Current watch market w/ current conditions

[superdog]

I know the last few watch/coronavirus threads have been looked poorly upon.

However, there are quite a few threads right now pertaining to any number of things, including investments and world markets in regard to the virus.

It seems only reasonable that we can discuss the current watch market in regard to the current conditions. It is a watch forum, after all.

I think we can all agree that everyone here would prefer a healthy world and robust markets. Considering that is not currently the reality, I do not see any harm in discussing how this is effecting the watch market.

Hopefully most of you will agree.

My personal experience: I was in communication with a local gray dealer about a Patek 5968a. We hadn't spoken about it in a while though, and I wasn't paying that type of premium anyway. He actually just reached out to see if we could close a deal.

Maybe it was just good customer service. Or maybe he is fearful of getting caught with a lot of stock of very overpriced watches.

Personally, I feel bad for some of the grays. Especially the ones that have become my friends. Maybe they are just fine. I know they are for certain smart as all heck.

However, they had to buy high and have to sell high. Sure, maybe some of them helped create the market. That is possible. But my guess is that the demand, which was already waning, is going to go way down.

I am personally thinking that there will be a lot of deals soon.

That said, I am not so sure that too many people are going to be looking to be spending on luxury goods for the near future. Certainly not at a premium. And I can't imagine grays will hold them for the long term hoping the world rebounds. It looks for certain that things will just progress for a while before they settle.

Very uncertain times for any market. I imagine that luxury goods will feel this. Sure, there will always be buyers. But certainly not nearly as many which create less of a demand and therefore drive down prices.

What do you folks think?