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Watch sales rise at fastest annual rate for 15 months in January

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Watch sales across all price points rose at their fastest annual rate for 15 months in January. 

GfK data reveals that sales rose by 7.4% across Great Britain, with the luxury end of the market once again driving growth.

The average price for every watch sold in January was 16% higher than the same month in 2018, contributing to a 14.9% rise in the value of watches priced at £1000 and over.

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Sales in the sub-£500 watch sector continued to decline, with another drop of 9% in January compared to a year earlier.

 

 

 

 

Powering sales of luxury watches compared to dwindling sales of inexpensive pieces has transformed the market in recent years. In 2013, watches priced at over £1000 accounted for under half the market. In 2018 they accounted for 72% of a market worth £1.52 billion in Great Britain.

 

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