LIFESTYLE | WATCHES
not everyone will have the ‘ gut instinct ’ when it comes to a timepiece , there are some simple guidelines that can steer potential buyers , and collectors , in the right direction .
“ At Christie ’ s , we advise our clients to buy what they like or desire and to buy the best object on the market available for their budget ,” says Bigler . “ On the latter point . Christie ’ s specialists are there to help and give their advice on a global market perspective .”
Interestingly , BCG ’ s report also highlights Gen Z and younger millennial buyers who say they intend to spend more on luxury watches . In BCG ’ s survey , 54 % of those buyers said that they had increased their spending on luxury watches during the previous 24 months , citing increased ease of buying and selling and more investment opportunities as their top reasons . Half said they expect to spend more on luxury watches in the next 24 months despite economic uncertainties .
That is certainly happening in Asia , with Christie ’ s seeing an increase in millennial collectors and those in their 20s seeking rare vintage watches – an encouraging sign of the watch market continuing to evolve in the region .
“ Asian watch buyers who participated in Christie ’ s global Watches auctions in 1H 2023 , are getting younger ,” says Bigler .
“ Among all Asian watch buyers in this segment , more than a third are Millennials ( born between 1981 and 1996 ), versus only 27 % in the same period in 2019 . When it
comes to new watch buyers , more than half are Millennials .”
With such high demand , you could think that these prized watches should be selling for higher prices directly from the manufacturers . Certainly a few years ago , the secondary market was largely shunned by some of the more luxurious brands , but that has changed .
In 2018 , Swiss luxury goods company Richemont purchased Watchfinder
138 December 2023