Gold, a safe-haven asset by nature, exceeded $2,000 per ounce in August 2020. After the stupefaction of the first few weeks, the fear of an economic collapse pushed some defensive stocks to new heights. We can speculate about this frenzy, but fear was undoubtedly a powerful driver. This upward movement started as early as August 2020, that is to say, well before galloping inflation took root. The Covid crisis marked the beginning of the price boom. How will the luxury watch market evolve in the medium term? Marché du seconde main de luxe : statistiques et analyse The century-old Swiss companies are seeing their strategies overturned by social networks, where unboxing videos and, since 2020, successful series on grey market merchants abound. On the other hand, a rejuvenation of sales methods and watch marketing. On the one hand, a resurrection of the clientele with crypto-millionaires barely out of their teens but eager to show off their fortune. A rejuvenation, in every sense of the word, is underway. ![]() It is a fact today that the clientele of these watch manufacturers is changing. LVMH also participated in Hodinkee’s Series B financing round in 2020 ($40m raised). In 2018, Richemont (Cartier, IWC, Girard Perregaux, Ulysse Nardin, …) bought the Watchfinder website, probably also sensing the shift in the market. A great way to control who these exceptional pieces were sold to and thus expand the customer portfolio. Used watches were repurchased, serviced, and then resold. As early as 2016, he launched his heritage service. Journe, whom we mentioned above, had been a pioneer in the field. The “grey market” was not worthy of their attention, nor were the customers buying from it.į.P. They had previously neglected it, even snubbed it. What is clear is that the second-hand market has become vital for luxury watch brands. The second-hand market has become vital for the watch brands Journe watches were available on The Watchbox website at the time of writing, which is the most extensive inventory on the planet. Rumor has it that The Watchbox deliberately drove up the price of watches by buying everything on the market and pushing the brand on social networks. The price of certain pieces has increased tenfold, a spectacular surge that raises questions among specialists. This is the case of François-Paul Journe, whose eponymous factory (F.P. Journe case: market manipulation?Īlongside the best-known companies, independent watchmakers have also seen their value soar. This inflection of average prices is particularly visible for Patek Philippe and Audemars Piguet, whose ratings had increased reasonably linearly (or even decreased) between 20. We note an inflection towards December 2020 for the 3 brands studied. To reflect the true growth potential of each brand, we have excluded the most speculative models, which we will discuss in the following paragraphs. The curves for each brand are the average growth rate calculated on 89 models: These dizzying growths are represented on the graph below. If we exclude some speculative models, Rolex has risen 147% in 10 years, Audemars Piguet 119%, and Patek Philippe 126%. The first lesson of this research is that the prices of some luxury watch brands are only going up. ![]() Patek Philippe, Rolex, and Audemars Piguet prices continue to rise If you want to know more about Patek Philippe, the pinnacle of luxury watches, watch the short video below. The results, never before seen, show a much more contrasted reality. To find out for sure, we analyzed the selling prices of 141 watch models. Has the market gone crazy? Some of the current Patek Philippe models are in such demand that they are more expensive on the secondary market (the “grey market,” as it is called) than at authorized dealers.Įveryone has been saying for months that this is a speculative bubble. Rolex is not taking any more orders, Patek Philippe has no watches in stock, and some models’ waiting list exceeds 10 years. ![]() Who would have thought two years ago that the market would go crazy and that luxury watchmakers would have to refuse customers? Because that’s the situation. ![]() The price explosion is breathtaking: +383% for Audemars Piguet, +202% for Rolex, and +153% for Patek Philippe in 10 years. How will the luxury watch market evolve in the medium term?.The second-hand market has become vital for watch brands.Patek Philippe, Rolex, Audemars Piguet: which watch models are the most speculative?.Patek Philippe, Rolex, and Audemars Piguet prices keep rising.
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