The Rolex Forums   The Rolex Watch

ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX

Old 13 February 2020, 01:18 PM   #1
vancouverthunder
"TRF" Member
 
Join Date: Dec 2019
Location: Vancouver
Posts: 2
Panerai prices during a recession

If you were a Panerai enthusiast during the 2008 stock market crash and recession I am interested to know your thoughts on grey market prices of Panerai watches during this time. I do believe we will have another crash in the next 1.5 years (worse) and would wait if this affects prices. I like the PAM 911 but cant justified it at its price right now.
vancouverthunder is offline   Reply With Quote
Old 13 February 2020, 02:57 PM   #2
Zyfon
"TRF" Member
 
Zyfon's Avatar
 
Join Date: Jul 2015
Location: Thailand
Watch: Rolex & Panerai
Posts: 440
I personally believe that you can't put a monetary value on time and enjoyment. If waiting a few years to save some money makes you happy, then do it. Anything 'may' happen in the future.
Zyfon is offline   Reply With Quote
Old 13 February 2020, 09:25 PM   #3
AEC
2024 Pledge Member
 
Join Date: Feb 2009
Real Name: Tony
Location: Orchard Park, NY
Watch: Idiot Savant
Posts: 3,376
I think with your savvy for economics you already know the answer to this one.

Off topic, but after the 2008 event I picked up a 911, only mine had an engine with no coolant mounted at the wrong end
AEC is offline   Reply With Quote
Old 13 February 2020, 09:46 PM   #4
1William
2024 SubLV41 Pledge Member
 
Join Date: Nov 2010
Location: North Carolina
Watch: Rolex/Others
Posts: 47,787
The formula I use is what I can buy the watch for now. What the watch is bringing from a Grey or me selling to a buyer myself. What is the number between and that is the cost to me on the watch. Figure in how long you wear the watch and that is the cost. I typically buy pre-owned or new with a significant discount so those numbers are closer together but always a loss on a non-LE/SE Panerai. In a financial recession I found that Grey Dealers only wanted the popular historical models that where easier to move. If you want a Panerai buy it because you really like it but understand that in good or bad financial times the market to sell or trade is very different from Rolex or PP. I own three, my folly.
1William is offline   Reply With Quote
Old 14 February 2020, 12:12 PM   #5
vancouverthunder
"TRF" Member
 
Join Date: Dec 2019
Location: Vancouver
Posts: 2
Quote:
Originally Posted by 1William View Post
The formula I use is what I can buy the watch for now. What the watch is bringing from a Grey or me selling to a buyer myself. What is the number between and that is the cost to me on the watch. Figure in how long you wear the watch and that is the cost. I typically buy pre-owned or new with a significant discount so those numbers are closer together but always a loss on a non-LE/SE Panerai. In a financial recession I found that Grey Dealers only wanted the popular historical models that where easier to move. If you want a Panerai buy it because you really like it but understand that in good or bad financial times the market to sell or trade is very different from Rolex or PP. I own three, my folly.
Good insight. I am noticing that now on Craigslist in my area the Panerai's are not moving. I read a post that Panerai is coming out with numerous models this year....will be patient on this one. Besides I am still smitten with the Planet Ocean I recently purchased. Thanks.
vancouverthunder is offline   Reply With Quote
Old 15 February 2020, 07:22 AM   #6
uracowman
"TRF" Member
 
Join Date: Jan 2008
Location: Texas
Posts: 461
Quote:
Originally Posted by AEC View Post
I think with your savvy for economics you already know the answer to this one.
lol
__________________
PAM 372, PAM 424, PAM 720, PAM 968, AP 15500, 116610LV, 126710BLRO, Sistem51, G-Shock

Soon to come: AP 26401 RG, AP 15202OR, Patek 3940G
uracowman is offline   Reply With Quote
Old 15 February 2020, 08:20 AM   #7
Auto16610
"TRF" Member
 
Auto16610's Avatar
 
Join Date: Apr 2010
Real Name: Scott
Location: Santa Cruz
Watch: RolexOmegaPanerai
Posts: 1,182
Not sure about that.

