Watch Finder UK slashing their prices

[grimps]

I’ve just had an email from Watchfinder advertising their prices being dropped , it looks to be around 10% .
I wonder if this an adjustment due to the stronger pound , or maybe more supply is coming through and people won’t oay their prices now

[MikePRT]

From what I can see not sure if their Rolex prices have been reduced. I was looking at a Rolex 126331 a month ago...it’s still there now at the same price.

[kwingy]

Isn't this just a flash sale? I think the prices will go back to normal after the sale period.

[SeaDweller50]

I received an email from them recently asking why I never accepted their offer for the sale of my SD4K. I replied stating that I sold to one of their competitors for 1.7K more. They didn’t reply.

[Sailaway]

I am not surprised..... they had two Sub ND (retail £5450) at over £7500 recently - both unworn and unsold! They seem to have reduced one but not the other at the moment. I guess I was lucky - picked one up this month at retail from an independent AD after a wait of three weeks. Stickers removed at point of sale but all papers/tags/warranty given to me without a conversation

[jay_kay]

Its a flash sale that is only available to people on their mailing list and access the site through the emailed link. No real great saving TBH.

[tyler1980]

Originally Posted by grimps

I’ve just had an email from Watchfinder advertising their prices being dropped , it looks to be around 10% .
I wonder if this an adjustment due to the stronger pound , or maybe more supply is coming through and people won’t oay their prices now

I think the amount of inventory they have, the fact they have recently avoiding buying some high value watches that they would not have trouble selling, as well as the much lower than normal buy prices indicates a cash flow issue.

As long as the secondary market is hot, they have tons and tons of people selling their watches to them so in a sense the market is so hot for flippers, they can't afford to buy everything being thrown at them.

They have a lot of money tied up and they need to have more buyers and they just have too many sellers at the moment.

Thats my take anyway.

[Zakalwe]

It's a bit weird.

They've dropped the price of an LVc that has been sitting there for months from £9400_odd to £8600-odd. But the other 3 LVc's they have on there are unchanged in price, including a 2014 model for £8900.

[galtinuk]

Interesting, they showed me a really low price on a watch I wanted to trade for a more expensive watch. It was a highly liquid watch that I wanted to trade for a less liquid watch so I was especially surprised.

And when I say low, I mean even low relative to other dealers in London. Some of those offers we're cash offers---not even trade offers..

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[Stevec14]

I was speaking to a couple of people I know well in there the other day. Apparently it’s quite slow and I’ll be honest I’m not surprised.

As far as Rolex is concerned they have tons of datejusts clogging up the cabinets, and anything decent is priced up at such a premium that people look at the retail and think twice. 7.5k for a no date sub is a good example.

Maybe the market has hit the limit in terms of grey pricing and we will get back to where we were last summer/autumn with approx 10% off current prices.

There’s lots of money out there, but people are not necessarily stupid enough to spend 9.5k on a hulk, when they know it’s approx 50% over retail.

[ARTISAN]

watchfinder have high overheads and need to sell sh-t loads , someone has a load of cash invested in them.

[galtinuk]

So odd..I was willing to sell them such a liquid watch and would have taken a much less liquid and more expensive watch off their hands and they basically didn't seem to care much..

Seems like it should have been a golden opportunity to reduce the notional value of their inventory and make it more liquid at the same time. Maybe there is a reason they are not able to move their inventory--they are requiring way too mich margin to do a deal...



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[Stevec14]

Originally Posted by Stevec14

I was speaking to a couple of people I know well in there the other day. Apparently it’s quite slow and I’ll be honest I’m not surprised.

As far as Rolex is concerned they have tons of datejusts clogging up the cabinets, and anything decent is priced up at such a premium that people look at the retail and think twice. 7.5k for a no date sub is a good example.

Maybe the market has hit the limit in terms of grey pricing and we will get back to where we were last summer/autumn with approx 10% off current prices.

