The CoVid-19 crisis has taken a huge toll on the world economy, bringing it to a standstill. This is evident in the luxury watch industry, as stocks are short and factories are being closed temporarily. GBP is also losing its value against international currencies. As a result, the price of some models are declining while investment-grade and sought-after ones remain unaffected and will surge in value.
So, what does this mean? Whether you are a collector or a dealer, you definitely can’t help but think about the future of the industry. While everything seems bleak and uncertain at the moment, we believe that behind every adversity is an opportunity. You might probably wonder how confident we are to state such affirmation. Well, that’s because we listen to industry experts who have seen the highs and lows of the luxury watch world.
Here’s what they have to say.
The Chaos Won’t Last Long. According to Oliver Müller, a veteran of the industry and former CEO of Laurent Ferrier, the current chaos will not last long and will temporarily take a toll on both manufacturing and the development of novel products. He also notes that this won’t be the key driver for structural change. Given that Müller has been involved with several timepiece brands through market dips in the past, he is well familiar with the resiliency of the industry.
This is supported by William Massena, also an industry veteran, former CEO of Antiquorum, founder of Massena LAB, and Managing Director of Timezone. He claims that every down-market has witnessed Rolex and Patek Philippe coming back in the scene much stronger. And that’s because these luxury brands can afford to invest in premium marketing positions and take market share when nobody can. Moreover, he states that they can position themselves well the moment the economy gets back on its feet.
Luxury Watches for Sale in London Remain as Safe Assets
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If you are an investor, there is a ray of hope. According to Watches at Sotheby’s Head Sam Hines, he is positive about watches remaining as safe assets. He recounts that in 2008 and 2009, certain individuals chose to invest their money in tangible assets and not a risky investment or an unstable stock market. This insight is backed by Davide Parmegiani, one of the most influential timepiece dealers and specialists in the world. He is the man who used to handle four of the iconic Patek Philippe 1518s in steel. Stating that it is not the first time he has experienced an economic crisis situation such as this, he is confident about the future of collectable vintage timepieces. According to him, crises have never massively impacted collectors’ watches and the market will come out stronger than before. He cites the average value of the watches in the last three decades as an evidence to this.
Collectible Timepieces Will Exist Continually
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Parmegiani also stresses that new and used luxury watch collectors will be here to stay, as they are fueled by visceral passion. This implies that even if a person is locked down at home amidst a bleak situation, their emotion will drastically change for the better when they open a box of timepieces where their treasures are kept. Hines shares the same view, saying that the yearning to collect timepieces during a crisis is usually at its peak. That’s because collectors want to escape the reality by digging into their passion of collecting pre-owned luxury watches in the UK and coming together as a community.
According to the forecast of Bain & Company, a leading management consulting firm based in the USA, sales could decline down to 35% this year. However, watch companies can still rise stronger, more purposeful, and more innovative. And if you want to buy luxury watches online UK, the current situation is an opportunity in disguise. With the prices of invest-grade watches continuously rising, they serve as a secure and valuable asset.
We’ve already heard it from industry veterans who witnessed how the luxury watch market has bounced back stronger even after the worst of crises. And we hope that this sheds light on your worries and uncertainty. Whether you want to purchase or invest in luxury watches, you can play your cards well during this situation and use them to your advantage. And to give you an insight on the top 10 best men’s luxury watches UK to invest in right now, we have rounded them up below.
Top Luxury Watches to Invest in UK
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- Tudor Heritage Black Bay - This exquisite diver's watch in stainless steel is the latest addition to the Heritage Black Bay family. It features the MT5602 self-winding mechanical movement coupled with a bidirectional rotor system. And the best thing about it is that it boasts a 70-hour power reserve.
- Audemars Piguet Royal Oak Automatic - This beautiful watch consists of 280 parts and 40 jewels. It is powered by a self-winding calibre 3120 movement. Plus, it comes with a 60-hour power reserve.
- Rolex Submariner - This timepiece is truly an icon, making it one of the most triumphant diver's watches ever made. It comes with the Rolex manufacture 3135 movement that is beautifully housed in a 904L stainless case. And the best part? it is waterproof to 1000 feet (300 metres).
- Panerai Luminor Base - This iconic luxury watch in the UK is designed in Italy but crafted in Switzerland. It boasts the hand-wound Panerai OP I calibre that comes with a 56-hour power reserve.
- Omega Seamaster 300M - A sight to behold, this luxury timepiece sports a sand-blasted dial featuring rhodium-plated hands coated with "vintage" Super-LumiNova. It also has a polished ceramic bezel ring with a Liquidmetal diving scale. Also, the meticulously crafted transparent caseback makes the anti-magnetic OMEGA Master Co-Axial calibre 8400 visible from within.
- Rolex Explorer - This one is a slick and monochromatic affair. Thus, you can pair it with anything. What's more, it comes with fully-lumed numbers and hands, making it easier to read in low light conditions.
- Rolex Daytona - The Rolex Daytona was first launched in 1963. Since then, it has been known as the brand's motorsport or racing timepiece due to its bold chronograph. Its price starts at around $12,500.
- Tag Heuer Carrera - Launched in 1963, Tag Heuer Carrera is amongst the ultimate racing timepieces due to its accurate and easy-to-operate chronograph. And since it comes with various colours, you can choose the one that perfectly suits your taste.
- Speedmaster Moonwatch Professional - Also called the Man on the Moon watch, this was one of the first-ever timepieces in space, and the sole watch approved NASA to be utilised on the moon. In spite of having a detailed chronograph, the Speedmaster still looks classy. Thus, you can either dress it up or down.
- IWC Pilot's Watch Mark XVIII - Looking for a timepiece that is dressy and yet not so flashy? Then you can never go wrong with the IWC Pilot's Watch Mark XVIII. This is perfect in every angle, making it one of the costliest watches on the market. A new one is priced approximately $4,200 while one with more features and additions could cost up to $10,500.
The luxury watches for sale in the UK are available in exquisite collections. They make a great gift not only for yourself but also for your loved ones. You can also use these watches as a gift to your friends. So, what are you waiting for? Explore our legendary and iconic models here and get your hands on the ones that you desire at the best prices. Whether you are on the hunt for a new, pre-owned, or bespoke luxury watch for sale, our inventory will cater to your needs, taste, and budget. So, embark on your luxury watch shopping journey here at Time 4 Diamonds today!
