Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
The WatchCharts Overall Market Index, a measure of second-hand prices of sixty luxury Swiss watches, declined for the ninth consecutive quarter as of June 30. Sinking resale values are evidence of slowing demand not only for new and second-hand watches but also for luxury goods more generally. Notably, Rolex, the brand that historically was immune to recessionary forces, has been suffering in the secondary market.
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