Crypto has faced an overwhelming downfall since the start of May. Many cryptocurrencies have faced their lowest ever prices. However, this has further caused something shocking. The prices for secondhand luxury products have substantially increased.
Many analysts around the world have voted for Rolex to be the first prey of this Crypto situation. The unnerving drawbacks have put the investors into great peril.
When this year started, secondhand goods were the talk of the town. They were facing brilliant sales. However, after the arrival of May, the party era sort of ended. The prices of secondhand market products declined significantly. This also featured the Rolex Daytona. Crypto had a huge impact on the secondhand market. Especially in the watch sector. The demand seems to be hitting new lows everyday.
Cryptocurrencies influenced a lot of things. Couple of them were the purchasing of NFTs and Watches. To be precise, crypto made sure people start investing in ulterior assets. When people saw how stock markets are changing and people who are investing are receiving a potent cash flow, more and more wanted to join. Although this was all before May. Things have entirely changed now.
The most famous watches were only three. Rolex Daytona, Patek Philippe Nautilus and Audemars Piquet Royal Oak. But this is where things get interesting, the squad of three faced a surprising new entry. Richard Mille’s RM series was also the flag bearer of investment.