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Crypto-currencies: Market collapse has led to a rise in the supply of second-hand watches

Crypto-currencies: Market collapse has led to a rise in the supply of second-hand watches

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The latest movements in the crypto space have reportedly led to an increase in the supply of pre-owned luxury watches. The consequence? Prices of sought-after models from top brands like Rolex and Patek have dropped.

 

The recent plunge in crypto-currency valuations “has had a direct impact on the prices of luxury watches from brands like Rolex and Patek Philippe,” says Chrono24, the company behind the news. Based in Karlsruhe, Germany, the company has over half a million watches listed for sale on its website.

 

Safe haven

 

The supply of sought-after watches, such as the Rolex Daytona or the Patek Nautilus 5711A, “is now much higher,” the online platform notes in a statement. “The collapse of cryptocurrencies increases the supply of the most sought-after models on the second-hand market,” it goes on to say.

 

 

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Featured photo : © Rolex

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