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Investing in collectibles: Watches and bags can yield long-term gains
Despite their price volatility, luxury items like handbags and watches can be long-term investments, collectors say.
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Woman with gray crocodile Hermes bag before Giorgio Armani fashion show, Milan Fashion Week street style on September 23, 2016 in Milan.
(shutterstock.com/andersphoto/File)
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uxury items like bags and watches have become popular among young people, so much so that many have become hard to obtain. Collectors believe this makes them a fancy addition to an investment portfolio.
Christie’s luxury goods auctions around the world include jewelry, timepieces and handbags, with sales totaling US$590 million in the first six months of 2023.
Luxury watches often maintain market appeal over time, irrespective of the common advice to go for watches with a famous history for price stability and appreciation.
Jakarta-based entrepreneur Ryco Haryanto recalls how his watch collection began with a humble set of G-Shocks back in 2015, before he eventually moved on to Seiko and finally to fine Swiss watches.
“Even though I only started with G-Shocks, when I sold them, I made a lot of profit,” Ryco told The Jakarta Post on July 26.
Ryco said the current watch market was not unlike the stock market.
The supply of used watches was rising, while demand was currently weak, leading to declining watch prices, he acknowledged. However, he felt confident that high-quality watches, such as Rolexes, would rebound.
