If you are looking at purchasing a brand new luxury watch, then I would probably recommend (with an unbiased opinion of course) to look at luxury vintage watches.
Before we go into why, let’s look at what happened in Switzerland this past month.
Among the world’s great watchmakers, Rolex became the first to announce it would briefly shut down as the worldwide COVID-19 pandemic worsens. Now, the rest of the (non-vintage) watch world is speedy following suit.
Less than a day after Rolex announced that it would be closing its production on Tuesday, Hublot ended up doing the same. A few days later, Patek Philippe, Audemars Piguet and MB&F had delivered themselves to the list of manufactures that were following suit. In Patek Philippe’s case, each its main office and production facilities would be closed until March 27, same as WWD.
Audemars Piguet made its announcement on Twitter, where it stated the enterprise would close a portion of its workplaces, production websites and shops. “In this period of uncertainty, people’s safety stays at the coronary heart of our priorities. This is why we have determined to shut our Swiss production sites as well as some of our offices and boutiques in various countries till the stop of March,” its Tweet read.
Beyond a feel of corporate responsibility, the closures had been precipitated by way of Switzerland’s state of emergency, which limits crowds and has pressured maximum non-essential companies to cease regular operations. That declaration calls for all shops, restaurants, bars, leisure and entertainment facilities to shut till similarly notice.
With a number of the field’s maximum vital players down for the count, chances are high that the ones still status will soon adjust path and shutter the parts of their very own operations they can.
Those owned with the aid of conglomerate LVMH––Hublot, Tag Heuer, Zenith, Bulgari––may additionally flow at a slightly unique pace due to the fact they function greater independently than their peers at other luxury conglomerates.
Swatch Group––which owns the likes of Omega, Breguet, Harry Winston, Blancpain, Glashutte Original and Jacquet Droz––has but to make any most important statement, however its pass can be the most telling. Though it owns several excellent watch manufacturers in its personal right, the business enterprise also acts as a main element dealer to different watch manufacturers.
“Buffett said, “I just hope I see a lot of recessions.” Some of Berkshire Hathaway’s best investments have come during periods of economic turmoil.”
Is there a light at the end of the tunnel? Is it worth it to purchase a watch now? Well, if you believe in the value of priceless luxury items, or even Gold, then yes. All you are doing is investing in your own future.
As stated from a marketrealist.com, “In an interview with CNBC, Warren Buffett, Berkshire Hathaway’s (BRK-B) chairman, was asked if he sees a recession coming—especially since the yield curve briefly inverted last week. Buffett said, “I just hope I see a lot of recessions.” Some of Berkshire Hathaway’s best investments have come during periods of economic turmoil.”