Studying the Luxury Watch Investment market 2023 and 2024 - An interview with Marya from Love Luxury

Studying the Luxury Watch Investment market 2023 and 2024  - An interview with Marya from Love Luxury

In our most recent interview with Marya from Love Luxury, we explore the world of luxury watches, focusing on 2023's market leaders and anticipations for 2024. We discuss the impact of new and discontinued models from giants like Rolex and Patek Philippe, the value proposition of smaller brands, and strategies for securing coveted timepieces. Additionally, we examine the significance of relationships with authorized dealers and the influence of watch fairs on collectors’ access to rare models. Marya's insights also touch on models with the best historical value appreciation and tips for tracking the market as an investor or collector.

What did you see as the best performers in terms of watches in 2023, and what do you see happening in 2024?

New releases from big names such as Rolex, Patek Philippe, and Audemars Piguet have performed well on the secondary market this year, as have the discontinued models which see a rise in demand once they’re no longer available directly from the retailer. The prices they can fetch shoot up as soon as they’re discontinued but then stabilize once the hype has died down. I don’t think there will be any major change in 2024; if anything, I think prices may drop.

Are there any small brands or specialist/niche manufacturers which potentially have watches that are more affordable than the well-known brands but could see serious appreciation?

Breitling and Tudor are high-quality, much more affordable watch brands, but they don’t appreciate in value; they would always sell for less on the secondary market. They are nice 'entry-level' watches if you're looking to buy to keep and wear personally and often use the same mechanisms as the high-end styles. They’re practical, too, and designed to be worn every day, but they’re not investment pieces.

What are the best strategies for securing in-demand models from Rolex and Patek Philippe?

You have two options if you're patient and willing to spend money to get what you want: you can go directly through the brands, but you need to play the game. Waiting lists can range from 3 months to a year, and the brand will expect you to purchase other watches they may offer you before they give you the chance to purchase the big in-demand models. Loyalty is key for these brands; they want to minimize the chances of their products appearing on the secondary market by only offering pieces to whom they classify as loyal customers. If a brand gets wind that a customer has bought the watch to sell on at a profit, they will be instantly banned from purchasing anything else from them.

The second option is to go directly to the secondary market, find a dealer you trust, and source it that way. You should expect to pay over the RRP for an in-demand watch this way, but it’s also a lot quicker, and you don’t have to have previously bought from the brand, so it can save you money overall.

How important is it to build a relationship with authorized dealers or boutiques? What are the benefits?

If you have the time and energy to build a relationship with an authorized dealer, then yes, there are benefits, such as being one of the first to be offered exclusive watches from the brand. However, if you don’t want to play the game and only want to purchase the watches you actually want, rather than for relationship-building purposes, then a relationship with a third-party dealer can be more beneficial.

Are there specific watch fairs or events that collectors should attend to get access to rare models?

Watches and Wonders is an annual collectors' event which takes place in Switzerland and then travels to different parts of the world. It is the main one and can be very beneficial to attend. There are a lot of very important, influential people that attend from the world of watches, making it a great place to make connections that can lead to access to some of the most sought-after watches in the world.

Which Rolex and Patek Philippe models have historically shown the best appreciation in value?

With Patek Philippe, it’s the Aquanaut and Nautilus models that increase in value each year, and with Rolex, the best models for increasing in value are the sports ones. With other Rolex and Patek Philippe watches, it depends more on the timing; new models will rocket in value if they’re rare, but the price generally stabilizes as newer models are released.

What is an effective way of tracking prices and models as an investor/collector?

Chrono24 is a very useful website that connects dealers all over the world and is a great way to judge the demand and price of certain models. There’s also a wealth of watch experts on social media who can offer really valuable advice. As a dealer, I am in many industry groups with dealers around the world, which is how I am able to always stay on top of what is happening in the market.

Conclusion

Our insightful exchange with Marya offered a concise overview of the luxury watch market's current state and its future trajectory. Her expert analysis provides a blueprint for navigating purchases, whether for personal enjoyment or investment. The interview underscores the importance of understanding market dynamics, the value of industry relationships, and the strategic use of resources like watch fairs and online platforms to stay informed. As we look to 2024, Marya's advice equips enthusiasts and investors with the knowledge to make informed decisions in the evolving landscape of luxury watches.

Read more