There’s lots of money out there, but people are not necessarily stupid enough to spend 9.5k on a hulk, when they know it’s approx 50% over retail.

This must be a first - a reply to my own comment. But thinking about it we all thought a Price increase was a certainty, but it hasn’t hppened. Maybe this is part of Rolex plan to take on the greys? Limit the premium get the interest back up. Once reduced, slightly increase supply to command interests again. Who knows.

[tyler1980]

Originally Posted by Stevec14

This must be a first - a reply to my own comment. .

don't mind us... carry on

[Stevec14]

Originally Posted by tyler1980

don't mind us... carry on

I will. I’ll have a few more light bulb moments later

[tyler1980]

Originally Posted by Stevec14

This must be a first - a reply to my own comment. But thinking about it we all thought a Price increase was a certainty, but it hasn’t hppened. Maybe this is part of Rolex plan to take on the greys? Limit the premium get the interest back up. Once reduced, slightly increase supply to command interests again. Who knows.

WF is doing a good job of killing the flipping market all by themselves, although it is probably not their intent. They are offering below retail to buy almost all hot Rolex models. What the are selling them for is irrelevant because almost all of their stock comes from individual flippers and they are not sourcing the watches themselves.

Offering below retail stops the incentive to flip and thus kills their supply chain. Its only a matter of time if this keeps up.

[Stevec14]

Yep agreed in the main, however They could keep it up by selling the said watches at a less punitive premium, but in essence it’s the same thing. Pay for the part ex and you’ll sell the next watch. Don’t pay and you won’t get the watch.

There’s a balance to get to and I think they’ll get there.

[05carbondrz]

Originally Posted by Stevec14

I was speaking to a couple of people I know well in there the other day. Apparently it’s quite slow and I’ll be honest I’m not surprised.

As far as Rolex is concerned they have tons of datejusts clogging up the cabinets, and anything decent is priced up at such a premium that people look at the retail and think twice. 7.5k for a no date sub is a good example.

Maybe the market has hit the limit in terms of grey pricing and we will get back to where we were last summer/autumn with approx 10% off current prices.

There’s lots of money out there, but people are not necessarily stupid enough to spend 9.5k on a hulk, when they know it’s approx 50% over retail.

MSRP on the Hulk is $9,050 USD....How is $9,500 a 50% markup?

[tyler1980]

Originally Posted by 05carbondrz

MSRP on the Hulk is $9,050 USD....How is $9,500 a 50% markup?

£ not $

UK money, the bills with the queen on them

[05carbondrz]

Got Ya,I forget how weak the Dollar is.

[tyler1980]

Originally Posted by 05carbondrz

Got Ya,I forget how weak the Dollar is.

Im based in USD and UK rolex used to be way, way more on sale than now assuming you could find one. The pound has gotten stronger for sure in the past couple of years.

[AK797]

Originally Posted by tyler1980

WF is doing a good job of killing the flipping market all by themselves, although it is probably not their intent. They are offering below retail to buy almost all hot Rolex models. What the are selling them for is irrelevant because almost all of their stock comes from individual flippers and they are not sourcing the watches themselves.

Offering below retail stops the incentive to flip and thus kills their supply chain. Its only a matter of time if this keeps up.

Indeed, I think they are hitting a wall now and prices will have to rise on their bids, but they are still reluctant to drop asks on their new models, most price cuts are for the older ones.

We've been criticising greedy Spreadfinder for a while now so maybe it all takes its toll.

[torifile]

Originally Posted by Zakalwe

It's a bit weird.

They've dropped the price of an LVc that has been sitting there for months from £9400_odd to £8600-odd. But the other 3 LVc's they have on there are unchanged in price, including a 2014 model for £8900.

Do they do consignment? It might be that the seller let them lower the price.

[AK797]

Originally Posted by torifile

Do they do consignment? It might be that the seller let them lower the price.

no

[rootbeer7]

They had a late 90s 16570 Polar B&P dropped to around £4K which I think was the only piece worth considering. The rest were still overpriced