Insanity! Where does it stop?

[BillA]

Price of a SS Daytona ranges between $38K to $42K, grey dealers, for a watch with an msrp of $13,150.

Where does it end? Is this insanity? Do people have this kind of money to burn? I just don’t get it.

End rant.

[Cdaddylutz]

It stops when people realize their throwing their money away.

Silly rabbits.

[swish77]

Originally Posted by Cdaddylutz

It stops when people realize their throwing their money away.

Silly rabbits.

Yeah, people said the same thing when Daytonas were selling for only double retail not too long ago. Those same people can now re-sell their Daytonas and make $10K. How is that insane or stupid?

And that's just from an investment standpoint. How about watch lovers who have the money and just want a Daytona to wear and enjoy? Not sure they're stupid either.

[absoluteczech]

Originally Posted by swish77

Yeah, people said the same thing when Daytonas were selling for only double retail not too long ago. Those same people can now re-sell their Daytonas and make $10K. How is that insane or stupid?

Ask someone that bought a house in 2007/8 the same question. It goes up until it doesn't.

[Sothy]

Originally Posted by absoluteczech

Ask someone that bought a house in 2007/8 the same question. It goes up until it doesn't.

Are houses cheaper in SoCal now than they were in 07/08? I’m not from there, but I was under the impression that they’re much more expensive now than even back then? I can totally see watch prices decreasing in the (near) future for several years. But 10 years after that? I’m not so sure. Who knows of course, but although many of us would have preferred to have gotten a house in 2010 vs 2008, 2008 prices are still lower than 2021 prices where I am from. But watches aren’t houses, hence why I have no idea what will happen...

[boogiebot]

Originally Posted by Cdaddylutz

It stops when people realize their throwing their money away.

Silly rabbits.

Exactly this! Look you guys have all heard the stupid saying “if a tree falls in the Forrest and no one is around, does it make a sound?” The fact that we as a community keep talking about this stuff over and over and over again; while continuing to buy these products suggests, we are all witness to the sound the tree makes when it falls. If “we” as the collective stop posting about this stuff and stop buying these watches at stupid prices then what happens?


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[BillA]

Originally Posted by boogiebot

Exactly this! Look you guys have all heard the stupid saying “if a tree falls in the Forrest and no one is around, does it make a sound?” The fact that we as a community keep talking about this stuff over and over and over again; while continuing to buy these products suggests, we are all witness to the sound the tree makes when it falls. If “we” as the collective stop posting about this stuff and stop buying these watches at stupid prices then what happens?


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Absolutely nothing happens. The TRF community makes up a minuscule group that buys watches. Sit next to someone on a plane with a fine timepiece and ask them if they ever heard of TRF. They have not. Even Rolex probably does not come to this forum, or maybe for a laugh.

[boogiebot]

Originally Posted by BillA

Absolutely nothing happens. The TRF community makes up a minuscule group that buys watches. Sit next to someone on a plane with a fine timepiece and ask them if they ever heard of TRF. They have not. Even Rolex probably does not come to this forum, or maybe for a laugh.

True. But we also help to push this narrative of exclusivity and hype. From an algorithmic standpoint TRF has very good SEO and SERP scores. Users on here sign up using a verified email. In most cases your email is also linked to your social profiles. So everything that we are doing, viewing and saying is being tracked from a consumer behaviour standpoint hence how the algorithm will score search results. So average users reading stuff on the net keep reading the same narrative, flippers, hot SS pieces, crazy pricing, how to build relationships with AD and the list goes on. Just my 2 cents.


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[Rori]

Originally Posted by Cdaddylutz

It stops when people realize their throwing their money away.

Silly rabbits.

This


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[DocHorton]

Originally Posted by Cdaddylutz

It stops when people realize their throwing their money away.

Silly rabbits.

They aren't throwing their money away, in fact it's exactly the opposite. They buy a Daytona and there's a pretty good chance in 6 months it's worth more than what they paid.

[WalterW]

It will never stop because the rich only get richer. Gotta park your millions somewhere right, why not watches

[AK797]

Originally Posted by WalterW

It will never stop because the rich only get richer. Gotta park your millions somewhere right, why not watches

Elon Musk's wealth alone is now at $230 billion, in light of this absurdity nothing seems that crazy any more. I've never had end of the world vibes before but if it were to happen soon I don't think I'd be that surprised or bothered any more.

[Seddyspaghetti]

Originally Posted by BillA

Do people have this kind of money to burn? I just don’t get it.

End rant.

What’s there not to get? There are people out there that have the money to buy these things.

Not sure why people love to pocket watch. If someone wants to spend their $38k on a Daytona then that’s their business.

Playing AD games and spending more than $38k on stuff you initially didn’t want when you have the money to buy a Daytona now can be seen as insanity.

[Calatrava r]

It seems to be working just fine at the moment for the parties involved. Rolex could increase Daytona production at anytime which would drop the used market values.

[jacky_lai]

Originally Posted by Calatrava r

It seems to be working just fine at the moment for the parties involved. Rolex could increase Daytona production at anytime which would drop the used market values.

Well, Rolex could decrease Dayton production and/or increase their price at anytime to support their values.

Everything goes both ways.

