It's certainly not a practice limited to the Italians. Nor Monacos. I see exorbitant prices on anything now that is remotely "limited edition". These watches tend to sit around without a buyer for a long time, and maybe the dealers are happy to wait? 3 possibilities:
1. They wait until some mug comes along willing to pay the asking price because there is limited supply
2. It remains unsold indefinitely
3. They eventually have to drop the price to sell
I guess it helps keep my collection and bank balance stable, though. I would have bought a lot more watches if people asked sensible prices (like they used to a few years ago).
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