Just like cryptocurrencies, the once red-hot Rolex watches are also plummeting in value. Some discontinued models are witnessing a 50% drop in resale prices.

The market for pre-owned luxury watches has been on the rise for several years now. However, the pandemic triggered a buying frenzy amongst collectors with prices of collectible watches ballooning to record levels, especially in the case of Rolex watches. According to a study by online retailer Bob?s Watches earlier this year, Rolex watches outper...

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