[mfnj]

Here's how it could stop (but it will never happen). Rolex severs relationships with all AD's and only sells through Rolex owned Boutiques and online. Only way you can purchase a watch is through Rolex which means no more watches for the greys! Demand might still exceed supply but then it might be a level playing field unless Rolex wants to play the games AD's are currently playing with VIP's and the "back room" stuff. As I said, will never happen!

[zengineer]

Originally Posted by mfnj

Here's how it could stop (but it will never happen). Rolex severs relationships with all AD's and only sells through Rolex owned Boutiques and online. Only way you can purchase a watch is through Rolex which means no more watches for the greys! Demand might still exceed supply but then it might be a level playing field unless Rolex wants to play the games AD's are currently playing with VIP's and the "back room" stuff. As I said, will never happen!

You will still have a significant percentage of buyers who will flip to grey dealers as long as market prices hold since the supply/ demand imbalance still exists.

Either make more watches or live with today's situation. ADs aren't the issue and luxury brands don't maintain their status by selling online like some bed sheet start up company.

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[Fleetlord]

No problem whatsoever for more people than one would expect.

[eltonbalch]

Originally Posted by Fleetlord

No problem whatsoever for more people than one would expect.

This pretty well sums it up, unfortunately

[Jmbarrack]

Originally Posted by Fleetlord

No problem whatsoever for more people than one would expect.

This is exactly it. For more than you think, a 40k Daytona is a drop in the bucket for them. Now with the rise in it's popularity, it's just being brought to their attention and they're buying these pieces without so much of a care in the world.

The fast rise of crypto millionaires is also a major cause. Many at this point are playing with house money --- For them, this is just another lower-risk asset class to park money in.

[teck21]

Originally Posted by Jmbarrack

This is exactly it. For more than you think, a 40k Daytona is a drop in the bucket for them. Now with the rise in it's popularity, it's just being brought to their attention and they're buying these pieces without so much of a care in the world.

The fast rise of crypto millionaires is also a major cause. Many at this point are playing with house money --- For them, this is just another lower-risk asset class to park money in.

It is easy and fun to attribute it to the new crypto rich.

It is worth remembering though that they represent only a tiny fraction of the world’s financial assets, and held by an even smaller fraction of the world’s population.

The true driver of mass wealth has always been, and will always be real estate.


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[Jmbarrack]

Originally Posted by teck21

It is easy and fun to attribute it to the new crypto rich.

It is worth remembering though that they represent only a tiny fraction of the world’s financial assets, and held by an even smaller fraction of the world’s population.

The true driver of mass wealth has always been, and will always be real estate.


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Yes, very true.

But these crypto rich guys are mostly young and big into hype and social media. That’s what’s fueling the majority of this fire.


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[joejet]

Originally Posted by Jmbarrack

Yes, very true.

But these crypto rich guys are mostly young and big into hype and social media. That’s what’s fueling the majority of this fire.


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Yep
+
the amount of watch content now on youtube there must be 5-6 hours a week of new content just on watches + many many hours on chats about watches. a few years ago there was virtually nothing.

[teck21]

Originally Posted by Jmbarrack

Yes, very true.

But these crypto rich guys are mostly young and big into hype and social media. That’s what’s fueling the majority of this fire.


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Possibly, but we don’t have the figures to know for sure, they are definitely the most conspicuous though.


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[VegasBaby]

Another one of these threads .....we get it.........you can't get the SS model you want at an AD..............move on...............whining and complaining on TRF won't help.

[Monty22]

Originally Posted by VegasBaby

Another one of these threads .....we get it.........you can't get the SS model you want at an AD..............move on...............whining and complaining on TRF won't help.

Thank you! There aren’t any “AD games” going on. Supply has way outstrips demand and any retailer would save things that are in high demand for their best customers. Just because you have $10-$15,000 of room on your credit card or in your bank account, it does not make you special. Sorry


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[Oxfordian]

Originally Posted by BillA

Price of a SS Daytona ranges between $38K to $42K, grey dealers, for a watch with an msrp of $13,150.

Where does it end? Is this insanity? Do people have this kind of money to burn? I just don’t get it.

End rant.

The reason why the prices are what they are is because people buy at that price.

If no one bought the watch at this price then the price would fall.

Hope this helps.

[jacky_lai]

Originally Posted by Oxfordian

The reason why the prices are what they are is because people buy at that price.

If no one bought the watch at this price then the price would fall.

Hope this helps.

I just got a second hand black dial for $32K. You'll never get a chance to buy one from AD for retail price. Sorry to say, but that's the reality.

[Oxfordian]

Originally Posted by jacky_lai

I just got a second hand black dial for $32K. You'll never get a chance to buy one from AD for retail price. Sorry to say, but that's the reality.

And this is the reason why prices are rising, people paying OTT prices for a watch that retails at a third (or thereabouts) of the price paid.

No criticism of you for doing so, its your money and you have the right to spend it as you see fit. But your post answers the OP's initial question.

As for me, well I'll probably never buy a Daytona, I am certainly not going to buy at above retail and my AD tells me that the wait is a long long time or never. I might be more enthusiastic if Rolex grew the watch a bit, added a mm or two, now that would interest me.

Congrats on getting the watch, may you enjoy it for many years to come.

[GMT Aviator]

Insanity?

More like stupidity!