If you want to start your first luxury watch or jewelry collection but are unsure where to begin, then look no further. The idea of investing in luxury goods doesn’t have to be daunting. Everyone has different desires and means of achieving them, but if you are starting your first collection, consider these tips and adjust according to your lifestyle.

1. Start Small

If you are just beginning your jewelry or watch collection, there is no need to invest in the priciest and most over-the-top items you can think of. Though the insanely expensive and insanely luxurious might be your end goal, you should initially aim to build a functional and practical collection. Then, when the time is right, you can invest in an indulgent desire. Figure out what you are comfortable with buying and start there.

2. Buy within your means

When investing in jewelry and watches, the payout doesn’t happen immediately. It takes time — years or even decades — for the piece to gain value. Keep in mind that you won’t make money for a while when you invest in a product. That’s why it’s important to always buy within your means. If you are just starting your collection and aren’t comfortable with the price of an item, then opt for something you are comfortable with. A standard Rolex Submariner is a less intimidating starting point than a Audemars Piguet Royal Oak. As you build your collection, you might even be able to resell a watch for more than you originally paid, then put that towards the watch of your dreams.

3. Add essential and wearable pieces

Jewelry and watches are different investments than most. They are real, tangible and beautiful. If you take the proper precautions and care for your item, then these are investments you can wear and enjoy during your daily life. There’s no reason your collection can’t be wearable and useful. When you wear your items regularly, you will also pay more attention to them– you will see any wear or tear and notice if something is damaged or corroding. Noticing something amiss may make you more proactive in caring for your items.

4. Choose classic brands and models that retain value

When building a collection, research should be your number one priority. Research the brands and models that retain value and have a proven record of doing so. Brands like Cartier, Van Cleef & Arpels, Rolex and Patek Philippe hold their value over time and even increase in price dramatically. You also need to look at the models that retain value best like Cartier Love bracelets, VCA Alhambra jewelry, Rolex Submariners and Patek Philippe Calatravas.

5. Know what to expect

It’s important to have a clear understanding of what you can expect from each piece in your collection. Just because you personally love an item or spent a fortune on it, doesn’t mean that others will find it valuable in the future. A classic designer and simple/timeless design are always safe bets when the item is well-maintained. A golden necklace adorned with precious gemstones will retain value due to the materials alone. On the other hand, an avant garde piece is more of a gamble. You can’t predict the future market, but you can research each purchase thoroughly before purchasing.