FB image

EXPERT VIEW: The secret of how affluent watch collectors are funding their next big purchase

EXPERT VIEW: The secret of how affluent watch collectors are funding their next big purchase

When a Rolex Daytona changed hands for nearly $18m last year, it reiterated just how healthy the auction market is But who can high-end watch collectors turn to in order to finance new acquisitions when they suddenly arise? The answer is collateral lenders and luxury pawn shops, writes Dewey Burke, CEO of Luxury Asset Capital. There is no magic bullet for acquiring a great watch. You can buy from your favorite retailer, scour the internet, or receive one from a relative, but generally speaking, auctions and private sales are where the most valuable watches are sold.  Last year, a Rolex Daytona owned by Paul Newman went for $17.8m, making it the most expensive wristwatch ever sold publicly. This year, a different Daytona, called ‘The Unicorn’, sold for $5.9m at auction in Geneva, making it the second-most expensive Rolex ever sold at auction. The Unicorn was expected to sell for $3m but went for nearly double, which speaks to one of the greatest . More

Popular products near you

MEN’S TWO TONE ROSE AND WHITE GOLD WEDDING ...

US $666.00

Twila True, Newport Beach

5 5/8 Carat Tourmaline & Diamond Ring in 14k ...

US $5,990.00

The Jewelry Exchange..., Tustin

14K White Chatham® Created Alexandrite & 1/8...

US $1,007.74

Medallion Jewelers, Portland

1/4 Carat Diamond Foreverest™ Pendant in Go...

US $425.00

The Jewelry Exchange..., Tustin

Popular Posts

Code 11.59 By Audemars Piguet: How To Fail At Marketing, AKA To Break The Rules You Must ...

Imagine, for a moment, that you find yourself taken back in time several years and plunked down in t...

read more

Sotheby's to sell one of the world's “most important” watches

One of the world's most important watches could sell for more than $1 million when it goes up for sa...

read more

Bonhams Hong Kong Is Auctioning Asia's Largest Collection of Multi-Brand Watches

Bonhams has just kicked off Asia's largest single-owner watch auction. The collection was put togeth...

read more

Imagine Bridal Unveils A New Oval Diamond Band Collection

Our job is to help close more sales for our retail partners. .... PBI's Maternal Den Research...

read more