Collecting Watches is on the increase
The watchmaking industry saw an increase this year
Many industries have been hit hard by the stagnating economical climate the world has been mired in for the last few years. Interestingly, watch sales have realized a growth that no other industries have been able to maintain. Luxury watches have always attracted savvy buyers for many factors:
The world record prices getting fetched at auction have driven a lot more investors into the market.
- New innovations in watch making have brought a lot of attention to this industry.
- Many luxury watch makers are releasing limited edition timepieces causing a lot of buzz.
- The extravagance of many of the newly released watches have brough many more investors into the market
Of course, there could be any reason for a new collector to get interested in buying their first collectible watch. This year at Baselworld watch convention, great news about the industry emerged.
While a tough trading environment continues, the watch industry is holding up well – and even setting record sales. Baselworld 2012 followed an excellent year that saw 29.8 million watches exported, representing a total value of $21 billion (CHF 19.3 billion). Since demand for luxury products continues to increase and the potential of certain emerging markets, including Asia and the Middle East, growth will continue. While it is always difficult to anticipate results, this 40th edition of Basel should easily surpass the $22 billion (CHF 20 billion) export threshold and represent a third consecutive growth year.
Whether you are a seasoned watch aficionado, or just getting your feet wet, the best advice for collecting watches is to go for luxury timepieces that truly move you. It doesn’t matter if you love the understated simplicity of amazing watches or are attracted to more flashier items. If you fall deeply in love with a particular watch chances are that many other watch collectors will have the same draw to your particular favorite.
