in my time with the Nubia Watch, but I feel that's largely because it simply doesn't do very much. There was an occasional stutter or freeze, but for the most part, it was smooth to swipe around.

The main features that are present and working relate to fitness tracking. For workouts, you have the less than impressive choice of recording a free workout, outdoor walking, and indoor or outdoor running. That's it. The health app shows sleep, heart rate, steps, distance, calories, and sport time. It feels a bit janky to use and I was unconvinced about the accuracy. When I went to look at the Nubia Wear app on my phone, which claimed it was connected and synced, it only showed data from that day — there was nothing for previous days.

Some messages from my phone came through to the Nubia Watch, but others didn't. I couldn't see any rhyme or reason to this. It's just very buggy. 

More than half of the 8GB of storage in the Nubia Watch is available and you can theoretically use it to load up some music, as there is a music app. Sadly, the option to add songs was grayed out in my Nubia Wear app, so I was unable to try it.

Although very little of the functionality worked as advertised, the Nubia Watch managed to chew through its battery quite quickly. Nubia suggests you can get up to seven days from a full charge, but that's not remotely realistic. Just like most other smartwatches, this is going to need to be charged every night.

The Nubia Watch did a fine job of counting my steps, measuring my heart rate, and reminding me to stand up when I had been sedentary for too long. It also proved handy for weather updates and it can keep time, but there's no way to spin this as a positive experience. I expect some of these issues will have been fixed by the time it hits general release, but it's impossible to recommend in its current state.

The bottom line

The Nubia Watch has a distinctive design and an unsurpassed 4-inch AMOLED screen that will draw interested glances, but it's also chunky and heavy. Worse still, the software is a mess and there's no third-party app support. 

Should you buy it? 

No. The fact that Nubia is trying to innovate is laudable and it might turn out a compelling curved smartwatch one day, but the current model is not ready to buy now. You will regret paying for something that feels this unfinished.

What are your alternatives?

After the Kickstarter campaign ends, the Nubia Watch will cost $399. If you have an iPhone, that money would be far better spent on an Apple Watch Series 5. For Android phone owners, the Skagen Falster 3 is worth a look at $295 or you could check out the Samsung Galaxy Watch 3 for $400.

Pros: Curved AMOLED screen is huge, futuristic design

Cons: Chunky and heavy, software is poor, no third-party apps, bugs galore

Join the conversation about this story »

Each year, jewelry brand GLD pulls into Rolling Loud, one of the world's largest hip-hop festivals, in a refurbished ice cream truck. The goal: to sell pendants and watches to festival-goers. The mantra: to just have a good time. 

"We just drive it around blasting music," Christian Johnston, GLD cofounder told Business Insider. "It creates a good atmosphere." 

It's just what's expected, perhaps, of the popular jewelry brand, whose elite client roster includes Justin Bieber, Cardi B, Russell Westbrook, and Kevin Durant.

The brand is cool enough to snag partnership with the NFL, the NBA, the MLB, and Marvel, creating pendants designed as superheroes, and with basketball, football, and baseball team logos. 

Johnston, 28, cofounded GLD alongside his childhood friend, Dan Folger, 27, in Pittsburgh, Pennsylvania, in 2015. Growing up, Johnston told Business Insider, they both always wanted to have nice jewelry, but never had the option to buy any for an affordable price. 

"You either had to spend thousands of dollars or you were getting something that was not so nice and you couldn't really be proud of," Johnston said. "To me, you should always be proud of your jewelry if you're going to have it." 

Each put just under $1,000 into the idea of making high-quality jewelry at a lower price point and the concept was a hit.

Five years later, the company is on track to do $50 million in revenue before the end of this year, per documents reviewed by Business Insider. 

"It was once a joke that everything we had we put into a cardboard box — our whole business could fit into a box," Johnston said. "Then the box got a little bigger, and a little bigger, and then before we knew it, we had our first office in Pittsburgh." 

Johnston credits Instagram for helping the brand grow

GLD, a play on the word "gold," seeks to create affordable jewelry for the aspirational customer. A Rolex, for example can go anywhere from $5,000 to above $12,000. The lowest-priced — and best-selling — GLD watch goes for $899.

