The prices of luxury watches spiked very much in 2022, but now it’s coming back to a new normal, making it the right time to stock up on premium wristwatches. Buying luxury watches is a huge task due to many factors attached to its purchase. The first thing that ever comes into the mind is the right time to buy these timepieces. Learn more about why you should be buying your next luxury watch now.
The Condition of Current Luxury Watch Market
During the time of COVID, everyone thought that the luxury watch industry would collapse and people wouldn’t be buying as much as they used to. The uncertainty was real, but the opposite happened.
The pandemic became the prime time when the luxury watch industry saw a hike as people were not going anywhere and had all the cash to spend on something. This is where they started to look into luxury watches and purchase them more than before. There have been many online auctions for luxury watches where buyers bought luxury watches.
However, since the market was low, the prices fell below after COVID-19 causing a problem for those who already owned luxury watches. Since then, the prices of luxury watches have declined, making it the best time for watch lovers to purchase them. According to the experts at WatchMaestro, luxury watch prices will definitely go up soon turning your current investment into a goldmine in the future.
Which Luxury Watches to Purchase in 2023?
Some of the biggest names in the luxury watch industry have seen a dip in prices, including Rolex, Patek Philippe, and Audemars Piguet. The Bloomberg Subdial Watch Index shows a total decline of 19% in luxury watch prices in the last 12 months.
Here are a few high-profile watches, offered at a low rate right now making them the perfect option for investment.
Rolex Daytona is one of the oldest watch models by the brand. The market saw a sharp decline in the prices of Daytonas, making it the best purchase for luxury watch-lovers. In general, the prices are not supposed to stay too low and have already started correcting themselves, but there’s still time until it comes back to its original price.
Despite everything, Daytona is Rolex’s statement watch and a must-have in every collection. It’s better if you can find a vintage or rare Rolex Daytona to get a better price while selling.
Audemars Piguet Royal Oak
Audemars Piguet Royal Oak is another worst performer in the market right now. Many buyers have been looking for alternatives for this watch and are moving to the Vacheron Constantin Overseas collection, thus causing a slight decrease in its prices.
But it’s AP’s one of the best watches, so it’s prime time for watch lovers to get their hands on this beautiful watch before the prices go up again. Audemars Piguet watches are known to give good returns on investment, so you can’t hope for the worst when it comes to this brand. If you’re looking for a reliable seller of AP watches, then you can check out WatchMaestro for the best prices.
Patek Philippe Nautilus
Last on the list is Patek Philippe Nautilus, which is every watch enthusiast’s favorite for obvious reasons. However, the luxury brand is seeing a sharp decline of about 10% in its prices.
Despite the current situation, the prices of this luxury watch model are improving with time. This makes this luxury watch the best purchase of this time. So, if you’re thinking of it from a business perspective, investing your money in a Patek Philippe Nautilus will definitely get you great returns!
Is Now the Best Time to Buy Luxury Watches?
With the prices declining to a new low, now is the perfect time to invest your money in luxury watches. Many people are still waiting for the market to become stable, but the more you wait, the more you will lose your chances to purchase an ideal luxury watch at a low price.
Many sought-after pieces are priced very low, which can eventually give you good returns in the future. If you’re a watch collector, then you have a great opportunity to buy Rolex, Patek Philippe, Audemars Piguet, and several other watch brands at an affordable price tag.