While I was in Vegas last week, I overheard a guy say, “I wish I had just put all of my expendable income into watches over the last five years instead of the stock market. I’d be a lot better off today if I had.”
With all of these crazy price increases from the various brands taking place, there is no question that the value of previously-owned timepieces is going to go up. Breitling is joining the company of Audemars Piguet, Hublot and Ulysse Nardin by having their second price increase of the year tomorrow. Patek Philippe just announced that they will be following suit as well in a little over a month on July 15.
Earlier this week, I read an article about a guy in California looking for a way to raise enough money to send his son to UCLA. What better way to do so than to sell his used watches? In order to help send his kid to school, he listed his collection of 19 Rolexes on eBay to be sold in entirety. The auction started at $100 and was at $70,200 with over nine days left.
I have tried to track the auction over the last couple of days to see if we could witness another incredible eBay watch transaction, and I now see the auction has been terminated. Rumor has it that the auction was canceling for violating the TOS. Does anyone know the particulars? I would love to find out!
Either way, look for a big boost in the pre-owned watch market over the next six months. Believe it or not, new watches are becoming more expensive and less available!!! I would not be surprised to see or hear about more large vintage-watch transactions over the rest of the year.