I have a fascination for moonphase watches and I have an active search saved on chrono24 for Moonphase. Usually, on any given day, maybe 20-30 new watches are added to that site category. My search alerts me. and I sort by Newest.
About 3 days ago, I noticed instead of getting an update for 24 new moonphase, it was 75. I clicked and checked it out - most were extremely high end, Patek Phillipe, Breguet, Audemars in the high 70-350K range.
2 days ago, I get another update. 111 new moonphase in the last 24 hours. I click… Patek Phillips, Breguet, Audemars, JLC, Vacheron, Glashutte, A. Lange, Rolex… prices similar.
1 day ago, I get an update, 52 new moonphase. Same results.
As usual I’m cruising around YT looking for fun videos, and I come across THIS:
https://www.youtube.com/watch?v=nxuxbW_9BhM
6th quarter of price drops. What we’re seeing, and I’m sure it’s true in other categories, is a huge wave of sellers getting out of a crashing high end luxury watch market. Good for us scrappers.
Yep, I have similar searches set up on C24 for various things. Same observations. 16570 Explorer IIs, a watch that could be had for around 6k with B&P pre-covid, was selling for upwards of 11k by 2022. Prices have dropped back down to the 7s and there are still watches sitting there unsold for months. Even later models with SEL bracelets and 3186 movements aren’t flying off the shelves at the same rate. I’m intrigued to see where we are come February 2024.
16570 with glidelock would be perfection—do 20mm modern oyster bracelets fit it?