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My personal opinion is pretty in-line with the OP. However, I do think watches are moving on the secondary market, I just don't think they're moving at prices you see on C24 for the hottest models. And to me, that's somewhat part of the problem as it plants a seed to flippers/sellers what they want for their watch, and that inflated expectation has to flow through the system.
Secondary dealers do not get much out of this bubble, and I think many of them would love to see it end. At least purely on the financial side. Dealers have to tie up more capital to keep the same profit margin, and I don't know any business where that's a good thing.
So, until the people they are buying from reset their expectations, we're going to see prices likely steady where they are, and just maybe trickle down very slowly as inventory stalls. The trickle could become something more as things develop in China and HK as those are the wild cards.
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