Considering Hongkongers' passion for collecting and investing, it was only a matter of time before banks and financial advisers started to cater to both interests by including collectables - art, vintage cars and the like - when assessing clients' portfolios, and hosting seminars on investing in such items.
Many people who have done well in the stock market are keen to divert some gains to fun vehicles that can maintain value when share prices undergo wild swings. That's why Citic Ka Wah Bank, for example, scheduled a series of talks on alternative investments, starting last month when an expert from Sotheby's addressed affluent clients on luxury watches.
'Given the large number of people who own branded watches in Hong Kong, we thought that this would strike a chord,' says Zoe Lau Yuet-ping, head of wealth management and strategic planning at Citic Ka Wah's retail operations. 'Watches are wearable, a few identifiable brands exist that do well in the secondary market and authentication is easy. So it's relatively easy to grasp.'
Lau's interest was also piqued when attending a similar talk and she has since amassed a small collection. 'I used to collect shoes and clothes but I realise those things depreciate in value. As a fashion accessory, a watch keeps its value if you focus on some key brands.'
It's no surprise many collectors here seek timepieces - Hong Kong is the second-largest market in the world for luxury watches.
Carson Chan Kai-Shun became fascinated after coming from Los Angeles 10 years ago. 'I used to collect cars but had to give that up here due to space constraints. I got interested in the mechanical aspect of watches,' says Chan, who works for an auction house.