Market down, who wants to pay the premium

[YGRLX]

I was considering paying 21500usd yesterday for a black Daytona C until I saw the market in the red 600 points today. Who else feels like the market moving down is going to cool this craziness?

[PatronMTL]

Wishful thinking...until the market goes up 500 points tomorrow

Honestly i would much prefer avoiding a market crash and continue not being able to get a watch then to hope for a crash which will ruin many lives.... 2008 was not fun for anyone

[SPMN]

For a DaytonaC? No way. Even if the market corrects heavily the Daytona will still trade at a premium. If you want it, don't try to time the market. It'll just start to cost you more and more.

[t65tampa]

No, I don't think any market vacillations are going to significantly affect the secondary watch market.

I would never pay $21.5K for a $12.4K watch.

[derekhayden]

Originally Posted by PatronMTL

Honestly i would much prefer avoiding a market crash and continue not being able to get a watch then to hope for a crash which will ruin many lives.... 2008 was not fun for anyone

100%.....yep it's just a watch.

[Navarino]

Originally Posted by PatronMTL

Wishful thinking...until the market goes up 500 points tomorrow

Honestly i would much prefer avoiding a market crash and continue not being able to get a watch then to hope for a crash which will ruin many lives.... 2008 was not fun for anyone

Agreed. If we had a repeat event like that my first thought would not be calling up ADs to see if all the hard-to-get models were now available. Damage control on the portfolio would certainly come first and be a bigger priority.

[m j b]

The market downturn is temporary, I believe, and regardless, even a 10% drop isn't going to impact most Rolex buyers.

And $21,500 seems high for a black daytona. Seems like they were going for mid-upper teens not that long ago?

[Littletommy]

Today’s market will have no effect on Rolex pricing

[81sforlife]

Originally Posted by PatronMTL

Wishful thinking...until the market goes up 500 points tomorrow

Honestly i would much prefer avoiding a market crash and continue not being able to get a watch then to hope for a crash which will ruin many lives.... 2008 was not fun for anyone

Totally agree

[YGRLX]

I would never want a market downturn just to buy a watch.... in fact, I would give all of my watches away to avoid one. I was just saying that being at the peak of the market makes everyone want to spend, and a pull back definitely takes it away.

[jsausley]

Originally Posted by YGRLX

I was considering paying 21500usd yesterday for a black Daytona C until I saw the market in the red 600 points today. Who else feels like the market moving down is going to cool this craziness?

You do realize the market was literally at all time highs Thursday/Friday right?

This is just a slight downward fluctuation due to tariff talk.

[mulgogy]

5 months ago the market was down almost 5000 points compared to today... no effect then, no effect now.

[VacherObsessive]

If the economy in the USA goes bad they’ll all be shipped off to Asia and sold for the same premium so no the price won’t be affected by the few left In the USA

[jrs146]

Originally Posted by YGRLX

I would never want a market downturn just to buy a watch.... in fact, I would give all of my watches away to avoid one. I was just saying that being at the peak of the market makes everyone want to spend, and a pull back definitely takes it away.

I get what you’re saying. Expand a days movement to a year and now you will see the watch market start to cool. Expand it to a true bear market and it quite sure the gray market gets cut in half.


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[dtwer]

Originally Posted by YGRLX

I was considering paying 21500usd yesterday for a black Daytona C until I saw the market in the red 600 points today. Who else feels like the market moving down is going to cool this craziness?

Please don't do that to your money. It's just a piece of jewelry, don't throw silly money at it.

[reddog4063]

If the markets go down a lot you are better off deploying that cash into the markets, i am waiting for some discounts myself!

[Old Geezer]

When trade concerns lessen, the rally will continue.

[pkincy]

Well here is a true story to add some perspective to this story.

I had a rather stellar business year in 1999/2000. So outside of my normal investing contributions to pensions and real estate I had a bit of extra money to invest. So I bought about $250k of hot tech stocks and bought a couple of Corvettes. One new and one Vintage. By 2002 it was abundantly clear that my very best investment had been the vintage Corvette and my second best investment had been my new early delivery 2001 Z06. The stocks not so much. In fact my CPA gave me the good news: "The good news is you have enough tax loss carryforward to last you the rest of your life, son."

Today, I am older and wiser, but I must say buying that Daytona by selling stock tomorrow could be the best possible move you could make.

[ImSorryBut...]

OP trying to manipulate the market ;)

[YGRLX]

Originally Posted by pkincy

Well here is a true story to add some perspective to this story.

I had a rather stellar business year in 1999/2000. So outside of my normal investing contributions to pensions and real estate I had a bit of extra money to invest. So I bought about $250k of hot tech stocks and bought a couple of Corvettes. One new and one Vintage. By 2002 it was abundantly clear that my very best investment had been the vintage Corvette and my second best investment had been my new early delivery 2001 Z06. The stocks not so much. In fact my CPA gave me the good news: "The good news is you have enough tax loss carryforward to last you the rest of your life, son."

Today, I am older and wiser, but I must say buying that Daytona by selling stock tomorrow could be the best possible move you could make.

I think you are on to something!

[2001jesper]

A one day crash won't change a thing; Needs to be a prolonged period creating uncertainty about the economic outlook. Prefer the stocks to go upwards instead

[TimingIsEverything]

Originally Posted by t65tampa

No, I don't think any market vacillations are going to significantly affect the secondary watch market.

I would never pay $21.5K for a $12.4K watch.

Agreed. There are stainless Daytonas listed for $24K. Insanity at its peak. A full precious metal piece is only 4-5K more than the stainless. Yikes!

[Yobber76]

Somehow I will get one at MSRP, or I won't get one

[VacherObsessive]

I don’t think the metal SS/PM has had much if any bearing on watch prices at all for a long time. All the most expensive vintage pateks sold at auction (incl some limited new ones) have been SS. A used 1990s Patek SS nautilus is selling for the same price as a 1990s solid gold Patek perpetual calendar chronograph, (both £60k). That’s one of the most complicated watches that is made even today compared against a basic date function SS

[THC]

The market in Hong Kong or anywhere else, does not care about our Dow Jones.. DayCs will be above 21k for many years to come I think

[Jg422]

What? No.


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[returntorolex]

Originally Posted by ImSorryBut...

OP trying to manipulate the market ;)

Blue Horseshoe loves black-dial Daytona.

[JePro]

Originally Posted by PatronMTL

Wishful thinking...until the market goes up 500 points tomorrow

Honestly i would much prefer avoiding a market crash and continue not being able to get a watch then to hope for a crash which will ruin many lives.... 2008 was not fun for anyone

Absolutely !!

[JePro]

Originally Posted by Carry The Interest

Agreed. If we had a repeat event like that my first thought would not be calling up ADs to see if all the hard-to-get models were now available. Damage control on the portfolio would certainly come first and be a bigger priority.

+1

[chlgpm]

I think if the white dial Daytona is priced at 40K, it will still sell. There is simply no rationality when comes to hot Rolex models. Buyers will come regardless of price.