Why The Watch Market ACTUALLY Crashed

[@michaelriera6277]

Wasn’t aware the watch market crashed. Thought it was a correction to normality.

[@Harrythehun]

I totally agree with you!!! The human brain is a strange thing, we adapt to a new "normality" quickly.

[@Gcock]

Accurate analysis, my friend.

[@Silvercrypto-xk4zy]

Yes but by definition it was a crash by percentage

[@JohnBowl14690]

Whatever you call it doesn't matter. In reailty, the masses aren't going to pay $30K for something useless. Nobody wears watches anymore except for a few. For those that do, there are quartz watches that are not only better and more accurate, but they require virtually no service.

[@Anirossa]

That's what they call a crash, because they are upset even if it was just a bubble.

[@johnrolfe4107]

Hi John, I agree with your observations but I just got back from three weeks in Switzerland. The Rolex boutique on Zurich's lower Bahnhofstrasse literally kicked me out saying the store was too crowded and the wait would be about twenty minutes. Well the booths were full but the display floor was empty. Also at Bucherer in Lucern the Rolex window always had crowds gawking at the display. I've been a collector for decades and don't speculate. I refuse to pay over MSRP also. To good, consistent customers like myself it's pure greed. Now that I'm 75 and have a watch for each day of the week, I will stop. It's been exciting to own what I bought, but I refuse to join the speculator crowd.

[@JohnPWatches]

I understand. I hear things like this. Glad to see you have a nice collection. Thanks for watching!

[@HRM.H]

Down times are a enthousiast's dream. Hyped up pieces that used to trade around 5K now trade around 3000.

[@JohnPWatches]

Not a bad time as a buyer right now

[@ChoonKokLim]

Only flippers like to buy at inflated price so that they can flip higher prices. Watch collector and enthusiast only wants to afford and enjoy wearing the watches.

[@qaching]

@@JohnPWatcheswhat if it crashes even further??

[@drnick40]

Always enjoy your videos John P. Thank you. I am a watch collector and love the latest decline of the market. This means more for you and me. Good times!

[@Anonymouslyme1]

It didn’t crash it just normalised the reason why is inflation.

[@desireless4092]

Crash? Prices are still outrageous. Nothing has crashed, the market just got a slight correction due to the hype decline. It might be a beginning of a bigger decline but for now - no dramatic changes.

[@nedflanders3769]

Even if I was filthy stinking rich, I don’t think I could pay over $25k for a watch. It just seems wrong.

[@goldgeologist5320]

And risky to walk on the streets of any major city!

[@Julio-p4s]

It changes once 25k feels like 25 dollars

[@AA-um3jg]

In 2017 we were talking about the death of luxury watches , but the trend turned due to hype and easy money. I can imagine the same will be talked about in next few years

[@stupidocanerosa]

Agree.

[@edblair1]

Can you address all the waiting list watches that end up brand new with tags on the grey market? The whole idea is to hype and corner markets.

[@neale3871]

My Chinese friend went to a Role shop in Brussels. Was told no Rolex availability. He bought 2 Tudors (make and female) then suddenly as a valued customer he was offered a Rolex. Scammy behaviour from the Rolex retailer.

[@acurry420]

Great addition to Teddy’s take on the market.

[@JohnPWatches]

Thank you!

[@Anirossa]

Rolex over MSRP is still a bad joke

[@framptonhendrix530]

Great content John 😊

[@lonewolfemcquade8133]

Dosen't really seem like a crash. More like a correction.

[@HRM.H]

Its a full blown trainwreck, not just a crash

[@acurry420]

Agreed. The market was unstable the last few years and things are starting to get back to normal.

[@JetFire9]

Tell that to the people that went all-in at the top of the market. 😂

[@realalexmackenzie]

I was at Rolex AD's in both Canada and the U.S. last week. Both had 36mm DJ's available for sale to anyone who cared to pay the cost. Not my personal style, but encouraging that maybe more models will be available for anyone walking in off the street.

[@marcheezy.]

At cost meaning discounted, right? This wouldn't be on Alberni St. by any chance?

[@kaczynski2333]

The watch guys never look at the broader economy. Governments can pretend everything is OK as much as they want; but, it isn't, and consumers know it. This is just the start.

[@davidcrandall1285]

what do you mean when you say you were in the "watch Industry for 15 years" What was your Job?

[@TheDryDown]

What are the price differences between 2019 and 2024? Hulk $14K in 2019 vs now $18K. Market “crashed”.

