MikeMA
pfm Member
......as wealthy Chinese sell collections to stay afloat.
According to today's FT Weekend, Watcheco, an industry portal for used luxury watches, said the prices of second hand Rolex Submariners - a model coveted by connoisseurs and collectors - had fallen 46 per cent since March.
One dealer in Nanjing is reported to have bought six Patek Philips and 29 Rolex Submariners from distressed owners in July alone.
Hermes handbags are well down too apparently.
Is this influencing UK/European prices, I wonder, and how will it impact the cost of living crisis?
According to today's FT Weekend, Watcheco, an industry portal for used luxury watches, said the prices of second hand Rolex Submariners - a model coveted by connoisseurs and collectors - had fallen 46 per cent since March.
One dealer in Nanjing is reported to have bought six Patek Philips and 29 Rolex Submariners from distressed owners in July alone.
Hermes handbags are well down too apparently.
Is this influencing UK/European prices, I wonder, and how will it impact the cost of living crisis?