Gold watch sales tick up
Robb Report is out with a note stating that stainless steel is out, and gold is back in. Demand is strong for not only new gold watches but also second hand gold watches.
Gold watch sales seem to be bucking the overall downtick in jewelry sales, although the upper end of the fine jewelry market apparently has remained resilient.
Here's more from Robb Report...
"Fine jewelry has already seen a return to the material at nearly every major brand, while Gucci made a splash with its retro, $1,800 jumping-hour Grip watch in yellow gold. Driven by interest from the Asian market, as well as a general flight to tangible assets in light of the past year’s economic uncertainty, gold appears to be, finally, on an upswing."
It's not just in Asia where gold watch sales are starting to heat up...
"according to WatchBox CEO Justin Reis, who spoke to Robb Report in February, availability of select gold Rolexes has tightened as demand has seemingly doubled, noting that “40-millimeter gold Day-Dates are going over retail for the first time ever” and “Patek Philippe Nautiluses in rose gold are trading at approximately two times their retail value.”
You can read the full article here