[@Fifty_Jay]

18K🤣🤣🤣🤣

[@TheDryDown]

@@Fifty_Jay Can you find me a Hulk with b/p for less than $18K? Please share link. Thanks

[@Fifty_Jay]

@@TheDryDown no no no no that’s not how it works. Something is only worth what someone is willing to pay not what it’s advertised for. So you let everybody here know who’s paying 18K I’ll wait… Thanks

[@user-fe5uh2bi2t]

Greed: intense and selfish desire for something, especially wealth, power, or food. Stealing is a crime. Maximizing profits is greed no matter how you try to spin it. The point is that a lot of collectors that overpaid for outrageously priced watches are disillusioned and have quit the game. They’ll wear what they’ve got, and hopefully enjoy them, but will be hesitant to ever purchase another watch. Those potential customers are lost. Gone with the wind unlikely to ever buy another watch. In summary watch dealers and speculators shot themselves in the foot. Now they’ll have to reep the consequences of their greed. I can only hope that many of them got stuck with and overabundance of inventory that they can’t offload anymore.

[@kilbourn]

Like you said, the watch market--particularly Rolex--has further to drop, partly because of the three new temporary production facilities Rolex is will have operational by 2025, with the new permanent facility being operational by 2029. Markets are forward looking and see this new supply of watches about to hit the market.

[@yankeedoodle6293]

I bought a brand new Rolex sub 16610 for $4300 in 2005. Been wearing it ever since. Personally would never pay over MSRP. If I was starting out now, I wouldn’t buy Rolex, I’d probably go with omega. Anytime as good as Rolex

[@Seaward1224]

It was just FOMO. When prices were rising, buyers wanted something tangible, beautiful and the bonus was they could enjoy just having it, looking at it and once in a while wearing it. Soon as prices slid the reverse FOMO kicks in.

[@QuintoFriedmann]

Great content, as always! A bit off-topic, but I wanted to ask: I have a SafePal wallet with USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). How should I go about transferring them to Binance?

[@teenoso4069]

crashed?

[@TheLastRealWatchGuy]

It’s the AD game. The young are abandoning Rolex.

[@regsantotomas]

Maybe less of a crash than a market correction.

[@heisenbergguy7772]

Downturn of economy, slow down in China, whole world is at war, need more reasons?

[@WestCoastAce27]

Exactly. All the other stuff is secondary/residual.

[@Justin-jn2uk]

None of these things are true

[@TruthProphet2045]

The only reason the stock market hasn’t crashed yet is because it’s artificially inflated. It would be down 30-40% if it was real😂

[@fossilimprint2954]

Thank you.

[@richardhunt4928]

I have a big anniversary coming up. I took a business trip up the east coast this week. I literally stopped at 22 Rolex AD's. Not a single one had a Rolex they would sell me. Despite me having a Rolex purchase history and I was wearing my Submariner. So when you say the market has crashed and not ONE single Rolex dealer has a watch to sell, I'm calling BS !!

[@TheWatchDoggg]

The watch market is correcting. The prices of second hand rolex, especially hype pieces have dropped significantly, however the demand is still larger than supply for the majority of retail rolex models

[@elchinpirbabayev5757]

I feel that watch industry took a wrong term during the hype phase.. most watch reviews were the same.. amazing finishing, a million man-hours went into polishing that second hand by left foot of sixth generation grand-master, heritage... blah blah blah.. complications, grand complications etc etc.. Something was wrong.. patek phillipe for 35 million dollars? if it sells, then why not? there's that too. I think the industry is coming back to its senses and Frederick (or Ferdinand or Francois) Berthoud watch brand is onto something.. focusing on what really matters.

[@patrik3450]

The brands don’t understand to get new customers to their products.

[@OmidSoltan]

John, has anyone ever told you that you have a nice voice for dubbing or audio books? Seriously.

[@JohnPWatches]

No, you're the first. Thank you!

[@m-ok-6379]

Nobody talks about the fact that so many young crypto-rich people were buying watches to show off their new wealth.

[@TimothyKasch-fm7bn]

The watch market really didn’t crash at all

[@stupidocanerosa]

I'd like to read some comments of the Rolex "investors" newcomers club spamming every watch video screaming like cheerleaders "GIMME AN R, GIMME AN O...." Aaand here we are. We told you way ahead of time it was only a market bubble. And it's not over yet. Maybe we won't never see again a Sub listed for 3000 bucks, but the slope is still slippery...

[@JLim3111]

1) Flippers gone because there is no more profit in more than 90% of watches 2) The REAL demand for watches from collectors and enthusiasts is actually lower than Rolex’s supply. How is this so? Go to your local watch dealers and see the tonnes of watches sitting by their windows. 3) More people start to realise they are actually not willing to even pay the retail price for a watch because watch dealers are paying below retail for a BNIB. Just my personal opinion. Cheers.

[@BrokenClock2U]

Some of you calling is a crash and some of you are calling this a correction; make up your mind!

[@ALEXANDER_MARIO_S.]

16k usd for a Hulk. Seems a little bit too low. They trade for at least 18k. Just staying...

