What does this mean for the luxury market? The market is showing a definite improvement, which means a whole lot of people on Wall Street are doing better than around March of this year, when the Dow sunk into the mid 6000's. I am not an economist's, far from it, but I am a hopeless optimist sprinkled with a good dose of realism.
My feeling is those fellows on Wall Street and all the millions of businesses and families effected by its rise and fall, are suffering from spending deprivation. The sale of luxury items have fallen dramatically, but at the expense of the psyche of the unspendor. That much needed regular yearly trip to the Bahamas- cancelled; the Holiday office party- scrapped; large birthday bash- a tiny muted affair around a pool table; slightly over the top birthday present for a loved one- ungiven but not forgotten. All those things cancelled, and what is left is a slightly depressed, slightly wrinkled unhappy individual. Now there is a glimmer on the horizon - hope, and with hope comes a hesitant feeling of elation.
Stock portfolio's begin to unsag, and the tired person slowly shakes off the ashes of despair and awakens.
That Bahama vacation so terribly needed becomes a reality, and that shamefully belated gift for that someone special is within reach.
And it is on this vein I may add that a luxury watch is the perfect gift to give. A luxury watch provides a longevity that surpasses most other gifts. Electronics become so yesterday within the blink of eye; clothes - risky; jewelry- real pretty, but so much more with the function of a luxury watch.
It will take some time before the economy rights itself, and thus when you feel the desperate need to splurge just a little, splurge on a luxury watch.