I thought this was a remarkable piece if reporting from Buisnessday Nigeria. They report Nigerians are increasingly investing in Wrist Watches, just like you would Gold, benefitting from a hybrid of impression and value upside. Check out this excerpt from the Article?
“A timepiece like men’s Rolex Stainless Steel Black Dial Daytona, which currently sells for N2. 61 million ($13, 592) could costs 30 percent more in a year or two, say analysts familiar with the vintage wristwatch industry. Another wristwatch brand Hublot Big Bang 44mm from Hublot watches, which currently sells for N3 million ($18,900) a piece, is also expected to be worth 30 per cent more in one or two years. Collectors disclose that like old wine ,the older the make and date of the wristwatch, the more expensive and valuable the watch becomes. In 2012, the most expensive wristwatch sold at an auction was a 1928 Patek Philippe chronograph, which was sold in Geneva for $3.6 million, according to online reports.”
Check out the full article following the link below
Rich Nigerians turn to vintage watches as investment items
