Luxury watches are more than just a status symbol, but also an attractive investment opportunity since they appreciate in value over time.
Due to a shortage of supply and long waitlists, the watch often sells for a premium on the pre-owned market.Luxury watches are now more than just a status symbol, they are fast becoming an attractive investment opportunity thanks to the fact that their value appreciates over time. "This phenomenon has been seen with other luxury accessories like the Hermès Birkin, which cost $2,000 in 1984 but $13,200 in 2022. Likewise, the Chanel Medium Classic Flap price went from $220 in 1955 to $8,800 in 2022," said Zahariev.Rolex Yatch Master"This watch is currently retailing for R300,000 but due to shortage of supply and long waitlists, it often sells for a premium on the pre-owned market.
"With watch manufacturers producing limited numbers of certain models to ensure exclusivity and quality, this intensifies both desirability and demand and, in turn, affects prices," he said.
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