The market is beginning to correct itself...
Has anyone noticed the prices for "common variety" vintage Rolex has been going south? There is a documented sale of a P serial daytona on TZ for $14k. The same watch was $18k last week.I believe there will be a 20% decrease across the board in the next few weeks. I am going to see if I am right on Monday when I post some watches for much lower prices. If they sell, I am wrong. If they sit, I am right.
I see big ticket heavy provanance pieces still holding their ground and selling. The gilt market is very strong, as each piece sells on it's own "individual unique quality". DRSD is dead. I predict they will be a 20k watch by Christmas. The floating Cosmograph is another one which is grossly overpriced. With the proper provanance, 20-25k for a full boat is correct. The rest will tumble. Remember folks, the pieces that will withstand this "correction" are the sound solid pieces. Original or service papers will command the real money. Anything without will be left behind.Let's see next week...John
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