It's a watch that is fully covered in diamonds — a process known as "icing." It is offered in either 18-carat plated gold or 14-carat solid gold, with the dial options of either white, red, and black.

Watches take a long time to produce, Johnston said, but GLD aims to create products that can compete with the Rolexes and the Audemars Piguets that the average consumer is priced out of buying. This means paying close attention to how the band, case, bezel, movements, and dials come together. 

Johnston said he is also particular about the types of diamonds he uses, making sure to source from a dealer that allows him to track each diamond's origin. 

One of GLD's first celebrity clients and supporters was Pittsburgh native Wiz Khalifa, who Johnson met through his manager back when Khalifa was just starting out in the rap game, he said. The company has since been able to expand its brand to heavy-hitter clients such as Justin Bieber and Cardi B. 

Johnston credits GLD's Instagram presence for its brand growth, saying that GLD stayed consistent in posting content that showcased the brand and its products. The aesthetic of the brand is streetwear, glitz, and new money glamour, so its Instagram has photos that show rapper Rick Ross decked out in GLD diamond chains and a GLD watch wrapped around a bottle of Veuve Clicquot champagne. 

GLD currently has just over 1 million followers on Instagram, and many clients, like Bieber, make requests through the social platform's direct messaging service.

Outside of social media, GLD has also fielded custom requests from country duo Florida Georgia Line and the Kardashians.  Sometimes when big-name clients come to GLD, Johnston said, they request jewelry pieces on a tight deadline, sometimes two weeks or less. 

When that happens, he said, "We literally have to work day and night to get the sketches down and get the 3D cast done. And then hurry up and get it printed and then get it cast and then hurry up and get the diamond set." 

Those are extreme circumstances, however. Johnston said it typically takes them about a month to create each piece. One of the company's most memorable requests came from rapper Trippie Redd, who asked for a diamond choker necklace that fit perfectly around his neck. The choker is valued at around $100,000. 

"It was a skull that was bending backwards and the eyes lit up," Johnston continued. "There was an on-and-off switch and the eyes had neon lights in them. [Redd] wears jewelry everywhere, so we had to make it waterproof."

'You ice something out completely, you do risk potentially losing some value' 

Though GLD is known for making iced-out jewelry, Johnston acknowledged the risk of icing out a product too much.

Business Insider has previously reported on how watches such as Rolex, Philippe Patek Audemars Piguet, Richard Milles are typically seen as an investable asset class that retains its value over time. These watches are often made in styles that are seen to be classic and timeless.  

But there's no telling how much an iced-out Richard Mille will go for in 20 years.

"In general, you ice something out completely, you do risk potentially losing some value," Johnston says, adding that the investment value of a watch is tied to what's trending among consumers. 

"If you do it right, it will keep the value," Johnston continued. "You have to make sure you're putting the right diamonds on to keep with the value of the watch and have the diamond paperwork to back it all up." 

Right now, the demand for iced-out diamonds has propelled GLD to popularity. Three years ago, the company relocated from Pittsburgh to Miami, and amid the pandemic, the company moved to an even larger space, doubling its team to 55 employees.

"We were really back-and-forth between Miami and LA," he says. "[In] Miami, we felt like there's more of an opportunity down here to create something new. LA has a lot more history with streetwear, but in Miami, there's more of an opportunity for us to really make a name for ourselves and take over." 

Johnston said the coronavirus pandemic hasn't financially affected the company and credits its strong brand identity and loyal customer base with putting it on pace to reach $50 million in sales this year.

"There were definitely challenges that came from it on the back end," Johnston said. "Just in terms of keeping people safe, and my operations and things like that. But in terms of sales, we've had a great year. We didn't have to lay off any people." 

During this time, the company has been focusing on its partnerships. In 2019, GLD entered into a partnership with both the National Basketball Association and Disney's Marvel, the latter of which has yet to be released. This year, GLD formalized its partnership with the NFL and released its collaboration with the MLB. 

