Luxury Watch Collectors Are Getting Younger
What do Sesame Street, The Little Prince and Rolex have in common? Luxury watch collectors are getting younger, according to reports.
Despite high, global prices for gold and other horology materials, recent reports have noted rising interest in the luxury watch sector with a significant upswing in the popularity of vintage watches, especially among Gen Z (those born between 1997-2012).
Webb’s will auction an outstanding selection of Important Jewels and Luxury Accessories on Sunday 9 June, 2:30pm at Webb’s Mount Eden Gallery. Among the many exceptional heirloom and luxury items, there are over 30 collectable watches.
Highlights in the timepieces category from Webb’s live sale include a few items by Cartier and Omega, two brands with exceptional appeal among younger buyers; a 40mm Rolex Submariner Oyster Perpetual wristwatch in stainless steel (also known as a Rolex Kermit); a 18ct Rose Gold, 46mm IWC Big Pilot, Antoine De Saint Exupery Wristwatch and many others.
Lot 89. 18ct Rose Gold, 46mm IWC Big Pilot, Antoine De Saint Exupery Wristwatch, Limited Edition # 65 of 500. Estimate: $20,000 - $22,000
According to several recent media and industry reports, watch buying and especially vintage stock, is on the upsurge, with many younger collectors joining a hobby that was often associated with older generations. Luxury watches with allusions to kids’ cultural staples like Sesame Street and The Little Prince are coming up for auction in Auckland, and this trend of youthful influences and buyers in the watch sector is a global phenomenon.
A recent report on the latest Watches and Wonders Geneva trade show (April 2024) noted the fact that a quarter of attendees were Gen Z (the generation born between 1997 and 2012). The iconic event — which in a way captures the nascent global trends in the luxury watch industry — is said to reflect the way in which the younger generation has been consuming social influencer content about timepieces and capitalising on their new-found financial position to invest in these luxury assets.
Likewise, in recent months publications such as Financial Times, The New York Times, Robb Report, and Business Chief, among others, have explored this upsurge of interest and the peculiarity of its new collector base. “There’s never been a better time to invest in what’s on your wrist,” said a February 2024 article in Robb Report, the United State’s iconic magazine about luxury lifestyle. While a May 2024 article in the Financial Times explains: “This younger audience seems to be drawn to [Watches and Wonders] Geneva as a physical extension of the community they are becoming a part of online, spurred by a post-pandemic rise in watch-dedicated social media commentators and influencers.”
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Gen Z is coming into the secondary watch market with a refreshed zeal and a passion for brands that reflect something about their personality. Many of these collectors are starting their journey with exceptional knowledge — usually gathered from the many social media influencers that cater to this hobby — and seeking premium-quality, pre-owned, luxury timepieces.
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There are over 30 watches in Webb’s upcoming auction catalogue
“The consignments that have arrived for Webb’s June Live Auction of Important Jewels & Luxury Accessories appear to confirm this global trend. The curation of this sale seems to reflect and cater to some of Gen-Z’s affinity for watch collecting,” says Christine Power, Head of Fine Jewels & Luxury Accessories at Webb’s Auction House.
Although the catalogue includes some heavy-hitting brand names often associated with established collectors and higher budgets there are also more affordable models from luxury makers that have become staples of the younger collector due, in part, to social media influencers.
“There are some stunning Cartier watches in this sale,” says Power, “the brand has become a go-to for Gen Z, including the Tik Tok vintage watch influencer market with many creators closely documenting the fascination this brand is creating among younger buyers.”
The live auction takes place on Sunday 9 June at 2:30pm.
Gen-Z celebrities such as Spiderman actor Tom Holland (pictured) have been seen wearing the Submariner Oyster Perpetual wristwatch, which we have in our auction catalogue estimated to sell between $18,000 - $19,500.
This auction includes a Stainless steel, Cartier, 28mm Ballon Bleu, quartz wristwatch (Estimate: $4,200 - $5,000). With an asymmetrical, sculptural case, the Ballon Bleu is said to defy gravity with its ethereal charm. Likewise, the auction house has received a 18ct yellow gold, 27.5 mm Cartier Tank Solo quartz wristwatch (Estimate: $5,000 - $6,000). The modern, modest design of the Tank Solo made it a classic from the moment it first appeared and it has garnered significant attention from hip-hop celebrities, collectable watch influencers and the like. Other brands with young-collector appeal include Omega and entry-level Rolex starting at a highly accessible low estimate of $1,900.
However, the New Zealand market is, of course, still very much dominated by seasoned collectors who are on the hunt for iconic timepieces, some of which often require long waiting periods for the big brands like Rolex and IWC. The secondary market allows a chance to skip the queue and acquire often inaccessible models, immediately.
This auction catalogue boasts nine Rolex. High among them is a 40mm Submariner Oyster Perpetual wristwatch in stainless steel (Est. $18,000 - $19,500). Its green bezel has led to its affectionate nickname ‘Rolex Kermit,’ which playfully alludes to the character in that Gen X television staple: Sesame Street. The watch, which was discontinued in the 2010s is a colourful and thrilling expression of a much loved classic. It has been seen on the wrist of such Gen-Z celebrities as Spiderman actor Tom Holland and Olympic gold medalist swimmer Adam Peat.
Likewise, there is a rare Stainless Steel, Rolex ‘Red Submariner’ Date Ref 1680 Wristwatch (Est. $22,000 - $24,000).
Another, very exciting watch in this sale is an 18ct Rose Gold, 46mm IWC Big Pilot, Antoine De Saint Exupery Wristwatch. A limited edition (# 65 of 500), this watch was made in honour of a French pilot, illustrator and author best known for the classic children’s book The Little Prince.
“Watch collecting is a passion often driven by a love for highly engineered, mechanical wonders; adventure; history and a touch of poetry,” said Power, “but it is also often inherited, with exceptional heirlooms passed across generations and fueling that enthusiasm for horology.”
Other watch brands represented in this auction include: Chopard, Panerai, Piaget, Omega, Beluga, Jaeger Le Coultre, and Zenith among others.
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