The crazy aftermarket prices caused a lot of people to consider a Rolex watch as an investment rather than the status symbol it was supposed to be. People who

The crazy aftermarket prices caused a lot of people to consider a Rolex watch as an investment rather than the status symbol it was supposed to be. People who had no intention to wear a Rolex IRL flocked to dealerships for the sole purpose of reselling at a profit. Which further inflated the apparent demand, which again inflated aftermarket prices. It was a bubble, pure and simple. There was a lot of liquidity sloshing around in Covid times that people didn't know what to do with. At least a watch lasts longer than a tulip, so this bubble won't burst as dramatically.