Anant Ambani’s ₹1.30 crore President’s Watch steals limelight on birthday:Why do rich people buy luxury timepieces? Is it just a status symbol or smart investment strategy

Luxury watches are more than just a wrist band that tells time. In India, the love for these high-end pieces is growing every day. From billionaire businessman Mukseh Ambani’s younger son Anant Ambani to bollywood actor Salman Khan, all are known for showcasing luxury timepieces at various occasions. Recently, Ambani’s younger son Anant Ambani’s ₹1.30 crore President Watch from the house of Rolex became viral on social media. Why do companies make luxury watches? But do you know why luxury watchmakers manufacture such costly timepieces which are beyond the reach of common man. Companies like Rolex or Patek Philippe don’t just sell watches, these sell art as well. Craftsmanship: These watches are often made by hand using expensive materials like gold, platinum, and sapphire glass. Sapphire is the best material for scratch resistant purpose. Status Symbol: One more reason people buy these opulences is to showcase their success. Investment: Unlike a phone that loses value, some luxury watches actually become more expensive over time. Yes! They appreciate in value. According to a report of online watch marketplace ‘Chrono24,’ mid-range timepieces have given handsome returns to investors. According to the report, during the period from 2018 to 2026, the price of the ‘Tank Vermeil’ watch of Paris-based jeweler company Cartier saw an increase of about 300%. While, the value of Rolex’s best-selling Datejust has given returns of 59% from 2018 till now. Luxury Watches With One Of Highest Returns Since 2018: Who buys luxury watches in India? Luxury watches are made for celebrities, successful professionals and watch lovers who appreciate fine engineering. In India, many people buy them for special occasions like weddings or as gifts. Real vs fake: How to differentiate? Fake watches often called first copies can look very real, but here is how you can spot the difference: The Sound: A real luxury watch is very quiet. If you hear a loud tick-tock, it might be a fake. The Weight: Real luxury watches use heavy, solid metals. Fake ones are often lighter because they use cheaper materials. Are there fake Chinese watches in India? And the million-dollar question! Yes. Are there bogus Chinese watches in India. Well, large quantities of bogus or counterfeit watches made in China and other places often enter the Indian market. These look like luxury brands but are manufactured using cheap internal parts. India’s luxury watch market The watch market in India is rapidly growing. According to market research firm, Mordor Intelligence, India’s total watch market is worth over $4.6 billion or approximately ₹42,000 crore.