Guess weâre over the never-ending discussion about how luxury watches transcend mere functionality and have captivated enthusiasts for generations on various grounds. Taking that as a yes, we move on to the next hot debate â understanding the secondhand luxury watch market.
The price of a brand-new luxury timepiece can be daunting, leading many to explore the often-rewarding grey market. However, there are various nuances that one must be aware of. The luxury watch market has experienced significant shifts over the years, affecting brands in distinct ways.
In this blog, we will discuss whatâs happening with one of the industry’s most popular and well-recognised luxury watch brands: Audemars Piguet. But before we delve into the details, letâs understand the secondary watch market.
What is the Secondary Luxury Watch Market?
Luxury watches are now more popular than ever, leading to increased demand and less availability in the market. This naturally leads buyers to the secondary market, which refers to the resale of watches by the original owner after their initial purchase from authorised retailers.
Also known as the pre-owned market, this market has gained significant traction in recent years, driven by factors such as limited supply, increased demand, and the rise of online transactions. For Audemars Piguet, the pre-owned market is particularly vibrant, and there are good reasons to back it up (more on that later).
Why talk about Audemars Piguet?
In 1875, Jules Audemars and Edward Piguet founded Audemars Piguet in Le Brassus. Today, Audemars Piguet stands as a prestigious Swiss watchmaker renowned for enduring quality and innovative designs.
Since its inception, the brand has positioned itself as a leading name in the world of horology and sits beside Patek Philippe and Vacheron Constantin in the Swiss Holy Trinity.
Audemars Piguet’s legacy is rooted in complicated watchmaking. It has created some of the most groundbreaking timepieces in the world and has a reputation for pushing boundaries. Every AP timepiece is a testament to the watchmakerâs dedication to quality, precision, and intricate detailing.
With iconic models like Royal Oak and Royal Oak Offshore, Audemars Piguet watches are not mere watches but heritage timepieces embodying the brandâs watchmaking excellence. As an investor, it is essential to understand what makes Audemars Piguet so desirable and sought-after by collectors and enthusiasts around the world.
Reasons why Audemars Piguet stands out in the world of luxury watches:
- Heritage: Audemars Piguet has a rich history of watchmaking. It is renowned for creating timepieces with intricate complications and high-quality materials.
- Iconic models: Launched in 1972, the Audemars Piguet Royal Oak model remains one of the world’s most iconic and coveted luxury watches for its bold design and unmatched craftsmanship.
- Limited Availability: Audemars Piguet produces popular models in limited quantities, creating a sense of exclusivity that drives demand in the secondary market.
Factors that affect the value of Audemars Piguet watches in the secondary market
Several factors influence the value of a luxury watch, including Audemars Piguet. Here are some of them:
- Rarity: The rarity of an Audemars Piguet model, whether due to being discontinued or limited production, increases its worth.
- Condition: A well-maintained, damage-free watch will fetch a higher price than the one in poor condition.
- Market demand: The current market demand of a particular Audemars Piguet model can greatly influence its overall value. If a particular AP model is trending or sought-after, its price will likely rise.
Financial performance of Audemars Piguet watches in the secondary market
Due to their limited production, exquisite craftsmanship and rich brand heritage, Audemars Piguet watches are a solid investment. On top of that, the growing demand for luxury watches adds to its desirability.
Youâll be intrigued to know that Audemars Piguet is one of the few brands to have shown exceptional performance on the secondary market over the years.
So, if you are looking for an investment, Audemars Piguet may be the ideal choice. According to reports, an Audemars Piguet Royal Oak Jumbo Extra-Thin purchased in October 2020 increased to 376% over retail in October 2021.
It is also important to note that investing in Audemars Piguet watches is not just about financial gain but about being able to appreciate the precision, beauty, and intricacy of the timepiece. After all, we all know that a luxury watch is more than a timekeeping device. Feeling the weight and craft of an Audemars Piguet watch on your wrist gives you a feeling like no other.
Audemars Piguet watches have a strong reputation for holding value on the pre-owned market. While the brand has produced several notable models, the Audemars Piguet Royal Oak is the most popular and collectable model on the market today. It comes in many variations, each performing exceptionally well on the secondary market, with prices reaching record highs.
Trends of Audemars Piguet watches in the secondary market
The pre-owned Audemars Piguet market is dynamic, reflecting broader trends in the industry. As collectors navigate this landscape, several trends have shaped Audemars Piguet watches’ pricing, demand and overall perception.
Hereâs the list:
1. Price Appreciation
Audemars Piguet watches show significant price increases in the secondary market. The exact amount of return depends on the particular AP model, but popular models like the Royal Oak and the Royal Oak Offshore have seen substantial increases in value over the years. This trend allures collectors, buyers, and enthusiasts alike to enter the secondhand Audemars Piguet watch market.
2. Increased demand for vintage Audemars Piguet
Vintage Audemars Piguet watches are seeing a surge in popularity. As collectors and buyers recognise the importance and value of vintage timepieces that tell the brandâs rich heritage, vintage Audemars Piguet models are becoming increasingly sought-after.
