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Premier league footballers are purchasing watches both as a luxury wear and as investment opportunities

Date: 17 Feb 2016

Bumblebee Design

Mark Blowers, managing director of Blowers Luxury Watches in Mayfair, London, also says one hedge fund manager in Geneva, has a collection valued at approximately £15m pounds.

 

Who is buying high value watches?

One hedge fund manager in Geneva, who is a regular client in London, has a collection valued at approximately £15m pounds, including a Patek Philippe 5002P model valued at approximately £1m. A number of premier league footballers and other sporting clients are also growing their collections, purchasing watches both as a luxury wear and as investment opportunities.

 

How do you make a good watch investment?

Over the last decade the value of classic watches has risen by more than five percent a year, with certain pre-owned models more than doubling in value over this period. However, you cannot simply go into your local jewellers, buy a relatively average model from a well-known manufacturer, and think you will get back in a few years what you paid for it. Researching before buying is essential, so you know which brands retain their value, and what is a strong investment. As a rule of thumb, Patek Philippe and Rolex are two brands best at holding their value. Diamond-set pieces often depreciate the most.

A factor likely to influence a model’s value is when it is discontinued, how many where produced, and subsequent demand. Some quality manufacturers frequently change their range and cull certain models. This is not in the buyer’s control so sometimes there’s an element of good fortune involved.   

 

Can people make a living out of watch investment?

Broadly speaking, it would be difficult to make a living out of watch investment unless it was the industry you worked in as a broker or a boutique-owner. Watches often take five to seven years to appreciate in value, and those who make big margins will be buying and selling with a business supporting them. You could however invest in luxury watches as part of your plans for a pension fund.

 

Tell us about unusual watches and how people wear them

One of the most unusual watches I’ve come across is the Paul Newman Vintage Rolex Daytona. It is one of the most sought after watches in the industry, often considered the ‘holy grail’ of watches.

The watch of choice of the legendary actor and racing driver, the Paul Newman Daytona has one of the most impressive ‘exotic’ dials and is clearly visually distinct from the standard Rolex Daytona. Rolex deliberately produced only a few of them, and today the iconic piece can fetch £60,000 – £80,000.