الأربعاء, مايو 8th 2024
Amidst a broad decline in luxury watch values, Cartier’s classic models buck the trend by gaining in market value.
Over the last year, Cartier emerged as the only major watch brand to witness an uptick in its market value, with a 2.4% increase according to a report by Bloomberg, contrasting sharply against a broader 10.2% dip across an index of Swiss watches.
This Bloomberg index monitors the 50 top-traded luxury watches on the used market, which have generally plummeted to their lowest values in three years after a peak in April 2022.
While Cartier’s slim dress watches have found favor among collectors, leading brands like Rolex saw a 6% drop and Patek Philippe nearly 10%, moving enthusiasts away from previously sought-after models. Omega watches also faced a lesser decline of about 2%, marking it as the second-best performer amidst the market shift.
This realignment in collector preferences comes after a pandemic-driven buying frenzy, fuelled by excess cash and low borrowing costs, which inflated watch prices temporarily.
As financial climates shifted with rising interest rates and declining cryptocurrency values, the luxury watch market faced a significant readjustment, highlighting Cartier’s unique position in retaining and even increasing its value amidst market volatility.
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