Global fashion shopping platform Lyst has revealed in its Wedding 2021 Report that there has been a 42% rise in searches for 'couple watches' 'engagement watches' and 'wedding watches', which the business says is expected to lead to a rise in sales of prestige timepieces.
After a first quarter surge, driven mainly by rumors and then confirmations of discontinued watches, prices for the world's hottest watches from the likes of Rolex, Patek Philippe and Audemars Piguet are starting to cool.
Watchfinder's research surveyed 26,000 watch owners around the world and 42% admitted they have no idea what their watches could be worth.
Chrono24 is reporting extreme volatility for watches fueled by concurrent announcements and rampant rumours of model discontinuations.
Ms Hayek refuses to blame management mistakes for a fall in sales from CHF 8.2 billion to CHF 5.6 billion in 2020.
By the end of 2019, eight watch brands had sold watches worth over $1 billion in calendar year and two more were knocking on the door. Covid-19 has shrunk the billionaire club to six.
Swatch Group watch sales fell faster than those for Rolex and Tudor, leaving Rolex AG the largest watchmaking group in 2020.
Turnover for Rolex dropped by 14% to CHF 4.42 billion, according to a Morgan Stanley research paper on the Swiss watch industry in 2020.
Explosion of online auctions fails to compensate for loss of saleroom events during the pandemic.
Exclusive data from Chrono24 shows the power of internet rumors drove a massive spike in prices.