Category: CIGA Watches

Why Are Swiss Watches Getting More Affordable and What It Means for the Watchmaking Industry

Rolex, Patek, Breguet- these brands are just some of the most prominent watchmaking
companies in the world. Any watch that they produce and sell to the market is always
valuable and highly-regarded and what they sell are generally considered as luxury watches.

For a time, people have invested quite a lot of money in Swiss watches and despite
their very high price tag, it is actually that reason why people regard these timepieces
as highly valuable. Their automatic watch is definitely something worth investing your
money into.

That being said, search any gray market online and you will find Swiss watches at a
considerably lower price. For instance, there are shops that sell a Rolex watch for just
$78,900 as opposed to their usual $100,000 asking price.


Literally, any watch store that you can find online that are other than the original
companies that sell them all have at least a couple of Swiss watches on offer that has
their prices reduced significantly.

Obviously, people that clamored for such watches would definitely want one as the
significant price cut is just too big to ignore. But, what does this mean for the collectors-
the ones that look at the horological value of a certain timepiece?

In this article, I will go over the possible reasons why Swiss watches today are getting
more affordable and what it means for the watchmaking industry.

Big Factors

The first major factor is China’s anti-corruption drive. It affected the sales and gift-giving
of things that are considered a luxury- such as the Swiss watches and their heavy price tag.

Because of that, the export of Swiss watches to Hong Kong, one of the best countries to
sell luxury watches to, has dropped considerably by 22.9% over the past couple of
years. And, with the rising prices of basic commodities, it is no wonder that people do
not have the resources to even acquire such watches.

Furthermore, smartwatches have become a thing. As more and more people go for
smartwatches as opposed to the luxury watch being offered by companies like Rolex
and Patek, these watchmaking companies are forced to slash their prices considerably
just to get back some of the money that was invested into creating such timepieces.

Inventory

Another huge factor in the decline of Swiss watch sales is the inventory. At some point
in time, watches have become quite popular that the companies spurred up production.

And, considering that markets like China and Hong Kong are tightening down on their
budgets and the fact that luxury watches, in general, are not being bought in Europe
and Asia, the tremendous amount of unsold watches can be accounted for; hence, the
reason for the decline in prices.

What’s in It for the Industry?

Despite declining sales, there are still people that are willing to spend excessive
amounts of money on these watches.

However, it cannot be denied that the once-blooming industry has turned into something
that only a really select few can purchase.

Categories: CIGA Watches

How to Buy Your First Luxury Watch?

Do you have a plan of buying your first investment watch? Making your first big purchase can be an overwhelming task as well as a bit more confusing yet lots of satisfaction. Just like buying any items you want, getting a luxury timepiece requires a bit of knowledge for you to choose the best one. Also, you must consider designer watches in Malaysia.

And if you are considering your first luxury timepiece as an investment that will be worth more once you sell it, you might consider a Patek Philippe watch. It’s true that some watches generate more value over time, and this brand is one of them. Below are some options you can check.

Vintage Watches

Believe it or not, more and more people getting into the vintage watch buying and selling a business. Christie’s Auctions are getting a lot crazier year by year. There are tons of pieces to choose from, but there are also a ton of risks. If you want to get your first ever vintage watch, make sure to get it from a reputable retailer. You wouldn’t want to end up with a piece with mechanical problems.

Limited Edition Luxury Watches

Any limited edition watch that is offered in the market is not really “limited.” Just remember, the lower the count, the better, regardless of its entry price. Those limited-edition timepieces that did well overtime are Omega’s Speedy Tuesday and Panerai’s limited edition bronze pieces.

Almost Any Steel Rolex

Whether it is an Air King, Submariner, Explorer or GMT-Master II, you’ll never go wrong with any Steel Rolex watch. If you are aiming for a piece that is more palatable, you can go for a Rolex Explorer. You can hang on to this watch for around two decades, and surely, you won’t lose money on it.

Categories: CIGA Watches