For a lot of watch collectors, it’s the journey that counts: finding the perfect watch, tracking a grail piece, sitting on a waitlist, and in the meantime discussing the whole process with a fun community of like-minded watch lovers. What is less discussed, and far less fun, is the cost of ownership once a watch is acquired. A valuable watch requires specialized insurance, regular servicing and maintenance, repairs, and secure storage and travel considerations, not to mention keeping up with market conditions that affect its value.

Getting the proper insurance should be a basic consideration, and that includes getting regular updated appraisals, because value can fluctuate – retail prices, gold prices and shifts in desirability all add up to potential deviations in value. Rising gold prices alone have pushed up the underlying value of many timepieces in just the past year, leaving some collections underinsured. “The biggest gap in traditional insurance coverage is almost always between what you........

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