hey watch guys - crypto crash helping availability?

[id10t]

https://slashdot.org/story/22/08/02/1828217/the-crypto-collapse-has-flooded-the-market-with-rolex-and-patek

"The collapse in cryptocurrencies is easing supply of the most sought after watches on the second-hand market, depressing prices for hard-to get-Patek Philippe and Rolex models. From a report:
The supply of trophy watches such as the Rolex Daytona or Patek Nautilus 5711A "is now much larger," online-watch trading platform Chrono24 said in an emailed statement. The recent swoon in cryptocurrency valuations "has directly impacted pricing of luxury watches from brands like Rolex and Patek Philippe," said the company, which is based in Karlsruhe, Germany, and has more than half a million watches listed for sale on its website. The price decline for the most sought after models is the latest indication that the once soaring second-hand luxury watch market is starting to lose pace. Surging valuations for crypto currencies had minted a new class of luxury buyers, leading to an unprecedented price increase for models particularly from brands like Rolex, Audemars Piguet and Patek. Now that many digital tokens have been hammered, these consumers are going into reverse."

[GH85Carrera]

Even reduced a Patek Philippe is insane price for most models.

[sc_rufctr]

We are currently experiencing a "correction" in the high end watch market.

[pwd72s]

I should care about 6 figure watches?

[WPOZZZ]

Originally Posted by pwd72s

I should care about 6 figure watches?

At 50% it will be a 3 figure watch.

[Arizona_928]

With new spending bill. Crypto should rebound before the nail in the coffin of American society....


Which reminds me of the scene in the cartoon Hercules. Walks down the street in Thebes where a scalper flashes him in a trenchcoat, "wanna buy a sundial?". Because that's the only thing going to be of value after this Rollercoaster.

[aschen]

Yes of course, especially these hype watches (nautilus, royal oak, daytona). Completely ridiculous and foreseeable by any rational person. My guess is you will be able to buy any of these at msrp in the next year or so.

More sane watches are down 20ish percent as well if you want to treat yourself to a speedy or something.

Thankfully i am on a g shock kick lately

[MBAtarga]

Originally Posted by WPOZZZ

At 50% it will be a 3 figure watch.

I wish your math was correct, however, not too accurate in this situation.

[WPOZZZ]

Originally Posted by MBAtarga

I wish your math was correct, however, not too accurate in this situation.

Me too.

[sc_rufctr]

Originally Posted by pwd72s

I should care about 6 figure watches?

Well no but they also talk about the stainless steel Rolex's in the video. They are now just above retail and that hasn't been the case for more than 7 years.

What this means is that a lot of "watch traders" (flippers) have taken a big hit.
- "Easy come easy go".

[sc_rufctr]

Originally Posted by aschen

Yes of course, especially these hype watches (nautilus, royal oak, daytona). Completely ridiculous and foreseeable by any rational person. My guess is you will be able to buy any of these at msrp in the next year or so.

More sane watches are down 20ish percent as well if you want to treat yourself to a speedy or something.

Thankfully i am on a g shock kick lately

[pwd72s]

Here ya go...

https://www.gearpatrol.com/watches/a590001/g-shock/

[masraum]

Originally Posted by wpozzz

at 50% it will be a 3 figure watch.

lol

[masraum]

Originally Posted by pwd72s

I should care about 6 figure watches?

No, only 6 figure cues.

[masraum]

Originally Posted by sc_rufctr

I understand that it's supposed to be a good watch, like a cross between a Toyota and a tank. A lot of them look like they are 3/4" thick and 2" across. And a lot of them remind me of "tacticool" stuff. Not my thing. THere are some that are more subdued that I could see myself wearing.

[aschen]

I love the old school square gshocks just because I am trying to live my life in the 80s/90s

Ive been wearing this absolutely ridiculous bright orange nasa gshock for a few weeks now. I've been have a good time being a bit flamboyant. I have too many nice watches but they are all very reserved plain designs. I also dress really plain / neutral so its been fun wearing something so out of character for minimal $$. Plus its fun to play with the features without going full smart watch which is not for me

[nota]

high end video cards used in mining are being dumped [sort of]
no more over retail instant sell outs do to the crash of the coin prices

at lease one can buy them near retail now

[aschen]

collectable and interesting cars are next I think, but to a lesser degree

[pwd72s]

Originally Posted by aschen

I love the old school square gshocks just because I am trying to live my life in the 80s/90s

Ive been wearing this absolutely ridiculous bright orange nasa gshock for a few weeks now. I've been have a good time being a bit flamboyant. I have too many nice watches but they are all very reserved plain designs. I also dress really plain / neutral so its been fun wearing something so out of character for minimal $$. Plus its fun to play with the features without going full smart watch which is not for me

Definitely NOT mugger bait. A video on G shock watches..I had no idea there were so many choices.

https://www.youtube.com/watch?v=Aku8fY8v1Lk&ab_channel=UponTop

[sc_rufctr]

Originally Posted by aschen

collectable and interesting cars are next I think, but to a lesser degree

Sorry but I have to disagree with this prediction. There are only so many classic & interesting cars. Most new cars are designed to be snapped together like Lego in far off labor cheap countries. The ones that are not are stupidly expensive to begin with.

Do you think Porsche or any other mainstream manufacturer would build a car with an air cooled engine ever again?
Companies like Singer & RUF are not mainstream.

BTW Rolex makes somewhere around 800,000 watches a every year.

Originally Posted by masraum

I understand that it's supposed to be a good watch, like a cross between a Toyota and a tank. A lot of them look like they are 3/4" thick and 2" across. And a lot of them remind me of "tacticool" stuff. Not my thing. THere are some that are more subdued that I could see myself wearing.

This is more my style... "SEIKO PROSPEX - Arnie"

(Be careful when shopping for one of these. There are several different model numbers so do your homework beforehand.)