Time waits for no man (or woman) - Juels Limited News Article

Time waits for no man (or woman)

The luxury watch market has been volatile to say the least over the past few months but at least it appears that the industry ship is now back in calmer waters.

Taking the luxury watch brand of Rolex as an example, the recent Rolex price rise was targeted specifically at the UK due to the collapsing value of the pound in relation to other markets; it was an event similar to what occurred in 2016 where a similar collapse of the pound followed the Brexit referendum.

The leading luxury watch brands were slow to change their prices correspondingly. The result was that the UK unintentionally became a haven of cheap watches for several years. It’s understandable that leading luxury watch brands want to avoid a similar situation again, which is why their reaction to the pound dropping has been swift.

The recent turbulence in the investment market produced some unpredictability in the sale of pre-owned luxury watches. With daily fluctuating prices, it now appears to be on a settled footing once more. Watch brands such as Rolex and Patek Philippe witnessed a slight decline in their value recently, however this appears to have passed and stability reins once more.

Rolex dealership prices have increased by around 4% at the outset of 2022. But now Rolex are increasing their prices again, this time by between 4-7%. Some specific price rises include the 124060 Submariner no-date going from £7,150 to £7,500, a 4.9% increase. However, a more extreme increase of 7.1% has been implemented for the 126720 Pepsi GMT Master II on Jubilee bracelet which goes from £8,400 to £9,000.

Repeat customers of prestige brands go on a waiting list for upwards of five years for specific watches – and supply and demand means these luxury watches can sell for 250% more than their original recommended retail price. As demand far outstrips supply the pre-owned market is again flourishing; some sports models are selling for double their dealership price.

Here at Juels’ Limited we have been fortunate enough to acquire many desirable models including Rolex, Patek Philippe and Audemars Piguet. We are also able to deal directly with a leading trade to trade watch specialist who has been able to procure watches that are on a lengthy waiting list from the main specialist dealerships.

If you are in the market for a luxury watch, want to trade in a watch or simply have one to sell we are always on the lookout to buy luxury brand watches of any age and condition.

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