I think it's good and bad. The secondary is needed, but it has gotten a little out of hand with some of these pieces. I'm looking forward to the recalibration of the market.
If it even shuts down one shady grey dealer, good, but otherwise don’t care. I’m getting more calls now than ever, so it’s definitely impacting ADs too.
I've been reading that more and more people are "getting the call". I've not gotten my call as of yet, but I did say I wanted my watch for my birthday in September so maybe next month or two fingers crossed.
I bet if you politely remind your AD, you may get a call sooner. :-)
It's awesome if you are a buyer......
I don't buy hyped watches, and definitely don't buy used goods over the retail price, so it impacts me in no way.
2 sides to everything... a Yin and it's Yang.
If you wanted that Rolex, PP or AP, now is a great time to get one.
If you need to sell one to finance something else, not so great.
I've been waiting for the call for 3 years. At this point with the economy in flux (to put it charitably), I am not as eager to get the call and plop down $10k for the privilege (but who am I kidding).
On the main topic, we have been in such an inflated bubble for the last few years that I think it's good that prices come down to normal levels again.
I don't care so much about the watches themselves, but the underlying reasons why the market is dropping are of course reason for concern.
The more I watch the economy, inflation, interest rates, supply chains, etc., the less likely I am to respond when I get the call.
Maybe the ADs missed their chance with me, not vice-versa.
Demand vs. Supply. I am guessing supply is catching up to demand. Or demand is significantly less than before..
Yes, the tables have turned. It'll be the same with the housing market bubble.
I personally don't believe watches are good investments, and they certainly shouldn't have ever been treated as such.
People seemed to be of the belief that certain watches would always go up in value. Nothing can continue to go up in value forever. With collectables especially (which is what watches really are; not commodities), the market will always be dictated by fads and trends, which by their nature are fickle.
I've been popping in every month since February. I also bought a seiko, some diamond jewelry, and had a service done on my Breitling. They know I want it for my birthday though so I'm thinking soon. I'll be popping in this month.
Thanks, I hope I get it. My AD has been known to really work with people on getting them what they want. Prayers up and fingers crossed!
I also agree on now's not the time, but like most things, this cycle will happen again, hopefully without the high as heck inflation.