{"id":1444385,"date":"2023-12-17T13:45:00","date_gmt":"2023-12-17T18:45:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1444385"},"modified":"2023-12-17T13:45:00","modified_gmt":"2023-12-17T18:45:00","slug":"bottom-turmoil-in-used-rolex-market-might-end-after-feds-bizarre-pivot","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/bottom-turmoil-in-used-rolex-market-might-end-after-feds-bizarre-pivot\/1444385\/","title":{"rendered":"Bottom? Turmoil In Used\u00a0Rolex Market Might End After Fed’s Bizarre Pivot\u00a0"},"content":{"rendered":"

Bottom? Turmoil In Used\u00a0Rolex Market Might End After Fed’s Bizarre Pivot\u00a0<\/span><\/p>\n

\n

The secondary market for pre-owned Rolex and Patek Philippe watches has been spiraling down since peaking in early 2022, mainly because the Federal Reserve ended helicopter-dropping trillions of dollars in stimulus checks and was forced to begin the most aggressive interest rate hiking cycle in a generation to curb inflation. Now, the Fed’s\u00a0bizarre, unexpected pivot<\/a>\u00a0this week has spurred hope that a bottom nears for the luxury watch market.\u00a0<\/p>\n

Bloomberg<\/a>\u00a0spoke with Christy Davis, a co-founder of Subdial, a UK-based secondary watch market dealer and trading platform, who believes the turmoil in the secondary luxury watch market is ending.\u00a0<\/p>\n

“As we look toward 2024, the potential for a soft landing of stable and eventually declining rates is reason for optimism in the watch market,” Davis said.<\/em><\/p>\n

The Bloomberg Subdial Watch Index, which tracks prices for the 50 most-traded watches by value on the secondary market, has plunged 39%<\/a> since peaking in March 2022 at around 44,500 pounds.\u00a0<\/p>\n

<\/a><\/p>\n

Demand for luxury used watches has cooled over the last 20 months. As a whole, luxury has plunged into turmoil<\/a> because of soaring borrowing rates hammering demand for watches, purses, and jewelry.\u00a0<\/p>\n

Perhaps Davis is correct. Thanks to the Fed, Rolex Daytona, Patek Philippe Nautilus, and Audemars Piguet Royal Oak watches could soon find a bottom under looser financial conditions.\u00a0<\/p>\n

Rolex Daytona<\/strong><\/p>\n

<\/a><\/p>\n

Patek Philippe Nautilus<\/strong><\/p>\n

<\/a><\/p>\n

Like anything else, there are risks to bottom fishing.\u00a0<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSun, 12\/17\/2023 – 08:45<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/bottom-turmoil-used-rolex-market-might-end-after-feds-bizarre-pivot<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Bottom? Turmoil In Used\u00a0Rolex Market Might End After Fed’s Bizarre Pivot\u00a0 The secondary market for pre-owned Rolex and Patek Philippe watches has been spiraling down…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1444385","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1444385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1444385"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1444385\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1444385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1444385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1444385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}