In COVID, we have a lot happening. There have been sales from auction houses such as Bonhams who sold a Matt Geranium Alligator Birkin 35 by Hermès at £25,062.
Watch houses such as IWC, Piaget, Cartier and other maisons released several new pieces with a main retail focus on Asia which is a major and important market for luxury watches. In July this year, Sotheby’s had an online auction and sold a Rolex Daytona “John Player Special” for $1,545,723, a record price for a watch sold at an auction, and sold at the first online auction.
One industry that seems to be flying high is aviation, specifically private jets. There has been an increase in the use of private jets by traditional uses and a large number of new private jet users.
Joshua Herbert, the founder and CEO of Magellan Jets (US) states that in April and May there was no business. Before COVID the company had a lot of clients travelling to different destinations globally.
“We have had an increase in clients from July, August and September. New customer acquisition is high for business roadshows and short day trips,” expounds Herbert. “This new client base is well travelled but were not private jet clients. Our business now is 40% business and 60% leisure, it is mostly a client base of 50 years and older.”
At Magellan Jets, annual membership starts at $8500 dollars with a guaranteed plane and flight price within 10 hours.
“We have new members and demand for private jets is high, and the demand is increasing,” says Stuart McNeill, CEO Knightsbridge Circle. “The amount of money spent depends on the outer and size of the aircraft. We have members who spend $1m+ per year on private jet charters.”
Knightsbridge Circle is an exclusive members only concierge company in London, UK that caters to a global clientele.
“We evolved quickly to the new demands. Instead of organising hotel and restaurant reservations, we were arranging virtual wine tastings, COVID tests, delivering fitness equipment to members homes and enrolling them into online educational courses,” adds McNeil. “But the demand is high for private jets since COVID. Passengers who in the past would have flown Business/First class commercial are now using private jets. Business travel is non-existent now. Everything we have done has been leisure. Our busiest destination this summer was the South of France.”
In COVID, clients of the concierge company spend their vacation in Mediterranean during summer.
“Now the focus is turning to Africa, Indian Ocean, Caribbean as the weather there is very pleasant,” he added.
On the Magellan Jets you can enjoy different experiences such as masseuses on board and most of their planes have beds.
“Discretion is our strength. Many of our planes have beds in one room and the other room has TV and this room can be for the nanny or PA, often with a bed too,” explains Herbert. “On a recent trip to South Africa during COVD, our clients were served with fine dining South African cuisines to prepare them for their trip.”
Magellan Jets also have ambulance services.