Watches are in their finest hour
The resurgence of interest in mechanical watches among younger generations is evident, as they increasingly opt for luxury timepieces from brands like Rolex and Cartier, often bypassing traditional boutiques in favor of a flourishing online secondhand market. This trend gained momentum during the Covid-era lockdowns when young consumers discovered the intricate world of horology. While the market for luxury watches experienced a bubble that burst in 2022, certain models have maintained their value, with the secondhand market expanding significantly and projected to grow further in the coming years, driven largely by younger buyers. In this evolving landscape, social media influencers play a pivotal role in cultivating a culture of watch collecting that transcends mere status symbols. Many affluent young buyers view luxury watches as alternative investments, with studies indicating that high-net-worth individuals in this demographic are more likely to collect watches compared to older generations. Despite fluctuations in the luxury goods market, some brands continue to thrive, while established watchmakers like Rolex are adapting by entering the secondhand market to protect their brand reputation and mitigate the prevalence of counterfeit products.
