At the beginning of 2022, a Patek Philippe Nautilus 5711A, which sells for US$35,000 retail, could be snapped up for a bank-busting US$240,000. By August, that figure nosedived to about US$190,000; slack-jawed collectors had a cryptocurrency collapse to thank—or blame, depending on whether they were buying or selling. High-end timepieces have long been favoured by high-rolling traders, so when the crypto market’s total value shrank from US$3 trillion (yes, that’s trillion) by two-thirds, watch valuation experts wondered whether the Nautilus 5711A’s tailspin was an indication that the soaring secondhand industry was losing pace.
Head of region and client development for online retailer Watchfinder & Co Vivian Hau is confident that the market will hold steady. “We’re seeing an increase in the number of watch lovers bringing their luxury pieces to us for appraisal,” she says about the company’s Hong Kong space, which offers a curated selection of bestselling, vintage and limited-edition models from the likes of Cartier, Breitling, Rolex and Jaeger-LeCoultre. “When they [customers] do this, they are looking to refresh their collection and are thinking of selling or part-exchanging an existing watch or watches to make way for a new one.”
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THE LAST WORD
Every issue, we ask our cover star a round of quickfire questions that give us a little more insight into their personalities. This month: Gulf Kanawut lays it bare
WOMEN AT THE WICKET
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TIME TURNER
A 2024 Turner Prize nominee, British Filipino artist Pio Abad talks to Tatler about carrying on family legacy, unearthing historical connections and why the Philippines is always at the core of his work
ROYAL RICHES
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MAKING HER POINT
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IN IT TO WIN IT
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UNFINISHED BUSINESS
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INTRIGUE AND INTRICACIES
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Crafting a New Legacy
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A Lasting Legacy
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