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Synopsis
There has been a sharp increase in the prices of both new and used luxury watches. However, that has been far steeper for pre-owned watches as several, fast-moving, first-hand models of top brands such as Rolex, Patek Philippe, Cartier, Omega and Audemars Piguet as well as of independent watchmakers like FP Journe and Daniel Roth are in short supply. A supply-demand mismatch and a reliable pre-owned market have driven up prices and the current inflationary pressure will push the rates up further, say luxury watch sellers.
In watches, every hand matters—the hour hand, the minute hand and now the second-hand market . Luxury watches have always been statements of quiet style and flaunting-on-the-wrist wealth, marking time as well as timelessness, but now they have become dearer and more in demand. As the waiting period for a new Rolex or a Cartier lengthens into months, the impatient customer is tapping the second-hand market.Ask Arush Agarwal. The Bengaluru-based
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