Its officials say they have more than EUR1 million budget to develop the business over the next 18 months.
“Some luxury watches have seen as much as over 100% increase in prices over the last few years, so some investors have been comparing them with other passive investment that most often yields less than 10%. We expect the market to continue to grow, but it won’t be surprising to see price corrections, either,” says Alexandra Bran, communication director of EraVault.
Industry experts say Rolex, Patek Phillipe, Audemars Piguet and Richard Mille are the luxury brands in highest demand at the moment, as confirmed by prices and waiting times of up to several years.
The best-selling watch brands in Romania are Audemars Piguet, Vacheron Constantin, Patek Phillipe, Richard Mille and Cartier.
(English version by Loredana Fratila-Cristescu)