Why Swiss watches are clocking up more sales in the US
After more than a decade, Americans are once again spending more on Swiss watches than anyone. One big reason is that they are thinking differently about them. Call it less bling, more investing. During the pandemic in the US, there has been a boom in the value of collectibles of all sorts — from baseball cards to vintage video games. The reasons are many, but one central catalyst is that people had more time and fewer ways to spend their money. That led to almost anything with scarcity being seen as an investment and finding a robust secondary market. The rising tide lifted Switzerland's high-end watch industry, with prices surging. Watches by Swiss watchmaker Audemars Piguet are displayed in Geneva. “It has become an investment piece,” said 68-year-old Albert Ganjei, who, as founder of Boston-based European Watch Company, has been selling timepieces for nearly three decades. “It has totally changed.” While some watches are so coveted that they sell for millions at auction — a Pa...