It's a testament to taking one's time, Johnston said. It took him five years to exceed 1 million followers on Instagram, he said — a piece of cake compared to what it took to formalize its partnership with the NBA. 

"There's a lot of things you gotta do to become eligible to work with the NBA," he says. "They're very specific with who they work with."

He said there was not only a lot of paperwork, but associates from the NBA came to GLD to inspect its factories and its full behind-the-scenes process of how makes jewelry. 

"Luckily we, from the beginning, always made it a point to do things the right way," he said. "I think that's made it a lot easier." 

SEE ALSO: How a 28-year-old sold his first jewelry design for $25,000 and within 3 years built an exclusive client roster including Rihanna

DON'T MISS: A millennial entrepreneur who runs a high-end watch retailer explains why now is the time to invest in watches — and which timepieces are the most valuable

Join the conversation about this story »

NOW WATCH: July 15 is Tax Day — here's what it's like to do your own taxes for the very first time

Luxury is a pretty hard sector to tap into — and even years of notoriety doesn't necessarily mean years of financial stability or economic success. The coronavirus pandemic only heightened many of those issues, as brands and retailers throughout the world have been forced to close or declare bankruptcy. 

Even before the pandemic, however, there were calls for a changing of the guard in the luxury sector. People want more sustainability, leaders who are more tech-savvy, faces that are more diverse, and clothes that come with a meaning and a purpose.

Rather than wait around for those currently in charge to change, a new crop of luxury has popped up, creating the businesses they want to see taking over the sector. These are names and the faces that will come to define and helm the next generation of luxury spending. 

Business Insider has been speaking to the new rising faces in luxury about the future of their respective spaces, touching on topics such as the investment value in high-priced watches, and where they hope to see the world after the pandemic subsides. The interviews are being compiled here: 

A millennial entrepreneur who runs a high-end watch retailer explains why now is the time to invest in watches — and which timepieces are the most valuable

Avi Hiaeve, owner of the high-end watch retailer Avi & Co., met with Business Insider earlier this year to talk about his watch business as well as give tips for those looking to start investing in luxury watches. "The celebrities and the artists and all of them, they're not wearing watches under $100,000 anymore, everything they want is over $100,000. It's really gone through the roof," he explained to us. 

How a 28-year-old sold his first jewelry design for $25,000 and within 3 years built an exclusive client roster including Rihanna

Calling in from Paris, Emmanuel Tarpin spoke about his rise in the jewelry industry, how he nabbed two of the industry's top honors, and got Rihanna to fall in love with his work.

How a 22-year-old heiress launched a handbag line and within 3 years landed the Netherlands' Queen Maxima as a fan

At just 22, Marina Raphael has already built a luxury handbag business that counts the Queen of the Netherlands as a fan. In an interview with Business Insider, she spoke about learning Italian, teaching herself design, and her plans to build the next-big-thing in luxury — as well as being a sixth-generation member of the Swarovski crystal dynasty.

A millennial car customizer who counts Lebron James and Kendall Jenner among his clients explains why he's expanding his business with a luxury shoe line

Vik Tchalikian is best known as the car customizer for the stars and boasts a client list that includes Kendall Jenner, LeBron James, and Billie Eilish. In an interview with Business Insider, he talks about how he used his car knowledge to start up a luxury shoe line. 

Meet the Black millennial art curator who worked on a Zendaya photoshoot, had her portrait featured in Beyoncé's 'Black Is King,' and was just tapped by auction house Christie's to curate an exhibit

The art industry is notoriously white. Enter, Destinee Ross-Sutton, the 24-year-old art curator who already counts a Zendaya photoshoot and a Christie's exhibit under her name. A shining moment for her this year was when she discovered that a painting of her was featured in Beyoncé's "Black IS King." In speaking with Business Insider, Ross-Sutton talks about her mission to increase diversity and inclusion in the art world.

The 28-year-old heir to a luxury publishing house explains how he creates some of the most exclusive — and expensive — private libraries in the world

Alex Assouline is a creative library designer who helps create some of the most exclusive — and expensive — libraries in the world. The heir to his family's publishing house, Assouline also helps make stunning coffee books on subjects ranging from feminism to the palace of Versailles. In an interview with Business Insider, he talks about the art of library designing and which books he is helping to make next. 

