Heard on the Street: While demand for new watches looks resilient, a speculative boom in the secondhand market that took off during the pandemic is fizzling out
Although sales of brand-new watches are still healthy, speculative purchases for profit in the secondhand market are becoming less attractive
Related Video: Expensive materials, delicate craftsmanship, and an economic principle that turns the usual equation of supply and demand on its head. WSJ explains why some watchmakers can charge hundreds of thousands of dollars for a single timepiece. Illustration: Alex Kuzoian/WSJThe luxury watch market is still ticking along nicely for brand-new products. For secondhand ones, not so much.
On Friday, shares in Compagnie Financière Richemont , which owns numerous Swiss watchmakers as well as jewelry brands like Cartier, jumped about 10% after it reported strong results for the six months through September. Its watch sales were up 15% compared with the same period last year.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Christie’s Is Now Using the Blockchain to Track Watch SalesWould you rather have a stack of physical papers or a blockchain certificate to go along with your $3.4 million Rolex?
Leer más »
A building boom is coming along Dallas’ Turtle CreekAlmost $2 billion in new real estate projects are in the works along Dallas' Turtle Creek.
Leer más »
Sonic boom? Mysterious 'booms' heard around Central FloridaDid you hear it?
Leer más »
Christmas In Paradise Clip Sends Elizabeth Hurley After Kelsey GrammerCheck out an exclusive clip from Lionsgate's ChristmasInParadise, the sequel to FatherChristmasIsBack. In the new holiday adventure, Elizabeth Hurley and her sisters head to the Caribbean to track down their father, Kelsey Grammer:
Leer más »
The Woman-Helmed Leather Shop Making Timeless Handbags in Rhode IslandLindquist, by industry veteran Lindy McDonough, is a label to watch.
Leer más »