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Luxury Watches Are Fetching More Than Crypto, Gold, and Other Assets July 06, 2022 (0 comments)

Luxury Rolex watch

New York, NY--The price of used luxury watches is settling, but it's still more than many other popular assets. 

[Main image by hassan mehdi via Pexels Commons]

A new index by trading platform Subdial highlights the fall in price for second-hand luxury watches. Despite the prices falling to a more sensible number, the index, which includes Rolex, Patek Philippe, and some other top watch brand models, appear to be a better asset investment than vintage cars, gold, and cryptocurrencies.

As highlighted by a news report, the Subdian50 index shows that the value of the most traded luxury watches has declined by around 6% in the past month. 

"In certain models, there has been this big run-up, and they have come back down to a probably a more sensible price where the true underlying demand was," Subdial co-founder and data scientist Ross Crane said in the report.

The report notes that despite the fall, prices for these luxury watch models are up about 32% in the past year, adding that the falling tech stocks and cryptocurrency values have seen some speculators selling their timepieces.

Read more in the entire report.

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