Brexit makes Rolex prices soar
David Sonnenthal, founder of New Bond Street Pawnbrokers in London’s Mayfair, also says if buying for investment stick to Rolex, Breguet, Audemars Piguet and Patek Philippe.
8 December 2016
Joanne Lewis, deputy director and head of watches department at Sotheby’s, also says that the demand in the market for Patek Philippe and Rolex is strong.
Is it a good time to buy watches in auctions?
We have noticed a constant increase of people coming to Sotheby’s to buy and sell watches. The demand continues to grow and the market keeps becoming more and more well-informed, favouring quality.
What watches are the best investment?
The demand in the market for Patek Philippe and Rolex is strong, with clients seeking rare models in good original condition. We are also seeing interest in rare pocket watches and complicated English watches, such as a Charles Frodshams minute repeating split chronograph tourbillon watch owned by JP Morgan that is appearing in our forthcoming London auction on 15th December.
How should I buy?
It is always important to do your research before an auction. Don’t hesitate to contact specialists, check previous auction prices to find comparable pieces and set yourself a maximum bid. The best approach is a balance between buying what you like, prioritising quality and understanding the pieces.
Has Brexit impacted the watch industry?
London remains a location with an impressive number of watch collectors, with the international market also very present, making the city a dynamic market.
How should I store a precious watch?
Watches should be wound and enjoyed regularly. The movement should receive a service every seven to ten years to prevent damage to the mechanism.