Investors who love luxury and luxury stocks are smart to shy away from luxury watch companies as the adoption of ‘smartwatches’ sends shock waves through the wrist watch market.
Instead, savvy players are looking to the past to make a few bucks as vintage luxury anything has become the next hot ticket in luxury investing. Cars, watches and handbags all continue to break records at auction houses and market leader Philips has recently completed a set that brought in the largest haul for any timepiece auction in Asia recently.
The cliche, what’s old is what’s new, is definitely an algorithm for investors looking for a unique place to park their money. Read more from Phillips:
Phillips, The Worldwide Market Leader in Watch Auctions, Achieves HK$106.9 Million During The Hong Kong Watch Auction: FOUR The Highest Sale Total for any Watch Auction in Asia this Season
HONG KONG – 31 MAY 2017 – Phillips, in Association with Bacs & Russo, concluded the spring season of sales in Asia with The Hong Kong Watch Auction: FOUR, achieving HK$106,925,000 / US$13,718,478 ? the highest sale total for any watch auction held in Asia this season. Over 340 collectible timepieces of the finest quality, spanning three centuries of watch making, attracted collectors from 45 countries across six continents, including 450 online bidders. Particularly strong results were achieved for vintage Patek Philippe timepieces, with four watches exceeding US$500,000, along ...