Less Than Low-priced Luxury Watches From Geneva To Of india
Posted Jul 19 2012 4:13am
The luxury watch market in America has not been growing so well the past few years. Maybe this is why cheap luxury watches are becoming more of a commodity in the western world. However when you speak about these high ticket pieces of jewelry you would never imagine the words cheap or discounted coming into play. When a simple piece of wrist flair can cost as much as $5 million dollars and averages around $100,000 dollars these words can actually mean a lot of value. However in places like India and China the desire for luxury watches is growing at 35%. Teamed up with the fact that Geneva will be hosting the premium watch sale by Christies this shows the industry is not gone, just moved.
In Geneva there will be a watch sale hosted by Christies which features over 400 watches to be considered top-drawer. These amazingly rare timepieces are estimated to be valued at over $17.5 million showing the luxury watch market around the world is very strong. With names like Patek Philippe, Rolex and Abraham Louis Breguet, the collection features some of the rarest watches ever created. However, Christies America did recently have an auction in America for jewelry which produced over $20 million in sales. Showing America may not have as much growth in the luxury watches sector but still holds some real estate in jewelry.
Indias luxury watch market is growing so rampantly, magazine companies are releasing new periodicals specifically segmented to the country. Ebner Group from Germany is licensing out its magazine WatchTime, which will be solely about luxury watches in India. Being produced by Malayala Manorama the new periodical will feature the growing market. Although the magazine was originally founded in New York City it has spread to over 7 countries, India becoming one of them, further showing the watch markets shift from America.
As the industry flourishes elsewhere there is still a rather large market for cheap breguet replica watches in America. With the job market turning around and more money making its way into the pockets of Americans it seems that luxury watches valued from $1,000 to $5,000 are becoming more sought out. This is especially true for timepieces that are bold or feature a themed creation.
So as markets shift cheap luxury watches are becoming more valued in the United States and high end luxury watches which are rare or more exquisite are becoming the center of attention in the Eastern world. Either way we are talking about an industry valued at over $45 billion dollars, it does not seem like it will be going out of style or business anytime soon.