Andrea Felsted, Columnist

Crypto Meltdown Claims Rolex and Patek Philippe as Victims

Prices for the most popular secondhand luxury watches have peaked. It’s the latest sign that the bling boom might not last.

July 1, 2022 at 4:00 AM UTC

Updated on

July 1, 2022 at 5:54 AM UTC

By Andrea Felsted

Andrea Felsted is a Bloomberg Opinion columnist covering consumer goods and the retail industry. Previously, she was a reporter for the Financial Times.

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The crypto meltdown has claimed its first luxury victim: the Rolex Daytona.

After reaching record highs earlier this year, prices for the most desirable watches on the secondary market, including the coveted Rolex, have now fallen.