The crisis laden world has witnessed people shifting their understanding of value-laden goods. Investing in rare and exquisite timepieces is emerging as a consequence of the pandemic ridden world where most are unsure of a bounce-back any time soon. As Avi and Co completes its decade-old journey, owner Hiaeve is focusing on educating people on the hidden value of luxury.
There is a distinct line of difference between “luxury” and the associations that we have with “luxurious brands.” By luxury, individuals seek quality, prestige, elitism, and the “art of living”, while when they step into luxury brand stores, they are on the look-out for differentiated products characterized by excellent quality, exclusivity, uniqueness, rarity, craftsmanship in the manufacturing process. Avi and Co. was founded by Hiaeve when he was just 16 years old. Though keeping and admiring attractive timepieces is a hobby to many, very few can be futuristic about their hidden potential. One could say that belonging to a family of jewelers helped him develop an innate understanding of items that hold value and appreciate the worth of such products that many of us might just glance over. At present, Avi and Co. boasts of attracting stardom on its store floor. Celebrities from the field as diverse as sports to entertainment can be seen doing Avi and Co’s timeless timepieces and making their remarkable Page 3 appearances.
What is value beyond the price tag?
In a product-oriented perspective, luxury brands are traditionally associated with the presence of positional goods, that is, goods whose value to the owners is linked to the perception that others have of the products themselves. The luxury watches at Avi and Co. are meant to attract the consumer’s gaze by ensuring that their satisfaction is the result not only of the usefulness and qualitative characteristics of the luxury product, but also, and especially, of the social status and prestige that it conveys to the owner. As Avi and Co completes a decade of making its owners look an edge over their peers, it unfolds several other plans to satisfy its existing and potential customer demands and tastes. Hiaeve believes that luxury products have a value that is beyond the value of just money. It has incremental value and is often considered as an investment in the long run. With the recent economic fallout and several such disturbances in traditional investment opportunities, there is an emerging segment that is eyeing luxury products that they can invest as a keepsake and derive higher revenue in years to come. Just as people traded in coins, stamps, art relics, watches are also gradually entering the niche market as potential investment options that could be traded for their differentiated design, quality, and storytelling attributes at a much later date.
Luxury watch as a potential investment product
As the luxury watch market is still reeling to recover from the pandemic struck world, there have been new avenues of opportunities. Hiaeve is contemplating on creating educational campaigns wherein he could create awareness on investing funds in luxury watches to remain immune from the instability of stocks and shares. There have been few clients who see promise in investing in luxury products that retain their value over time and does not get affected by the economic downturn.
As most innovations were born out of the crisis, perhaps the world of luxury watches can boast of one such innovation derived from the 2019 global health scare.