I’m sure it’s a good article but it’s just “choose your subscription” for me.
Hi All,
This FT.com article on the watch market is pretty interesting, especially on Rolex values and China. I've linked below ->
https://on.ft.com/3HvWg5n
(Edited with updated link. Hopefully this one works better. )
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Last edited by Bonny Marco; 25th January 2023 at 19:05.
I’m sure it’s a good article but it’s just “choose your subscription” for me.
Gist of the article is about resale prices on 49 brands. tRolex was the worst performer, with the average listing price down 15 per cent. Tudor, Rolex’s junior brand, is the second biggest loser with a fall of 11.5 per cent.
watch prices are falling faster than luxury spending in general.
partly China, where high-end pawn shops did brisk business last year as Covid lockdowns forced HNWIs to raise cash.
Some of the price distortion arose from crypto enthusiasts moving their wealth to other assets.
There’s also a bit of distortion stemming from Rolex’s launch in December of an official resale channel. (Rolex official certification is worth a 39 per cent premium, WatchCharts finds.)
Here’s the pdf
https://www.dropbox.com/s/qdiqriwx8c...Times.pdf?dl=0
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Yes blah blah all backward looking stuff, China has since reopened look at Hang Seng index YTD. Anyway, FT is always invariably wrong.
The sooner we get back to wearing and enjoying watches vs financial speculation the better, I blame Covid and nothing better to do.
You can't blame anyone who bought a Rolex in the last few years as a bit of an investment but in return they can't expect any sympathy when prices dip.
If you have to squawk when an investment dips, you are a dipstick.
So used Rolex prices have dropped in the secondary market, while exports of expensive watches to China have actually increased, but overall figures are down.
I don’t think that’s going to affect the Rolex, Omega, Patek, AP etc market just that badly by the sounds of it.
It's just a matter of time...
How awful that Rolex AD’s may have to moderate their greedy arrogant restrictive practices and stop looking down their noses at prospective purchasers! My heart is brimful of sympathy for them, NOT!!!