Well, it took some time but...

...the vintage Rolex market is suddenly deflating. the summer of 2008 was the "last stand". Remember 2007? Whatever inventory out there was snapped up by newcomers and seasoned collectors in a flash. Over the winter of 2008 I began to see signs of a market about to fall. Lots of sub-par pieces, too many safe deposit boxes were raided with long time owners looking to cash in on the craze. The Antiquorum Revolution in the spring was one of the most anticipated watch and clock auctions of all time. After records were set with a $500k + "Albino Daytona" the overstock began to take hold. By summer 2008 sales were sluggish and many non believers said it was just the normal summer slow down. Not the case. The current state of the US and subsequent world economy had caused many "common" watches to devalue. Remember, people
In 2002/3 (5 years ago) a plastic Daytona was around $10k. In 2001/2 a perfect bakalite GMT would sell for under $3k. Newmans were in the $20-30k range. The vintage Rolex market soared in a span of 5 years to record highs. It was unstoppable, until now.