Prices for Rolex, Patek Philippe and Audemars Piguet watches increased by 20 per cent a year since 2018, outpacing 8 per cent annual returns in benchmark US stocks.
Prices for a basket of so-called independent brand watches including FP Journe, H. MoserCie and De Bethune – a small Swiss producer which is majority owned by WatchBox – returned 15 per cent over the same period. The report touts luxury watches as an alternative asset class to stocks, bonds, art and wine.P 500 had a compound annual growth rate of 12 per cent between 2012 and 2022, while Rolex, Patek and AP watches averaged 7 per cent.
More than 60 per cent of transactions were online compared to 15 per cent for new purchases. While men still make up the majority of buyers, the number of female and younger collectors is growing rapidly, she added. Philadelphia-based WatchBox is one of the top sellers of pre-owned watches in the world with operations in the US, Switzerland and Hong Kong and backers including former NBA great Michael Jordan and activist investor Bill Ackman.secondary luxury watch market
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rising temperatures in tropics to lead to lower coffee yields and higher prices, study suggestsClimate crisis to deliver ‘ongoing systemic shocks’ to production as hot conditions become more frequent, researchers say
Read more »
In Aston, the looming federal byelection takes second place to grocery prices for localsMany see the 1 April vote as the first electoral judgment of how well the Albanese government has responded to the cost of living crisis
Read more »
Buyers circling for a bite of battling food groupsThe share prices of a string of groups including Vegemite owner Bega Cheese and Costa are down by 25 per cent or more, increasing the prospect of more buyouts in the sector.
Read more »
Doubling of BP boss pay to £10m is a ‘kick in the teeth’, say campaignersBernard Looney’s bumper pay package follows annual profits of £23bn linked to soaring gas prices sparked by Russia-Ukraine war
Read more »
Australian rental vacancies at half of pre-pandemic levelsRenters around Australia are seeing fewer properties on the market each week and the lack of available properties has forced weekly payments to skyrocket.
Read more »
Melbourne rental crisis: ‘Rent bidding’ concerns in out of control market - realestate.com.auKnockout rent offers are rampant in Victoria’s raucous rental market, despite it being illegal for an agent or landlord to solicit higher prices
Read more »