Watch Market Consolidation and the largest certified pre-owned Rolex dealer 

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Spot on

I"d say the makers can't keep raising prices and thus fueling the flippers. Enthusiast or not, even at MSRP, $10K for a steel watch is ludicrous. When people are largely concerned with resale value, the item itself is of questionable worth. Luxury is all about the experience, that's why retail physical presence is important, IMO. Rolex is just expanding back to its roots, a retailer of watches. Jingdaily in 2022 stated 50% of Luxury Brands Will Disappear By 2030. While this is said for the Chinese market, this is substantial. They are the largest market for luxury watches.

wos share price took a big hit recently

fyi, you forgot about the Panda in the room... China is not buying watches...they are saving $$ not spending.

There are consolidations occurring in all industries. This is cyclical.

Watchbox is very smart. They could easily dominate the secondary market in the US if they roll out physical locations in key cities.Most people buying a +$10K-50K watch prefer a more upscale experience, rather than deal with the typical sleazebag/backpack dealer on youtube.

Still can't get a Rolex from my AD.

A 10 year old Rolex submariner mint complete set will Be $5-5500 in the next 17-20 months. Per a source in Dubai who imports most of the Rolex for the entire country. Basically 2015 prices are coming back for most of Rolex. I mean a rose gold presidential olive dial will be 37k used, no more 50k crap for a Rose Gold (fad) metal. Rose gold will NEVER be a timeless piece, all things dry out and it’s beginning to look 👀 a lot like 2015ish all over again