In a notable convergence of finance and luxury, the Collectors’ Evening, held on 25 September 2024, at the Capital Club in Lagos, spotlighted the strategic significance of investing in high-value assets.
This exclusive event attracted a discerning audience of industry leaders and investors.
The evening’s agenda featured a compelling panel discussion led by Rolake Akinkugbe-Filani, the widely acclaimed host of Business Week on Arise News.
The discussion provided an in-depth analysis of the luxury investment landscape, addressing key topics such as asset appreciation, portfolio diversification, and market trends, while also addressing broader investment strategies across various sectors.
The panel comprised: Jennifer Obayuwana, Executive Director of Polo; Kayode Awogboro, Managing Director of ARK Insurance; Niyi Adenubi, Director/Co-Founder of VFD Group; Eddie Madaki, Prestige Manager at William Grant & Sons Brands Ltd; Dr. Toyin Sanni, Founder of Emerging Africa Group; and Abiola Adekoya, Partner at Genea Family Office.
In response to a question posed by Rolake about purchasing power among a resilient demographic and how Polo excels in the watch industry—highlighting watches as symbols of prestige and viable investment propositions— Jennifer Obayuwana offered her expert insights:
“Luxury assets have outperformed most asset classes over the past ten years,” she remarked. “Institutional investors are increasingly paying attention to luxury assets, particularly watches.”
“But what makes watches collectible? The first thing is heritage and historical value. We refer to the ‘Holy Trinity’—Patek Philippe, Audemars Piguet, and Rolex. Patek Philippe has redefined watchmaking. The Geneva Seal serves as a barometer to indicate that the watch has been made in the Canton of Geneva, is Swiss-made, and has undergone the rigorous protocols of fine watchmaking. Patek drew inspiration from this and created their seal, thereby placing them at the highest echelon of watchmaking.”
“Auctions also play a significant role in price benchmarking and maintaining the desirability of these brands. Additionally, there’s the secondary market. The demand and supply dynamics within the secondary market drive the appreciation of these brands.”
Speaking on the multifaceted nature of art as a collectible, Kayode Awogboro, CEO of Ark Insurance, emphasized its significance in preserving cultural history and its evolving role in Nigeria’s creative landscape.
“When we talk about art, it encompasses everything from collections and individual pieces to reserves, national galleries, and archiving. Without these components, there’s no history,” he noted.
“Today, art in Nigeria extends beyond traditional paintings; it also includes the impactful contributions of our music and film industries.”
“As a result, the value of these assets is set to rise exponentially. Those who invested in art over the last few years have witnessed its resilience against inflation and the devaluation of the Naira. In insurance, we focus on effective risk management. Our goal is to not only provide coverage but also to ensure that your assets retain their value.”
Following the discussion, a stimulating Q&A session allowed attendees to engage directly with the panelists, gaining deeper insights into luxury asset investment.
The evening concluded with formal closing remarks from the Managing Director of Polo, John Obayuwana, who extended his heartfelt gratitude to the distinguished panel of experts, collectors, and guests for their presence at the event.
“Having survived COVID-19 and learned so many of the lessons it had to teach us, we now find ourselves in a world beset with turbulence—wars, climatic challenges, and here at home, an economic meltdown,” he said. “We asked ourselves, ‘What are those classes of assets that can hold their own in this sea of turbulence and confusion? What items can we rely on to maintain steady value beyond mere enjoyment?’”
“And so, we thought it best to invite distinguished experts, each accomplished in their own right, to guide us through this myriad of options. This is why we put this evening together—and it won’t be the last.”
He also emphasized the significance of happiness as the greatest asset of all: “The joy you bring to the world, the beauty you contribute, has lasting value. When looking at fine jewellery or watches—whether you’re starting with entry-level watches—focus on what brings you joy, on what makes you happy. Because, at the end of the day, that’s what this journey is about: experiencing supreme happiness.”
About Polo
Polo Limited is the foremost luxury goods company in West Africa with exclusive partnerships with some of the world’s most prestigious Swiss watch and jewellery brands, including Rolex, Cartier, Piaget, Omega, Chopard, IWC, Montblanc, Longines, Frederique Constant, Messika, and more.
Leave a Comment