Investing in Luxury Watches for 18% + Returns



Investing in Luxury Watches for 18% + Returns https://www.rolexforums.com/showthread.php?t=256174 http://www.businessweek.com/stories/2010-04-06/luxury-watches-as-an-investmentbusinessweek-business-news-stock-market-and-financial-advice Patek Philippe Collector Tops S&P With 18% Gain in Fund: Retail 2012-09-24 22:00:01.3 GMT By Dermot Doherty Sept. 25 (Bloomberg) -- As Alfredo Paramico pulls up in a blue Audi at the 178-year-old neoclassical Four Seasons Hotel des Bergues in Geneva, the staff snaps into action. "Monsieur Paramico has arrived," a doorman says into a microphone on his lapel, alerting colleagues inside the hotel. With his handsome chiseled face, crisp white shirt, jacket by Neapolitan bespoke tailor Biagio Mazzuoccolo and slim jeans, Paramico looks like an actor. Located in the heart of a city that's home to Patek Philippe SA and Rolex Group, the hotel pampers Paramico because he's one of the world's leading watch collectors, Bloomberg Pursuits magazine reports in its Fall issue. These days, as everyone from Michael Schumacher to Usher to Arnold Schwarzenegger collects mechanical watches worth tens of thousands of dollars, Paramico is in a league of his own. Now 43, the Italian banker from Milan started buying Swiss timepieces more than two decades ago, before Geneva auctions overflowed with buyers. He has devoted himself to an intensive study of rare vintage watches and put together a grouping of 10 exceptional Patek Philippe timepieces. His assemblage makes Paramico one of the top 10 collectors worldwide out of a total of about 50,000 enthusiasts, says Davide Parmegiani, a dealer in Lugano, Switzerland, who has sold luxury watches for 25 years. "He doesn't want to have everything," says Arnaud Tellier, a consultant to collectors and watchmakers who ran the Patek Philippe Museum in Geneva for 11 years. "He selects only the cream of the cream." White Pateks Or the best of Patek Philippe, a company founded in 1851 whose handcrafted parts and sophisticated mechanical movements set it apart from many of its Swiss rivals. Several of Paramico's vintage pieces date back to the 1940s and '50s, and all of his watches are encased in either white gold, platinum or steel -- rather than the more common yellow gold -- giving them the name white Pateks. Six of them contain so-called complications that make the watches distinctive, such as a perpetual calendar that automatically adjusts to the start of a new month. Paramico says his collection is worth about 20 million euros ($25 million), or about 8 million euros more than what he paid for the watches starting in 2000. "If I see the same patina on the dial, the same aging of the hands, the indices and the bracelet, this is what I love," says Paramico, a discreet man whose face breaks into a smile when he talks about his collection. "The satisfaction that you can receive from a vintage watch you can never get from a modern one."

Comments

  1. I cannot listen to this plonker any more.
  2. I love fine cutlery and If you love these things and some day your broke yea you'll be happy that there worth thousands
  3. Over several years I bought old Gruen Pan Am watches.....never paid too much. Anyway's......I hang on to one that came with its original bakelite box. I only ever bought the gold ones, did'nt buy them because I wanted an investment (never do that it don't work!!). I had eight...sold last year..... seven of them made £6000.00 so yes it does work.
  4. great article


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