Watch collectors holding onto their treasured pieces may be securing their financial future. With the ever growing value of antique watches, they are considered a smart investment. If you have been considering whether a watch collection is really the right move for you here is some information on the recent market state:
Auction houses have reported selling over $100 million of watches a year in recent years, with a Christie’s auction recently selling many wristwatches at a substantial profit to collectors. John Reardon, head of Christie’s, gave an astonishing example of just how profitable wristwatches can be: a Patek Philippe watch that originally retailed for $275 in the 50s was later auctioned off, bringing in over £50,000, this was one of the biggest increases in value of timepieces seen.
A ‘staple’ of watch collections, the Rolex Submariner, was originally priced at $300-$400 and today with fetch around $8,000 at auction.
Another watch collector mentions that he has recently sold off a few pieces from his substantial collection that started off with a Casio watch at the young age of 8. His collection built from there and today he has around 60 pieces. With the financial returns from these pieces, he has used the money in a business venture, securing his future.
Although as with any market, the watch market has the ability to fall at any point, it is currently looking strong with many timepieces fetching a healthy sum, and it’s all about timing.
Not only are these timepieces a wonder to look at but really do hold a future. Are you looking to expand your collection? Take a look at Pieces of Time’s extensive catalogue and find yourself some antique wrist watches or pocket watches UK.