Used Rolex Watches: Collecting Wristwatches - Not Art - Is Hot New Trend For Rich Online Shoppers, Says San Francisco Jewelry Expert
San Francisco, CA, November 30, 2007 – Used Rolex watches represent a compelling portion of the 21 percent increase in online spending in jewelry and watches during third quarter 2007 according to comScore, a Virginia-based organization that measures online consumer behavior. This popular collectible represents an investment that many take advantage of around the world in place of art.
“The double-digit increase in online watch and jewelry spending in the 3rd quarter provides a compelling statistic in this lackluster economy,” says Avi Dayan, owner for 17 years of San Francisco-based A&E Watches, a pre-owned luxury wristwatch business that specializes in used Rolex watches and other collectible timepieces. “As the number of millionaires around the world increases, the demand for these limited collectible Rolexes continues increasing as well.”
Luxury investments are a market that never goes out of style, and the world’s richest people are still willing to spend. Cap Gemini/Merrill Lynch world wealth report reveals the world’s richest hold $670 billion in collectible assets--such as used Rolex watches--which represents just 1.8 percent of their wealth. Despite the shadow of economic recession hovering over the United States, online spending in jewelry and watches continues its double digit growth, ranking ninth in top gainers online, according to Cap Gemini/Merrill Lynch’s report.
Jewelry prices in recent auctions illustrate the volatile market-- $2.6 million for a red diamond and $16 million for a huge white diamond, according to Bloomberg News. At the same time, a Vincent van Gogh landscape remained unsold at a Sotheby’s auction, according to the New York Sun.
Used Rolex watches don’t depreciate in value immediately after purchase, which many believe qualifies them as a sound investment. Thousands of Rolex collectors in the United States and around the world who value the collectibles wait as long as six or seven years for the opportunity to own limited edition used Rolex models, says Dayan, a graduate of the Israeli Gemological Institute. The Internet has exposed others in developing nations to all kinds of collaboration and information, according to the Internet Society, a Virginia-based nonprofit —including western investments such as upscale, used Rolex watches.
“Investing in a used Rolex provides these collectors a beautiful timepiece that never goes out of style,” Dayan says. “Too often, people think the used Rolex watch market is only for those who can’t afford a new Rolex. Used Rolex watches are not trendy, so no one will ever know you’ve purchased a used Rolex.”
One of the most important factors in purchasing used Rolex watches is buying from a reputable dealer, says Dayan. He explains that these Rolex dealers provide buyers with a certificate of warranty, a certificate of authenticity and invoices with serial numbers. San Francisco watch expert Dayan says a Rolex should last forever with care and maintenance.
“People will certainly take notice of your watch—it’s a Rolex,” Dayan says. “But no one will ever know it’s used unless you choose to tell them. Rolex supports classic designs that don’t change with the times.”
For more information about how to buy used, collectible Rolex watches, call Avi Dayan at 415-437-3263, or visit his company’s Web site at www.aandewatches.com.
About Avi Dayan:
Avi Dayan is a graduate of the Israeli Gemological Institute, a member of the International Watch and Jewelry Guild and the American Estate Jewelry Association.
He owns A&E Watches, located in the San Francisco Jewelry Mart, one of the most prominent diamond and jewelry buying centers in the nation. Dayan is a consultant and advisor to Butterfield and Butterfield and other noted auction houses in the San Francisco Bay Area.
Focus: used Rolex watches, San Francisco used Rolex watches, collectible Rolex watches, collectible Rolex watch expert
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