Watch Market Collapse! Why Did Secondary Market Prices Fall So Much?

110 thoughts on “Watch Market Collapse! Why Did Secondary Market Prices Fall So Much?”

1. To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.

   1. Brilliant will not help you with the Rolex come on bro

   2. @@MaxRusoatleast they gonna let you try virtual rolex for free for 30 days

   3. Proud Ulsterman (by descent) residing in Uruguay who loved your bit on the accent. Thank you.

   4. @@MaxRuso casio

   5. I have to know. @6:36, how are smart mobiles replacing cigarettes? Is there a vape phone I don’t know about?

2. At first I was scared, thought we were going to watch the market collapse.

   1. That’s next month.

   2. A wasn’t scart. But hopeful

   3. they’re on borrowed time

   4. You could say the clock is ticking

   5. @@thealkymyst maybe Black Monday…

3. this is why I stick to safe investments like beanie babies

   1. I go for those limited edition coke glasses mcdonalds offers, and a happy meal. I’m the happiest investor. 😊

   2. My mom is really sad no one wants her vast Boyd Bear collection but has come to accept it and take comfort of the amazing vacation we can take once we sell them! I’ve seen half of her same collection week after week at Goodwill so…….

   3. Lol

   4. I invest in Yu Gi Oh Trading Cards. Way more stable so long as Konami doesn’t hit Snake Eyes

   5. Don’t laugh, I put 3 kids through college with my storage unit of rare beanie babies. /s

4. I’m a car guy. The advent of televised auctions has driven the car market to ridiculous levels. Cars became less of an enthusiast hobby and more of an investment, which has totally changed the hobby for the worse. Everyone sees the ’70 Chevelle SS LS6 sell for $500k, and everyone thinks their rust bucket is worth at least half that.

   1. i agree, last year i was looking for a 1st gen mustang coupe and people on facebook kept asking $5k+ for a rolling rusted shell with no title, long story short I ended up with a 74′ dodge dart swinger rolling shell with a clean title for $800.

   2. keep strong and keep lowballing these idiots 👉👉

   3. This is what gun broker did to the used firearm market.

   4. I resemble that remark.

   5. don’t remind me, how the same ’70 Chevelle SS became utterly unreachable because of the “collector’s market’.

5. I can’t even begin to explain how good your timing is

   1. How dare you make a dad joke on my watch.

   2. These are distracting me from watching the video

   3. Lol

   4. These comments are like clockwork

   5. ​@@cmnhl1329show up like clockwork.*

6. As soon as an asset gets sold to regular people as an “investment oppertunity” you know it a bubble. See late stage crypto.

   1. Mechanical watches, cryptocurrency, fashion sneakers, NFTs; all pasee collectable “investments” of the last 20 years, but there might be a few people gullible enough to still buy into them in 2024 if repackaged properly.

   2. Housing, cars, yeah…

   3. Sealed VHS-tapes

      Red Letter Media made a nice youtube video about that.

   4. @@j3i2i2yl7
      So how is NFT “art” that sold for thousands of dollars doing these days?

7. That old saying applies:

   If you want to make a small fortune in collectibles, start with a large fortune.

   Collectibles markets are extremely volatile. The comic book market in the 90s. The car market has gone through multiple ups and downs. The fad markets like Beanie Babies.

   1. True but a few stable markets like art are more or less always strong. You just need to pick timeless collectibles. I collect gold coins and while it has ups and downs, its fairly stable.

   2. ​@@PorkChopAChunky art is kinda like gold coins as theyre rare. Van gogh eill not create any more pieces so its unlikely their price will go down. Due to freeports they are also easy to trade and lose no money to taxes

8. Fun fact, the soldier pocket knife does not have a corkscrew. Only the officer version does.

   1. so the conclusion could be: common people drink beer, not wine, for the simple reason that they have no easy way to open these silly bottles.

   2. @@marcdc6809 Or they want you to keep your officer alive because otherwise you won’t be able to open the wine bottle for supper.

   3. So Swiss officers have to do it themselves? Communism!

   4. @@adherry8142actually its because Soldiers have bayonets and officers don’t, a bayonet works perfectly well as a cork opener

   5. @@adherry8142 good thinking

9. Disregard watches. Acquire tulip bulbs.

   1. This cannot possibly go tits up

   2. sold me house for a bulb. wife and kids left me over it but imo they just dont understand the bloomset

   3. No, no! Go for nutmeg!

   4. Soil and pots. Go deep. Timing is everything.

   5. Tulip bulbs were real. The bubble was caused by partional investment options. That cannot happen with Watches. you always have a full watch.

10. I work in whisky and always tell people who want to invest in luxury whisky that if they never want to lose out, then only spend as much on a whisky as you would be happy to drink it at that price. That way, if the value goes up, amazing. But if the value doesnt change, you still have a great consumable item to enjoy.

