When it comes to timeless symbols of luxury, few items can rival the allure of a high-end watch. These exquisite timepieces are more than just functional accessories; they represent a seamless blend of heritage, craftsmanship, and exclusivity.
In 2022, the worldwide luxury watches industry was valued at approximately $29.19 billion, with a growth rate of 0.5% since 2017. Projections indicate that the market will increase to $37.29 billion by 2027, growing at 5.0% and further reaching $50 billion by 2032 with a 6.0% CAGR from 2027. Historical growth can be attributed to economic expansion in emerging markets, e-commerce growth, increasing high-income women, and a surge in international trade.
The era of cheap money and rising markets is over. The stock markets have noticed this, as have the cryptocurrencies. In times of rising interest rates and restrictive monetary policy, investors are withdrawing from speculative markets. In Q2 and Q3 2022, the market for luxury watches segment has also been impacted. The WatchChart Overall Market Index for the secondary market of luxury watches has slumped by almost 25% since its peak in March 2022 and has fallen back to the level of October 2021.