At the beginning of 2022, prices on pre-owned watches were reaching eye-watering levels that had never been seen before. At the top of the peak were pieces from the “Big Three” that we now refer to as “hype watches,” such as the Daytona, Nautilus and Royal Oak. This was fueled by a number of unique moments in modern history. Despite the cataclysmic nature of COVID, the fact that people were unable to travel, and it was not possible to eat, drink or dance the night away outside, meant that disposable incomes were at an all-time high. Secondly, the entire crypto economy went berserk, with investors making millions and billions in digital currencies. People liked to spend, and spend they did on watches… and plenty of them! The smart operators could see that this was a bubble and whilst demand is still high, prices do seem to be stabilizing. To be fair, it’s not really surprising when we take into account a number of factors in the global picture that 2022 has so far painted. The global markets, the (inevitable) crypto crash, geopolitical tensions including a European war, levels of inflation not seen for decades and volatile currencies have all made their presence known in all facets of our lives, including watches.
The numbers have been crunched and, according to WatchCharts and Morgan Stanley’s latest report, the market for pre-owned
