The gen watches I’ve been following haven’t changed hands for a few months now. Market was already too artificially high. And now there is a real risk that the bubble will burst.
Off course a lot of people have money. But there are also a huge variety of brands other than the few big ones. There are many independents and vintage etc to collect from.
Almost everyone is a Insta collector nowadays. But many of these people are collecting watches like shares. It’s more for speculation. Not all of them are so rich that they use money they can afford to keep in watches when the economy is bad.
If the economy is affected more there will be many watches to pick up for reasonable prices. But desperation also makes people scam etc more. So one has to be careful with private dealers.