The latest troubles in the crypto space have allegedly led to an increased supply of second-hand luxury watches, according to a leading trading platform. As a result, prices of sought-after models by major brands like Rolex and Patek have dropped, the company revealed.
Higher Supply After Crypto Crash Hurts Resale Prices of Top Watches From Swiss Brands Like Rolex
The recent decline in the valuations of crypto assets has directly impacted pricing of luxury watches from Rolex, Patek Philippe and the like, a German online platform that lists hundreds of thousands of watches has noticed.
The supply of trophy watches, such as the Rolex Daytona or Patek Nautilus 5711A, “is now much larger,” the Karlsruhe-based Chrono24 said in a statement, quoted by Bloomberg. The crypto collapse is easing supply of the most desired models on the second-hand market, it elaborated.
The report notes that the decreasing prices of the most wanted timepieces is an indication that the second-hand luxury watch...
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