That's a good question. There is no doubt that an increasing number of vintage watches have been appearing on the market, which is evidence that many people continue to struggle economically and choose (or are forced) to sell assets. My point re: Faber, however, is more nuanced.
Faber's business targets mainly those whom I would consider to be in the 'mid-high' income bracket. I say that because most wealthy people prefer to buy new watches, and as such, tend not to shop at Faber's watch and jewelry equivalent of a high-end thrift store. Given his Manhattan location and commensurately high prices, sophisticated, value-conscious collectors are not Faber's primary customers, either. That leads me to the following interpretation of his reduced stock. Faber has no problem replenishing his stock. In fact, opportunities abound. So I believe that there must be reduced demand from his primary customers, people who have money, yet are increasingly hesitant to spend on non-essential items.
This interpretation stems, more broadly, from my strong belief that the U.S. is heading for another major economic crisis. It will be a worldwide crisis, of course, and in my view it is not a matter of if, but when. I could elaborate in detail, though that would risk veering well off of the topic of this thread.
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