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Used Rolex Watches Expert Says New Study Reveals Poor Economy Doesn’t Affect Rich People’s “Passion Investments”

Used Rolex Watches Expert Says New Study Reveals Poor Economy Doesn’t Affect Rich People’s “Passion Investments”

by Toria Walker / No Comments / 74 View / July 8, 2008

San Francisco, CA, July 8, 2008 – A San Francisco used Rolex watches expert says his work confirms what a new study says about habits of the very rich: even in a bad economy, high net worth individuals still lust for “passion investments”.

Nearly 14 percent of high net worth individuals selected the collectible jewelry/watch/gem category as their “passion investment” of choice in 2007, according to Capgemini/Merrill Lynch’s 2008 World Wealth report released this week.

“Luxury spending on collectibles such as used Rolex watches is not even phased by the looming economy,” says Avi Dayan, owner for 18 years of San Francisco-based A&E Watches, a pre-owned luxury wristwatch business that specializes in used Rolex watches and other collectible timepieces.

“This high net worth segment is typically unaffected in these market ups and downs,” he says. “Demand for these limited collectible Rolexes continues increasing as the number of millionaires around the world continues to increase.”  The global population with more than $1 million in assets grew 6 percent last year to 10.1 million people, according to the latest World Wealth report, an annual industry benchmark identifying and analyzing the investment needs of high net worth individuals.

This translates to another 600,000 people hitting the millionaire mark despite the slowing economy in the second half of 2007. India, China, and Brazil experienced the largest growth rates of wealthy individuals hovering around 20 percent each.

The significant uptick explains why wealthy individuals from emerging markets demonstrated influence in the global luxury marketplace—most notably China, India, Russia and the Middle East. In fact, the jewelry/watch/gem category attracted the largest share of passion investment allocations in Asia and the Middle East (19 percent and 15 percent) according to the World Wealth report, behind the global 13.8 percent.

Patience is a critical character trait for luxury watch collectors following the used Rolex market, Dayan says. “The fact is, new money and new blood often mean thousands of Rolex collectors all over the world are waiting years to own limited-edition used Rolex warches.”

Dayan says Swiss watch exports to China jumped more than 50 percent in 2007, while exports to Russia more than doubled. Hong Kong, which supplies most of Asia, is expected to move beyond the U.S. as the industry”s largest market for collectible watches.

“Times are exciting in the collectible Rolex market with more folks relying on alternative investments as a source of maintaining wealth,” he says.  “Used Rolex watches are not trendy. They do not go out of date. No one is going to spot your watch and say, ‘he’s a loser ‘cause he’s wearing last year’s model,” says Dayan.

“No one will ever know you’ve purchased a used Rolex watch unless you spill the beans.”  For more information about how to buy collectible, used Rolex watches, call Avi Dayan at 1-800-292-0521, 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.
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Focus: used Rolex watches, collectible Rolex watches

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