Quote:
Originally Posted by Nav01L
I think when bonuses start falling flat in February-April, things will start to slow. The industry was kept afloat by a lot of opportunistic purchasers over the initial wave, as prices dropped and people still had ample money. The second factor will change as GDPs regress over the coming years and thus the prices may slide. But the fact of the matter remains that AP and Patek will likely be the last to be affected. They can reduce their hot steel models to almost zero and continue to operate (Patek more so than AP). I could see Rolex prices losing ground first, as less people find themselves in a position to pay gray prices.
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Agree with you on the GDP ramifications but this crisis has really only widened the wealth gap which benefits the top end of the market ie >$20k. Also agree on Rolex suffering first; that said the real wild card here is Asia which seems to be sucking up everything luxury
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