I started a thread before this one "everyone is selling their watch or what?" because I was amazed at the number of Pam 233 and Rolex 116515 on sale on Chrono 24, where there was before around 15 Pam 233's for sale now there are 45, for the Daytona there are 135, the first person who answered to the thread also said he had been amazed by the number of watches on sale in the references which interested him, mostly subs and SD's, but the thread was closed because it went completely off track into a stupid talk about Daytonas, so we will stay general please, since it affects not only Daytonas but apparently all Rolexes and Panerai's, which are the 2 brands that I follow regularly, a few months ago when searching "panerai" there was around 950 now there are 3400!!!!!
For Rolex I remember it was around a few thousand, don't remember exactly but seems to me around 3-5.000 on sale, maybe a little more but practically sure that it was less than 8000, guess how many now??? 28875!!!!! What the hell is happening??? How is such a thing possible?
Have so many people who have nice watches turned bankrupt??
Another example, 2 months ago I was looking for a BLNR, and of course like always took a look on Chrono24, I seem to remember that there were about 20, now it's 97, and more than 95% are from second hand shops or from grey dealers, not private sellers, when I got mine I asked my 2 favorite grey dealers one could and did with 8% discount, but the other told me it was nearly impossible for him to lay his hands on one, so he could get one without the wait but he couldn't make any discount since even him would be getting it with only 200 euros discount from the retail price.
If anyone has even the beginning of an explanation or a hypothesis on what is happening I, and I'm sure not only I, would be very interested in hearing it.
Seeing this huge tsunami of watches arriving on the non AD market, if you follow basic economic facts, this means that the prices of 2nd hand watches will crumble to the ground, if you have 100 sellers for 1 buyer the price is bound to decrease dramatically, which is good when you are buying but not good when you are selling.
Must say I am