Prices for Rolex, Patek Philippe and Audemars Piguet watches will keep plunging due to a flood of supply.

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https://drive.google.com/uc?export=view&id=1h7WiXhKbSYz0esxrcxFRgnXbDcHNBRua
By Babalola Misturah Oluwatoyin 

Second-hand market for luxury timepieces had a huge bull run over the past few years. But according to a recent report. Prices of the most sought-after watches from top luxury brands have dropped significantly.

The most popular Rolex models saw their prices falling 21% since the peak in April. For Patek Philippe, prices of the most popular references plunged 19%.

“We have noticed a significant increase of watch inventory in the secondary watch market year to date as a result of secondhand watch dealers and individual watch investors off-loading their stocks,” Morgan Stanley wrote.

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