I heard 1.5 years ago a crash was coming in 1.5 years. And in another 1.5 years we will hear the same thing.
Auto16610 is offline   Reply With Quote
Old 16 February 2020, 05:16 AM   #8
TCMS
"TRF" Member
 
Join Date: Jan 2012
Location: Chicago
Posts: 38
Quote:
Originally Posted by vancouverthunder View Post
Good insight. I am noticing that now on Craigslist in my area the Panerai's are not moving. I read a post that Panerai is coming out with numerous models this year....will be patient on this one. Besides I am still smitten with the Planet Ocean I recently purchased. Thanks.
In my humble opinion Panerais have been difficult to move for many many years. This isn’t a new issue.
TCMS is offline   Reply With Quote
Old 17 February 2020, 12:03 AM   #9
emtee
"TRF" Member
 
Join Date: Dec 2017
Real Name: Matt
Location: UK
Posts: 1,251
If you can’t justify it at the current price and are thinking about recessions then you should not be buying luxury watch period. I think people have got to obsessed with value retention when it comes to watches. These things you should buy because you love them and for no other reason. You will lose money if you sell them 99% of the time. I mean do you ever think about how much your designer jeans or trainers will be worth if you need to sell them? Of course not. You buy them because you love them and watches are no different in that regard they’re just a lot more expensive.
emtee is offline   Reply With Quote
Old 17 February 2020, 01:30 AM   #10
BrazenC5
2024 Pledge Member
 
BrazenC5's Avatar
 
Join Date: Jul 2014
Real Name: Chris
Location: Los Angeles, CA
Watch: 1665,1675,1680,SD4
Posts: 1,837
Quote:
Originally Posted by emtee View Post
If you can’t justify it at the current price and are thinking about recessions then you should not be buying luxury watch period. I think people have got to obsessed with value retention when it comes to watches. These things you should buy because you love them and for no other reason. You will lose money if you sell them 99% of the time. I mean do you ever think about how much your designer jeans or trainers will be worth if you need to sell them? Of course not. You buy them because you love them and watches are no different in that regard they’re just a lot more expensive.
Or BMW, Mercedes, etc, etc.

Sent from my SM-G975U using Tapatalk
BrazenC5 is offline   Reply With Quote
Old 17 February 2020, 03:27 AM   #11
Cryten
"TRF" Member
 
Cryten's Avatar
 
Join Date: Feb 2015
Location: Terrafirma
Posts: 2,655
Quote:
Originally Posted by vancouverthunder View Post
Good insight. I am noticing that now on Craigslist in my area the Panerai's are not moving.
Thats what I would expect. Would you buy a Panerai off Craig's List?

In my experience from keeping an eye on listings, the oversupply in the secondary market is drying up. Type any popular model into WatchRecon and you used to get pages of hits, now you only get a couple of watches, if any.
Cryten is offline   Reply With Quote
Old 3 March 2020, 12:20 PM   #12
Avs Fan
"TRF" Member
 
Join Date: Mar 2008
Location: Colorado
Posts: 2,513
I had two Panerai in 2008 - 000 and 232 - still have them. Regardless of financial times I enjoyed them both through the downturn and still do. Full disclosure my daughter now enjoys the zero.
Avs Fan is offline   Reply With Quote
Old 3 March 2020, 12:31 PM   #13
enjoythemusic
2024 Pledge Member
 
enjoythemusic's Avatar
 
Join Date: Nov 2012
Real Name: Steven
Location: Glocal
Posts: 21,198
Quote:
Originally Posted by Avs Fan View Post
I had two Panerai in 2008 - 000 and 232 - still have them. Regardless of financial times I enjoyed them both through the downturn and still do. Full disclosure my daughter now enjoys the zero.
Good man
__________________
__________________

----> Was Great Seeing Everyone At The TRF December 9 Tampa Meetup <----
https://www.rolexforums.com/showthread.php?t=968133

Love timepieces and want to become a Watchmaker? Rolex has a sensational school.
www.RolexWatchmakingTrainingCenter.com/

Sent from my Etch A Sketch using String Theory.
enjoythemusic is offline   Reply With Quote
Old 3 March 2020, 02:47 PM   #14
Fleetlord
2024 Pledge Member
 
Fleetlord's Avatar
 
Join Date: May 2013
Location: Vain
Posts: 6,023
Quote:
Originally Posted by vancouverthunder View Post
If you were a Panerai enthusiast during the 2008 stock market crash and recession I am interested to know your thoughts on grey market prices of Panerai watches during this time. I do believe we will have another crash in the next 1.5 years (worse) and would wait if this affects prices. I like the PAM 911 but cant justified it at its price right now.
If value retention and resale are any part of your decision process to buy a watch, then Panerai is not for you.

