Member Article

As Recession Looms, Luxury Watch Resale Market Booms

Luxury watches are a timeless and coveted accessory, often symbolizing status, wealth, and sophistication. In recent years, the market for luxury watches has grown significantly, with brands such as Rolex, Omega, and Patek Philippe leading the way. Britain has seen a rise in the luxury market, often referred to as leading in the services industry within the finance sector, luxury watch dealers such as Local Kettle Brothers UK have seen a spike in sales with the ever increasing resale market with brands such as Rolex being inaccessible to buyers without significant brand loyalty and previous purchase history.

One of the reasons for the popularity of luxury watches is their perceived value. These watches are often made with high-quality materials, such as gold, platinum, and diamonds, and are crafted with intricate attention to detail. They are also made to last, with many brands offering warranties and maintenance programs to ensure that their products remain in top condition. Another factor contributing to the appeal of luxury watches is their exclusivity.

Many brands only produce a limited number of each model, making them rare and sought-after items, brands such as Rolex for example require their customers to purchase several ‘entry’ level models before trying to purchase something like a Daytona. This exclusivity adds to the prestige of owning a luxury watch, as it is seen as a symbol of status and success. This is why brands such as Local Kettle Brothers UK are becoming more and more popular, they have been equipping celebrities such as Derek Chisora with the latest timepieces, and showcasing their clientele on their various social media channels such as Instagram and TikTok.

One of the benefits of luxury watch resale is the potential for financial gain. Luxury watches are known for their ability to hold their value over time, and in some cases, even appreciate in value. This makes them an attractive investment, and those who purchase them with the intention of reselling them later can potentially turn a profit. While the price of these watches can be steep, they have a history of holding their value over time. Especially sought after brands such as Richard Mille, Patek Philippe and Rolex.

Founder of Kettle Brothers, F. Quarm stated that:

“advantage of buying from someone like us is the availability of a wide range of brands and models. From classic and iconic brands like Rolex and Omega to newer and lesser-known brands, there is something for everyone. This allows collectors and enthusiasts to build a diverse collection or to focus on a specific brand or style.”

Founder (F. Quarm) was diagnosed with kidney disease whilst running the business, was placed dialysis for 3 years 8 months whilst awaiting a kidney transplant. This catalysed his charitable works throughout the years such as working closely with Kidney Research, providing opportunity to homeless people and donating books to various children’s charitities such as Great Ormond Street Hospital. This has inspired F. Quarm to expand his operation, which has now seen huge celebrity clientele who are seeing investment in luxury watches return great profits.

It is important to note that not all luxury watches are equal when it comes to resale value. Some brands, such as Rolex and Patek Philippe, have a reputation for consistently strong resale value, while others may not hold their value as well. It is important for those looking to buy or sell a luxury watch to do their research and understand the market value of the specific brand and model they are interested in.

Overall, the luxury watch resale market offers a range of benefits for both buyers and sellers. From the potential for financial gain to the availability of a wide range of brands and models, it is an exciting and dynamic market to be a part of.

This was posted in Bdaily's Members' News section by Joanna Gierhart .