I agree more with Alex's point of view.
Short term and few samples do not tell me much. There are more important questions - like those Alexs poses.
20 years or so ago there was a big bubble in the second hand market, especially with Rolex watches. The situation today bears some similarities but not many.

Some things I can say.
1) Vintage watches will become rarer everyday and certainly never again as common as in first ebay years.
2) The bad thing is that less samples means less newcomers to the hobby.
3) The more important threat to vintage watches is not the economic crisis, but the competition from new watches. Right now there is a lot of money to be made in the watch industry - enough for everyone. New watch companies are created every week. When demand slows they will fight each other intensely with more, new (more interesting) offerings. This could well attract interest from the vintage market to the "new watch" market.