WATCHPRO: Eric Wind Cited on Supply on Secondary Market
Rob Corder of WATCHPRO recently cited Eric Wind and his recent lecture to the Horological Society of New York on the rising supply of modern Rolex, Audemars Piguet and Patek Philippe watches on the secondary market.
“Much of the commentary around demand exceeding supply at authorised dealers, demand on the secondary market, and the ensuing rise and fall in prices.
Much less attention has been paid to the volume of supply on the secondary market, but this changed earlier this year when Florida-based vintage watch expert Eric Wind gave a presentation to the Horological Society of New York about the joys and perils of collecting. In it, he presented data from Tortella & Sons, a data capture and analyst focused mainly on auction prices, showing the volume of listings on Chrono24 dating back to before the bubble blew up for waiting list watch prices.
Prices for the Aquanaut and Nautilus have tanked since peaking in Q1 last year. A steel Aquanaut was trading for around £85,000 at the peak, but the price is now around £55,000, according to Chrono24, which Mr Wind says is about 20% higher than true market value.
A couple of ten-year-old steel Aquanauts sold on Watchcollecting.com for £34,000 in February and March, which rather supports Mr Wind’s theory of over-ambitious prices in Chrono24’s figures.”
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