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Is The 2022 Watch Market Unsustainable? Find Out.

July 1st, 2022

Have you heard the saying, ‘What goes up must come down’? Well, we are currently experiencing such a graph in the watch market, which is beyond anything anyone had expected. One thing that everyone can finally agree on is the volatility in the watch market.

luxury watch market

The year started with a boom in the industry where the prices of expensive luxury watch brands like Rolex, Patek Philippe, Audemars Piguet and others rose unimaginably. However, in recent months everything appears to have had a splash of cold water where the prices are steadily swinging down. Even faster than it went up!

If you’re an avid watch lover, you must have heard the story of artificial shortages and the grey watch market. Given the current circumstances, it is safe to presume that a perfect storm is brewing between external factors like inflation in the global market with internal factors like artificial scarcity and secondary watch market investors. We shall discuss this in the later section.

At a glance, everything might sound bad and devastating. This is because many had invested in luxury watches like Rolex, which are now down by approximately 5%. But amidst all the chaos, there is one segment that is benefitting.

Who is drawing benefits from the current fall in the watch market?

Collectors who were patient for 3-4 years are finally benefiting from this unprecedented fall. They are in the best position to buy watches like Rolex, AP and Patek Philippe, which otherwise seemed farfetched.

An average watch collector can now visit authorised watch shops or purchase pre-owned luxury watches at a feasible price.

Isn’t it funny how history repeats itself? As always, everything eventually corrects itself after a certain time.

The craze in the watch market was at its peak at the beginning of 2022. Some of the popular stainless steel Rolex timepieces were selling almost triple or double the retail. As for Patek Philippe, buyers were willing to offer 5/3 times the retail value to buy the stainless steel models.

Hence, the price fall indeed makes it a good time for enthusiasts and collectors to buy their favourite models.

Now, let’s explore the various reasons that have contributed to such an impact on the watch market.

What factors led to the fall of the watch market in 2022?

The combination of various External & Internal forces led to this situation. Here we’ve summed up both.

EXTERNAL FORCES

In our opinion, the following are the external forces contributing to the fall of the 2022 watch market:

1. STOCK MARKET

The confidence to buy an expensive Rolex or Patek Philippe comes only when you are secure about your financial situation. When the value of portfolios is severely declining for most people in the stock market, deciding to buy a stainless steel Rolex with a large sum of money becomes pretty impossible.

So, we believe that the condition of the Stock Market is playing a big external reason in the downfall of the watch industry.

2. GOVERNMENT RULES

During the pandemic, the government imposed strict restrictions across all nations. People couldn’t travel for vacations which meant that all the extra money was accumulating in their bank accounts. Hence, they evidently spent money on purchasing luxury goods.
However, now that the government restrictions are no longer applicable, people are travelling again. This is resulting in a decrease in the demand for luxury watches.

3. INFLATION

A person’s ability or power to spend plays a role when choosing between needs and wants. As inflation goes out of hand, currency’s value is less worthy. So, the choice between need and want becomes quite clear. In today’s watch market, inflation is playing a big role.

4. FINANCIAL RELIEF PROGRAMS

The various monetary relief programs gave away free money to many people who weren’t really in need. This portion doesn’t include those who desperately needed it but that larger segment of people who received the relief funds unnecessarily.

All that free extra cash resulted in inflation, including in the watch market.

INTERNAL FACTORS

Here’s a list of the Internal Factors that caused the 2022 Watch Market to fall:

1. STAGNANT SUPPLY

Since the start of 2022, you must have heard about big brands creating artificial shortages. Watch shops, jewellery stores, and other outside investors were doing the same that is restricting the supply of several popular watches. This must get you thinking about why someone would do that intentionally?

The reason is to maintain the watch demand by restricting their supplies. If a model is restricted, the prices will rise with the hope that the watch is now rare and can be considered an investment timepiece.

However, in reality, watch dealers were doing it to increase the prices. As a result, the prices of stainless steel watches increased threefold in various authorised watch shops. Now that the prices are decreasing, the dealers are trying to release their inventory.

