[ad_1]
Prices for the world’s most exclusive watches are falling. However, some watch types are not keeping up.
Luxury watch prices continue to fall, according to Bloomberg. The Bloomberg Subdial Watch Index, which tracks the price trends of the 50 best-selling watch models, fell nearly 1% in June.
The index fell 8% last year and has plunged 23% in the past two years.
Swiss luxury brands such as Rolex, Patek Philippe and Audemars Piguet have experienced significant price increases during the pandemic as many people choose to invest their savings in expensive watches.
Read E24+
Here’s what you should know about ‘alternative’ investments
In the 12 months to June 2022, the Bloomberg Clock Index rose as much as 40%.
During the epidemic, many people have spare money because borrowing money is cheap and people no longer travel or eat out.
Scared away from the market
This led many Norwegians to start collecting watches. This also led to high prices for certain models both domestically and internationally. The skyrocketing prices are also known as a bubble. E24.
However, many investors are now being scared away from the market because stocks and other investments are offering much better returns, the news agency reported.
Despite the general decline in the watch market, some brands have seen price increases. According to Bloomberg, the index for Cartier watches has risen by nearly 2% over the past year as the French jewelry brand’s watches have become increasingly popular among collectors.
Norway sold
In Norway Luxury watches sold abroadSeveral watch enthusiasts told E24 that there is a clear trend in the second-hand luxury watch market, with people choosing to go abroad when selling their more expensive watches.
Due to the weak kroner exchange rate, selling abroad is more attractive because you can then receive payments in euros and dollars in Norwegian kroner.
[ad_2]
Source link
