Why The Watch Market ACTUALLY Crashed

In this video I cover additional points on why the luxury watch market crashed from my personal experience buying and selling these watches as a dealer.

[michaelriera]

Wasn’t aware the watch market crashed. Thought it was a correction to normality.

[johnrolfe]

Hi John, I agree with your observations but I just got back from three weeks in Switzerland. The Rolex boutique on Zurich's lower Bahnhofstrasse literally kicked me out saying the store was too crowded and the wait would be about twenty minutes. Well the booths were full but the display floor was empty. Also at Bucherer in Lucern the Rolex window always had crowds gawking at the display. I've been a collector for decades and don't speculate. I refuse to pay over MSRP also. To good, consistent customers like myself it's pure greed. Now that I'm 75 and have a watch for each day of the week, I will stop. It's been exciting to own what I bought, but I refuse to join the speculator crowd.

[HRM.H]

Down times are a enthousiast's dream. Hyped up pieces that used to trade around 5K now trade around 3000.

[desireless]

Crash? Prices are still outrageous. Nothing has crashed, the market just got a slight correction due to the hype decline. It might be a beginning of a bigger decline but for now - no dramatic changes.

[Anonymouslyme]

It didn’t crash it just normalised the reason why is inflation.

[nedflanders]

Even if I was filthy stinking rich, I don’t think I could pay over $25k for a watch. It just seems wrong.

[drnick]

Always enjoy your videos John P. Thank you. I am a watch collector and love the latest decline of the market. This means more for you and me. Good times!

[nandkarthik]

Watch market is just hype. It was not going to last. Everyone know that

[AA-umjg]

In 2017 we were talking about the death of luxury watches, but the trend turned due to hype and easy money. I can imagine the same will be talked about in next few years

[edblair]

Can you address all the waiting list watches that end up brand new with tags on the grey market?
The whole idea is to hype and corner markets.

[acurry]

Great addition to Teddy’s take on the market.

[lonewolfemcquade]

Dosen't really seem like a crash. More like a correction.

[kaczynski]

The watch guys never look at the broader economy. Governments can pretend everything is OK as much as they want; but, it isn't, and consumers know it.

This is just the start.

[ryaninSartell]

The watch consignment market was crushed by the timepiece felon.

[feuhbit]

Greed: intense and selfish desire for something, especially wealth, power, or food. Stealing is a crime. Maximizing profits is greed no matter how you try to spin it. The point is that a lot of collectors that overpaid for outrageously priced watches are disillusioned and have quit the game. They’ll wear what they’ve got, and hopefully enjoy them, but will be hesitant to ever purchase another watch. Those potential customers are lost. Gone with the wind unlikely to ever buy another watch. In summary watch dealers and speculators shot themselves in the foot. Now they’ll have to reep the consequences of their greed. I can only hope that many of them got stuck with and overabundance of inventory that they can’t offload anymore.

[Seaward]

It was just FOMO. When prices were rising, buyers wanted something tangible, beautiful and the bonus was they could enjoy just having it, looking at it and once in a while wearing it. Soon as prices slid the reverse FOMO kicks in.

[TheLastRealWatchGuy]

It’s the AD game. The young are abandoning Rolex.

[kilbourn]

Like you said, the watch market--particularly Rolex--has further to drop, partly because of the three new temporary production facilities Rolex is will have operational by 2025, with the new permanent facility being operational by 2029. Markets are forward looking and see this new supply of watches about to hit the market.

[ivansmith]

They would bring donuts lol. Watch dealers are Homer Simpson.

[realalexmackenzie]

I was at Rolex AD's in both Canada and the U.S. last week. Both had 36mm DJ's available for sale to anyone who cared to pay the cost. Not my personal style, but encouraging that maybe more models will be available for anyone walking in off the street.