The watch market has been on fire for quite some time, but no market goes up in a straight line. Corrections or drops are inevitable. We're going through one in luxury watches as we speak!
Welcome to episode 55 of CRM Life! Despite the slowdown in the high end watch market, we are still selling watches. In this episode, we even sold a “heavy hitter,” a $400,000 Patek Philippe Celestial. It seems that the closer that Carlos gets to these exclusive pieces, the quicker his relationship with them comes to an abrupt halt (remember Episode 39? LOL). Despite the fact that Mr. CRM had to say goodbye too quick to this work of art from the Patek Philippe brand, we have a family business to run and are blessed for being able to find a new home for this exclusive heavy hitter!
The global hyperinflation we've seen during 2020-2022 has pushed many commodities, asset classes, and markets (including luxury watches) to record heights. We've discussed at length the difficulty in knowing how high prices would go in our industry (and others), since the expansion of the money supply during this period is something we have never seen before. What do we compare this to? Nevertheless, there are a group of watch collectors who have missed the boat and regret it. This is the group that has been calling for a crash in luxury watches for years, never ceasing to blame grey market dealers for the run up in watch prices. Despite the fact that many of these people are now salivating on the sidelines, their greed and frustration might cause them to miss the boat again! Time will tell. It's interesting to see the exact path that watch prices take.
Let us know what you guys think of the state of the luxury watch market. What path do you think it'll take during the next 12 months to 5 years? Leave us a comment below.
Also, let us know what topics you would like to see in future episodes of our little CRM Life reality series. Stay blessed!
And check out some important links below as well:
Follow us on Instagram and get access to some of our exclusive deals:
/ crmjewelers
Click the link below to sell us your watch:
www.crmjewelers.com/services/...
Get prices for Cuban link chains here:
www.crmjewelers.com/cuban-lin...
For collaborations with our brand, click the link below:
www.crmjewelers.com/sponsorsh...
KZfaq is not a sponsor of any giveaway, prize competition, or game of chance that is featured on our channel, and you agree to release KZfaq from any liability related to the same.
All giveaways, prize competitions, and games of chance that are featured on our channel are conducted through a legally compliant and transparent platform that processes all sign-ups/payments and ensures that we have no influence over any outcome or winner selection process.
Links to legally compliant privacy notices and terms/rules can be found below:
👉 tinyurl.com/privacy-policy-page
👉 tinyurl.com/terms-page