The secondhand market for luxury watches has reportedly been flooded in the last few months as a result of the crypto collapse
Photo: Leon Neal/Getty Images Luxury-watch boosters like to say that five-figure pieces, with only a limited number made every year by the Swiss giants, make solid investments in times of high inflation.
According to Bloomberg, the secondhand market for luxury watches has been flooded in the last few months as a result of the crypto collapse. The watch-selling platform Chrono24 told reporters there that the dip has “directly impacted pricing of luxury watches from brands like Rolex and Patek Philippe.” Supply for prestige watches like the Rolex Daytona and the Patek Nautilus 5711A is “now much larger,” according to the company.
The increase in the resale supply is a stark turnaround compared to late 2021 and earlier this year, when a booming stock market and crypto prices, followed by the early shocks of inflation, increased the cost of secondhand Swiss luxury watches, which were being sought out as an investment. Now, increased interest rates and multigenerational inflation highs have hit other parts of the luxury sector.
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