Meet the 'VIPER Girls,' the female nightlife entrepreneurs who couldn't get a credit card 4 years ago and now field requests to work the Super Bowl

Kelsi Kitchener, 28, and Celeste Duvre, 24, are the cofounders of the guest experience company VIPER, which works with some of the biggest celebrities and brands in the world. Known as the Viper Girls, they manage all points of the overall guest experiences at events. In an interview with Business Insider, Kitchener and Duvre talk about the founding of their company, and being young women in an industry that's long been touted as a "boys club." 

A 28-year-old fashion brand director explains how ruthless attention to detail has landed Rihanna, Kim Kardashian, and Jennifer Lopez as clients

In an exclusive interview with Business Insider, Kyle Bryan, brand director at the luxury label LaQuan Smith, breaks down his plans on helping create the next big American fashion house. "A lot of women and celebrities will directly reach out to LaQuan and say, 'I would love for you to make me something,'" he said. "That's how some of our best stuff has even happened."

How one millennial CEO built a luxury eyewear brand that's been spotted on everyone from Jeff Bezos to Brad Pitt

Garrett Leight is the founder, CEO, and creative director of Garrett Leight California Optical. His father, Larry, was the founder of the sunglass brand Oliver Peoples. In an interview with Business Insider, Garrett talks about opening his own eyewear brand and keeping his family legacy alive. 

Pauline Ducruet isn't so different from other 26-year-old entrepreneurs — she just happens to be Grace Kelly's granddaughter

Pauline Ducruet is the founder of the gender-neutral fashion line, Alter Designs. She also happens to be a granddaughter of Grace Kelly through her mother, Princess Stephanie of Monaco. In an interview with Business Insider, she talks about the importance of sustainability in fashion, and how the pandemic almost wiped out her business. 

How a jewelry designer went in just 3 years from launching her startup from her dorm room with $25k to partnering with Michelle Obama's When We All Vote 

Shilpa Yarlagadda, 24, is the cofounder of Shiffon, the fine jewelry brand that invests its proceeds back into female-funded businesses. For the upcoming election, the brand has partnered with Michelle Obama's When We All Vote foundation for limited-edition hoop earrings to represent the hoops women have to go through for basic rights. In an interview with Business Insider, she talks her career journey, the importance of mentorship, and her partnership with Obama. 

Meet the millennial cofounders of Apparis, the cult-favorite vegan coat brand that raised $3 million in funding this year and just launched a collaboration with Juicy Couture

Amelie Brick, 37, and Lauren Nouchi, 29, are the cofounders of Apparis, an apparel company best known for its vegan coats. In an interview with Business Insider, they talk about why they decided to start a high-end vegan coat line, how the pandemic led them to expand into homewear, and why they decided to launch a collaboration with Juicy Couture. 

Meet the millennial cofounder of a jewelry brand that has partnered with the NFL and NBA and is on track to make $50 million in revenue this year

Christian Johnston is the cofounder of the jewelry brand GLD, beloved by the likes of Justin Bieber and rapper Wiz Khalifa. The company has also done partnerships with the NFL, NBA, MLB, and Disney's Marvel. In an interview with Business Insider, Johnston talks about growing his jewelry company, which is now on track to make $50 million in revenue this year. 

SEE ALSO: Meet the 27 fashion power players winning over Gen Z and Millennial customers with more ethical and sustainable practices

DON'T MISS: The most luxurious accessory of the 21st century is the handwritten note

Join the conversation about this story »

NOW WATCH: We took a 1964 Louisiana literacy test and failed spectacularly

Luxury items became even more expensive last month as the price of goods in the US saw its highest monthly increase in nearly 9 years, according to the US Bureau and Labor Statistics' Consumer Price Index.

Jewelry and watches were among several items that pushed the overall surge in prices. The cost of jewelry in the US rose 7.4% from the previous year and nearly 6% between February and March, according to the index.

Similarly, the price of watches also rose 4.3% from 2020 and 2.4% in the past month alone. 