3. Limited edition, rare & discontinued models
Rare discontinued and limited edition Audemars Piguet models often command higher prices on the pre-owned market. Collectors are drawn to include rare and limited edition timepieces in their collections, recognising their potential for value appreciation. For instance, a few Royal Oak and Royal Oak Offshore models with unique complications and features have incredible demand in the grey market.
4. Market volatility
Like any investment, Audemars Piguet watches’ value can fluctuate due to market volatility. This is the inherent nature of the market – prices can rise and fall in response to various trends and factors. The list includes economic conditions, consumer trend shifts, or even the release of new models. However, considering APâs brand prestige and limited availability, it is safe to say that Audemars Piguet watches tend to hold their value well, even in an unstable market. In fact, the brand has shown great resilience over the years, defying wider economic trends.
5. Social media & Influencers
Social media platforms play a crucial role in the rising popularity of Audemars Piguet watches in the secondary market. As influencers and watch enthusiasts showcase their collections on various platforms, more enthusiasts are keen on buying them. The visual depiction drives interest and sales.
6. Beware of counterfeit
The watch market has a dark side: the potential for counterfeiting. When investing in a pre-owned Audemars Piguet, itâs essential you are extra cautious about who and where you buy it from. Skilled forgers replicate Audemars Piguet watches, making it hard for buyers to recognise one. To avoid such incidents, buy from a reputable source, research the particular Audemars Piguet model, and always ask for the paperwork. Also, if the deal seems too good to be true, itâs best to step away.
Tips for maintaining the value of pre-owned Audemars Piguet watches (For Sellers)
Audemars Piguet watches are renowned for holding their value well. However, if you own a pre-owned Audemars Piguet, itâs important you learn how to maintain its value, whether you plan to sell it eventually or keep it for years.
Here are some key tips to preserve the potential value of your AP timepiece.
- Keep it in excellent condition
The condition of your watch significantly impacts its value on the secondary market. Therefore, regular maintenance is crucial. Simple ways to do it include â regular servicing (typically every 3-5 years), handling with care (avoiding extreme temperatures, rough activities or magnetic fields), and avoiding water damage.
- Retain documentation
Keep the original, box, papers, and service records (if done) of the watch, as they play a vital role in establishing its authenticity and entice buyers to pay more.
- Store properly
Proper storage is imperative. High-end timepieces should be stored in a dry, cool place, preferably in a watch box or winder. This protects them from dust or any form of physical damage.
- Avoid changing original parts
Stick to genuine Audemars Piguet parts instead of replacing them. Aftermarket conditions detract from the watchâs value and authenticity and impact its value.
- Stay updated about market trends
Understanding market trends can help you make informed decisions about your watch. Follow the secondary market for Audemars Piguet watches by following social media groups and websites to check which AP models are currently in demand. You can also engage with fellow enthusiasts to gain insight into the market.
Tips for buying the best quality pre-owned Audemars Piguet watches (For Buyers)
Understanding the secondhand Audemars Piguet market is important for both sellers and buyers. The quality and authenticity of a pre-owned Audemars Piguet can greatly vary in the secondary market. Here are some tips to ensure you make a sound purchase.
- Do your research
Familiarise yourself with the specific Audemars Piguet model youâre interested in, including their specifications, history and market prices. This will help you make an informed decision.
- Buy from a reputable source
The source from where youâre buying your watch is crucial. Always purchase from authorised Audemars Piguet watch dealers to ensure quality and authenticity. Look for resellers with experience, return policies and robust review systems.
- Check for documentation
Authenticity is non-negotiable when buying a pre-owned Audemars Piguet. Look for original papers, boxes, warranty cards, tags and service records. A watch with complete certification is more valuable and also easier to authenticate.
- Assess the condition
Examine the watch closely for signs of damage, wear, and scratches. Check the crystal, dial, bracelet, and bezel. Test all the functions and complications to ensure theyâre running optimally. Enquire about the watchâs service history, as it is essential for its longevity.
- Consider the price
There are several pre-owned watch dealers out there, and you must always compare the prices before settling for one. However, be mindful of the prices; if it seems too good to be true, it probably is. Moreover, donât hesitate to negotiate, especially if you notice any inconsistency or imperfection in the pre-owned Audemars Piguet.
Future of the Audemars Piguet secondary market
The future of the Audemars Piguet secondhand market looks promising. As more people recognise the value of pre-owned watches, the market is likely to show an upward trajectory. Therefore, buyers, investors, and enthusiasts alike can look forward to a dynamic and evolving market.
Next, online marketplaces are continuing to evolve, offering better ways to enhance the buying and selling experience. This is likely to attract more buyers and sellers, further driving the growth of the pre-owned watch market.
FINAL WORDS
As the secondhand market for Audemars Piguet watches continues to grow, there will be plenty of opportunities for anyone looking to buy or sell pre-owned Audemars Piguet watches. The marketâs dynamic nature means that new trends are always on the horizon, and knowing about them will help buyers and sellers navigate the landscape with confidence and success.
Lastly, whether youâre a seasoned buyer or a newcomer, knowledge and patience are key to success in the Audemars Piguet secondary market.
