The Big Question!
With all of the chaos in the world and the crash of most markets including watches, is now the time to buy?
Buy the Dip?
Any serious investor will always say you buy the dip and the same could be said for watches. at RR Jewellers we have seen a significant change in the market from when we entered 2022, the demand and supply for watches fuelling a high demand, low supply driven by a lot of private owners and traders holding out for either model discontinuation or riding the wave of ever increasing prices driven by demand.
Then comes several factors that caused the crash and initially the sanctions on Russian buyers took away a huge customer base and cash flow in the capital for the luxury watch market in the UK, then the cost of living, rising fuel and utility prices and so on and so on.
Did it get out of hand?
Rolex prices I feel did get out of hand, and probably the 'trade' fuelled this simply because we could. Demand was so high it became a name your price scenario and like lemmings we all followed the trend.
Time to buy?
I genuinely believe now is the time to buy, prices are stable and also achievable in the grey market for consumers. With Rolex Date-just models available below £10'000 along with older Submariners, these are great watches to purchase.
The grail Daytona has also significantly dropped 20%+ from its peak a few months ago and now is the time to capitalise on this 'dip'
Take this unworn, stickered 2018 Bi-Metal Daytona which is available for £19'950. Not only is this a true investment watch at the right price, it is also an amazing timepiece to be worn. At sub £20k and not a hugely inflated price above RRP it is a prime example of a stable market and value for money.
This is only one fine example of value for money watches available across our Yarm and Newcastle (Fenwick) Boutiques, please get in touch to discuss options.
This post is purely an opinion and not market advise by any means
Best Regards
JR