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LUXURY WATCH MARKET CRASH – Just a Blip? Huge Crash & Collapse Impending?
Times have been so good recently for luxury watchmakers that they are running behind demand, forcing some to delay the release of new collections and others to invest more in production capacity.
Watches were the best performing segment for French luxury group Hermès last year, with sales soaring by 73 per cent brand’s coveted Hermes Birkin bags continue to do well too. Hermès vice-president Guillaume de Seynes said at Watches and Wonders in Geneva, which took place from March 30 to April 5, one of the industry’s biggest annual showcases. The mania insanity — applies to both new and vintage timepieces, and it is especially pronounced for a handful of models manufactured by Rolex, Audemars Piguet and Patek Philippe. Many point to October 2017, when Phillips auctioned Paul Newman’s Rolex Daytona for $17.8 million (buyer’s premium included), as the start of the frenzy. But nothing compares with what’s happened to the category over the past two years. current market value of the Tiffany Blue dial version of Patek’s highly coveted Ref. 5711 Nautilus, introduced in December for a retail price of $52,635. ad several dealers, the steel model is now rumored to be worth $3 million on secondary channels — to say nothing of the $6.2 million a buyer paid for a special edition auctioned for charity at Phillips New York in December.
Some brands and models get more love than others, though. Audemars Piguet, Patek Philippe, Rolex… It’s brands like these that have captured peoples’ imaginations – and wallets. In-demand stainless steel luxury sports watches like the Royal Oak, Nautilus and Daytona respectively have become some of the hardest watches to acquire on the planet.
Prices on the aftermarket for these models have long reflected that, too. We’re talking 200%, sometimes even 300% markups in some instances, with prices having steadily climbed over the last 3 years. Until now, at least. Italian watch expert @watchanalytics has observed that recent market moves suggest we’ve hit the peak of watch speculation for these popular models – and now things are going to swing the other way. tpg grand caliber
“In the last month, the [upwards price] trend of the most sought after watches on the market has reversed its direction for the first time,” they say, explaining that we’re currently witnessing a substantial market correction. They point to the Audemars Piguet Royal Oak and the Patek Philippe Nautilus specifically, sharing that on average prices for these two models have fallen by 7.3% since the beginning of March. It’s one hell of a correction, considering how ascendant prices for these two ‘Holy Trinity’ sports watches have been in recent memory.
A handful of independent brands — including Moser, De Bethune, MB&F, Urwerk, Laurent Ferrier and Voutilainen — are benefiting from the phenomenon Mr. Meylan described, a trend that has been well documented. thin, 35-millimeter styles from the 1960s and ’70s by brands such as Audemars Piguet, Piaget, Patek Philippe and Vacheron Constantin. Girard-Perregaux direction Rolex prices are moving in to see that what’s happening with APs and Pateks might not be indicative of the market as a whole. Prices for popular Rollies like the Submariner, Daytona and GMT-Master II haven’t weakened one bit.
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prices sharp price increases, perhaps in part to the hype surrounding Rolex’s unveiling of a new GMT-Master II at Watches & Wonders 2022. The Patek Philippe Nautilus is highly sought-after, and as it turns out, so too is its original prototype design, hand-painted by one of the world’s most famous watch designers. Watch Drama Watch Talk Watch Box Watch Unboxing Watches TV SteveWillDoIt Rolex Richard Mille Omega Patek Philippe Hublot IWC AP Audemars Piguet Watchfinder Jenni Elle wolves of watch street jaeger lecoultre vacheron hype vintage truth exposed unboxing review first look watch movement
During Sotheby’s second iteration of the “Gérald Genta: Icon of Time” auction series, the original design drawing from Genta circa 1976 sold for $727,000 to a private Asian buyer. #rolex #patek #watches
