Latest news with #BloombergSubdialWatchIndex
Time of India
2 days ago
- Business
- Time of India
Rolex lovers splash out on used watches before Trump tariffs
Watch enthusiasts snapped up used Rolex SA and Patek Philippe SA timepieces at the end of April, splashing out before possible tariffs from US President Donald Trump . The watch dealer and trading platform Subdial often sees a flurry of activity after people get their paychecks at the end of each month. In April, the post-payday spike was 160 per cent higher than normal trading levels, far above the average 112 per cent bump experienced on other pay days over the past year. The volume growth was particularly strong in the US and UK, Christy Davis, founder of London-based Subdial, said in an interview. 'People heard about the tariffs and went, 'Oh shoot, let's buy now,'' Davis said. 'They waited for pay day and then sales volumes just went through the roof.' The phenomenon echoed another trend seen in Switzerland, where watch exports jumped by nearly a fifth in April — with shipments to the US more than doubling ahead of expanded tariffs threatened by Trump. Watches made from precious metals, steel and bimetallic materials, products also targeted by Trump, saw the most growth, according to the Federation of the Swiss Watch Industry. The US jump was likely a one-off response by exporters seeking to avoid higher tariffs, rather than a structural increase in demand, Jean-Philippe Bertschy, an analyst at Vontobel, said in a note. Swiss watch exports fell 6.4 per cent to the rest of the world in the month, continuing a weak start to the year. The secondary watch market has continued its gradual rebound from February's post-pandemic lows. Since reaching that nadir, the Bloomberg Subdial Watch Index has risen about 5.3 per cent through late May, returning to levels last seen in October. It remains far from the levels it reached three years ago, when prices of used luxury watches surged as Covid lockdowns ended.
Business of Fashion
2 days ago
- Business
- Business of Fashion
Rolex Lovers Splash Out on Used Watches Before Trump Tariffs
Watch enthusiasts snapped up used Rolex SA and Patek Philippe SA timepieces at the end of April, splashing out before possible tariffs from US President Donald Trump. The watch dealer and trading platform Subdial often sees a flurry of activity after people get their pay checks at the end of each month. In April, the post-payday spike was 160 percent higher than normal trading levels, far above the average 112 percent bump experienced on other pay days over the past year. The volume growth was particularly strong in the US and UK, Christy Davis, founder of London-based Subdial, said in an interview. 'People heard about the tariffs and went, 'Oh shoot, let's buy now,'' Davis said. 'They waited for pay day and then sales volumes just went through the roof.' Tariff Watch The spike in trading for used timepieces after pay day was especially strong in April amid fears of higher tariffs. ADVERTISEMENT The phenomenon echoed another trend seen in Switzerland, where watch exports jumped by nearly a fifth in April — with shipments to the US more than doubling ahead of expanded tariffs threatened by Trump. Watches made from precious metals, steel and bimetallic materials, products also targeted by Trump, saw the most growth, according to the Federation of the Swiss Watch Industry. The US jump was likely a one-off response by exporters seeking to avoid higher tariffs, rather than a structural increase in demand, Jean-Philippe Bertschy, an analyst at Vontobel, said in a note. Swiss watch exports fell 6.4 percent to the rest of the world in the month, continuing a weak start to the year. The secondary watch market has continued its gradual rebound from February's post-pandemic lows. Since reaching that nadir, the Bloomberg Subdial Watch Index has risen about 5.3 percent through late May, returning to levels last seen in October. It remains far from the levels it reached three years ago, when prices of used luxury watches surged as Covid lockdowns ended. By Tim Loh Learn more: Can Swiss Watches Compete on Value? The price of Swiss watches has continued to rise, leaving watchmakers battling to bolster their value propositions amid a downturn in luxury spending.
