Patek Philippe

platinum5070
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luxury versus luxury

-34% is much but I think we're not talking about watches like Patek Philippe and other VERY expensive brands. When a report says that luxury sales dropped 35%  I think those are jewels and watches we watch freaks don't even consider as luxury. Probalby watches and jewels in a categorie between a few hundred and a few thousand USD didn't sell good because those things are bought by people who are not collectors. they buy those goods because they can afford them but I doubt they know what they're buying. They are mass produced luxury which isn't real luxury. In the same category we have Mont Blanc pens and Louis Vuitton handbags. Those last 2 will probably suffer too because 80% of their sales go to people who just want a good and expensive pen or handbag. I don't know much about handbags and pens but I'm pretty sure that those 2 brands are not very high-level. If I were a pen collector I would probably buy other brands than Mont Blanc. Brands I even don't know today.

Watches are imo comparable. The Rolexes, Cartiers, Breitlings, Omega's, Tag Heuers etc will have a hard time because I think most of their watches are sold to people who are not intrested in watches like us. They want a nice watch and when they can afford it they will buy it. Those goods ( not high-end but still expensive pens, watches, handbags, ... will be the first things they won't buy anymore when we're in a recession)

On the other hand I think the really expensive watches like Vacheron, Breguet, Patek, Lange, ... are bought by a different kind of people. I think they are real passionate collectors who will save for their Holy Grail or they are rich people and in those 2 cases I think those people won't stop buying

Anyway, I'm not rich but I am addicted to watches and recession or not, that dind't stop me. I sold ALL my watches but 1 daily beater and I bought my dreampiece.