Crypto bros turn back time on their Rolexes, Patek Philippes

INFLATION? What inflation? It’s gotten so much cheaper to get your hands on a Rolex.

After a boom and bust in the market for pre-owned watches over the past three years, there have lately been signs of stability, particularly for Rolex. Time may now even be running out for bargain hunters, though that will depend on whether crypto bros are finished offloading their collections and if a resurgent China compensates for slowing demand in the US.

Interest in watches exploded during the pandemic. Lockdowns led people to pour the money they would have spent on vacations into luxury goods. The result was a rush toward Hermes and Dior handbags among women, while the first choice for men was a Rolex.