LIFESTYLE | WATCHES
According to Pierre Dupreelle , BCG ’ s Global Leader for Consumer Behaviour , investor attention has concentrated on a handful of models – Patek Philippe Nautilus , Audemars Piguet Royal Oak , and Rolex Daytona and GMT-Master II – following strong growth in online consumer conversations .
“ On the second-hand market , these models typically fetch up to 200 % of firsthand market prices ,” Dupreelle points out . “ Individual Rolex Cosmography Daytona watches , with a retail price of US $ 14,800 , were selling recently on pre-owned watch exchanges for US $ 24,250 to US $ 38,500 .”
“ Several independent brands and models , especially those seen as high value , unique , or hard to find , are performing strongly , too , including F . P . Journe , De Bethune , and H . Moser & Cie .”
Watches have a recognised history of performing well compared to stocks , and have also shown greater resilience than many financial and consumer product categories . No wonder , then , that pre-owned sales reached US $ 22 billion in 2021 , accounting for almost 30 % of total sales in the luxury watch market . A big part in that shift is pure demand outstripping supply , and the increasing demand for instant gratification . This is something that Rustin Yasavolian , CEO of Masina Diamonds has experienced first-hand .
“ Luxury watches have exploded in value since 2020 ,” he tells Business Chief . “ It is almost impossible to get a luxury sports watch like Rolex , Audemars Piguet , and Patek Philippe without an extensive purchase history .
“ If you ’ re looking to get a sports model , these authorised dealers say they will put you on a ‘ list ’ and keep you updated when the watch model comes in hand . The problem with this is that there are a lot of people
ROLEX CERTIFIED PRE-OWNED
Worried about buying an authentic timepiece in the second hand market ? Most reputable online marketplaces will offer guarantees of authenticity , or you could go straight to the source . Rolex is one manufacturer that offers a Certified Pre-Owned programme which vouches for the authenticity of second-hand watches when sold by an Official Retailer . Not only that , but the watches are checked to ensure perfect functioning , and there is a two-year international guarantee .