[@ivansmith4242]

They would bring donuts lol. Watch dealers are Homer Simpson.

[@Mohjo99]

Inflation was at 15% at its height. These watches are upwards of 100%+ its price gouging and all the grocery chains admitted it…

[@napaswar]

Crashed? Seriously?? Can you or somebody get me Nautilus 5711, AP Openworked ceramic or John Mayer at MSRP???

[@DGenerationX69]

💥

[@jamesmustin7289]

Quite simple people are waking upto the point that wrist watches are totally unneeded. The Iphone has become the replacement of the pocket watch. The Iphone has plenty of watch complications. Ther is not a thing the Iphone cant do. Walking in the Mall recently I was people watching. Not for what watch they wore but by the large number of people not wearing . Just look what it costs to repair a watch with complications. It has come down to the point of something to wear. This thought is ever creeping into peoples mind. It took time for men to ditch the pocket watch after world war 1. The wristwatch is now in the same phase. It has evolved into a fashion statement that is on a downward spiral. The computer will become a implanted devise. Therefore the desktop notepad, Iphone, and watches of all types will be gone. We will walk around with total internet connected to us. You had better hope Big Brother is not in control. As this happens watches of all types will tank. I am not talking about a diver watch. along with a cashless society, it will be a watchless society. So what do you thing a Rolex, Omega. Grand Seiko , Iwc and ETC, will be worth? There will be no more conversations about the slight improvemennt of mechanical watches. I will be curious what people do to replace the watch world.

[@GShockWatchFan.]

The greedy public out for a fast buck, no dhort cuts in life. Greedy manufacturers giving quality on one level then using 60 % Swiss Law excuse on another kevel manufacturering sdme watch, greedy grey dealers, greedy AD.

[@bertusbob]

👍👍👍

[@rick137.pickle]

No need to reason so much. You guys in the gray market together with the AD’s are so greedy and priced the hell out of these watches to abuse the situation.

[@nandkarthik]

Watch market is just hype. It was not going to last. Everyone know that

[@manuvns]

it will crash when i can get new Rolex below retail!

[@Sumerdini]

Watches are hypes only....

[@edblair1]

Stop maintaining these flim flaming cockaroaches go fast red car and CRM Jewelry raffle sketches

[@edblair1]

The muppet boiler room secondary grey luxury watch market is dead

[@rodgerwill1042]

Crypto imploded.

[@f.a.j.4685]

Those rolex not worth more than around 5000-9999. Over and out. Nobody really needs them. Clowns

[@edblair1]

Stop maintaining the Walrus's and Tweety bird's globe trotting ways spending your children's tuition monies

[@nedflanders3769]

Calm down, Ed.

[@lot2196]

Who wears watches anymore? Seriously, this is a thing? I had no idea.

[@Bonescratcher]

Don’t think of them as watches. These are fashion pieces. Also known as status symbols. You don’t wear them to tell the time, just like you drive a Rolls Royce for transportation purposes

[@AcmeRocket]

Market? 😂😂

[@InGratitudeIam]

On a more macro level, all debt-based nations are in serious decline due to prolonged deficit spending, printing worthless paper called "money" and the US Dollar/Banking System no longer being required for international trade. The governments' printing of paper money not backed by anything is why inflation is running rampant and companies are having a hard time staying open. So called, "corporate greed" has nothing to do with this dilemma. It's not just the "Watch Market," pretty much EVERY market is going down the toilet save for certain commodities. Wait for a few months, it'll be a great time to buy a luxury watch at an amazing discount... that is, if you have the money. :))

[@CelebGMZ]

Dead

[@chis2948]

I’m going to be really honest here. It’s “headlines“ and stories like this that do nothing but continue to turn people off from watches. The market did not “collapse“ or “crash”. The market got completely out of control from a once in a lifetime set of factors, including a lot of crappy flippers and unscrupulous dealers. The market is returning to normal, and if you really love watches, there isn’t anything that could possibly make you happier and more excited for the future. Please stop with this clickbait nonsense because you’re above this as most of your content is very well thought out and educational. You’re running the risk that you will eventually influence people to the point where they will think the market is crashing and it’s going to put a lot of people (perhaps like yourself) looking for work if that does occur. After all, nobody really needs these things and it’s really just a fun distraction from life.

[@johndefalque5061]

A watch as costly as an SUV yet less practical, it won't help you move, commute, camp, travel, like every speculative item, prices can collapse. A $25 digital watch could be more accurate than any mechanical watch. Don't go too cheap, a $5 Dollarama watch will hurnt like a handcuff and crap out on you after 3 mos. I had dozens of shitty Timexes, the only good one I kno of is the Expedition.

[@eduardovillalon7496]

And in what particular planet did it crashed? Because not here in Earth