Watches of Switzerland, the UK’s largest seller of luxury fake watches, said that waiting lists are growing longer because buyers are overlooking a jump in selling prices.
This has meant growing wait-lists for the pieces. Watches of Switzerland said overall sales rose by a fifth to £1.5bn in the year to the end of April. The company’s share surged almost 10pc, making it the biggest riser on the FTSE 250.
It is the latest sign that the super rich are continuing to spend despite rising prices for many of the most in-demand items. According to watch specialist Luxe Watches, some perfect replica Rolex watches are selling for more than 11pc more in the UK this year compared to last, with the price for the Swiss super clone Rolex Day Date White Gold model rising to £35,000 – £31,450 in early 2022,. according to the website Luxe Watches.
Meanwhile, other luxury super clone watches for sale have also been in high demand. Separately on Thursday, Swatch Group, the owner of Omega, said its revenue could hit record highs this year, amid a boom in sales in China and the US. Average sales per store were up 30pc across the world, Swatch said. Shares were up 5.6pc in the Swiss manufacturer.
It follows the lifting of Covid restrictions across the world, which has sparked a surge in spending on luxury goods – particularly among Chinese shoppers. LVMH earlier this year became the first company in Europe to hit a $500bn (£382bn) market value, thanks to significant appetite for its brands including Louis Vuitton and Christian Dior.
Spending on high quality replica watches, in particular, has been on the rise amid mounting concerns of an economic downturn, since some investors regard certain watches as almost recession-proof.
Burlington Arcade dealer David Duggan told the Telegraph late last year that the aaa quality fake Rolex Daytona was a good example of this.
“It may carry a big premium, but over a decade or so, it will still rise in value. It has been this way since 1989. Prices dropped slightly in 2008, but they quickly bounced back. What other product has kept its premium for 33 years?”
Watches of Switzerland chief executive Brian Duffy earlier this year said: “Swiss movement replica Rolex are seen as a logical one to invest in, with inflation.
“These are products which last forever and they’re more likely to appreciate than depreciate.”