These luxury jewels that sell for more than their purchase price
The buyer of a luxury watch or a piece of jewelry from a major brand may be surprised when he wants to sell his property. Indeed, it is possible to obtain an offer higher than the purchase price . This phenomenon has existed for a long time in the fields of fine jewelry and watchmaking. However, it is taking on a new dimension given the current economic and geopolitical context.
Why are the prices of some luxury products exploding?
For several months now, we have been witnessing the return of a phenomenon that we have not seen for a long time. Namely inflation . Add to that the supply problems encountered by many companies, and we get an explosive mix for a generalized jump in prices.
Jewelry and watchmaking are not immune to these logistical problems. The phenomenon is exacerbated by the exclusivity policy of these brands. While traditionally, companies do everything to attract customers, in the luxury sector it is almost the clientele who must show their credentials to acquire a luxury watch or a piece of fine jewelry.
You don't necessarily have to be a famous house to practice this policy. This art of " artificial scarcity " is exploited by brands like Nike or Apple.
Patek Philippe: the perfect example
To illustrate this state of affairs, Patek Philippe is the perfect example. To be the happy purchaser of a new watch from the house, you have to wait many years. And this is still valid for existing customers of the Swiss watchmaker. The first buyers will have to wait even longer…
There is no special treatment. Even if you offer a much higher amount than what is on the sticker, you will have to wait.
That said, not all the responsibility rests on Patek Philippe's shoulders. As a manufacturer of fine watchmaking, the house wants to limit its production. The problem is that some people take advantage of this to speculate . This policy of Patek Philippe is therefore also intended to prevent these products from being purchased with the sole aim of reselling these luxury watches at a higher price.
The impressive appreciation of the value of Patek Philippe watches
For all these reasons, the value of the most sought-after Patek Philippe watches has literally exploded in recent years. For example, a Patek Philippe Nautilus 5711 watch could be purchased for around €25,000 in 2016. Today, you have to invest at least 4 times more!
Recently, a Nautilus 5711/1A-014 was sold for over €400,000. Its owner had bought it for just over €30,000…
Patek Philippe is not the only watch brand affected by this price inflation. To varying degrees, the same trends are observed on the side of second-hand Rolex watches, Audemars Piguet, etc.
- What is the most expensive watch in the world?
- Second hand watch
It's not just luxury that's affected
In other sectors, on the contrary, it is the mass market products that are seeing their prices take off. For example, in the automobile industry, it is the cars of Mr. and Mrs. Average that are selling much more expensively , or the high-end vehicles of manufacturers such as Mercedes. On the side of manufacturers such as Rolls-Royce or Ferrari, we are not seeing such a surge in prices.
Conclusion: Luxury jewelry is often a good investment
By choosing your products carefully, you can wear beautiful jewelry or watches whose value increases over time. At Miller, we offer you second-hand and vintage jewelry from the biggest brands, at the best prices.
Unlike new items, our second-hand jewelry can be purchased by anyone, including our pre-owned Patek Philippe watches . The rule is simple: first come, first served! This market is therefore ideal for avoiding the waiting lists of the most prestigious brands.
