lol. dont buy into the media B.S. there won't be any major pivots in trends. The demographics of people who can afford luxury watches remain largely unchanged. Lets do a breakdown of consumers of luxury watchesAny thoughts whether it will change the industry and to what extent?
sydney, london, Toronto and cities in US, singapore or even Japan There have been more and more developers showcasing their properties from these countries in HK.@apudabam - in which overseas locations are the HK wealthy seeking to buy new properties?
I agree, this will clearly be a headache for many of the companies in the industry. The only positive forces for prices are that some people may be using watches as a way to store or move wealth, and that the cut in production increases scarcity. Beyond that, all negatives.
I agree. I have no idea what to think. Some in these forums say that the high net worth folks will not be affected by COVID-19 and the market downturn. Consequently, they will continue to buy luxury watches and manufacturers/ADs will thrive--or that the very least keep their prices at current levels. With the brands like Rolex (and many others) forced to shutter their plants temporarily, it created a scarcity that will prop up prices in the short term.Thanks, it has been an interesting thread. I think the three years post Covid will not be kind to the industry.
High end watches would be the first thing to go for me, and I buy one a year. My net worth is likely to go down once the markets realize the economic impact, and apart from that, even if have the money, I think my focus on things other than watches.
I do not see this happening,.....If mid to higher tier manufacture's were to respond this way not only would they fail to cover their codid 19 losses they would be rolling the dice with their firm's solvency.Prices will rise cover C19 losses and then to cover decontamination efforts.
What are you planning on getting as your first high end watch?Being in the 99%, I have to save to be able to afford my first high end watch. I haven't bought it yet because I think it unwise to buy now. I was hoping certain market forces would depress pricing enough for it be justifiable. But with each passing week my argument for buying one becomes weaker. Obviously, the high end market won't miss my dollars. I'm not really their demographic, anyway.
However, it would be good to know if the next 6/12/18 months would be a good time to pull the trigger.