Resale Luxury Wactches stands as the fastest growing segment of luxury watches. Fostering this market is not only collecting but also the evolution of how luxury and its world are purchased.
This market comprising the second pulse is worth CHF 20Bn in Switzerland alone to date, more than half of new, and has a huge exponential growth (projected to be around 35Bn in 2030 +75%) and from a comprehensive analysis of the auction market the first half of 2022 marks a 47% increase over the first half of 2021 and a 133% increase over the same period in 2019.
In addition to passion and collection, this trend is becoming more and more popular because watches are increasingly considered a safe haven asset due to their intrinsic value, which protects them from devaluation and indeed increases their value.
Waiting lists for the industry’s new top-of-the-line models are prompting customers, lovers and collectors to regard this market model with increasing attention and interest.
In addition, the target audience of potential buyers is much broader and includes both customers who prefer to turn to the secondary market to find the desired timepiece but also much younger customers who buy watches much more frequently and are very interested in used watches that retain or gain value over time.
Manufacturers of the best and most emblazoned luxury watch brands are also looking favorably on this growing market. Second-wrist, vintage and collectible watches do indeed have a positive impact on brand reputation.