Used Rolexes Are Beating the Stock Market

  • 📰 WSJ
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

The market for coveted preowned luxury watches has grown about 20% annually from mid-2018 through this January, beating the S&P 500

Collectors often pay double or triple the price for a secondhand watch, even one that may have just left the store, said Nicolas Llinas, a principal consultant in BCG’s consumer-practice division who helped author the firm’s report. For example, Rolex Cosmograph Daytona watches with a retail price of $14,800 recently sold on secondhand platforms for as much as $38,500, according to BCG. One such platform, WatchBox, helped fund BCG’s latest watch research.

Researchers at BCG say there are two reasons people are spending thousands on a used watch: secondhand platforms have emerged as increasingly viable places to buy the items and social-media communities have helped generate buzz for watches as investment pieces. “I look at secondhand watches as a rental,” said Mr. Ang, a fruit distributor in Manila. “You wear it for a while, you enjoy it and realize, ‘I don’t think it’s me.’”

In 2021, preowned watches accounted for nearly a third of the $75 billion luxury watch market worldwide, according to BCG. Preowned-watch sales rose 3% in 2020 after the pandemic started even though sales of new watches fell 17% that year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

gurgel_lucas E minha coleção de Patek Phillipe antigo, como fica?

I know, and make sence totally, this kind thing because I've a Rolex, the price has gone up last few years. !!

Yeah because many of the expensive watches are being snatched in London

I am 2 religion because Cristian religion was wrong Muslim religion save me for one life and after the death

Asset bubble

Can we buy a part of share of that Rolex? You know what I mean.

i need saport life.non beat.M

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in US

United States United States Latest News, United States United States Headlines