News Summary

• Luxury watches increasingly viewed as symbols of wealth, social status and success.
• Limited supply of brands such as Rolex, Patek Philippe, Audemars Piguet and Richard Mille has also helped sustain strong values in the secondary market.
• Rising demand for luxury watches supported by the growth of the country’s high-income consumer segment and a new generation of wealthy individuals.
• A recent UBS Global Wealth Report found that the number of dollar millionaires in Türikiye reached 93,000.