Much has been written about the growth of the pre-owned watch market in recent years, but just how long has this been happening, and will watches hold their value during a recession? With consecutive seasons of watch auctions breaking all-time records, luxury conglomerate Richemont spending an estimated €200m to acquire second-hand dealer Watchfinder & Co just over 12 months ago, and brands such as Audemars Piguet announcing their intention to sell their own pre-owned watches, there is a current land-grab for control over the lucrative pre-owned market. Beyond specific pre-owned markets, something is happening in the retail watch market too, which Sandra discussed in her frustration at the combination of waitlists and the premium over retail for certain models. In 2019, stainless steel is literally worth more than its weight in gold. But the phenomenon of waitlists feels recent in the watch collecting world, with some Rolex professional models being relatively easy to buy at retail only a half-decade ago. In actual fact, this uptick in the pre-owned market began a lot longer ago, with the FHH Journal observing strong auction results in 2008. That’s right, if you wanted evidence that the watch market behaves a little differently, this article…
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