Prices not dropping?

[jb335]

Originally Posted by rolex16

But people quoting one or two grey sites can call it the true market? Because some are doing just that.

That is wrong too.

[Incroyable12]

Wonder what the prices are like at those dealer only watch and jewelry shows like the IWJG.

[rolex16]

Originally Posted by jb335

That is wrong too.

Thank you. Now objectively, if you see the same dealer drop the price on a posting by say 20% or a watch posted weeks ago at one price and at another dealer posted recently for 20% less, those would be indicators of a price drop around 20% for the respective models, right?

[Edfrozen]

He is a grey dealer. He hates Rolex because he has no pipeline
Check his videos from years back
He has no credibility with me

[Edfrozen]

Watchbox is terrible. They are a ripoff house
They have been quoting me for 6 months on hot watches I own
They offered me a full 20% LESS than any other dealer
The 3 watches that they quoted me on , I wound up selling to another dealer for 20% more than they offered me .
On top of that they are rude , not returning phone calls and have an arrogant attitude.
I certainly would not judge market conditions on their quotes.
They attempt to take advantage of the naive seller.

[17noir]

Originally Posted by Edfrozen

Watchbox is terrible. They are a ripoff house
They have been quoting me for 6 months on hot watches I own
They offered me a full 20% LESS than any other dealer
The 3 watches that they quoted me on , I wound up selling to another dealer for 20% more than they offered me .
On top of that they are rude , not returning phone calls and have an arrogant attitude.
I certainly would not judge market conditions on their quotes.
They attempt to take advantage of the naive seller.

I had dealt with WB in Hong Kong for a few transactions. They are not the best in terms of service, and follow ups BUT compared to local dealers in HK - they are much better. Although their offer prices are low, it was still better then about 10 local dealers I've asked.

My thoughts - yes, prices have definitely dropped especially the hype models. Easily 20% such as a Panda, or PP. This started back in early April when I was trying to trade a few pieces (Daytona, AP RO) and local dealers won't even reply to my request for trade in, but will reply when I wanted to just buy in cash. That got me thinking if the market is about to reverse, and I tried to check with about 5 more dealers, and none of them quoted me on my watches. Then on local forum/chat groups, you get bullied by either dealers/flipper or people who bought high. Now they've gone into hiding, and will come out if/when prices rebound.

[teck21]

It is interesting because I started a thread in October last year (7 months ago now) asking when the Rolex bubble will burst.

I used the 116500LN Panda at US$31,000 as the price reference.

How much would one pay now for BNIB?


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[rolex16]

Originally Posted by teck21

It is interesting because I started a thread in October last year (7 months ago now) asking when the Rolex bubble will burst.

I used the 116500LN Panda at US$31,000 as the price reference.

How much would one pay now for BNIB?


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The stock market is lower than January but higher than 2 years ago. Does that mean it is not dropping? What is your point?

[eijiboy]

Blnr now below 20k on fb group




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[jb335]

Originally Posted by rolex16

Thank you. Now objectively, if you see the same dealer drop the price on a posting by say 20% or a watch posted weeks ago at one price and at another dealer posted recently for 20% less, those would be indicators of a price drop around 20% for the respective models, right?

I never said prices weren’t dropping.

I said it was misleading to use a price on Moda as the only price point. That Moda prices were more wholesale and lower than the average market price.


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[rolex16]

Originally Posted by jb335

I never said prices weren’t dropping.

I said it was misleading to use a price on Moda as the only price point. That Moda prices were more wholesale and lower than the average market price.


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I wasn’t saying you specifically, just asking whether that made sense given your viewpoint. Because some just seem to think it makes no sense when to me, the evidence is right in front of people.

[Moondoggy]

Prices have come off, sure there is still a lot of silliness out there, it is a fact I can get a panda cheaper now then a few weeks ago.

KISS principle applies here, however some people just can't help to complicate things unnecessarily.

[Njkdog]

Originally Posted by eijiboy

Blnr now below 20k on fb group




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To me that’s actually fair. After tax that retails at what? 12,500? It’s brand new, presumably never been worn, I think just shy of 20k is fair. That train if thought. A five year old one would be what? 15k. I’d actually buy that if I liked it enough. What group is that?

[sneakertinker]

This thread, hell, this whole damn forum

[Slambonie]

Originally Posted by Njkdog

To me that’s actually fair. After tax that retails at what? 12,500? It’s brand new, presumably never been worn, I think just shy of 20k is fair. That train if thought. A five year old one would be what? 15k. I’d actually buy that if I liked it enough. What group is that?

i know you're trolling but yes good deal if you have more money than brains

[rolexpatek363]

Originally Posted by Podmornica

Wrong, subs are falling the most. Especially the 124060. In EU at least.

Not according to the graphs on C24 - the 124060 is level, no big drop at all.

[eijiboy]

Originally Posted by rolexpatek363

Not according to the graphs on C24 - the 124060 is level, no big drop at all.

Chrono is always inflated. 124060 selling for 13700 to 1400 compare to 15k avg on c24

[Moondoggy]

Originally Posted by eijiboy

Chrono is always inflated. 124060 selling for 13700 to 1400 compare to 15k avg on c24

is seriously garbage, a lot of the watches are not even in possession of the seller hence a little more expensive so when they source there is a bit on top for them.

[eijiboy]

Originally Posted by Moondoggy

is seriously garbage, a lot of the watches are not even in possession of the seller hence a little more expensive so when they source there is a bit on top for them.

Exactly. Havent you notched something? most people here quoting price of dsw and c24 telling us that price hasn't gone down. DSW panda hasnt even sold lol. its been there for few weeks now and they tell us its the markept price. ive been monitoring it. dsw meteorite gmt have gone down from 98 to 79k.

