FREE QUOTE in a minute
The outbreak of COVID-19 was expected to decrease the luxury watch sales both in the retail and second hand market. But fortunately, the pandemic could not significantly influence the high-end watch market by reducing their sales across the world.
Thanks to the digital marketing and online channels, it boosted online sales dramatically than ever before.
Luxury watches are available in stainless steel, platinum, and gold and also may come with a rugged coating for durability in harsh conditions.
However, they are not immune to the pandemic situation. Eventually, the overall exports of Swiss watches decreased by nearly 81.3% in April.
But the interesting fact is:
The grandeur, value and appeal of these high-end watches continued to prove influential, even during the lockdown time.
All these factors distressed the watch sales this year.
Although consumers were now more vigilant about spending because of COVID-19, Chinese dealers continued to sell watches online to especially local customers in the UK and the US.
However, at a time when Swiss watches’ exports were smashing into a low in April, British luxury watch dealers reported that they experienced a boost in the sales by about 82%.
Nearly 80% of their businesses come from domestic customers rather than passing traders or tourists.
It is further reported that –
Customers during the lockdown began shopping online from 8 a.m. till 10 p.m. And the scenario was the same every day.
Moreover, some watch specialists also stated that the level of conversion is much higher worldwide.
However, besides the watch, the demand for fine jewellery also remained virtually the same. This is mainly because both watches and jewellery typically retain their value well over the years.
Thus, they continue to be a wise investment for consumers who can afford them.
Well, many essential factors like the rarity, value and durability are keeping the sales of luxury watches buoyant even in this atypical year.
Whether it is in the retail or the pre-owned watch market, online platforms significantly boosted the watch sales during the crisis time.
Unlike any other luxury items, the watch industry has hardly suffered from severe damages due to COVID-19. However, the pandemic has significantly influenced the dynamics of the luxury watch businesses.
While the physical stores were closed, many brands like Vacheron Constantin and Panerai went online immediately to keep the sales up, communicate and forge a closer tie with customers.
Moreover, leading watch retailers and also, second hand watch dealers accelerated their digital investment. They made substantial efforts to upgrade their websites to boost online watch sales and reach more customers.
However, are you looking to sell your watch for the best price? Fill up our online form now to get a free valuation.
Luxury watches of brands like Rolex, Cartier and Omega are globally accepted status symbols.
They are some of the most sought-after timepieces out there.
However, the higher demand paves the way for the counterfeit market. And, the market is indeed booming today.
Thus, it is foremost essential to verify authenticity before you buy or sell a watch.
In fact, when you plan to sell your watch, a potential buyer will verify your watch’s authenticity before making a price offer.
While the demand for luxury watches is increasing, counterfeiters are becoming more advanced.
A fake watch may appear authentic with all its convincing capabilities.
It can be pretty tricky for an untrained eye to spot the differences. However, don’t fret!
Fortunately, some easy tricks can tell you right away whether a watch is real or fake. Let’s take a look!
A genuine luxury watch is made up of precious metal. Thus, the timepiece will typically feel more substantial.
On the contrary, a counterfeit watch is crafted of cheaper materials, making it significantly lighter in weight.
High-end watch manufacturers use superior quality materials and instruments to design a watch.
All letters, markers or any engravings on a luxury watch are clear and legible.
If you find any letter hard to read or the finishing being slightly off, then you are probably dealing with a fake watch.
Hold your timepiece against your ear. Now, listen carefully. Do you hear any sound?
A luxury watch like of Rolex is made with hundreds of tiny, precisely designed moving parts.
Thus, the second hand moves so smoothly that it produces no ‘tick’ sound.
Fine watches are fitted with precious minerals like sapphire.
On the other hand, fake timepieces use mineral crystals for covering the watch’s face.
Here’s a quick tip for you:
Turn your watch on its side and check the colour through the clear casing.
Genuine watches that are made with sapphire flaunt a violet tint.
All engravings on an original watch will be precisely cut and not look deformed or sandy. They should be crisp and sharp.
However, a fake watch will display anything other than transparent engravings.
Sometimes, a fake watch can be easily spotted by comparing it with another similar watch. But others may require a trained eye to verify their authenticity.
If you want to check the authenticity of your Rolex watch, you may take it to any trusted watch buyers who buy authentic luxury watches.
While a professional watch dealer will certify your watch’ authenticity, he/she can also offer you an accurate valuation.
Thus, for those who are wondering “how to sell my watch” to a trusted watch buyer, here’s a simple step to follow:
Fill up our online form and get a free valuation shortly.
Omega has finally announced the introduction of the new watch that James Bond will wear in his upcoming film ‘No Time to Die’. The new Seamaster 007 Edition watch is made on the base design of the latest Seamaster Professional.
The watch features the same brown, black and red colour scheme. However, the brand has upgraded the new model using exclusive vintage-look details.
Today, let’s take a closer look at the Omega Seamaster Diver 300M 007 Co-Axial Master Chronometer that Daniel Craig will wear while playing his role as the famous spy.
Omega Seamaster has been flaunting the wrist of James Bond since the film ‘Goldeneye’ in 1995. While James Bond and Omega have been partners since 1995, the brand launches a new Seamaster for every Bond film.
This time, Omega has made a unique and rugged Seamaster 007 Edition for the upcoming Bond film ‘No Time to Die’. It is indeed one of the coolest ‘007’ timepieces Omega has ever produced.
The dial of the newest Seamaster Diver 300M features an external minute ring.
Interestingly, the dial has an arrow-marker above the 6 o’clock position. It recalls the period of the first-ever Bond movie – ‘Dr. No’ in 1962.
The new Omega Seamaster 300m watch sports two big hands for the minute and hour along with a lollipop ‘red-tipped’ pointer counting the seconds. Now:
Omega has fitted the brand’s Calibre 8806 automatic movement inside the watch that powers the hands.
With a tropical patina on its numerals and markers and a 42mm titanium case, the new Seamaster Diver 300M offers a retro look.
Omega released its first Seamaster 300M Diver watch in 1993. However, the early Seamaster versions exhibited in the Brosnan Bond films are classic choices among the ‘007’ fans.
Moreover, the watch features an exclusive new-domed sapphire crystal. This makes the watch slimmer in comparison to the usual Seamaster Diver 300M models.
When it comes to the watch’s case-back, it flaunts a series of numbers. There is a naval code-number ‘0552’; followed by the numbers ‘923 7697’ that indicate a diver watch.
Then, the alphabet ‘A’ denotes a screw-in crown, followed by the famed numbers ‘007’ and then, the final number ‘62’ referring to the debut year of the first Bond film.
However, the new watch comes with a patented Naiad Lock case-back system to keep the carved section in proper alignment. While the Bond film ‘No Time to Die’ will hit theatres in April 2020, Omega will release the new Seamaster 300M worldwide to authorised dealers in February.
Are you looking to sell watches in London? Fill up this online form and get your free price quote immediately.
© 2022 The Luxury Hut is a trading name of Golden Cash Limited. Authorised and regulated by The Financial Conduct Authority for pawnbroking. Registered in England as Golden Cash Limited. Registered Number is 07309335. Registered office address: Treviot House, 186-192 High Road, IIford, Essex, IG1 1LR.
Developed & SEO by Estie Web Solutions.