All watch trade activities have been softened a lot comparing with the same time in 2022.
Roughly speaking we seemed to have a false hope that watch price risen a bit after March 2023 when the more visitors are encouraged to Hong Kong, but after observing for two months. That is proven a false hope.
Rolex buyers are not as aggressive on buying as they tend to look for lower offers in the market.
Even they confirm to buy today, they shall be gone on Tomorrow.
Audemars Piguet price drops 40% comparing with May 2021, and 30% comparing with May 2022.
Patek price also dropping a lot like 25-40% depending on models.
Reason behind is the global economy is bad, after the US Silicon Valley bank, the Signature Bank and the first republic band closure... there is a lot of monetary movement from the Western banks to other chosen banks for higher security level, Swiss Credit bank was in big trouble too.
Looking forward
Speculating, But this is the best time for people who are keen at search for those watches they like, they may get a better price.
HK Snob
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