Watches will 'always be resilient' despite market

First published: 03-12-2009

Investors looking for a market which is seemingly recession-proof ought to consider purchasing watches, it has been said.

BusinessWeek, a leading magazine in the US, said that timepieces were classically seen as items of luxury or status, though this has evolved over the last few years to expand the ownership of watches from royalty or high-end clients to people with serious collection desires who are able to match their desires with big wallets.

It explained that the US has always been a strong market but that the top buyers' geographical location is getting very broad, encompassing areas of Asia, Russia and, perhaps unsurprisingly, the Middle East.

Patek Philippe's yellow gold Calibre 89 pocket watch was recently put on sale in Geneva and ended up selling for over £3 million - something BusinessWeek believes is a major indicator of this trend.

A watch designer, Michael Kors, recently explained to the Independent that watch collectors ought to dress to look rich but not obnoxious, with a fine line between the two.

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