A Decade from now, when a Rolex was mentioned, we often had a Day Date in Gold casing or a Rolex Submariner in mind. This had been the trend with all brands and not just Rolex, simplicity in watches were often more expensive than the Sports or complex watches.
Today however, with the growing number of Asian buyers combined with the young millionaires who are always looking to dress to impress, has sparked a trend that seems to be unstoppable and are leading the prices of watches to a point where real estate agents are now getting into due to higher returns in investments compared to property and real estate prices.
Roughly 3 years ago, a Patek Philippe 5711 was priced at US$ 25,000 with a waiting period of within less than a year from Patek Philippe’s workshops and a lot of vendors usually carried this watch in stock.
Today however, this particular model is sold at USD$ 48,000 and when ordered from Patek Philippe today there is an estimated waiting period of 7-10 years before you’re able to get this product in hand. This is just one of the examples of how the watches have turned into a gold mine for investors with cash at the moment.
The Patek Philippe Model number 5980 in 2016 was priced at US$ 30,000, today we see prices soaring close to US$110,000 and is set to go right up to US$200,000 within the next 2 years
The Rolex Daytona
Another great example of the upward trend in sports watches is the Rolex Daytona. Prices for a Daytona watch back in 2010 were at the US$ 8,000 to US$ 10,000 range, however with the growing demand from the Chinese market and with the young now getting into collecting watches, the Daytona’s have seen a price jump to US$25,000 a piece.
What we’re seeing here perhaps is just the tip of an iceberg. With the Chinese government cracking hard on corruption of officials and limiting number of purchases of real estate in China, the next best investment would be Luxury watches from Patek Philippe and Rolex which are deemed as safe assets and can be liquidated quite easily. Patek Philippe and Rolex have both insisted they would not increase their production capacity to meet the demands which will be another major factor for price increases of Sports watches in the Future.