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Rolex, Patek, Audemars Piguet; Kevin O'Leary's 'great investment' watch picks
(Kitco News) - Investors all around the world, and in China in particular, are moving spare cash into luxury watches as a store of value.
Chinese investors have traditionally held property as a store of value, but recent downturns in the property market have pushed would-be home buyers into the luxury watch markets.
According to an article by the Financial Times, demand for Swiss watches rose 40% in the first 10 months of 2021.
This trend is not just happening in China, but all around the world, said Kevin O’Leary, investor, venture capitalist, and star of Shark Tank.
Worldwide, the dramatic rise in demand of high-end watch brands like Rolex, Omega, and Patek Phillipe have made them more difficult to attain and pushed retail prices higher, outpacing inflation in most cases.
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On the secondary market, new or even second-hand Rolexes are selling for more than double the asking retail price from an authorized dealer.
In this interview with David Lin, anchor for Kitco News, O’Leary discusses some of the top watch brands as an investment and shows some of his favorite pieces from his collection.
Some of the watch brands discussed are Rolex, Patek Phillipe, Vacheron Constatin, Audemars Piguet, Omega, Grand Seiko, Jacob & Co., Richard Mille, F.P. Journe, Longines, and microbrands like MING and Rubber B.
To learn more about the watch market, click on the video above.
Follow David Lin on Twitter: @davidlin_TV
Follow Kitco News on Twitter: @KitcoNewsNOW
