SINGAPORE, Sept 12 (Bernama-BUSINESS WIRE) -- The WatchFund Singapore (SG), the world’s largest luxury watch investment vehicle of its kind, and Konvi, Europe’s leading fractional luxury assets investment platform, have today announced they have jointly reached a milestone of €2 million in Konvi’s watch assets under management (AUM).
Demand for luxury watches as investment vehicles has never been higher, as more investors seek to cash in on the strong returns produced by the asset class. The Swiss watch industry grew by 7.6% last year, reaching record export highs of CHF 26.7 billion. The market is forecast to continue this trajectory with 35% of Gen Z eyeing up luxury watch investments.The WatchFund SG enables high-net-worth individuals to purchase money-cannot-buy watches or ultra-high-end timepieces at prices that most people can’t obtain. Through this partnership The WatchFund SG is supporting Konvi in its mission to democratise the luxury watch space and empower a broader range of investors with access to these lucrative investment opportunities.
Thanks to this collaboration, retail investors can purchase joint ownership of luxury watches via Konvi for as little as €250. These investors purchase investment-grade watches from The WatchFund SG, which are then securely managed and stored by Konvi. The timepieces are then sold by Konvi after a set appreciation period and profits are returned to investors. Investors on the Konvi platform, through a voting mechanism, will decide as a collective group on all aspects of their investment, such as the watch model itself, accepting a sale offer, and electing the storage solution.
Previous examples of purchased and sold watches from The WatchFund SG include the Cartier Tortue Monopusher Chronograph, the De Bethune DB28 Tourbillon, and the Richard Mille RM-004. Some of these pieces can retail for upwards of €250,000 and, when stored and sold correctly, have historically traded for higher asking prices.
The WatchFund SG Founder, Dominic Khoo, commented: “Our collaboration with Konvi has blown open the doors to a market that has historically only been available to the wealthiest of individuals. This partnership has enabled Konvi to offer what we define as investment-grade watches to a new group of investors in Europe, a segment that we don’t yet have the capability of catering for in Singapore. These purchase milestones are a testament to the rising demand for ultra-high-end timepieces and trading watches as uncorrelated and defensive assets.”
No comments:
Post a Comment