    1. If you’re buying luxury whiskey you can afford to lose money.

    2. The idea of buying top shelf with the intention of never drinking it is insane. At that point they’re just buying a fancy bottle with some liquid in it.

    3. Same with any collectable including cars.
       You will still have to enjoy driving it occasionally, otherwise what is the point?

    4. A luxury, foul tasting, addicting neurotoxin. Humanity is so cooked

    5. @vinaypatel 100% spot on. Tried unsuccessfully to get my head around insane prices being paid for a ‘suspect’ liquid in a bottle which will remain in the bottle as an investment and never perform as intended – CRAZY one upmanship – an insane human trait. Watches the same: No one worth anything cares what brand you wear – the market is simply flooded with excellent watches and knock offs. Vintage watches only have that desirable rarity value which can NEVER be duplicated.

11. ‘they’re so highly crafted with such rare materials like stainless steel we advertise wait lists being multiple years, unless you have cash, we’ll sell any quantity of any model right now for cash.’ – all luxury brands

    1. @@Sthuont For the Job they are doing (Telling the Time) they are essentially Rube Goldberg machines.
       Using the high Build quality of this Rube-Goldberg machine to justify its high price is kind of misleading.
       For the Simple reason that you can get more durable, and more accurate time telling machines for a lot less money.
       A Watch Crystal with guaranteed 5 ppm accuracy (and 3ppm / yr drift) costs like 50 cents. For a singular Crystal. From Authorized Distributor.
       Thats like 0.5 seconds per day.

       You are not buying a mechanical watch for the higher build quality, or amazing accuracy.
       You do it, because you like mechanical watches.
       Just like any other Luxury good.

    2. @@felixhirt9284 No, you do it because you think other people care about your watch.

    3. Many of the most amazing luxury watch brands only produce a small number of watches every year. These are watches that have every piece made by hand. You can’t take any amount of cash anywhere to buy one, cause they just don’t make enough to have one for you to buy.

12. One of Swatch’s successes was in promoting the idea that people might own more than one watch. When they were expensive, people generally bought the best watch they could and stuck with it. When accuracy became cheap, Swatch said “What not have a watch to go with each outfit?”

    1. Also very successful in making people forget the rapid and near terminal aesthetic disintegration of plastic.

    2. That trent was earlier with cheap Timex mechanical watches https://www.youtube.com/watch?v=330-ixD9VMs&list=PL4ei4-HtlYZRoGnsY027z_C6Y1y36i8Kj&index=8

    3. @@brutallyremastered4255 Not entirely true, but functionally. I have a few older Swatch models from the 90s and while the body is still in excellent condition, the adhesives used in the band and the coatings have degraded extensively. LCD displays from the 80s are prone to having the adhesives on the polariser degrade too, resulting in a very ugly look.

    4. My friend bought a Grey Memphis Swatch when it came out because she liked it. Many years later she saw a price guide and realized it was worth hundreds of dollars. She tore her apartment apart trying to find it. When she did she realized she had replaced the band, tanking the value.

    5. Yup. This is why when you see those old – but incredibly valuable now – watches get wheeled out on Antiques Roadshow it’s like “This is my dad’s Omega, he bought this when he was stationed in Germany in 1962, and he wore it every day until he gave it to me in 2005.”

       They bought a watch. One watch. It was their watch – the only watch. And they wore it with everything, from old shorts when mowing the lawn to their suit in the boardroom. It’s why James Bond has a Rolex Submariner, and wears that with everything from commando gear to a dinner jacket.

       Now? You’d better have a watch for day-to-day wear, for business meetings inside the company, another with external clients, one you wear when driving, one you wear when swimming, one when you’re out drinking, another when you’re out having dinner, another when you’re attending weddings…

13. It’s kinda like how older people invested in antique furniture, but then when they got around to offloading them, the market was saturated and the people with homes to put them in were not interested in such furniture.

    1. My wife’s aunt collected crystal rocks during the 90’s to sell at retirement. Absolutely worthless today

    2. This is so true….I knew antiques dealers who netted $1mm in the 1980s.

    3. @@jasonb4770they tell time !

    4. @@jasonb4770I don’t think you understand the word “function” friend.

    5. There are still plenty of people willing to pay for overpriced watches. Remember there’s a sucka born everyday.

14. Reminds me of the following quote: “We are all at a wonderful ball where the champagne sparkles in every glass and soft laughter falls upon the summer air. We know, by the rules, that at some moment the Black Horsemen will come shattering through the great terrace doors, wreaking vengeance and scattering the survivors. Those who leave early are saved, but the ball is so splendid no one wants to leave while there is still time, so that everyone keeps asking “What time is it? What time is it?” but none of the clocks have any hands.”

    1. Beautiful poem, thanks for sharing.

    2. Sounds like many of my evening parties !

    3. For some reason I read Bojack Horseman instead of the Black Horsemen… I guess it still works

    4. What is this from?

    5. It’s an illustration by Adam Smith.

15. “It makes you wonder what the employees did all day”

    Well put. Been to the rolex shop in Santorini and the two dudes there were on their phone and very rude. Would not even answer any question. Meanwhile the Omega store down the rode were so amazing. Showed every piece, answered every question and genuinely seemed like they were very enthusiastic about watches.

