for now. How about in 20 years? What will be the luxury watch in 2042? You don't know, nor do I. The market is crazy now, because the global economy is good and people cant wait, and get obsessed by SoMe to actually get whatever they want, at whatever costs.
Perhaps in 2040 a Rolex Sub retail in steel will be 50K and second hand 10k. And then I'd rather buy a Sub second hand 10k in that not so distant future.
There is probably the global inflation that accounts for it, but the global demand seems to be the reason too. Investors like Konvi that are coming up are also dangerous for the industry. Watches are not intended to remain in a safe and speculate on... they tell the time
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