2020 was a year of bumper returns for handbags and watches.
Getty Images
Javed Fiyaz has about 50 watches, including timepieces formerly owned by the Sultan of Brunei and Prince Charles. “I collect some for passion and sometimes for investment,” he says.
It’s the passion part that is paying off. A diamond studded Richard Mille RM 15 he bought for £300,000 ($417,818) in 2012 has now doubled in value. A Patek Philippe Grand Complications Sky Moon is already worth more than the HK$18.9 million ($2.4 million) Fiyaz paid for it in 2019.
Overall, the price of collectible watches has risen by 89% over the past decade, according to new research from the Knight Frank Wealth Report. It is part of a broader desire to buy second hand luxury which has captivated the super-rich during a year that curtailed their usual spending.
Pre-pandemic, if you wanted something that would both increase in value and look nice you went for art. But Covid-19 has turned…