How Used Luxury Watches Became A $20 Billion Industry | Big Business |
I would like to share this video really amazing was brilliantly put together
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STEV3 KING
Name is Steve, im a watch collector and enthusiast of many, many kinds of watches. My collection consists of wind up, automatics and quartz & diver timepieces.
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Last active: 3 months ago
7.09” / 18.00 cm
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I hate that venture capitalists have taken our hobby away from us. They’ve done this by buying up hundreds of millions of dollars worth of desirable watches and hoarding them away in safes to cause artificial scarcity. They made back door deals with ADs to dry up the supply of new watches right from the source so we are forced into their overpriced, artificial used market.
It’s not the individual flippers that are the problem in the watch hobby. It’s the giant, venture capital funded, used watch dealers that people love to praise that have taken so many collecting opportunities from so many enthusiasts.
Isn’t it just economics 101? Supply<Demand
This story feels about 8 months late to the party.