Millions of dollars worth of Rolex watches, Louis Vuitton and Hermes Birkin handbags, high-end shoes, jewelry and lavish items broke records this weekend at Lloyds Auctions in one of the biggest sales auctions of all-time luxury designers.
More than 350 high-end watches and handbags have gone under the hammer with a Hermes Kelly Crocodile handbag selling for $50,000.
“We haven’t seen another auction that has had as many quality luxury and designer items as this one, we are constantly seeing more and more high end brands such as Rolex, Audemars Piguet, Hermès, Louis Vuitton come to auction as they achieve these record prices across the board,” said Mr. Lee Hames, Chief Operating Officer of Lloyds Auctions.
“The demand for luxury collectibles is huge, people are willing to pay more than the original retail price because they can have it now, they don’t have to wait long waiting times” , Mr. Hames continued.
Another perfect example of this is an all-new 2022 Chevrolet Stingray C8 3LT Corvette that is going under the hammer unreservedly this Saturday where offers are already over $75,000 over the original retail price due to waiting periods of 2 years on the model.
Other featured items sold at the designer auction included other Hermes Birkin bags, one for $18,600 and another for $15,700 and the Rolex Deep-Sea Dweller for $16,000.
Knight Frank’s 2022 Luxury Investment Index report said fine wines and watches led the biggest increase in investment, with both rising 16% throughout the year, handbags increasing asset performance by 7%.
According to the Knight Frank report, total watch sales at auction worldwide in 2021 increased by 54% over the previous year, with Rolex Daytonas followed by Explorers and Submariners being the models expected to continually increase in value. the most overall.
Knight Frank reported in its 2021 Wealth Report that watches were the 3rd most popular passion investment after classic cars and art and over the past 10 years the average investment has increased by 89%.
If classic cars are more your passion than building your portfolio with one of the 400 classic cars that will go under the hammer on Saturday 25e June as of 10:00 a.m. including one owner matching numbers genuine 1985 Holden HDT VK SS Group A Commodore ‘Blue Meanie’ with the 2022 Chevrolet Stingray C8 3LT Corvette.
You can see Peter Brock’s Blue Meanie here.
/Public release. This material from the original organization/authors may be ad hoc in nature, edited for clarity, style and length. The views and opinions expressed are those of the authors.
Comments are closed.