Increasing Watch Prices

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JAFO
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Increasing Watch Prices

Post by JAFO »

I don't know if it's to do with Covid, and people are sitting on more disposable funds at home, but I have noticed watch prices are now quite a bit higher than before Covid.

I was interested in a speedy and was tracking various models a couple of years ago before making a purchase.
After the new speedmaster 3861 was released, people were saying it was very hard to get any discounts at all on the expired model, and that seems to be the case.

As well as the speedmaster professional, with the already discontinued speedmaster racing 40mm, nearly new models seemed to go up from between £2000 to £2400, and now for similar age watches, so now maybe 4 years old, prices are even higher in the £2700 to £3000 range.

The current speedmaster racing 44mm (bicompax dial) was also available at times for under £5000, sometimes as low as nearly £4000. You see hardly any under £5000 now.

I was also considering the Zenith El Primero Chronomaster (slim bezel, not the new daytona like sport)
A couple of years ago that was in the low £4000's but is much higher now.

I am not so familiar with other brand, but Is this a trend across the board? Are some brands not maintaining prices as well as they were, or are prices generally rising quite a bit faster than just inflation? I know "star" watches are virtually unobtainium, but is this trend to be seen with Tudor say and similar entry level luxury watches?
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Re: Increasing Watch Prices

Post by Soporsche »

I'm not really seeing it on nearly new/pre owned CW or Oris but have been tracking Omega (AT & Speedy), Longines, Zenith and Panerai and seeing at least a holding firm on prices and a modest increase in others. Speedy Pro + 20-25% on certain models.
In the UK the used car market is showing the same trend with Autotrader showing a 15-20% increase in prices (and lower supply) on quality used cars especially luxury brands. Anecdotal example, I have been looking for a specific 2nd car (fun car) for over a year now and current prices are indeed 20%+ higher than this time last year for the same make/model, year, spec, condition.
Its widely reported that Covid is indeed a factor ie no holidays or social costs for last year or for many this year, less travel (to work) costs, less commuting mileage on cars etc. For those that have kept their jobs/income during the pandemic then yes they have more disposable income and are buying the car they always wanted or maybe watch?
The Financial Times also had a good report a number of months ago on the increase in sales of luxury watches and collecting (inc pre owned) during lockdown.
Stephen

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Re: Increasing Watch Prices

Post by GTC854 »

I concur with the above. I have been flirting with the idea of a Breitling Superocean and have been keeping an eye on prices. They have gone up over the last 18 months but not evenly. New they have jumped but the used market has held steady. Watches that dealers have had in stock for a few months have remained at the original asking prices but new stock items have risen between £100-£200 for a given year.
My son in law is a car salesman. He tells me this is a great time to sell your car with the majority of vehicles worth more than they were this time last year. However he has very few new cars available. He works in a BMW dealership and on the majority of cars he tells me there is a 2-3 month waiting list.
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Re: Increasing Watch Prices

Post by H0rati0 »

I cannot comment on the new watch market as I do not envisage buying new except under the most singular of circumstances.

In the HQ used market that I do track, my observation is that price rises are very patchy and confined to specific models but overall there is definitely less supply and the market is clearing more quickly which could be a prelude to more widely rising prices....
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Re: Increasing Watch Prices

Post by rkovars »

I have been looking at pre-owned/nearly new Tudors for several months. I would say prices have flattened or gone down slightly on desirable models. BB58s and BB GMTs have been trending down since the release frenzy has died down. Supply might also be a factor. My local AD (which is a pretty popular retailer in the area) has had all three models in the case the last couple of times I have been in. The 925 and the latest releases are still going strong.
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