Switzerland is reported to have experienced about 25.8% shrink in watch exports. According to the Federation of the Swiss Watch Industry (FH), this is a record-breaking decline in watch exports over the past 80 years.
Indeed, it is grievous news for the watch industry. However, keeping in mind the global pandemic, it is pretty obvious to have almost-ceasing international flying and watch fairs’ cancellations.
On the other hand, the market for vintage and pre-owned watches is significantly blooming. The record-breaking auction results and massive sales fascinated the watch industry. Prices for vintage Rolex timepieces are continuing to stay strong as ever.
However, it is interesting to see a steep rise in watch prices of many other brands. So given the global pandemic situation, why the vintage watch world is thriving so much today?
Here, find out the probable reasons, and if you are looking to sell your vintage watch, fill up our online form and get a free competitive quote now. While the vintage market is booming, your timepiece is likely to secure you top prices.
1. Vintage watches are seen as a safer investment
Many collectors typically consider vintage timepieces as a safer investment than the contemporary ones. These watches are discontinued at least for a few decades and thus, are limited in numbers. This attracts the collector’s attraction.
Moreover, finding a popular vintage watch edition in good condition becomes more challenging with every passing year. This again signifies rarity and eventually, increases the appeal.
2. More free time to research on timepieces
Due to the global pandemic, the government has to put restrictions on travelling, entertainments, dining and all gatherings. Consequently, watch collectors or enthusiasts get some more free time to research, gather details and explore the vintage watch world.
Gaining knowledge is an essential part of the watch collecting process. The more time you spend on knowing vintage timepieces, the more it will lure you to them, leading to more models on your wish-list.
3. Enough money to spend on legacy models
Along with exploring the vintage watch world's catalogue, many individuals are lucky enough to continue having a stable income, working from home or otherwise. However, with the restrictions on outing and entertainment, people have only a few opportunities for spending expendable money.
And a watch enthusiast will always wish to invest on a cherished watch with that cash and upgrade or build his/her collection.
4. The hunt for the unique remains
Vintage watches have a unique and compelling appeal that lacks in a brand new or contemporary models. Current Rolex watches look like any other, and their design is likely to be the same in the coming years. Indeed, the watchmakers have improved their watches’ quality and several complications over the years. For example, the dial manufacturing and engraving process has changed.
So you will not find tropical dials with font variations any more like ‘meters first’, ‘closed 6’ and ‘open 6’. However, these types of variations play a significant part of the appeal in the pre-owned and vintage watch market. And these variations are the driving factors behind vintage watches’ elevated prices.
Want to sell watches for instant cash? Fill up our online form or call on 0207 242 9160 for an instant valuation.
The Luxury Hut has expert evaluators who continually track the changing market trends and prices of luxury watches. We can determine a fair and accurate value of any second hand Rolex watches that customers want to sell. Thus, get in touch with us today to sell your watch for the best possible price, whether it is a vintage model or contemporary.
Related: 10 Iconic Vintage Rolex Watches Popular With Collectors