In fact, most brands won’t be.
Fleetlord is offline   Reply With Quote
Old 3 March 2020, 03:08 PM   #15
L_S_SHOE
"TRF" Member
 
L_S_SHOE's Avatar
 
Join Date: Oct 2019
Location: Tennessee, USA
Watch: 16800
Posts: 584
Quote:
Originally Posted by emtee View Post
If you can’t justify it at the current price and are thinking about recessions then you should not be buying luxury watch period. I think people have got to obsessed with value retention when it comes to watches. These things you should buy because you love them and for no other reason. You will lose money if you sell them 99% of the time. I mean do you ever think about how much your designer jeans or trainers will be worth if you need to sell them? Of course not. You buy them because you love them and watches are no different in that regard they’re just a lot more expensive.


Agree.


Sent from my iPhone using Tapatalk
L_S_SHOE is offline   Reply With Quote
Old 2 April 2020, 01:46 PM   #16
ajas
"TRF" Member
 
ajas's Avatar
 
Join Date: Nov 2013
Real Name: Will
Location: Kuala Lumpur
Watch: SubC, Pam, Speede
Posts: 3,146
Quote:
Originally Posted by Fleetlord View Post
If value retention and resale are any part of your decision process to buy a watch, then Panerai is not for you.

In fact, most brands won’t be.
Could not agree more.

It is hobby.
ajas is offline   Reply With Quote
Old 11 April 2020, 11:00 AM   #17
RoscoPico
"TRF" Member
 
Join Date: Jan 2020
Real Name: Chris
Location: USA
Watch: ingMe,WatchingYou.
Posts: 1,462
it's a fair question. i kinda got into watches accidentally after just wanting to fix an old aqua terra i had lying around. next thing i wanted a steel bracelet, 5 years and 30+ watches later, shite happens.

but i approached this a bit differently than the last hobby i dumped over 100k into. i tried to be patient and buy, primarily what i like and can afford, but secondly, at a fair price.

at least this time around if i haven't made any money, i also haven't lost it all, and i have been enjoying watches immensely.
and yeah, i haven't ever really seen panerai as an "investment" watch by any means
RoscoPico is offline   Reply With Quote
Old 11 April 2020, 09:32 PM   #18
Hollie_Rollie
2024 Pledge Member
 
Hollie_Rollie's Avatar
 
Join Date: Sep 2018
Location: U.S.A.
Watch: SD43
Posts: 3,353
I wasn’t around during the Panerai hyped years in the watch community. I was already under the impression that Panerais were pretty good value prior to our financial economic burdens. They may dip a little lower (possibly a couple hundred) but I don’t see how they could go much lower than they already are. I think in the watch community we’re going to see the biggest dip (and actually are seeing this now) with the hyped Rolex, AP, And PP pieces.
Hollie_Rollie is offline   Reply With Quote
Old 12 April 2020, 11:56 AM   #19
Marchy
"TRF" Member
 
Join Date: Jun 2019
Location: Asia
Posts: 64
This is exactly why I recently gotten myself a Panerai. Aside from having to scratch an itch, I know its the best value I can get on a watch unlike Rolex. At Rolex grey prices, I would get an AP or other brands instead.
Marchy is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Wrist Aficionado

My Watch LLC

WatchesOff5th

DavidSW Watches

Takuya Watches

OCWatches


*Banners Of The Month*
This space is provided to horological resources.





Copyright ©2004-2024, The Rolex Forums. All Rights Reserved.

ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX

Rolex is a registered trademark of ROLEX USA. The Rolex Forums is not affiliated with ROLEX USA in any way.