    1. Funny enough, I’ve had the same experience, the Rolex shopkeeper was rude and really wanted me out.
       At the Omega shop we had a long conversation about space and the type of watches that the astronauts wore.
       I know what I spent my money on that day

    2. Ah probably they don’t get enough business? It’s like hot girl VS ugly girl? common sense to understand.

    3. Same here in S.Korea.
       Rolex employees are very disrespectful to customers. They feel proud of themselves when they let down their customers.

    4. rolex sucks timex is goat

    5. presidents wear rolex not omega. nuff said

16. If you can afford it? Buy it. If you buy it? Use it and enjoy the experience. Very well said, thank you for the video.

    1. My exact thoughts on watches. I wear a watch daily and I like it. In the not-so-distant future I plan to buy an Omega I’ve been eyeing for some time, but not because I think it will appreciate in value. In fact, I expect it to depreciate significantly. But I want it and I can (or rather, will be able to) afford it, so I’ll buy it regardless.

    2. Wear your watch in Los Angeles and you might end up in a funeral home.

    3. @@jerryakbar6147 You’re wrong but go off I guess. As long as you’re not wearing a Rolex in the hood you’re fine.

    4. @@CSpottsGaming I’m taking Beverly Hills, they have cars. I’m not wrong.happens on rodeo drive.

    5. @@jerryakbar6147 Crimes happens sometimes no matter where you go. I grew up in a pretty safe town and someone got murdered in my neighborhood once.

       Acting like someone’s going to be a victim of random crimes in places where random crimes happen rarely is just stupid.

17. With investments such as watches timing is everything

    1. 😅

18. When I was a little girl, I once asked my dad how much a particular thing was worth. He told me that a thing is worth whatever somebody is willing to give you for it. At my tender age, I could not understand this basic concept. It seems that lots of rich adults can’t understand it either.

    1. Yup.

       Thats what cracks me up about people who about the value of their house. Or worse, are on an HOA board and justify every decision by claiming it is to maintain property values.

       Your house is worth what you decide to sell it for the day you sell it. And that’s driven by what someone else thinks it is worth. In the meantime, live your life. Enjoy your home. Keep it livable, safe, and comfortable. And you will be fine.

       No buyer is going to notice or care about your tile choice, except to remove it if it is very garish.

    2. @@yankinwaoz

       Agreed to a certain point but Renovations are expensive and if done well, will certainly increase the property value.

    3. Exactly, I think that around the world, this is a famous saying… For example, when you die of thirst in the desert, a glass of water is worth much more than diamonds. In every other situation, it is the opposite

    4. Words of wisdom!

    5. @@_matis_ Yep, here in the Netherlands we say things are worth “Wat een gek ervoor geeft” which basically means whatever a crazy person/madman will give for it.

19. I watched the market for guitars go insane during the lockdowns. I mean, it was ridiculous before, but once the free money started flowing and the 22 trillion dollars were created out of thin air and given to the rich, guitars went to the Moon. Now that it has fully collapsed, I’m picking up my favorite guitars at a discount.

    1. I wish it would fully collapse, try to purchase a PRS Custom 24 10-top or Gibson Les Paul Custom in the configuration you want….. Still just ridiculous prices.

    2. @@robdevine69 Gibson, Fender, and PRS raised their prices to match what was happening in the used market. It is rare that a company goes backwards on price. Try to find the guitar you want used as the prices have come down a lot since the height of the insanity.

    3. The Chinese are building the finest guitars at the best prices period at the moment . Even many great guitar players like Joe Perry say so .

    4. @@virgil_kane I agree that the fit and finish are perfect in these Chinese guitars. I’d prefer Premier Wood though.

    5. You can tell from pawn shops what unneeded things people buy anyway. I’m guilty of the multiple guns vice.

20. I’m a Casio guy. The cool thing is if you wear it upside down, it’s a Oisac. Like getting two watches for one.

    1. Man of culture detected

    2. I still wear my Casio I bought 30++ years ago even though for weddings, important meetings or functions I use one of my famous watches from my collection. The Casio has about FIVE functions such as Double Time, Stopwatch, Timer and has a midnight light..
       While all of my other so-called famous watches only show time and some have the Date Function

    3. @@Gipsi711 Same! I have my first watch and it is super precious to me. my Grandma took me to a small watch repair/retail store and gave a “budget for a gift” I chose a really quirky digi/analog mix. I had a great taste back then. And the shopkeeper treated me like a real important customer, which would be surprising toward a normal adult customer where I live, let alone a 7 year old kid…

    4. Fun fact: Casio watches are more accurate than every luxury watch, no matter the price.

    5. @@nicomal Except for Seiko because some of their luxury watches have quartz movements, too.

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