Fashion Network
3 days ago
- Business
- Fashion Network
UK and US buyers snap up used Rolex and Patek Philippe ahead of tariffs
Watch enthusiasts snapped up used Rolex SA and Patek Philippe SA timepieces at the end of April, splashing out before possible tariffs from U.S. President Donald Trump. Watch dealer and trading platform Subdial typically records a surge in activity after customers receive their end-of-month paychecks. In April, post-payday trading volume jumped 160% above normal levels—well beyond the 112% average increase seen on previous paydays over the past year. The volume growth was particularly strong in the U.S. and UK, Christy Davis, founder of London-based Subdial, said in an interview. 'People heard about the tariffs and went, 'Oh shoot, let's buy now,'' Davis said. 'They waited for payday and then sales volumes just went through the roof.' The phenomenon echoed another trend seen in Switzerland, where watch exports jumped by nearly a fifth in April — with shipments to the U.S. more than doubling ahead of expanded tariffs threatened by Trump. Watches made from precious metals, steel and bimetallic materials — products also targeted by Trump — saw the most growth, according to the Federation of the Swiss Watch Industry. The U.S. jump was likely a one-off response by exporters seeking to avoid higher tariffs, rather than a structural increase in demand, Jean-Philippe Bertschy, an analyst at Vontobel, said in a note. Swiss watch exports fell 6.4% to the rest of the world in the month, continuing a weak start to the year. The secondary watch market has rebounded gradually since February's post-pandemic lows. Since reaching that nadir, the Bloomberg Subdial Watch Index has risen about 5.3% through late May, returning to levels last seen in October. It remains far from the levels it reached three years ago, when prices of used luxury watches surged as Covid lockdowns ended.
Business Recorder
3 days ago
- Business
- Business Recorder
Pre-owned Rolex sales boom amid Trump tariff threat
Watch aficionados bought up used Rolex and Patek Philippe watches at the end of April, in an effort to avoid post-tariff price hikes as threatened by US President Donald Trump, as reported by Bloomberg on Friday. The watch dealer and trading platform Subdial observed a 160% bump in April – far above the average 112% bump experienced over the past year, added the report. The trend was noted mostly in the US and UK. Analysts have attributed this hike to a flurry by customers to splurge before Trump's tariffs hit, which will raise the prices of imported Swiss goods in the US by at least 10%. Swiss watchmaker Rolex debuts new model for 2025 The phenomenon echoed another trend seen in Switzerland, where watch exports jumped by nearly a fifth in April – with shipments to the US more than doubling ahead of expanded tariffs, added Bloomberg. Rolex begins selling used watches, but at a premium Tariffs are also threatening the prices of metals – silver and gold to rise even further. The current gold rally has also driven up the demand and prices of specifically gold timepieces. Last month, Bloomberg reported that demand for used gold Rolex watches was rising as precious metal prices soared and collectors seek out dressier models. Three gold timepieces made by the Swiss luxury brand have climbed the most places since the 2022 launch of the Bloomberg Subdial Watch Index, which tracks prices for the 50 most-traded models by transaction value, added the report. The yellow-gold Day-Date 228238, which Rolex suggests retailing for €43,800 ($48,050), was the index's fastest climber, rising from 30th place to ninth in that period.
Fashion Network
3 days ago
- Business
- Fashion Network
UK and US buyers snap up used Rolex and Patek Philippe ahead of tariffs
Watch enthusiasts snapped up used Rolex SA and Patek Philippe SA timepieces at the end of April, splashing out before possible tariffs from U.S. President Donald Trump. Watch dealer and trading platform Subdial typically records a surge in activity after customers receive their end-of-month paychecks. In April, post-payday trading volume jumped 160% above normal levels—well beyond the 112% average increase seen on previous paydays over the past year. The volume growth was particularly strong in the U.S. and UK, Christy Davis, founder of London-based Subdial, said in an interview. 'People heard about the tariffs and went, 'Oh shoot, let's buy now,'' Davis said. 'They waited for payday and then sales volumes just went through the roof.' The phenomenon echoed another trend seen in Switzerland, where watch exports jumped by nearly a fifth in April — with shipments to the U.S. more than doubling ahead of expanded tariffs threatened by Trump. Watches made from precious metals, steel and bimetallic materials — products also targeted by Trump — saw the most growth, according to the Federation of the Swiss Watch Industry. The U.S. jump was likely a one-off response by exporters seeking to avoid higher tariffs, rather than a structural increase in demand, Jean-Philippe Bertschy, an analyst at Vontobel, said in a note. Swiss watch exports fell 6.4% to the rest of the world in the month, continuing a weak start to the year. The secondary watch market has rebounded gradually since February's post-pandemic lows. Since reaching that nadir, the Bloomberg Subdial Watch Index has risen about 5.3% through late May, returning to levels last seen in October. It remains far from the levels it reached three years ago, when prices of used luxury watches surged as Covid lockdowns ended.
