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London, United Kingdom--The global market has seen significant turbulence over the past year, especially for luxury items like Rolex and other top watches. The pound's fall presents more opportunities for investors, and luxury watches have become an attractive option as their price tag is suddenly low in the global luxury market.

[Photo by Suzy Hazelwood]

The timepieces continue to be a popular investment choice. Whether you're looking for protection for your portfolio in these turbulent times or simply trying to spend wisely, it might be worth considering buying yourself a Rolex watch.

"As a result of the pound falling, the luxury watches being sold by secondary market and authorized dealers in the UK were suddenly being discounted for global clients whose home currencies have seen their value rise against the pound during its decline," Danny Shahid, owner of DWL, said in a report. "The current climate still represents one of the best opportunities to buy a watch in the UK for anyone who holds a significant amount of foreign currency."

The falling pound is also a bad time to sell luxury watches in the UK. "As a luxury timepiece is an asset, it stores value irrespective of the currency with which it was traded but to a certain extent, the value will keep up with inflation," Mr. Shahid explained, as per the report. "If a currency devalues, then the watch is worth more of that currency. As selling your watch means converting a relatively stable asset into cash, this is unlikely to be the best strategy unless you have a plan to use that cash in the short term to invest in another asset likely to yield a higher return."

Mr. Shahid added in the report that sports model Rolexes are a "safe haven for watch investments," with models such as the Submariner, GMT-Master II, Daytona, and Sky-Dweller experiencing significant sales volumes and substantial premiums. "While these premiums have fallen in recent months, they have maintained a healthy level of resistance to the economic turmoil and remain sound investment timepieces," he added in the report.

Learn more about investing in Rolex in the entire report.