Investing in time: Bangladesh’s growing fascination with luxury watches
Buying luxury watches is becoming a growing trend in Bangladesh, not only as status symbols but also as assets, with affluent collectors and younger buyers engaging in vibrant online communities and exclusive events
Omar (real name withheld), a business owner in Dhaka, inherited the fascination for watches from his father.
"He fell in love with automatic watches while practicing medicine in the Middle East," he recounted. Now a collector himself, Omar owns a few luxury timepieces. "In Bangladesh, these watches are seen as a luxury, but for collectors, they are just the beginning. I currently own a Hamilton, an Omega and even a Rolex, which I recently added to my collection."
Luxury watches are increasingly becoming a tradition among affluent Bangladeshi families, often given as wedding gifts. Symbolising respect, longevity and success, brands like Rolex and Tag Heuer add prestige to wedding ceremonies, further embedding these timepieces into cultural traditions.
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While wealth was once showcased through land ownership and fine jewellery, today's urban elite have begun gravitating towards luxury watches — bold emblems of success and sophistication in a globalised world.
Take, for instance, once-prominent politicians like Obaidul Quader and Salman F Rahman, who were often seen wearing watches worth crores of Taka. Brands such as Rolex, Omega, and Patek Philippe are proudly displayed on the wrists of influential figures, telling stories of personal success and power.
Omar also sees watches as a smart investment.
"Everyone has their own interests — mine just happens to be timepieces. But it's not just about collecting. Many collectors I know, including myself, buy new or even pre-owned watches as an investment. These watches not only hold their value but often appreciate over time," he explained.
Meanwhile, online groups with thousands of members foster vibrant discussions, trades and exhibitions. And more events could provide platforms provide platforms for collectors to connect and celebrate their shared passion.
"By hosting exclusive events, workshops, and one-on-one consultations, we help customers understand the artistry and precision behind watchmaking," explained Syed Rahman, general manager at Mohammad & Sons, renowned for its extensive collection of designer timepieces.
"Education creates an emotional connection, allowing customers to truly appreciate the lasting value of their purchase," he added.
"We maintain the aura of exclusivity for high-end watch brands by curating a limited selection of high-demand models and focusing on exceptional customer service. Collaborations with brands to offer limited editions and bespoke pieces further enhance exclusivity," he further said.
A growing market
"Everyone has their own interests — mine just happens to be timepieces. But it's not just about collecting. Many collectors I know, including myself, buy new or even pre-owned watches as an investment. These watches not only hold their value but often appreciate over time."
Luxury watches, typically costing over Tk3 lakh, are now sold in high-end showrooms in neighbourhoods like Gulshan and Banani, which offer a lavish shopping experience, expert consultations, and warranties.
At the same time, digital platforms and Facebook groups have made luxury watches more accessible to younger buyers and collectors seeking rare pieces, though the rise of online shopping brings its own challenges, particularly with counterfeit watches becoming an increasing concern.
"The counterfeit market in Bangladesh is estimated to account for nearly 30% of all luxury watch transactions. To avoid falling victim to such scams, we recommend verifying serial numbers, inspecting the quality of the movement, and purchasing only from authorised dealers," Rahman shared.
Trusted communities like Watch Club Bangladesh and Watch Swap/Seek/Sell have become go-to platforms for watch enthusiasts.
The pre-owned watch market has also seen significant growth in recent years, driven by increasing appreciation and knowledge among collectors. For those open to purchasing a used timepiece, it's an excellent way to own some of the world's most prestigious watch brands at a more accessible price. Additionally, the sustainability aspect resonates with eco-conscious consumers.
"For many, the allure of owning a pristine, untouched piece outweighs cost considerations. Others value the history and character embedded in a pre-owned watch," Rahman noted.
However, the traditional practice of walking into a shop to purchase a luxury watch is gradually evolving with technology.
"Technology and digital presence will play a pivotal role in enhancing the customer engagement and streamlining the shopping journey. Online Augmented Reality (AR) tools will allow customers to virtually try on watches, while interactive websites and apps will offer in-depth details about each timepiece. Additionally, in-store digital screenings showcasing brand stories and the intricate watchmaking process will elevate the overall luxury experience," he explained.
Are watches good investments?
The idea of luxury watches as investment assets is gaining traction in Bangladesh. Limited-edition models, in particular, have proven to be highly lucrative, attracting buyers who see them as both status symbols and smart financial assets.
Beyond simply holding their value, some watches even appreciate significantly over time. For example, models like the Rolex Daytona and Patek Philippe Nautilus have seen their prices skyrocket in the resale market. A Rolex Daytona, originally priced around $12,000 a few years ago, can now fetch over $40,000 depending on the model and condition.
According to collectors, one of the biggest advantages of owning luxury watches is their global liquidity. Unlike cash, which is subject to strict regulations, such as Bangladesh's $12,000 annual carry limit, watches can be easily sold in different countries, often at a higher value than their original purchase price.
This flexibility has made luxury timepieces an appealing alternative asset for savvy buyers.
