The past two IWJG Shows – April in Las Vegas and in May in Miami – are an indication that we are now changing watch market. Turnout for both shows was less than the pre-pandemic times. Indications that we are heading into a recession with inflation at an all time high. Gas and food prices are rising almost daily, and the Fed raising interest almost every month is having a negative effect on the market. Walmart just reported the worst quarter ever. I think this could continue until the end of the year.
What’s Hot and What’s Not
We are not in a collecting watch market. Dealers are seeing some weakness in the market. One indication is the current Rolex GMT Batman, which up to a month ago was selling in the secondary market for 23k to 24k Now you are lucky to get 18k for the same watch, and we could be in long way from the bottom. In general, dealers are reluctant to take a loss on watches they have in stock, which makes a slow market. This is a very interesting market.