So, naturally, the prices are getting low.

2. OUTSIDE INVESTORS

During the lockdown and pandemic situation of 2020, several investors were looking out for alternative places to gain a stable return on investment. As people weren’t allowed to spend money in other ways, the luxury goods market became a lucrative sector. Many outside investors who so far didn’t care about the watch fraternity invested in it, hoping to draw some profitable return.

Now that the market has fallen, the outside investors face a serious drawback and may have to give up on their inventories to minimise the losses or tackle the upcoming obligations. This typical economic behaviour is leading to the falling prices of the watch inventory.

After having said the factors leading to this steep fall, it’s time to conclude. Do you think this is a bad or a good thing? Let’s find out.

Why the crash of the watch market in 2022 is a ‘GOOD’ thing?

Yes! Not every fall is bad, and the steady fall of the watch scenario is good because the increasing prices were not sustainable. Collecting luxury watches turned into investing, which in turn escalated the prices. All this made it further difficult for an average collector or enthusiast to buy the watches they wanted without waitlists and an inflated price.

Therefore, from their perspective, they much needed this crash. We can all go back to collecting and purchasing luxury watches smoothly.

Will the watch prices continue to fall?

Honestly, seeing the graph and how things are heading, you can expect a fall in watch prices in the next few months. However, in the long term, you can expect brands like Rolex, Patek Philippe and Audemars Piguet to resume their depreciated value, even if it is slower.

So, hold on until things get a little better if you want to sell your investment timepiece.

CONCLUSION

The resale market of luxury watches has been on fire since early 2022. The market required drastic correction, which finally happened with the sharp price fall. Various factors have contributed to this outcome. We have mentioned them all above.

Even though the collapse takes a toll on the investors, it is a great period for collectors and enthusiasts to buy the watch they love at a reasonable price. This is our prediction and our take on the situation. However, there will always be a market for used luxury watches, and the secondary market will always help buyers get their desired models!

You can check out The Luxury Hut’s vast collection of pre-owned luxury watches, including brands like Rolex, Patek Philippe, Audemars Piguet and others, available at great prices. Maybe you will end up finding your dream watch at an unmissable price!

Also Read: Rolex Watches Go Missing From Shelves, What Is The Reason?

Timeless Story Of The Jaeger-LeCoultre Reverso

March 25th, 2022

Let’s just say that everything the brand Jaeger-LeCoultre is today, owes it to the ‘Reverso’. The Reverso is one of the most popular and iconic creations by Jaeger-LeCoultre that sports an inventive and exciting watch design. Collectors and enthusiasts highly regard the watch as a great investment piece that can fetch a hefty amount when you sell Jaeger-LeCoultre watches in the pre-owned market.

sell jaeger lecoultre watch

But before we tell you how good and grand the ‘Reverso’ really is, let’s start with a brief history.

History Of The Jaeger-LeCoultre ‘REVERSO’

It all started back in the 1930s when the British Army officers residing in India faced problems with their broken wristwatches during the polo tournaments. To avoid breaking the watches while playing the game, the Army officers went to a watch trader named Cesar De Trey and asked him to create a watch that would be safe while playing polo.

Trey discussed the event with Jacques-David Coultre (former owner of the LeCoultre manufacture) and teamed up with Jaeger S.A. to develop the world’s first sports timepiece – The REVERSO!

The result of the collaboration was exceedingly impressive as the masterminds used a reversible case instead of a protective grill that made history. The case showcases the case back. This innovative feature allowed the polo players to use the reversible while playing polo, safeguarding the watch dial and the delicate crystal.

Spectacular & Innovative Design Of The ‘REVERSO’

Elegant yet sporty, the Jaeger-LeCoultre Reverso combines the best of both worlds (dress + sporty) to impress a vast audience base. The typical rectangular shape of the watch makes the Reverso easily recognisable and has become synonymous with the luxury watch brand. You can wear it with both a tuxedo and casual shirts.

