“By 2030, the pre-owned marker is likely to grow to CHF 35 billion (US$35 billion)”
Interest in luxury watches surged during the pandemic as housebound consumers, flush with cash from lack of traveling began lusting over luxury watches online, and the watch market will continue to boom. Watch market has been outperformed majority market, see the figures below: comparing with cryptocurrency and property market. According to the Deloitte Swiss Watch Industry Study 2022, owning a watch has become more important in Millennials and Gen Z, and it’s not just smartwatches.
Annual sales of second-hand watches will jump to 35 billion Swiss francs (US$35 billion) by 2030 from 20 billion Swiss francs now. Besides, more than of the watch industry executives think offline sales will still dominate over the next five years, whereas e-commerce sales continue to grow at the same time, and nearly half of the Millennials and Gen Z prefer online shopping which indicates that established second-hand sales platforms, including Chrono24, Subdial, and Watchbox etc. will continue to expand.
The most important week of fall auctions in 2022 has been completed, Geneva auctions achieved CHF 114.2millon. From the fact of high turnover proves that there is a high demand in the luxury watch market, the watch auctions can attract potential buyers from all over the world and maintain the high liquidity for watch collectors.
The study and the auction records herald an acceleration of trends currently shaping the global luxury watch market, the boom in high-end preowned watches led watchmakers such as Rolex to launch their secondary-market sales strategy (Certified Pre-Owned programme) to capture the maximum shares in the market.
Fund directors joined the auction events accompany by watch specialist from LW Luxury Watch Fund.
Our advisors raised in the watches industry for generations, all equipped with extensive knowledges in timepieces.
Involvements of the independent legal professionals & fund admin, ensure the fund is supervised by the Cayman law & HKSAR law and fund requirements.
The above content is for professional investors only, and the content should not be regarded as an offer.
Please refer to Hong Kong Securities And Futures Commission for the definition of Professional Investors. The contents of this website have not been reviewed by the Securities and Futures Commission or any regulatory authority in Hong Kong.
Disclaimer: The above information is intended for professional investors only and the contents should not be considered as promotional materials or any kind of offer.
For the definition of professional investors, please refer to the relevant information from SFC of HK. The above information has not been reviewed by the SFC of HK.