[jj312]

Originally Posted by rolexpatek363

Not according to the graphs on C24 - the 124060 is level, no big drop at all.

You can’t trust prices on C24, they’re all super inflated.

[Sandpit]

Originally Posted by jj312

You can’t trust prices on C24, they’re all super inflated.

This has been raised to this poster before. For whatever reason he will just refuse to acknowledge price drops.

[David001]

Originally Posted by rolexpatek363

Not according to the graphs on C24 - the 124060 is level, no big drop at all.

Ok, here we go again.

My wife has a 41mm DJ Wimbledon that we bought from our AD and she doesn't wear much, so she thought of selling and putting the money towards something else. She contacted some dealers and every single one offered below retail.

C24 prices show no drop at all and a 44% 'profit' from retail, but dealers are offering below retail.

It's a massive smoke and mirrors game and it's a very unhealthy place for the watch collecting hobby to be. Anyone with any kind of conscience shouldn't be trying to perpetuate the myth that all Rolex are investment watches, fortunately it's no big deal and we don't need the money, but there are people getting caught up in it that can't afford to lose their money.

[eijiboy]

Originally Posted by rolexpatek363

Not according to the graphs on C24 - the 124060 is level, no big drop at all.

Another one for you




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[David001]

How about another one.

I have a brand new 41mm Sub that my AD called me about and said someone had just turned it down, do I want it? I bought one as a gift when they came out but I thought I'd get this one for myself, then I have one of each of the last 3 iterations of Sub.

Anyway, I'm chatting to a dealer I know and I asked how much he'll give me for it, he says $500 over retail. I asked why so low and he said the market is flooded with them, hundreds are advertised and if he actually wants to sell it then he'll have to sell for about $15-16k in the current circumstances and he wants 20-25% profit in it in case he gets stuck with it and they go down more, which he thinks they will.
C24 shows me 69% profit over retail, it's a joke.

I'm not selling it, they'll go to the grave with me, but that's the reality of pricing now.

[Mathematoxic]

Originally Posted by David001

How about another one.

I have a brand new 41mm Sub that my AD called me about and said someone had just turned it down, do I want it? I bought one as a gift when they came out but I thought I'd get this one for myself, then I have one of each of the last 3 iterations of Sub.

Anyway, I'm chatting to a dealer I know and I asked how much he'll give me for it, he says $500 over retail. I asked why so low and he said the market is flooded with them, hundreds are advertised and if he actually wants to sell it then he'll have to sell for about $15-16k in the current circumstances and he wants 20-25% profit in it in case he gets stuck with it and they go down more, which he thinks they will.
C24 shows me 69% profit over retail, it's a joke.

I'm not selling it, they'll go to the grave with me, but that's the reality of pricing now.

I’m afraid this is the fact now. There are actually so many pieces of Rolex available but majority goes to flippers.

[Sandpit]

Originally Posted by David001

How about another one.

I have a brand new 41mm Sub that my AD called me about and said someone had just turned it down, do I want it? I bought one as a gift when they came out but I thought I'd get this one for myself, then I have one of each of the last 3 iterations of Sub.

Anyway, I'm chatting to a dealer I know and I asked how much he'll give me for it, he says $500 over retail. I asked why so low and he said the market is flooded with them, hundreds are advertised and if he actually wants to sell it then he'll have to sell for about $15-16k in the current circumstances and he wants 20-25% profit in it in case he gets stuck with it and they go down more, which he thinks they will.
C24 shows me 69% profit over retail, it's a joke.

I'm not selling it, they'll go to the grave with me, but that's the reality of pricing now.

So it seems it’s the sellers that are taking the real hammering on prices now, but sounds very greedy from the grey dealer.

All I hope for is that this is enough to put people off from buying to flip. I think it will

[Fleetlord]

Originally Posted by Edfrozen

He is a grey dealer. He hates Rolex because he has no pipeline
Check his videos from years back
He has no credibility with me

Yep....he is always against Rolex as the margins suck and he wants to push "junk" that he rips for peanuts. His prerogative for sure, but definitely has an agenda.

[Moondoggy]

All I hope for is that this is enough to put people off from buying to flip. I think it will

This, this, this.

[David001]

Originally Posted by Sandpit

So it seems it’s the sellers that are taking the real hammering on prices now, but sounds very greedy from the grey dealer.

All I hope for is that this is enough to put people off from buying to flip. I think it will

I think a lot of people have unrealistic expectations of what they can get when they want to sell. A bricks and mortar established dealer will surely want 20%+ profit in his stock. I don't watch the Youtube guys much but I'm sure I saw one with David Khalil (I think that's his name) saying that reputable established bricks & mortar watch dealers will look for 30% to cover overheads and costs.

Maybe the suitcase and work from home dealers will be ok with less.

I don't think it's going to be a massive disaster or anything, but the hype will drop and we'll go back to pre-2019 pricing.

Most of the crazy prices is pure speculation fed by FOMO people with too much money splashing out. As the FOMO's leave the scene it will drift back to what it was like 5yrs ago.

If you're into the markets or run a business or have any kind of interest in that sort of stuff then it's a really interesting market to pay attention to, we're witnessing the rise and fall of a speculative event.

[rolexpatek363]

Originally Posted by jj312

You can’t trust prices on C24, they’re all super inflated.

Irrelevant, I'm looking at trends, and even if prices on C24 are "all super inflated", the price trend - up, down, or flat - is the same.

Some Rolex models do show a decline on C24, others are flat, and others are going up.