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The analysts observe that pricey watches end up being a desirable substitute for stocks. Luxury watches have outperformed conventional investment categories, particularly over the long run, according to the report's authors.
"Although prices have decreased in 2022 due to declining stock markets and the value of cryptocurrencies, a commodity like a watch has outperformed equities."
The statement is not always true, though; for instance, between 2012 and 2022, the S&P 500 index grew by 12% while the prices of pre-owned watches from the analyzed companies increased by 7%.
Sales of used expensive watch in 2022 hit $24 billion, while sales of new watches were $55 billion. By 2033, the used watch market will surpass the new watch market and hit an estimated $85 billion, according to LuxeConsult research firm.
source: bcg.com
"Although prices have decreased in 2022 due to declining stock markets and the value of cryptocurrencies, a commodity like a watch has outperformed equities."
The statement is not always true, though; for instance, between 2012 and 2022, the S&P 500 index grew by 12% while the prices of pre-owned watches from the analyzed companies increased by 7%.
Sales of used expensive watch in 2022 hit $24 billion, while sales of new watches were $55 billion. By 2033, the used watch market will surpass the new watch market and hit an estimated $85 billion, according to LuxeConsult research firm.
source: bcg.com