In 1931, LeCoultre designed a watch with approximately 30 parts that were flexible enough to completely turn around using the pins, grooves, and a locking mechanism. This feature allowed the case’s central part to rotate almost 180 degrees. The original Reverso model came with a case diameter of 38mm by 24mm by 6mm, and the dial featured dart-type indices, baton hands, and Arabic numerals.

All these features collectively made the Reverso a hit in the watch market.

Additionally, you can also customise the watch with engraving and lacquer, making it even more appealing.

Even though the watch’s design meant practical usability, Reverso’s classic aesthetic and JLC’s excellent craftsmanship made it stand out for its exceptional creativity, originality, and other extraordinary features. Whether it has engravings, lacquer, miniature paintings, gemstones, or enamel, the Reverso indeed stuns the audience with its unique qualities that represent the very best of Jaeger-LeCoultre.

Rising Popularity Of The ‘REVERSO’

The popularity of the Reverso went increasing far and wide. To acknowledge this fact, LeCoultre developed a new movement for the watch after two years, the Calibre 410.

Two very significant Jaeger-LeCoultre Reverso watches designed during this time was:

  • The Maharani Reverso in 1936
  • The Reverso from 1935 made to honour Amelia Earhart’s flight from Mexico to New York

Soon enough, World War II struck the world. As a result, the growing popularity of the JLC Reverso watches came to a halt. And then came a time when round shaped watches outclassed the loved square-shaped Reverso watches.

By the 1970s, the model even fell out of production, and the following two decades witnessed immense popularity of the Japanese Quartz watches.

But things changed in 1982 when the JLC Reverso made a hitting comeback with the Quartz Calibre 601. Things took a positive turn, and in 1985, the brand produced its first water-resistant Reverso case. Soon the Reverso gained momentum to attain its position as a strong contender in the 1990s.

In 1991, JLC launched a new edition of Reverso to celebrate its 60th-Anniversary. The watches featured new movements, bigger case sizes, and complex complications. The list of the ‘Firsts’ includes:

  • Tourbillon watch in 1993
  • Minute-repeater watch in 1994
  • Retrograde Chronograph in 1996
  • Perpetual Calendar in 2000

Jaeger-LeCoultre ‘REVERSO’ In The Modern Era

Jaeger-LeCoultre is a brand of multiple innovations, and it continues to introduce new collections with innovations even in the new millennium. For example, in 2009, the brand was the owner of two notable awards in the 21st era’s first chronometry competition.

Over the years, Jaeger-LeCoultre has showcased its masterwork with several timepieces, including:

  • Gyrotourbillon 2-2008
  • Tryptique- 2006
  • Quadriptyque-2021

Additionally, JLC is the proud innovator of some of the most stunning watch pieces like the Ultra-Thin Tribute & the Duoface. Both of which retain the essence of the original.

Jaeger-LeCoultre ‘REVERSO’ Watches For Investment

Even simple Reverso watches look gorgeous. Additionally, after 90 years of their existence, the watches receive the same love from enthusiasts and collectors alike. If you intend to buy one from an investment perspective, below is our list of all the Reverso watches that will gain you an impressive amount when you sell Jaeger-LeCoultre watches to reliable watch buyers in London.

Top 4 JLC ‘Reverso’ Watches To Invest Are:

1. Reverso Classique Ref. 250.8.10 (Year: 1931)

A slim and sleek watch with neat and distinctive lines differentiates the Reverso Classique from the rest. The watch appears pretty uncomplicated. This is one of the main reasons the watch has undergone constant refinement for 85 years. The Reverso Classique is also the only watch from the entire JLC catalogue to offer an option with the Quartz movement.

If you intend to purchase a JLC in a fairly moderate price range, this is the one! After all, one must hang on to the ‘Classiques’ for as long as possible.

