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Andrea Felsted

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.

Tastemaking. — Tastemaking.
Source: Bloomberg

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July 1, 2022, 4:00 AM UTCUpdated onJuly 1, 2022, 5:54 AM UTC

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.