Question regarding Daytona, resale value and WHAT TO DO!?

[redcalx]

So a few months back, I decided I was going to purchase either a new Daytona Black Dial, or the GMTIIc.

I went to an AD here in the Netherlands and of course they had neither. They laughed when I asked about the Daytona, and laughed even more when I asked to be put in the waiting list for one.

Well, time went on and I ended up buying a GMTIIc from DavidSW here on the forum and decided I would save for the Daytona which I was told would take at least a year to get.

Sure enough, I got the call yesterday that the Daytona is in and waiting for me.

Here's my question. I'd like to buy it, but it would clean out my spending cash at the moment and I don't really need it. I love my GMTIIc but I also can't live with the idea of passing on this great watch.

So.. I'm wondering, if I buy it today, don't wear it and decide in a week or two that I want to sell it, will I lose money, break even, or perhaps even turn a profit?

If I decide I want the Daytona, and to flip either my GMTIIc or my older GMT, is there anything I can do to polish both watches up to look brand new (GMT has some knicks on the bezel and the case, scratches on the bracelet, GMTIIc is nearly perfect, just some scratches on the clasp).

What to do!?

[JPS]

You've said that you love your GMTIIc and buying the Daytona would clean you out. My advice, keep the GMTIIc which you love and save your money.

[Singslinger]

How much is the AD charging for the new Daytona? If it's a premium to the list price, then I'd forget it. If it's the list price (or less, though this is unlikely) then you're at least hedged slightly in case you decide to flip it in the near future.

IMO though, you should only buy a watch if it sings to you and you're definitely going to wear it.

[Rolexroz]

You are very lucky in one respect but unlucky in another. Rolex values are holding up well in comparison with other makes but they are still not as strong as they were even 6 months ago. This is great if you are buying as the likes of the steel GMTC is available for 15% + off list at present.

Your GMT on the other hand is now going to be worth a lot more than it was 18 months ago as values have soared, so that should be good news. But will they climb higher and should you perhaps keep it longer to make more from it?????

The Daytona is a nuisance watch. We all know how rare it is and how much we want one, until you own one and then iit is just a watch, but with the lack of a date feature can be slightly annoying.

Rolex are outstandlingly tough and they can be brought back to as new condition by means of a good service from Rolex. But servicing a Rolex is as dear, if not dearer than servicing a good quality car. And it does not matter how tidy and clean your watch looks it is still a used watch.

If you were to buy the Daytona and sell it privately you would make around 5-10% profit. Or keep it in the safe it will no doubt increase in value as time goes on, by how much is anyone's guess.

It all really depends on your financial position.

I do not know if you have similar deals as we have in the UK, but here many Credit Card companies are offerring 0% deals on purchases for up to 16 months. My advice would be to grab one of these cards and buy the Daytona. You then have a considerable time to sell it for a price which hopefully suits you. Or alternatively sell one or both your other watches to pay for the Daytona.

Either way, it is a good position to be in and one which most of us can only dream about.

Rolexroz

[rodo]

Originally Posted by Rolexroz

You are very lucky in one respect but unlucky in another. Rolex values are holding up well in comparison with other makes but they are still not as strong as they were even 6 months ago. This is great if you are buying as the likes of the steel GMTC is available for 15% + off list at present.

Your GMT on the other hand is now going to be worth a lot more than it was 18 months ago as values have soared, so that should be good news. But will they climb higher and should you perhaps keep it longer to make more from it?????

The Daytona is a nuisance watch. We all know how rare it is and how much we want one, until you own one and then iit is just a watch, but with the lack of a date feature can be slightly annoying.

Rolex are outstandlingly tough and they can be brought back to as new condition by means of a good service from Rolex. But servicing a Rolex is as dear, if not dearer than servicing a good quality car. And it does not matter how tidy and clean your watch looks it is still a used watch.

If you were to buy the Daytona and sell it privately you would make around 5-10% profit. Or keep it in the safe it will no doubt increase in value as time goes on, by how much is anyone's guess.

It all really depends on your financial position.

I do not know if you have similar deals as we have in the UK, but here many Credit Card companies are offerring 0% deals on purchases for up to 16 months. My advice would be to grab one of these cards and buy the Daytona. You then have a considerable time to sell it for a price which hopefully suits you. Or alternatively sell one or both your other watches to pay for the Daytona.

Either way, it is a good position to be in and one which most of us can only dream about.

Rolexroz

values have soared? I certainly hope you're talking about list price and it's associated price increases. If you're referring to used pieces then you should know that prices are at an all time low (for the past year), and the GMT IIc is no exception, of which there are examples available for under 5k.

[allanofcalifornia]

You will end up losing money if you buy the Daytona. You will have to decide how badly you want it. If you really want it badly, then I would buy the Daytona and sell the GMT but only if this is the watch you really want. Otherwise, be happy with your GMT.


Allan

[33JS]

I think the Daytona's 'maxed out' price wise for the moment, particularly in this economic climate. Rolex has all but killed the aura of mystery by raising the price too much. I had a check on eBay yesterday and the number of unsold, SS, List Price Daytonas was startling...... Just check the 'Completed Listings' section and see how many haven't sold.

[MASSIMO OSTI]

keep what you've got,if you really wanted the daytona you would go buy it

[Tools]

The idea that you would think about what to do if you only kept it a week, then may decide to sell it says that you really are not that interested in the watch..

With that in mind, you could still buy it, but keep it perfectly intact, down to the stickers etc..... You will find a buyer for it at what you bought it for... perhaps more as the economy improves... but you won't get rich on this piece...

[bodybump]

are you buying the watch because of the hype that people adore it as a grail watch? or you buying the watch because you really love it??? Like what everyone said..seems like you dont really like the watch..I agree with Larry..the fact that your buying it and decide to sell it later shows that you are half hearted on buying it..i think the adrenaline of having the watch avavilable for you and hard to get in your country makes you wanna buy it..And to answer your question..YES!!! You will loose money...