What Watch Prices Could do this Year

There were many pictures on Instagram that were posted about declining prices of very desired watches. There were also pictures posted from various watch Instagram pages of some watches that they believe have increased in value. With the outbreak of COVID-19 and the start of an economic recession looming, the prices of watches are definitely in question.

Prices Could Go Down

Unemployment numbers were recently released for the USA and over 3 million individuals have filed for unemployment. With the layoffs that have been announced, it is quite obvious an economic recession is headed our way. This would mean people have less money to spend on luxury goods, which includes watches. Furthermore, wrist watch exports declined sharply in February which would point to a low demand in watches from consumers. This will cause watches to be sold for discounted prices, or not at all.

Prices Could Go Up

With manufacturers like Audemars Piguet, Patek Philippe, Hublot and Rolex all closing their manufacturing facilities, many of the highly desired watches are not being produced. This lack in production may point to extremely desired watches become much more scarce. If demand for these watches remains the same, these watches could increase in value. But, this would probably only occur for a small subset of all the watches produced my manufactures.

Enjoy!