I have a fascination for moonphase watches and I have an active search saved on chrono24 for Moonphase. Usually, on any given day, maybe 20-30 new watches are added to that site category. My search alerts me. and I sort by Newest.
About 3 days ago, I noticed instead of getting an update for 24 new moonphase, it was 75. I clicked and checked it out - most were extremely high end, Patek Phillipe, Breguet, Audemars in the high 70-350K range.
2 days ago, I get another update. 111 new moonphase in the last 24 hours. I click.. Patek Phillips, Breguet, Audemars, JLC, Vacheron, Glashutte, A. Lange, Rolex... prices similar.
1 day ago, I get an update, 52 new moonphase. Same results.
As usual I'm cruising around YT looking for fun videos, and I come across THIS:
https://www.youtube.com/watch?v=nxuxbW_9BhM
6th quarter of price drops. What we're seeing, and I'm sure it's true in other categories, is a huge wave of sellers getting out of a crashing high end luxury watch market. Good for us scrappers.
That is a good thing, There is no way any steel sport watch should sell for more 5-10k, regardless of pedigree. The finishing on pm watches is where the price can really go up... and that makes sense. Something handmade by a master craftsman is a special thing in our assembly line world. But stainless steel watches that can be perfectly faked in china with common equipment have gotten out of hand with pricing. I hope the market continues to fall