Ultra-Luxury Stuff Takes a Hit

Prices on Ultra High-end Cars, Watches, Yachts Down 12% Since May, Mid-end Luxury Showing Strength, up 6%

STOCKHOLM, September 2 -- A global comparison of more than 1700 pre-owned luxury items listed for sale on JamesList.com reveals that ultra-luxury cars, watches and yachts have dropped dramatically in price since May of this year, while a basket of standard luxury goods has appreciated in value. Industry experts have maintained that the upper end of the market has weathered the financial storms better than any other segment. A detailed analysis of items for sale from dealers worldwide on JamesList, the world's largest luxury marketplace, says otherwise.

A basket of ultra luxury goods, selected to be representative of the upper end of the luxury market has dropped by more than 12% since May of this year. The basket includes Rolls Royce Phantom motorcars, Rolex Daytona watches and Mangusta yachts amongst 17 other products. A more moderate luxury basket of items like Porsche 911 Carerras, Rolex Datejusts and Sunseeker yachts instead became 6% more expensive in the same period.

"Demand is resurgent for well-priced sports cars, Swiss watches and midsized boats, this segment was the first to correct after the financial turmoil hit and is now showing signs of recovery," said Noam Perski, CEO of JamesList.com. "Ultra luxury market pricing stayed at very high levels for some time, and has just begun to come down. Even here we see deals being made, but at more realistic prices. "

The comparison baskets were comprised of more than 1700 pre-owned cars, yachts and watches posted to JamesList.com from May 1 to September 1 of this year. JamesList monitors price changes on existing listings and new items listed for sale, with a focus on the luxury market.

    
                   Standard Luxury Basket     
     
            Porsche 911      Steel Rolex       Sunseeker
              Carerra           Datejust         Yachts
    May 1    55 631 EUR        2 305 EUR      642 469 EUR  
    Sept 1   57 891 EUR        2 550 EUR      652 493 EUR                          
                     +4%             +11%              +2%  
                                   
                     Ultra Luxury Basket
    
         Rolls Royce Phantom     Gold Rolex          Mangusta
              (incl Drophead)       Daytona            Yachts 
    May 1     391 823 EUR         29 376 EUR    6 503 000 EUR
    Sept      349 038 EUR         26 971 EUR    5 365 556 EUR       
                      -11%                -8%             -17%

JamesList is the world's largest global luxury marketplace with more than 20 000 items for sale and rent from 350 professional dealers in 113 countries. We connect buyers and sellers; we take no commission and are not involved in any transactions. JamesList has a worldwide perspective with headquarters in Stockholm, Sweden, offices in Marbella, Spain and representation in London, Frankfurt, Singapore and Miami.

http://www.jameslist.com