2. Reverso Sun & Moon Ref. Q2753470/ 270.3.63 (Year: 1999)

Do you want a watch that quite literally turns all heads? The Reverso Sun And Moon, featuring a scratch-resistant sapphire dial featuring the moon’s various phases as a clear indicator of day/ night, is a watch to behold. The Sun and Moon come with a case of either pink or yellow gold or stainless steel. If you aren’t a huge fan of metal bracelets, you can also opt for the leather strap.

3. Reverso Squadra Chronograph Q7018120/230.8.45 (Year: 2006)

A little wider than it’s fellow mates, the Squadra holds more space for incorporating more complications. To your surprise, the Reverso Squadra was the first watch to sport a square dial, but unfortunately, its patent got rejected. Moving forward, Rene-Alfred Chauvot designed the Reverso case in 1931.

4. Reverso Duo Face Day Night GMT Ref. 270.1.54 (Year: 1994)

The Duo face comes with a second dial that shows a different time zone, allowing the wearer to adjust it easily. On the other hand, the traditional plain black option enables you to include engraving. This is the kind of watch you can both during a polo watch and any formal gathering.

FINAL WORDS

Despite its vast range of complications and changing functionalities, the JLC Reverso has always maintained its perfect symmetry of form and practicality. This gives the watches a timeless appeal. As the name suggests, the’ Reverso’ allows reversal of the case to present the best form of functionality. It is one of the most iconic and innovative watches in history. It even makes for a great investment timepiece that will secure a good amount when you sell Jaeger-LeCoultre watches in the secondary market.

Deal with London trusted watch buyers, The Luxury Hut, to secure the best competitive price for your JLC watch. Call them on 0207 242 9160 for more details.

Also Read: ‘Jaeger Lecoultre’- All About The Revolutionary Watchmaker

Why Choose Us as Your Trusted Pawnbrokers in London?

June 1st, 2021

Have you run out of money? Need some fast cash? No worries, you can get the amount of money you need within minutes by getting in touch with the trusted pawnbrokers in London at The Luxury Hut.

In difficult or uncertain times, like the current pandemic situation, you may need some fast cash to pay off your electric bills, medical bills or maybe for any other reasons. And in a financially dire situation, pawning your precious asset is ideally the best choice that you can make.

pawnshop london

The Luxury Hut pawn shop London offers a quick and secure way to pawn luxury assets & get instant cash. We lend against luxury watches, diamond jewellery and gold. With our expert evaluators always on hand, we ensure to make the pawnbroking process more convenient than ever.

So what are the advantages of choosing us as your trusted pawnbrokers? Continue reading below to find it out.

Fast & simple way

With trusted pawnbrokers London at The Luxury Hut, you can obtain a cash loan within a few hours. To begin the process, all you have to do is fill in our simple online form. Provide us with all the details of the item you want to use as collateral for your pawn loan. Or you can call us on 0207 242 9160 straight.

We will evaluate your item based on the details provided and give you a free competitive loan quote. If you are happy with it, send us your asset or visit our office in Hatton Garden London via appointment.

We will make you our final cash loan offer. Accept it, sign a pledge receipt, and we will pay you immediately via bank transfer or any other preferred method of payment. The entire process requires much less paperwork.

Whether you pawn your asset online or via appointment, the process may take as little as a few hours to complete.

No credit checks, no obligations

We do not carry out any credit check before lending money against your collateral, nor we have any other obligations to get a pawn loan.

Get a loan against your Rolex watch or any diamond or gold jewellery without any hassle. We will offer you the highest possible amount of cash loan, based on your collateral’s age, condition, current market price and a few other essential factors.

You may only need to provide us with proof of ID to get into the transaction. However, another significant factor that makes The Luxury Hut the best choice as the most trusted pawnbrokers in London is –

Unlike other pawnbrokers, we do not charge set-up fees for any assets pawned with us.

Get a contact-free home collection

At The Luxury Hut, we always strive to make the pawnbroking process straightforward and hassle-free as much as possible. We provide a contact-free home collection to all our customers.

