OK this is getting ridiculous

[will_scofield]

For anything near 20k in a Rolex to not be looking at PM is just insane to me

[csaltphoto]

Originally Posted by RyanJ

In this area, it is not uncommon for 21 yr olds to drive lambos... Silicon Valley rains money. I had a co-worker pay almost triple for a Daytona and it wasn't even a months salary for him.

And yes, many want them because they are hard to get. They could care less about the brand. All they know is others want it and they can afford to pay any amount to get it. Once the hype dies down, they will throw it in the drawer with the rest of their unwanted trinkets.

Will some go broke wasting money, sure. However, many already have their paid off homes, no debt, and safe investments.... These are just toys to throw money at for fun.

I think part of it is also what happens when you give 6 figure salaries to recent college grads (and plenty aren't college grads. If you can write bullet-proof code 12 hours a day they will hire you straight out of HS. And plenty of kids can). They still can't buy a house here but they can drive an AMG/Lambo/whatever and buy nice watches. I didn't even know McLaren had dealerships but sure enough, there is one a few blocks from my GF's house in Los Altos. The outside lot is littered with cast-off 911's, maseratis, and other lesser toys...

[bitpshr]

I was given a bootlegged black 16710 during my first job. Even knowing it was fake, I was still so enamored of the look and feel of this particular watch that I found an AD, tried on an 116710LN, and told myself, "I will own this watch one day." Eventually, I bought this model, then a few others, only to sell them during a time of personal hardship shortly thereafter. Since then, I never stopped telling myself that I would once again own my beloved all-black GMT II.

After a few years of hard work and clean living, I decided this week that I was more than ready to repurchase a 116710LN. Candidly, after finding out that this model had been discontinued, the going rate of ~$13500 was far less than I was willing to pay for the now-finite number of open-warranty, BNIB 116710LNs from trusted dealers out there.

Price is relative; many times emotional. I can't speak for other color-ways, but I definitely understand the recent LN price increase since it'll never be restocked, barring a reissue in the distant future.

[watchmework]

Originally Posted by bitpshr

I was given a bootlegged black 16710 during my first job. Even knowing it was fake, I was still so enamored of the look and feel of this particular watch that I found an AD, tried on an 116710LN, and told myself, "I will own this watch one day." Eventually, I bought this model, then a few others, only to sell them during a time of personal hardship shortly thereafter. Since then, I never stopped telling myself that I would once again own my beloved all-black GMT II.

After a few years of hard work and clean living, I decided this week that I was more than ready to repurchase a 116710LN. Candidly, after finding out that this model had been discontinued, the going rate of ~$13500 was far less than I was willing to pay for the now-finite number of open-warranty, BNIB 116710LNs from trusted dealers out there.

Price is relative; many times emotional. I can't speak for other color-ways, but I definitely understand the recent LN price increase since it'll never be restocked, barring a reissue in the distant future.

Congrats on the LN! At the end of the day, you have to do what makes you happy...if you’re going to hold onto it for the rest of your life then what’s a couple extra thousand bucks...enjoy it!

[dtwer]

If we are not buying from them at that asking price, then it is irrelevant to us, even if they ask half a million for it.

[peterpl]

Originally Posted by dtwer

If we are not buying from them at that asking price, then it is irrelevant to us, even if they ask half a million for it.

EXACTLY. Grays can ask whatever. Just dont be a chump paying those prices.

Once any SS Rolex approaches $18k or above its value proposition compared to other models and brands goes downhill quick fast.

[Wcdhtwn]

This does seem to be the going rate for BLNR’s these days, online anyway. But the asking price and the selling price are not always the same thing.

[PeterC4]

Originally Posted by jb335

I don’t believe for a second that 80% of that’s dealerships car sales over $100k are to people ages 18-20. I don’t believe that for a second. Put the absurdity of that many people under 21 being able to spend a $100k on a car but with such a small age range (only 3 years) it is mathematically unfathomable. If he had said people in their 20s I still wouldn’t believe it, but at least it would somewhat pass muster.

I’m not saying I don’t believe he said these words to you, I’m saying I’m calling BS on the person who told you this.

And I live near Beverly Hills so I am not unaccustomed to seeing very young people with stupid amounts of money.


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You don't know Vancouver. On top of it all it has the largest Rolex boutique in North American owned by Asian interests, called GWC. It is common for very wealthy Asians to send their children to school in Vancouver, and Toronto for that matter. They have substantial disposable income. Look up housing prices in Vancouver.

[PeterC4]

Rolex management has created a brand that you can speculate on for profit. Brokers are making a living moving hard to find watches in the market. Rolex has limited production to push buyers into Precious Metal models and have worked on the principle that scarcity is easier to perceive than relative quality. I agree with many members that most well heeled customers don't spend time flipping watches or even pursuing stainless steel models with such zaniness. The stainless steel watches aren't really worth it from a product perspective. But they have a high market value. Rolex has found itself a great sub-culture of consumers that has become addicted to the brand and are compelled to satisfy their craving anyway they can.

[Cdaddylutz]

The prices and demand are going down in price. Just look at all of the “bumps” and “open to offers” lister here.
As someone mentioned earlier in this thread. They will get easier to purchase from dealers.
Just because it is listed for that prices does not mean that is what it is going for. Never pay over MSRP for stainlesss steel people.

[KFP55]

Couple are listed and have sold on the classifieds in the $15k’s. My AD just told me that he expects a large shipment “by September” and I might get one. Maybe it’s finally loosening up?

[Vansin]

Originally Posted by DoctorA

This sums it up!

He said it all.

[superstarmar]

Originally Posted by burnthesehills

I appreciate your opinion, but I’m just calling it like I see it. And yes, I am making assumptions/speculating. Because I’m confused who would shell out this type of money over list for a used watch.

As for my “very wealthy” comment. I guess it just depends on what we consider very wealthy. I have to think that if someone has 20 grand to spend on a used watch, they are probably not falling in the median income bracket. My point was more along the lines of, even if I had the means to buy such a watch, I personally would pass based on principle alone. I have no issue with someone putting down 30 or 40 grand on a PM Rolex. I just can’t connect with the idea of paying this much over list because it’s a hyped up “hot model”.

But I understand where you’re coming from. And I’m sure there are people buying them at this price

If I had $20k to spend, it wouldn’t be on a
$9000 watch that’s preowned marked up
More than double it’s original msrp that’s for sure .
That’s close to PM territory right there .

[Seibei]

Well, look at the bright side. He is offering a "care plan" for a mere $949.99!

[Dougiebaby]

Originally Posted by Wristwatchcheck

Warren Buffett still goes to the same $20 barber since he was a teenage.

Ummmmm, have you seen Warren Buffett’s hair?


BTW, I’m thinking of listing mine for $35,000








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[ArL]

Same situation in here mate, thats why i bought CHNR instead.
Wont follow the hype now, just dont make sense for me.





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