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
Vartkess Knadjian, CEO at Backes & Strauss also says diamonds and craftmanship add value to watches.
Is it a good time to invest in watches?
Yes. The intrinsic value of a watch made by a craftsman will never lose its value. The hours of meticulous work that goes into creating a master timepiece means that most watches are a good investment and increase in value overtime.
How and where to buy?
Visit boutiques in person to be educated on timepieces to be sure you are making the right decision and the watch is right for you. Each timepiece has its own identity and you need to be sure it is a good match. As for the location, London is the best place to buy watches now. Sales are higher in London than anywhere else in Europe and I think that says a lot about the quality of the brands.
Has Brexit impacted the watch industry?
The UK is a tourist-driven market and the fall in the pound means more tourists are buying watches during their travels.
How should I store a precious watch?
Look after the watches carefully, have them serviced regularly to keep the mechanisms working. If you have a mechanical watch, keep your watch in a box that will keep the timepiece winding when it is not being worn.
What features add value to the watch?
In our case, the fact that our diamonds are of the finest quality adds value to our watches. We only use D, E or F coloured diamonds that are internally flawless with only a very slight inclusion. Also the higher complication watches are of very high value due to the many hours it takes skilled craftsmen to produce by hand, even the numerals are hand polished and hand set onto the dial. For example, our Berkeley Emperor Tourbillon showcases both design intricacy and jewellery bringing a balance that is rare to find elsewhere.