Tough economy – luxury watches unphased?

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Interesting to me that in what seems to be a tough economy – lots of layoffs, inflation, under employment, etc. – luxury brands are increasing prices 100%+ over the last few years and watches are still flying off the shelves and forums (for used examples).

Is it that the uber wealthy have not been hit? Consumer debt is at an all-time high – maybe nobody cares about the implications of buying a watch on credit?

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