While the price increase might not seem particularly high on a surface level, they could put a further strain on the wallets of people buying big-ticket items.

If applied to the average price of a Rolex in 2020 — which falls around $12,000, according to Wrist Advisor— rising prices mean buyers can add about $500 to the price tag.

And that's just for the average buyer. Customers looking to purchase even more pricey watches, like Rolex's $75,000 model, would have to tack on an additional $3,000 to that price tag.

Similarly, for couples looking to buy a diamond engagement ring — an item with an average price around $5,000, according to Jewelry Wise— buyers can expect to pay an additional $370 this year, or even see a price increase of $285 from the previous month.

Prices in the US are only expected to continue to rise in the coming months, as increased vaccination rates allow the economy to reopen and demand to surge.

The cost of goods has also been impacted by several supply disruptions, including a shipping container shortage, port delays in California, and the impact of the Texas freeze on production in the state. Many companies are also still struggling to meet demand after cutting back on production due to COVID-19 shutdowns last year.

Outside of watch and jewelry prices, the Consumer Price Index showed several other goods had significant price increases, in particular fuel and food. Gas prices jumped over 9% in the past month and drove the largest increase in the index.

Overall, prices rose over last year at their highest rate since 2018, beating analysts estimates. The index rose 0.6%, while analysts estimated a 0.5% increase, according to Dow Jones estimates.

Join the conversation about this story »

NOW WATCH: Why kolinsky sable paintbrushes are so expensive

Switzerland-born Maximilian Büsser, 54, founded watch company MB&F in 2005 after working for 15 years at Jaeger-LeCoultre and Harry Winston Timepieces. 

He wanted to create watches that embodied his love of the art and craftsmanship in watchmaking. MB&F, which stands for "Maximilian Büsser and Friends," is known for producing futuristic-looking luxury watches. 

Büsser financed the brand with $900,000 of his own money. 

"MB&F was a life decision, not a business decision," Büsser told Insider. "After my dad passed away, I realized that the last day of your life you look back and are either proud of what you've done or you have regrets. After I realized that, I completely changed my life."

"To me, watches embody everything which is beautiful in human beings," he added. "The industry grew and became very powerful, but before you know it, it lost its soul to money."

From 2013 to 2020, the company, which employs 31 people and is headquartered in Geneva, reported $15 million a year in sales, but predicts it will reach $22 million in 2021.

"Many watch collectors could not travel and compensated by acquiring pieces with the money they saved," he said of the increase in purchases.

It produces up to 215 watches per year, Büsser said, and each watch takes 12 to 18 months to create and features 250 to 600 components. MB&F produces many of their complications in house, a rarity in the watch world.

Timepieces modeled after futuristic characters

Büsser has two categories of watches: Legacy Machines and Horological Machines, the latter of which are very whimsical and arguably what catapulted the brand to cult-like status.

"When I was a kid, I pretended I was Captain Kirk, Luke Skywalker, a World War II fighter pilot in a P-51 Mustang, and a Formula 1 driver," Büsser said. "Unwittingly, I created my first MB&F pilots around that. I never set out to create a watch which looks like a plane, but after designing and evolving the initial sketch, it looks more or less like a spaceship." 

Büsser calls his collectors The Tribe. They live around the world in Taipei, New York, Dubai, or Paris and include both older and younger men and women.

"Our clients' stories are often my story, and the other way around," he said. "It is so enriching for all of us to meet, and many of them have become great friends."

While the core range of cost per watch sits between $90,000 and $170,000, some can retail for up to $400,000. 

"We have always created less pieces than the market wanted," he said. "Suddenly, in 2020, the demand accelerated, and because our production barely managed to attain the same numbers as 2019 due to COVID-19, the gap between demand and production widened a lot."

"We got thousands of messages from watch aficionados during the last 16 months saying that they loved following us because not only did we continue to amaze them, but we also put a smile on their faces," he added.

The most expensive watch he's ever sold was the HM6 Alien Nation. Only four were made, and each retailed for $500,000. All four pieces were sold to the same collector.

