Time is money
James Hawkins explains how the right watch can be a great investment
Ihave previously explained how the pre-owned watch market has been rejuvenated due to the demand for quality time pieces. Supply and demand will always make for a marketing coup but the global experts for the world’s most prestigious watch manufacturers predict a rise in the pre-owned market between 8% and 12% in the next financial year.
To put this into context that out-strips most investments on the commodity market. The recent surge in prices has attracted collectors and investors alike and the price bubble does not appear to be bursting any time soon.
Clever marketing and limited editions have led to a two-year waiting list on some prestigious models. Investors are simply putting certain watches directly into the safe, collectors are clinging onto their timepieces and a vacuum has occurred. We have even seen a brand new £7,000 watch sell the very next day, advertised as a pre-owned model, for £13,000.
Royalty, globally-recognised sports stars, celebrities and icons from stage and screen have all endorsed famous brand watches, adding a touch of desirability and glamour to owning a prestigious time piece. For years the rich and famous have indulged us with watch marketing making it desirable to wear a famous brand; Humphrey Bogart, Lauren Becall, Princess Grace of Monaco, Elvis and Sterling Moss have all advocated certain brands.
Modern day superstar Usain Bolt is the face for Hublot and was even the guest of honour for its launch of its new manufacturing facility overlooking Lake Geneva. Kate Winslet represents Longines, Ryan Reynolds wears a Piaget, Roger Federer is often seen putting on his Rolex watch immediately after a victory and many celebrities like to be pictured wearing one.
Patek Philippe has always had a special status with collectors and investors alike. The Stern family have stated “You don’t own a Patek, you are merely the custodian for the next generation.”
The unveiling of its Calatrava, Aquanaut and Nautilus ranges from 1976 to the present chronographs have meant this monumental presence in the horology world goes on breaking world records set for pre-owned time pieces. At auction in 2016 the chronograph dated 1943 with reference number 1518 incorporating the moon phases and perpetual calendar fetched $11 million.
The top investment brands at present are Rolex which will always be the preferred go-to brand, but spare a thought for exquisite time pieces from Hublot, Cartier, Patek Philippe, Omega, Breitling and Piaget. Juels’ Limited can help and inform you on the current watch market, assist with any purchase inquiries and is always interested in increasing its extensive pre-owned stock. If you are looking to upgrade, exchange or sell your quality watch please call James at Juels’ Limited.