Luxury Timepieces Transform into Heritage-Worthy Assets in UAE
The luxury watch market is witnessing a significant surge, with the UAE being no exception. Younger individuals are eager to acquire their first luxury watch, while seasoned collectors continue to expand their collections.
In the heart of Dubai, Byron James, an international family lawyer, shares a passion for luxury watches. Over the years, he has amassed several timepieces, including his first serious purchase - the Patek Philippe Nautilus 5711, introduced in 2006.
Official retailers like Rolex and Patek Philippe face limited availability, with some even maintaining waitlists. However, the pre-owned luxury watch space, such as WatchMaestro, offers a more immersive buying experience and unique pieces like the one-of-a-kind Audemars Piguet Royal Oak Tourbillon.
The discontinuation of the Patek Philippe Nautilus 5711 in 2021 further increased demand and market prices. As of spring 2025, market valuations for the 5711 in good condition generally fall between Dh367,000 and Dh587,000.
The pandemic and the rise of crypto have accelerated the trend of viewing watches as both stability and identity. Emerging brands and independent watchmakers are also gaining attention, with collectors becoming more curious about movement innovations, rare materials, and pieces with a story.
Hassan Akhras, a watch consultant, attributes the cultural shift in the UAE's luxury watch market to a unique mix of high disposable income, economic optimism, and a rising awareness of luxury as an investment. The overall luxury sector growth in the UAE, fuelled by strong wealth accumulation, record real estate investment, and a rising affluent population, creates a vibrant ecosystem where luxury watches are popular status symbols.
The social media presence of Kevin, the founder of WatchMaestro, has created a community of collectors and enthusiasts. With over 200,000 followers and millions of views on platforms like Instagram and TikTok, Kevin shares videos about watches, negotiation techniques, and insights into the business.
WatchMaestro, launched three years ago from a small office in Dubai's JLT district, has grown significantly. Byron James, who connects his professional mindset with his passion for watches, states that both law and watchmaking leave no room for error, and details matter.
The value of a piece like the one-of-a-kind Royal Oak Tourbillon is determined in an auction environment, where collectors bid based on what they believe it's truly worth. This rarity places its value less on brand pricing and more on collector demand, provenance, and market timing, as evident by its multi-million-dirham figures at international auctions.
In conclusion, the surge in the UAE's appetite for high-end luxury watches is driven by several key factors, including rising global demand, brand heritage and craftsmanship appeal, growing social media influence and celebrity endorsements, overall luxury sector growth, the UAE's dynamic luxury retail environment, high disposable income, and a culture embracing luxury lifestyle. While direct UAE-specific data on watches is limited, these broader market insights from the global watch market, combined with the UAE's known economic growth and luxury market expansion, explain the surge in appetite for luxury watches. The increase in luxury consumerism and digital/social influence are strong contributing factors in recent years.
- In the digital space, Kevin, the founder of WatchMaestro, has built a community of collectors and enthusiasts through platforms like Instagram and TikTok.
- Emerging brands and independent watchmakers are capturing the attention of collectors due to their movement innovations, rare materials, and unique stories.
- The luxurious sector in the UAE is thriving, fueled by strong wealth accumulation, record real estate investment, and a rising affluent population, making luxury watches popular status symbols.
- financial institutions, such as banks and personal-finance advisors, are seeing an increased interest in luxury watch purchases as young individuals are entering the market.
- The technology sector has also impacted the luxury watch market, as collectors and enthusiasts are turning to social media, finance apps, and online platforms for news, reviews, and engagement in sports-betting related to watch brands and events.
- As the trend of viewing luxury timepieces as both stability and identity continues, the demand for high-end watches is expected to remain strong in financial and digital spheres, as well as in traditional entertainment and sports circles.
