MARKET UPDATE 2009
OH MY, WHAT A YEAR!
This is the year of the word TRILLION. No one really knows what that word means (they only think they do). Our country and many others have injected trillions of dollars and other currencies into the world market. This will, over a period of time, cause an aggressive inflation! How do we protect our wealth? One suggestion is to buy good quality watches, gold, art, jewelry, real estate, etc. etc.
Amazingly, watches fared well during this, hopefully, once in a lifetime “Great Recession.” Please keep in mind, however, that during a recession of any kind, we have groups of investors that were initially in over their head when times were strong. Now that times have recessed, these individuals must liquidate at any price. Some sales, therefore, reflect a false market. So, let’s see what is happening in the watch world currently.
COMMON US AND FOREIGN WATCHES have certainly softened due to quiet sales. Buyers of these types of watches are generally middle class collectors and, consequently, those most affected by the job losses in the world.
THE US RAILROAD MARKET has also quieted with less sales except for bargain levels. Still, exceptional condition or rare pieces have sold well and brought current prices suggested in The Complete Price Guide To Watches.
SCARCE CHARACTER POCKET AND WRIST WATCHES have not surfaced much, but when they did, they held their own.
What I must say is that the RARE AND COMPLICATED foreign market of pockets has amazed me throughout this recession. The prices have not increased tremendously but they certainly have not dropped much compared to all other investments. All in all, investors are still active buyers, with some caution. Anticipating the aforementioned inflation, we should have a serious upsurge in the near future,
VERGE FUSEE WATCHES are all but gone from sales lists and when they do show up, they do not last long. Their prices are a bit less than last years but close in actual value.
The strong gold market has helped gold watch sales throughout 2008 and early 2009. Friends, we must realize these wonderful gold collectibles are disappearing from the market place quickly.
FINE WRISTWATCHES continue to show new strength as the collectors start to fine tune. An example: Omega speedmasters have now been separated into at least a dozen varieties, some demanding $8-10,000 (Omegamania).
The exceptional names in wristwatches: Patek Philippe, Vacheron & Constantine, Audemars Piguet and many others have stayed strong and are quite easy to sell. Vacheron & Constantine particularly seems to be gaining popularity. Vintage is getting more difficult to find. Note: All of the major auction houses new catalogs now offer approximately 80% modern and 20% vintage. What does that tell you!
Our foreign friends (China, India, the Far East and other wealthy nations) are all working through their expansion aches and pains and will all be looking for anti-inflation investments. Hang on folks, you will see amazing prices in the future.
The effects of the recession will be with us a while longer. The United States, however, will build and claw its way back. The opportunity to purchase great investment watches will be here for a very short period of time before they surge to unheard of levels. The smart collector will take advantage now!