Interesting and good news

[Aventura]

https://www.bloomberg.com/news/artic...and-patek-fall

In my modest opinion, this is only the beginning of a trend that was coming in 2023.

[Bill2e]

Good, maybe we will able to buy watches when we want to again.

[BillA]

I hope this is correct.
Yesterday I was at the new Tourneau/Bucherer in White Plains, NY and for the first time in 2 years I saw mens and womens watches for sale, not exhibition pieces. So bring it on…

[Mystro]

This seems like a “Watchfinder” promo piece and nothing else. "……We are slashing prices, so visit Watchfinder”.

[BillA]

Originally Posted by Mystro

This seems like a “Watchfinder” promo piece and nothing else.

Interesting view, I did not see it that way.

[Mystro]

Originally Posted by BillA

Interesting view, I did not see it that way.

It’s a marketing tool to have Bloomberg do a story(puff piece) to insert information for promotional purposes. Promotion, disguised as news and it’s not even transparent. The last paragraph is straight up shameless promotion for the site.

[GGGMT]

Originally Posted by Mystro

It’s a marketing tool to have Bloomberg do a story to insert information for promotional purposes. Promotion, disguised as news and it’s not even transparent. The last paragraph is straight up shameless promotion for the site.

This


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[jb335]

Originally Posted by Mystro

It’s a marketing tool to have Bloomberg do a story(puff piece) to insert information for promotional purposes. Promotion, disguised as news and it’s not even transparent. The last paragraph is straight up shameless promotion for the site.

I think you’re right……unless…..it’s happening


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[tifosi]

Originally Posted by jb335

I think you’re right……unless…..it’s happening


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Beat me to it.

[garyk]

Originally Posted by Mystro

It’s a marketing tool to have Bloomberg do a story(puff piece) to insert information for promotional purposes. Promotion, disguised as news and it’s not even transparent. The last paragraph is straight up shameless promotion for the site.

Absolutely correct!!!

[dchernikoff]

I'm hopeful. I was just offered a LV Sub by my AD - he texted me out of the blue saying "I found that watch you wanted", when in fact I had asked for a HULK 5 years ago and he wasn't able to get that. I didn't answer his text right away, so he texted me again the next day to say he grabbed the watch and was saving it for me. First time we've spoken at all since the Pandemic started, so I thought it was a bit odd. (But I got the watch anyway, and I was grateful to the AD for remembering me!)

In any case, might be indicative of supply catching up to demand. Why txt a cold customer twice, if "they can sell every watch they get"? And I checked a bit on Chrono24 and Bobs, and sale and offer prices for the LV have come down quite a bit over the last year (going rate used to be 17 or 18K or more, now they're going at 16 fairly consistently, it seems).

I know, one model doesn't make it an industry trend, but in this one case used prices are down, and my AD is calling around trying to get rid of it (hyperbole, of course)...

-Dan

[Calatrava r]

How many watches can folks buy. Market has to soften in any normal cycle. I would not place much importance on the used market. The new market is what really matters and it remains robust as ever. Used watch dealers can price stuff at whatever they want in terms of asking price. New dealers cannot. If inventory slows at new dealers, that would mean something.

[huncho]

Originally Posted by Calatrava r

How many watches can folks buy. Market has to soften in any normal cycle. I would not place much importance on the used market. The new market is what really matters and it remains robust as ever. Used watch dealers can price stuff at whatever they want in terms of asking price. New dealers cannot. If inventory slows at new dealers, that would mean something.

i agree. we're now almost a year into the "it's happening" narrative and for the most part watches that were difficult to get at ADs are still as difficult to get and the ones that were impossible remain impossible. whether or not that's due to such a long list of demand from previous years remains to be seen, but it's just amusing that people continue to ignore the AD picture and only focus on grey prices. granted they have definitely crashed, but the overall picture remains the same, if you want a watch you're better off going grey

[jb335]

Feels like a story from 9 months ago. Prices are holding and many models creeping up.


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[rockysw]

its good to see that some players are finally admitting this. The softening of the pre-owned prices has a huge impact in my opinion. It is now easier to balance the premium one would have to pay on other brands/jewellery with the AD compared to going gray to pay premium on rolex (for a lot of models anyways).

[rockysw]

And in addition, witchfinder has a 24 hours flash sale for Rolexes in UK.

[huncho]

Originally Posted by rockysw

And in addition, witchfinder has a 24 hours flash sale for Rolexes in UK.

i'm sure even with the sale they're more expensive than market value lol

[Harry-57]

The UK sale has been extended. Oh the joy! I have to give them their due though, high though their asking prices are, they will negotiate and in my limited experience they are the easiest pre owned seller to negotiate with. They also offer the best prices to sellers.

The article is a glorified advert which will have been sponsored in some way by Watchfinder. It's common practice.

[Eric-London]

Watchfinders inventory have always been at least 20% more than other greys so there is that.

[clubrcr]

The grey market prices have started to decline, that is obvious. But I don't expect Rolex to be cutting prices or having all of their watch available anytime soon. They can always limit production or limit distribution on their most popular models and don't forget, there is still plenty of demand based on the waiting list stories. Maybe one day the unpopular models will be available for a discount.

[MJZRolex]

I'm not seeing any bargain prices.

[Number3]

Advertorial.

[1William]

Propaganda and speculation in a non-transparent market. I get the prices have softened from peaks but in a worldwide market with so many moving parts and so little verifiable information most of the "It's happening now" is wishful thinking. You are not going to get a SS Daytona-C from an AD without significant purchase history. Other watches follow down the line.

[kwingy]

The biggest drop I saw was the SS blue sky dweller - 29k to 21k! I was like wow.

[gramo]

Paul Thorpe confirmed in one of his recent videos that he was sat outside a pub in London and was handed a discount flyer for Watchfinder which is also a sign that they must be quiet.

[legacy404]

Saw the flash sale notification for Rolex also. Here comes the dump... too much unsellable inventory in these economic conditions.

[Harry-57]

Originally Posted by gramo

Paul Thorpe confirmed in one of his recent videos that he was sat outside a pub in London and was handed a discount flyer for Watchfinder which is also a sign that they must be quiet.

This proves that Watchfinder were not handing out discount flyers.

[amh]

Originally Posted by dchernikoff

I'm hopeful. I was just offered a LV Sub by my AD - he texted me out of the blue saying "I found that watch you wanted", when in fact I had asked for a HULK 5 years ago and he wasn't able to get that. I didn't answer his text right away, so he texted me again the next day to say he grabbed the watch and was saving it for me. First time we've spoken at all since the Pandemic started, so I thought it was a bit odd. (But I got the watch anyway, and I was grateful to the AD for remembering me!)

In any case, might be indicative of supply catching up to demand. Why txt a cold customer twice, if "they can sell every watch they get"? And I checked a bit on Chrono24 and Bobs, and sale and offer prices for the LV have come down quite a bit over the last year (going rate used to be 17 or 18K or more, now they're going at 16 fairly consistently, it seems).

I know, one model doesn't make it an industry trend, but in this one case used prices are down, and my AD is calling around trying to get rid of it (hyperbole, of course)...

-Dan

The Green subs were always the "red-headed stepchild" in the AD case. It will be the first to have Hype wear off.

[SLWoodster]

Pricing now slightly more other grey dealers.

Not getting as much of a premium anymore.

[Nads786]

Once the spread shrinks, I assume it will cause increased interest with ADs to purchase Rolexes but the purchaser will probably be someone who wants the watch rather than purchase to flip.

It should decrease demand. When you search Rolex in google one of the first hits that comes up is "is Rolex a good investment."