AN OUTLOOK ON THE WATCH MARKET AMID THE COVID-19 CRISIS

This view is echoed by Davide Parmegiani, unquestionably one of the most important watch specialists and dealers on the planet. For context, this is the man who has handled all four of the legendary Patek Philippe 1518s in steel. As Davide tells us, it’s not the first time he’s gone through an event such as this, “I have already experienced many important economic crises: the first Gulf War of 1991, the second, the 2008 crisis, and so on”. Armed with this experience, Davide seems somewhat positive about the future of the collectable vintage watch market, “I can tell you that collector’s watches have never been significantly affected by these crises. Indeed, I would venture to say that after normal periods of settling that usually sweep away short-term speculators, the market has always come out stronger and stronger than before. The average value of the pieces in the last 30 years is valid testimony.” Of course, he’s quick to point out that this crisis is unparalleled in its nature, yet his confidence remains absolute.

 

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