"When I started the company 16 years ago, I was terrified nobody would buy my pieces," he said. "Now, 16 years, the only thing which actually scares me is to disappoint our followers who own our pieces. Dozens and dozens of MB&F collectors have more than 10, 15, or 20 pieces, which is insane for a brand as young as ours."

The daily routine of a luxury watch brand founder

Büsser lives in Dubai with his wife, Tiffany, and their two young daughters. Büsser's often in Switzerland from Monday to Friday and will leave for Dubai Friday at 3 p.m. to get home around midnight. 

On a typical work day in Dubai, Büsser wakes up at 6:30 a.m. After preparing his daughters for school, he'll work from his home office, answering emails and hopping on Zoom meetings.

Every two to three days, he said he spends 60 minutes alone in his garden, or an undisturbed spot — without his cell phone — to find inspiration, something he's been doing for the last seven years.

"I can't create reading a book, looking at a movie, or talking to somebody," he said. During the hour, he tries to focus on creating new products by visualizing them in his head.

His work day stops when his eldest comes home at 4:30 p.m. During the four dedicated family hours after that, he eats dinner, plays with his children, and puts them to bed.

When in Geneva, Büsser wakes up at 5 a.m. to prepare for a day of meetings and inspecting newest pieces.

"There's one thing we can't do from afar, and that is touching and experiencing the beautiful finished design, how it fits, how it looks, or how the light reacts with it," he said. "In Geneva, we're in the workshops with the prototypes and working with the suppliers and the machines to figure out what's possible."

Join the conversation about this story »

NOW WATCH: Why some Coca-Cola bottles have a yellow cap

Semiconductor chips, used cars, Rolex watches: One of these things is not like the other.

Yes, people are having a hard time getting their hands on them; and yes, all are more expensive now than they were last year; but unlike the first two, the scarcity of Rolex is strategic.

While there may have briefly been a supply chain disruption for watchmakers at the peak of the coronavirus pandemic, Adam Golden of Menta Watches told Insider the issues in the past year are a mere blip compared with larger trends happening in the luxury watch market generally and with Rolex in particular.

"Rolex seems to have structured their business in such a way that they're controlling distribution and who gets what, at a retail level," he said. A decade ago most models were available on-demand from authorized dealers (ADs) of the brand, he explained. 

Read more: A luxury watch designer who sells timepieces that cost $500,000 reveals how he got his start and his daily routine

On a recent trip to a shop in Florida, Golden said there was just one Rolex available to buy — a ladies' Datejust that a customer had ordered and canceled.

In Houston, real estate investor Tyron McDaniel tweeted that he was unable to find a men's Rolex and that many stores wouldn't get new ones for another year and a half.

But Golden says watches are still flowing to the brand's preferred ADs, and that the backlog is more illusion than reality. Rolex is generally believed to produce as many as a million watches per year.

"Rolex would like to perpetuate the image that there's a shortage and that there's such high demand that they can't produce enough to satisfy the demand, but I think in reality it's just very controlled release in order to keep that demand super high," he said.

Rolex did not respond to Insider's request for comment on this story. 

Another result of this artificially constrained supply of new watches is the absolute explosion of prices on the resale market where some timepieces now command far higher prices used than they do at the retail counter.

For example, a steel Daytona is advertised on the Rolex website for $13,150, but over at Chrono24 the exact same watch is listed for more than $36,000. What other asset appreciates so instantly after purchase?

Rolex is by no means alone here, but it is a leading brand in the pre-owned watch market, which is expected to reach $29 to $32 billion in sales by 2025, according to a recent report from McKinsey.

"Rolex could probably do a number of things to fix the current situation and increase the supplies of these watches and dampen the secondary market," Golden said. "But I think at this point they're choosing not to, because it's good business for them."

Over on Twitter, one commenter recommended McDaniel take a look at the exquisitely hand-crafted mechanical timepieces made by German watchmaker Nomos Glashütte, whose most expensive model comes in at $21,500.

"Nice watch," McDaniel replied, "but it's not a Rolex."

Join the conversation about this story »

NOW WATCH: Why kolinsky sable paintbrushes are so expensive