By
Bloomberg
Revealed
April 6, 2025
Luxurious watch resellers say they’re seeing an uptick in curiosity of their merchandise with the US poised to impose a 31% levy on Swiss exports to the US.
Collectability
John Reardon, the founder and CEO of Collectability, a web based platform for pre-owned and classic watches made by Switzerland’s Patek Philippe, stated he’s listening to from shoppers seeking to make quick purchases.
“Their logic is that a Patek Philippe is better than gold, better than bitcoin and certainly better than money in the bank,” Reardon stated. The model’s timepieces, which usually value tens of 1000’s of {dollars}, are among the many most sought-after on this planet.
A spokeswoman for Patek Philippe declined to remark.
Reardon predicted “a sudden upward bump in demand for vintage and pre-owned watches” within the US. Some prospects may even go on to Geneva to buy timepieces if watches within the US turn out to be costlier, he added.
Gross sales of luxurious items could undergo if the US economic system slows within the wake of the worldwide commerce conflict, as some economists forecast. However the preowned market may benefit from a rise in provide, stated Eric Wind, founder and proprietor of Wind Classic, which buys and sells classic watches. More durable financial instances can encourage luxurious watch house owners to promote their timepieces to generate additional money, he stated.
Wind stated shoppers have been peppering him with extra buy requests. He additionally sells on to different sellers, who’ve been in a frenzy.
“Your average consumer hasn’t necessarily thought through how this will affect them,” Wind stated of the tariffs. Sellers, getting ready for a surge in curiosity as soon as extra customers understand the potential impression of the brand new duties, are responding by “literally buying hundreds to secure inventory,” he stated on Friday. “I’ve never seen anything like it.”
The US imposed excessive tariffs on Swiss watch imports within the Nineteen Fifties, which initially helped to buoy the fortunes of American-made watches, in response to Wind. However these watch corporations weren’t revolutionary sufficient to compete with Swiss watchmakers when the tariffs had been ultimately lifted, he added.