You can send your asset(s) to us from the comfort of your home or anywhere using our contact-free home collection and a fully insured shipping label.

This means that pawning your luxury watch/jewellery online and securing extra cash is now more convenient than ever.

Retrieve your collateral anytime

The maximum pawn loan tenure is six to seven months. However, you can redeem your item(s) any time before your loan term ends by paying off the original loan amount and the interest due up to that day. We do not charge any early retrieval fees.

Want to know more about our interest rates or how our loan process works? Call us on 0207 242 9160 now, and we will be happy to answer any queries you have on pawning your asset with us.

Or, if you want to get a quote for a loan against watches or jewellery, fill in our simple online form today.

The Most Popular Rolex Watch Is Also the Most Underrated

April 4th, 2019

If you ever ask a Rolex aficionado what the most popular Rolex watch is, he/she is likely to say ‘Rolex Submariner’. However, it is ideally not the Submariner but the Rolex Lady Datejust. The Geneva-based Swiss manufacturer does not prefer to outburst its sales figures or official production. But many persuasive sources confirm that the Rolex Datejust for women outgoes all other Rolex models. However, the interesting fact lies here:

Most Popular Underrated Rolex Watch

Despite being the most outselling model, the Rolex Lady Datejust is one of the most underrated watches of the brand in the secondary market. Why? Let’s today explore some of the probable reasons behind this fact.

The Second Hand Rolex Ladies’ Watch Market

When shopping for a pre-owned Rolex Lady Datejust, you will be delighted to see how well-priced these watches are. While it is usual to find used steel Lady Datejust timepieces below £2,276, the full gold editions typically come for under £4,551 and bi-tone versions for less than £3,034.

Thus, if the Lady Datejust outsells other watches at retail, why are they underrated in the second hand market?

  • The Rolex Lady Datejust is the must-have ladies’ watch in the market. Thus, it is known to be the best selling Rolex watch at boutiques.
  • Moreover, Rolex Datejust is a status symbol that comes in a classic design and bevvy of flavours, making it an easy choice to opt for.

Besides, ladies’ Rolex timepieces typically run on automatic movements. And, for some people, it is a better recommendation in comparison to purchasing expensive quartz luxury watches for women.

  • Women typically possess one or two go-to luxury watches rather than a huge collection. The reason is quite simple:

Women tend to also spend on other fine accessories such as bags, shoes and jewellery.

  • Men are generally more interested in mechanical timepieces compared to women. And, if this is true, it is quite natural that trading of pre-owned men’s watches will be more than used women’s timepieces.

So, this can be a probable reason why the value of a second hand Rolex Datejust remains on the lower end of the spectrum.

  • Moreover, the Second hand luxury watch market is targeted heavily towards men.
  • While inventory, content, forums and media revolved around the pre-owned watch market are indeed male-oriented, women’s timepieces often are merely an afterthought.
  • If you flip through a popular fashion magazine, you will find many advertisements, exhibiting new exquisite ladies’ watches of the world’s leading high-end brands.
  • Eventually, if a woman decides to purchase a luxury watch, getting hands on one from a boutique would ideally be her first choice.

Regardless of whether these speculations are correct or not, it is true that Rolex Lady Datejust models are at present one of the most underrated and undervalued watches in the second hand luxury watch industry.

Sell Rolex Watches Easily and Quickly For the Best Price

For those who are looking to “How can I sell my Rolex watch“, get in touch with the most trustworthy watch buyers in London, The Luxury Hut.

Here at The Luxury Hut, you can sell Rolex watches in three simple steps and get paid right away without any hassle.

  • Fill up the form – All you have to do is fill up our online form, providing all details of your luxury watch as much as you can and attach high-quality photos.
  • Get an initial price quote – Shortly after, you will receive your price quote.
  • Receive a final price and get paid – If you accept your price quote, you can either send your watch or book an appointment at our office in Hatton Garden, London. One of our associates will contact you soon by phone or email to confirm our final price offer. Accept it and get paid immediately.

