Rupert warns of ‘craziness’ in second-hand market for watches
Buyers are paying huge premiums amid high demand for alternative investments
14 May 2023 - 16:44
Johann Rupert, who controls Swiss luxury goods group Richemont, has warned that prices for second-hand, high-end watches are distorting prices in the market.
Rupert was addressing analysts after the release of the group’s annual year results, which saw its operating profit surge 34% to €5bn...
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