High-end watches are a ''fantastic'' investment strategy

First published: 18-03-2010

Looking to ensure your money is safe from market forces in the continued economic confusion after the worst of the recession? It may be that watches provide you with the best hope, according to a new report.

In a study of the industry for the New York Times, it was noted that 2009 proved to be a "surprisingly strong year" for watch auctions, despite the problems with investment strategies elsewhere.

And while sales figures dropped at auction houses such as Christie's and Sotheby's, the percentage of lots sold exceeded 90 and 80 per cent respectively.

Speaking to the world-famous newspaper, Aurel Bacs, the international co-head of Christie's watch department, said that actual sale prices were double or triple expectations, making 2009 a "spectacular year".

He said: "We had secured consignments in the fall of 2008, after the collapse of Lehman Brothers, when the world was in turmoil. Sellers were hesitant to consign the best lots."

However, Mr Bacs reiterated that "spring auctions showed that prices were strong and the market was hungry for more goods."

Earlier this month, French luxury group LVMH did not rule out the possibility of acquisitions in the watch sector over the next few months, though denied links to the potential purchase of Bulgari.

© Copyright WATCH SHOP UK - DO NOT COPY

Related articles

Under the spotlight: STORM watches and jewellery

Posted: 27-11-2018

STORM London is known for breaking the rules with its edgy, sophisticated, and fun watch and jewellery designs. Get inspired to shatter expectations and check out some of our favourite STORM designs today.

Under the spotlight: Timex watches

Posted: 27-11-2018

Formal, sporty, vintage, or casual? Choose your next watch from the timelessly iconic Timex collection and combine legendary fashion with contemporary chic.

Under the spotlight: Guess

Posted: 19-12-2018

Make your next watch a Guess watch and choose from a range of gorgeous styles and designs for men and women. Whether you want reimagined vintage or stand-out chic, there’s a Guess watch for you.

A guide to buying a fitness watch for 2019

Posted: 20-12-2018

Use our guide to choose a watch that helps you hit your fitness targets this New Year, whatever your ability. Explore sharp designs from a range of top brands, including Polar, Garmin, Fitbit, and more.

CATEGORIES

PREVIOUS NEWS