5 Best Ways to Save Money for the Christmas Holiday Season

November 28th, 2018

Christmas is approaching fast, and it is undoubtedly the most beautiful time of the year. It is the time of celebration, relaxation, homecoming and opportunity to connect with family as well as friends. But, like many others, this holiday season can also be a stressful time of the year for you. Here’s the reason:

Christmas Holiday Season

While Christmas is the most awaited time for billions of people, it can certainly get costly. From buying gifts, foods, to arranging parties and travelling, people tend to spend a lot on Christmas preparations and gifts every year. And, it is no wonder that you may get a bit frazzled when checking your bank balance in the mid-December. If you are well-organised and plan everything, you can spend this holiday season stress-free, without worrying about affordability.

Here are five best ways that can help you to save money and also, make extra cash quickly, thereby getting your finances ready for the Christmas festive season:

  • Plan your budget

It is already November and Christmas seems to have already come around. Once we move into December, the big day can creep up without warning. Thus, plan your budget today, making a list of things that you are looking to buy for Christmas. While many people consider it as a firm way to cut their expenses, the fact is that planning a budget is more about making vigilant purchases and it certainly needs control along with discipline.

In a time when the shops and supermarkets are filling with Christmas decorations, lights, enticing sales and services, you can make fast decisions that may lead to hasty buying and consequently, overspending. Thus, if you are aware of it and make a budget, it can help you to prepare yourself wisely.

  • Keep track of your spending

If you want to stick with your budget efficiently, it is essential for you to track your expenses. The best way to do it is writing everything, right from your monthly rental costs to the cup of coffee that you may have purchased. While this may appear as an overwhelming work, you may be able to save a decent amount of money only in one month, thereby helping you to reach your financial goals for this holiday season.

  • Shop online

One of the best ways to save money for Christmas is shopping online. Long gone are the days when people had to wander around the shops for hours to get a perfect deal. Today, you can browse the internet and buy gifts online within your budget from the comfort of your home, avoiding the crowds and long queues at malls. Besides, shopping online is cheaper than shopping at the conventional brick and mortar retail shops as you can carve the parking expenses and also, often avoid the sales taxes.

Websites like The Luxury Hut offer amazing deals especially during the holidays on a variety of pre-owned assets. You will find an extensive collection of second hand luxury watches and jewellery like diamond rings, necklaces or pendants on sale. Whether a treat for yourself or a gift for a loved one, we ensure you will get your perfect luxury gift for an excellent price at the online store of The Luxury Hut.

Your experience of shopping online with The Luxury Hut can be memorable and more significantly, less expensive.

  • Sell your asset

If you are worried about your finances or want to raise extra cash for meeting your Christmas expenses, it may be the perfect time for you to consider selling your assets to any trustworthy pawnbrokers in London, like at The Luxury Hut.

The Luxury Hut offers a secure and convenient way to sell your pre-owned luxury watch and jewellery for cash. Whether you decide to ‘sell engagement ring’, ‘sell diamond’ or sell a Rolex watch online or via appointment, you will receive an accurate valuation and eventually, a competitive price when selling your valuables for cash at The Luxury Hut. We evaluate the value of any luxury asset accurately based on the current second hand market price.

You can sell your asset online in London or from anywhere in the UK to us right from the comfort of your home. The entire process, from getting a quote, sending your asset to getting paid may take as little as two days to complete. On the contrary, you can visit our premises in Hatton Garden, London (by appointment) with your valuables and get paid in cash right away. All you have to do is call us on 0207 242 9160 to make an appointment.

Nevertheless, we will make sure that the process is smooth, secure and comfortable for you. To get started, fill up our online form and receive your quote in less than no time.

Here at The Luxury Hut, we can help you to replenish your Christmas budget by buying your luxury asset for the highest possible price. Thus, you can concentrate on the things that honestly matter this festive season and enjoy your holiday utmost being financially prepared.

© 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.

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