Wealthy individuals buy watches with strong brands
Joseph Banin, Director at Frost of London, a luxury watch retailer, says that customised pieces are something that wealthy clients really want.
What trends do you see in passion investment?
UHNW consumers want to buy into a brand and they want to know the history of the watch. For example, Patek Philippe with their advertising are endorsing longevity and clients want to feel this connection with the brand. They want the brand to tell a story. The luxury offering is vast and this is what makes one watch stand out against another.
What is the most important thing to know about when buying high profile watches?
It’s very important to decide if it is a passion investment or a watch they will actually wear. Predominantly, UHNW clients already have a collection of watches and need advice on how to add to it.