Latest news with #Subdial
Yahoo
a day ago
- Business
- Yahoo
Pre-Owned Watch Sales Spiked by 160% in April Ahead of Trump's Potential Tariffs
Pre-owned Rolexes, Patek Philippes, and more watches were flying off the market last month. In the wake of President Trump's potential tariffs, which were announced in early April, watch collectors responded by snapping up pre-owned timepieces on the secondary market, Bloomberg reported. More from Robb Report Meet the Texas Distilleries Working to Show the Effects of Climate on Whiskey Flavor Sara Gilbert Puts Her Modern L.A. Farmhouse Back on the Market for $10 Million H. Moser & Cie. Teams Up With Alpine Motorsports on New Race-Inspired Streamliner Watches Subdial—a watch dealer and trading platform—usually sees a rush of purchases once payday comes around at the month's end. This time, though, was a little bit different: The site saw its sales jump a whopping 160 percent higher than normal levels, towering over the typical payday increase of 112 percent of other months this year. The U.S. and the U.K. in particular saw an abundance of growth, Christy Davis, Subdial's founder, told Bloomberg. A similar response to the administration's potential tariffs can be seen in Swiss watch exports, too. Last month, watchmakers and retailers across the world were clamoring to get their hands on timepieces from Switzerland before the levies began. As a result, 1.3 million watches—totaling $3 billion—left the European country in April, an 18 percent increase from the same time last year. The U.S., once again, had a strong reaction to Trump's announcement, with stateside exports skyrocketing a whopping 149 percent during the month. The hike is likely a direct response to the tariffs and not indicative of an increase demand, Jean-Philippe Bertschy, an analyst at investment firm Vontobel, told Bloomberg at the time. As for the rest of world, watch exports actually dropped by 6.4 percent in April. This latest pre-owned Rollie hot streak comes after reports that the demand for gold Rolexes on the secondary market is on the rise, with a trio of timepieces from the brand jumping the most spots on Bloomberg's Subdial Watch Index since its inception. The prices of pre-owned Rolexes, as well as Patek Philippes, fell to a three-year low in 2024 after ballooning during the pandemic lockdowns. Through May, Bloomberg's Subdial Watch Index has risen about 5.3 percent, similar to what the market looked like last October, according to the publication. How the secondary market will respond to more levies is an open question. In the meantime, watch obsessives are sure to stay tuned. Best of Robb Report The 25 Greatest Independent Watchmakers in the World The 10 Most Expensive Watches Sold at Auction in the 21st Century (So Far) 11 Stunning Jewelry Moments From the 2020 Oscars Click here to read the full article.
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.
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.
