8/8/22 Signs That The Watch Market Has Started To Correct?

     Finally, it seems that the watch market is coming back to reality.  We reached a point in which a nice watch that might have sounded expensive, say from Rolex, like the Cosmograph Daytona retailing for close to $50,000, in the used or secondhand market could easily be for sale at 2-3x the original price.  I don't know how people in general feel about this, but I say good!  I fucking hate these idiot flippers that go in, buy all the watches and then just turn around and try and resell them at a higher price point.  I hope some of them went bankrupt.  They add no value to the process, and just made it that much harder to find what I want, in terms of inventory.  

    It is possible that the recession we are in is affecting that part of the market, but all the stories of people being held up for their watches, and in some instances even beat up or worse, has to have many people losing interest in wearing nice watches.  I saw some horrible stories on Youtube where even old ladies were getting beat up by some young thug to get at her watch.  I fully respect the person who has worked hard and gotten to the point of being able to afford a nice watch, only to have said thug get his by basically cheating at life and taking it by force.

    One of the guys on Youtube both my brother and I follow has announced as well as several other sources that it is simply not a good idea to wear any expensive watches out in Los Angeles, the possibility of getting mugged is very high.  This one guy has a collection with hundreds of watches, some as expensive as $1,000,000.  He said he just put them all in a bank safe.  He doesn't even feel safe having them at home.  This another reason I feel the market has/is collapsed.  I don't feel safe even wearing my watches just on a day-to-day basis.  I prefer to wear them with a long sleeve shirt, that way I can hide it in a public place like when getting gas, and then roll up my sleeves if it feels safe or civilized.

    I get the flippers trying to make a little money but taking a $9500 watch like the Omega Snoopy 50th Anniversary watch and putting it on the secondhand market, unworn, for $30,000 is just robbery.  If they even advertise it as unworn, then the only reason it was purchased was to act as a middleman and profit, so I say good, I hope these knuckle draggers disappear, for good.