Luxury Time Piece Performance Over Time
To understand, generally, luxury time piece (watches) value performance over time.
Additionally, to understand 4 specific watches and their value over time. This would specifically include 2008. Luxury timepieces would be defined as watches with values of over $100K.
- The reasons some watches are valuable these days rarely have anything to do with accuracy. While precision craftsmanship does make for a more accurate mechanical watch, the most expensive watch brands in the world (think Rolex and Patek Philippe) can demand a high ticket price because of their style, technical sophistication, and, of course, reputation.
- If you’re concerned about having a watch that will retain its value, you need to think of luxury when you purchase.
- Rolex is repeatedly listed as one of, if not, the brand that holds its value the best.
- Patek Philippe produces two of the most expensive watches in the world. This Swiss company has been in the game since 1851 and now, in addition to their reputation for luxury watches, is also known for making some of the most intricately designed timepieces in the world.
- A Rolex can vary in price from $10,000 to over $60,000. 'It is considered the best choice for new investors because the brand is so widely recognized. Don’t purchase one and expect your watch to go up in value quickly. You’ll need to hold onto the watch for at least ten years before it will go up in value.'
- After Brexit, Harrods noted a direct increase in sales of watches worth over £200,000. Soon after, prices were adjusted to reflect the currency fluctuation.
- According to Emily Stoll, director of North American sales at Swiss watchmaker Carl F. Bucherer, the luxury watch industry has to "embrace and react to the trends in social media in order to successfully engage this generation". After years of resistance, luxury brand Rolex took the plunge and joined social media in 2013. They posted their first photo on Instagram in 2015 and have since gained 8.7 million followers. This is the perfect example of a brand, steeped in heritage and history, adapting its marketing methods to suit modern audiences.
- The global luxury watch market size was valued at USD 6.9 billion in 2018.
- Revenue in the Luxury Watches segment amounts to US$5,657m in 2019. The market is expected to grow annually by -3% (CAGR 2019-2023).
- An Audemars Piguet Royal Oak Tourbillon went up for auction on March 8th, 2019. The estimated value of the watch heading into the sale was $112,000. The caseback is engraved "UNIQUE PIECE".
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