Consider that about five years ago a Panerai 111 was priced at about CDN$3500 BNIB plus 15% tax and you could get a decent discount.
Now a 111 goes for (I think) $5300 plus tax, no discount. Almost a $2K jump in five years on one of their most popular models.
To be fair, other models have seem smaller increases, but it seems to me Panny increases are about the same as inflation, at least over the past 1.5 to 2 years.
Since I only buy on the secondary market, the affects on me have been minimal.
