Recession Proof Luxury Watches

I read an interesting article the other day saying that watches were obsolete. With the popularity of high tech gadgets such as cell phones, iPods and the Blackberry, the article went on to say that there was no need for a wrist watch since everything nowadays has a built-in clock. But, while low end dollar store watches may not be selling, it seems that luxury watches, those in the neighborhood of hundreds of thousands of dollars are not susceptible to the advancements of technology or even hard economic times. In fact, luxury companies such as Rolex, Piaget and Patek Philippe are seeing a distinct increase in sales.

Admittedly, if you think about the logic of purchasing luxury jewelry, it stands to reason that it might be more popular in poor economies. Not necessarily because customers have the disposable cash but because expensive watches, those for instance in the half a million dollar range have investment value. And many of the better-quality, high-end brands hold their value for years to come. Because of this ability to hold significant monetary value, there is always the temptation from unscrupulous dealers to copy and forge the brands. They also sell what are commonly known as “knock-offs”. As a result, it is important to purchase from verifiable dealers and read authenticity information direct from the official label’s website.