Bought $2M in Watches at IWJG Miami With Grey Market TREMBLING! | CRM Life E51

We literally ran out of money at this show...all while grey market dealers were FREAKING OUT!

That was the main theme for IWJG Miami. Lots of worried watch dealers coming to our booth...many trying to dump watches (even we did a little dumping). But at the end of the day, we remembered the famous quote from Mr. Rothschild, “Buy when there's blood in the streets, even if the blood is your own.”

It takes guts to pay market price for some of these exclusive luxury watches. I mean, there's no doubt that there's demand for them, otherwise the price wouldn't be where it is today. Nevertheless, the seed of doubt is always there. Will the market crash? Will prices go back to retail levels this year? Obviously, many who've missed the astronomical, multi-year run-up in what has become one of the most coveted asset classes around, wish [even possibly pray] that everything comes crashing down, yet prices just keep rising.

Given the uncertainty in the luxury watch market in 2022, what we tried to do is buy some very exclusive pieces, Patek Philippe to be exact. That was our focus during this show. We dumped the last Richard Mille watch we had in stock and just stocked up on the Pateks. In the process, we picked up a few Aquanauts, a 5990 Nautilus, a Royal Oak Self-Winding Tourbillon from AP, and some others that you'll see during the episode.

Overall, we purchased over $2,000,000 in watches and only sold one or two pieces. But remember, our main gold in going to the show is to create content, not really to sell our merchandise.

Let us know what you you think of the high end watch market. Is it due for a drop in the next 6-12 months? If you think so, how steep do you think the correction will be? Will it be an all out crash or will the market just remain bullish as hyperinflation continues rearing its ugly head?

Leave us a comment and let us know!

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