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Publisher’s Corner

The Time is Right for Luxury journalofantiques.com

Pre-Owned Timepieces Publisher
Maxine Carter-Lome
journalofantiques@gmail.com
s any collector can tell you, luxury watches are much According to industry insiders, five Maxine Carter-Lome Business Manager
more than a means of telling time. They’re works of factors are driving the second- Jeffrey Lome
Ahigh craftsmanship, symbols of taste and status, and, hand market: jeffreylome@gmail.com
for many, investments that can hold their value and even 1. Limited quantities and speculations of discon-
Managing Editor
appreciate over time – as it turns out, even more so than the tinuation. The secondhand market is essential for collectors
stock market. who seek rare and special watches, given that nearly 95% of Judy Gonyeau
editorial.journalofantiques@gmail.com
Since the beginning of the pandemic, the secondary watches are no longer in production. Luxury watchmakers
market for select luxury watchmakers has seen tremendous only release a limited number of models each year. If a Art Director
growth in demand and valuations. In 2021, preowned certain model is speculated to be discontinued, in many Lynn Cotterman
watch sales reached $22 billion, accounting for nearly instances its price will skyrocket on the secondary market
Production
one-third of the overall $75 billion luxury watch market, (e.g. private sale and auction). Once a brand announces its
according to BCG.com’s recent report, “Luxury Preowned yearly offerings and a beloved model remains in production, Lynn Cotterman
Watches, Your Time Has Come.” (https://www.bcg.com/ its price will generally normalize. Judy Gonyeau
publications/2023/luxury-watch-market-trends). Based on 2. Buyers are impatient. As the market of watch
Jill Montague-Kaitbenski
auction results from the first half of 2023, interest in and buyers grew and watch manufacturers faced supply and
the market for pre-owned luxury watches continues to be production issues during the height of the pandemic,
strong. Take a look on page 24 at some of the more demand for luxury timepieces far outstripped supply. This 508-347-1960
head-turning auction results so far from this year. resulted in longer lead times and waitlists. Eager collectors Toll free:
While sky-high auction prices for brands such as have turned to the secondary market, giving it a tremendous 888-698-0734
Rolex and Patek Philippe are of interest to collectors and bump over the last three years. In some instances, coveted
Fax: 508-347-0911
horologists, the market for pre-owned luxury watches has or recently retired models have sold for more than triple the
Mailing:
also opened the door for other luxury watch brands, most retail price.
P. O. Box 950
notably Cartier, Jaeger-LeCoultre, Omega, TAG Heuer, 3. The Internet keeps a pulse on the market.
Sturbridge, MA 01566
and Vacheron Constantin, to enter their timepieces into Today, collectors have the advantage of watching the

this hot, in-demand luxury resale market. It is even leading secondary market and trends on platforms such as
to collector interest in and valuations for such independents Chrono24, WatchBox, Watchfinder, and Hodinkee, they journalofantiques@gmail.com
as F.P. Journe and De Bethune. can also see auction house results, like Christie’s, in
Watchmaker F.P. Journe is a relative newcomer to the real-time online. UPS and FedEx
Shipping Address:
luxury watch market (est. 1999) but caught collectors’ 4. Investors looking for alternative investments.
113 Main Street, Unit 2
interest in 2021 when an F.P. Journe watch passed the $2 Wealthy investors are increasingly looking to diversify their
Sturbridge, MA 01566
million mark at auction for the first time. In a business that portfolios and to hedge against inflation. For these and
prides itself on craftsmanship, F.P. Journe makes 95 percent other investors, luxury watches stand out as a class of Journal of
of its own components. This devotion to the craft, coupled alternative assets because of the strong demand for them Antiques and Collectibles
with the fact that it creates fewer than 1,000 watches and because they have generally delivered strong price is published monthly in digital
each year, has made the brand highly sought after among performance in the market over the past five to ten years. and quarterly in print by
high-end collectors and on the secondary market. 5. Star Power. Athletes and celebrities are raising the Weathervane Enterprises, Inc.
According to the Financial Times, the saleroom price of profile of luxury pre-owned and new watches and the 113 Main Street, Unit 2
certain models by the independent Swiss watchmaker had hot brands to look for, becoming the new collectors and Sturbridge MA 01566
risen eight-fold in just four years. influencers in the market. Examples include Roger Federer
While avant-garde watchmaker De Bethune is and his Rolex Daytona “Orange” in yellow gold (retail Periodicals postage paid at
well-known among watch aficionados for crafting both value: $86,750); James Harden and his Patek Philippe Sturbridge MA

impossibly modern and technically advanced timepieces, Nautilus Tiffany 5711/1a (valued at $6.5 million at
the brand received a huge bump in attention last year when auction); and Christiano Ronaldo and his Girard Perregaux POSTMASTER:
Michael Jordan scored the first in a very limited series of Planetarium Tri-Axial 99290B52P951-BA6A (market
John Player Special themed watches from de Bethune called value: $1.7 million). Send address changes to
the DB27 Titan Hawk JPS. Jordan is an investor in While industry analysts project values will stabilize as The Journal of Antiques
WatchBox, a pre-owned watch retailer that acquired De supply-chain issues subside with COVID, an investment in and Collectibles
Bethune a year ago, something that no doubt gave him an a pre-owned luxury timepiece is expected to still be a sound ISSN: (1539-5618)
edge in snagging one of the 25 pieces. investment, performing well, especially over the long term, P.O. Box 950
Limited releases, a long-time marketing tactic employed in comparison with traditional investment categories. Sturbridge, MA 01566
across all collectible categories to boost demand, collect- According to the BCG report, in the 10 years from 2013
The Journal of Antiques and Collectibles
ability, and value, have become even more intentional and to 2022, watches outperformed collectible assets such as reserves the right to reject any advertising that
commercial these days among watchmakers, as well. jewelry, handbags, wine, art, and furniture. does not comply with our standards. The
Journal will not be liable for any errors or
Audemars Piguet recently announced a collaboration with Now may be the time to give vintage and pre-owned omissions but will print a correction in the
02/23
Marvel, yielding its first release of a limited-edition “Black luxury timepieces a second look, not only to amp up your following issue if notification of such error is
sent by the appropriate deadline. Original
Panther” Royal Oak Concept. Only 250 were produced style but as an investment for your future. Only time manuscripts are welcomed by qualified
and one commanded an impressive $481,700 at Christie’s will tell. writers. We assume no responsibility for loss
of unsolicited material.
last fall after the first, made in white gold, sold for $5.2 Copyright 2023
million in a special auction.
All rights reserved
So, why are collectors opting for the pre-owned? Maxine Carter-Lome, Publisher
2 Journal of Antiques and Collectibles