GMT II meteorite crazy grey price

[77T]

Originally Posted by Alpino

.

I made some davidsw prices comparisons ... sometime (very little) cheaper , sometime (a lot) more expensive than MSRP

Very helpful. I think it’s well done and serves to show context - while a few are astronomical high, half are close to or below MSRP.

I think if people want a deal, buy a Platona - still under MSRP everywhere.


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[dtwer]

Originally Posted by Lt Virgil Hilts

I wonder how the market would go if Rolex doubled their asking prices on the hot watches?

Surely they must be wondering how they can grab some of the grey loot sloshing around.

I realise they (Geneva) don't look as if they need the dough, but it must be galling for them to see the blatant, uncontrolled profiteering on their hard earned reputation.
Shouldn't Rolex be thinking, "people want to pay silly money for our product, so let them pay US the silly money?"
.....or would it just drive prices even further into the stratosphere?

I am willing to bet a premium brand giant like Rolex cares far more about long term sustainability than windfall profits.

If I were flipping watches for a living, my strategy would be exactly the same as these greys: extract as much short-term windfall profits as possible while the going gets good. As to how the brand fares in the long term? Not my problem. Should the day come that Rolex is no longer profitable to flip, I would just go flip something else that's hot.

[SMD]

Originally Posted by Rodrigo082

Come on, are you been serious? Comparing a Patek with Rolex?
Rolex is mass produced- Paket is not

Not to mention there is no SS Patek that lists at 28 and goes for 90. I assume he is referencing the 5711 and the numbers are off by quite a bit.

[SMD]

Originally Posted by VacherObsessive

I don’t get your point. The Patek is more than 3x MSRP, whereas the Rolex is only sitting at 2.1x MSRP; that’s my point. Not the quality of the movement...

Source please. Show me a 28K Patek going for 90K.

[101031-28]

Good for those who feel it is worth their money to pay these crazy prices. As far as I am concerned, I cannot justify it. Stopped playing the game in 2017. I love Rolex but this is going too far for my taste.

[Abdullah71601]

Originally Posted by Syed117

Are we really going to create a new thread every time a seller lists a price for a new watch?

Only when it's $7K over retail on a PM watch that would normally sell at a discount.

And the SS BLNR at $15K over retail is crazy.

[YGRLX]

Yikes

[drmizzou]

Originally Posted by Tampashooter

I love reading all the whining about watches you have no intention of owning, at any price.. If you only knew how much the grays paid for hot items like this...lol

Conversely, where was the outrage when you could save thousands off of retail 3 years ago?

Crickets..........................................

Different times man. Whatever multiple factors have led up to this point of madness that you cant even be placed on a list for the ubiquitous SS sub thats now selling for $2K + msrp without being forced to buy jewelry or a PM piece.

The times you're talking about, you could go and walk into any AD and try on and choose from mostly whatever you wanted; so yes, im upset too that i cant get what i would like without paying ridiculous money for it! Also, many people here are new enthusiasts and werent around for the "good ol' days" or were and werent financially able to play.

[Boaters]

Originally Posted by Mystro

At this price point I would have to be done with buying a new Rolex. I love the brand but don’t value them as much as the free market does. I am from the generation of walking in any AD and buying a SS Sub for $3k in the 1990’s. My CHNR may be my last “new” Rolex.

You and me both ... Touche

[Triple Crown]

Did anyone notice that the date window on this reference is framed? Are there any other references with framed date windows?

[The Libertine]

Originally Posted by Bshaf

This is sad. I respect David tremendously but come on now! 23k for the blnr?!


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Totally agree.

I often get emails (most likely automated) from his DavidSW advising: “We want to buy your watch!” Maybe I’ll write back and quote him twice, or three times the current value.

[enjoythemusic]

Originally Posted by brandrea

Not horrible considering it lists for $38500.

That's $42,000 including FL tax @ 7% from worthless local AD who will put you on a forever waiting list .Thus $45k is a mere 3k over msrp.

Questions?

Imagine the price in NYC with city/state tax, and so DavidSW price is a GREAT deal... whiners!

DavidSW FTW

[RJRJRJ]

Originally Posted by The Libertine

Totally agree.

I often get emails (most likely automated) from his DavidSW advising: “We want to buy your watch!” Maybe I’ll write back and quote him twice, or three times the current value.

And then he'll either buy or won't buy your watch, and somebody will or will not buy his/your watch.

[Rrpdc]

Originally Posted by 365DAS

How much was it listed for?


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45k

[Tavli3]

The current situation has caused a lot of debate on whether we are in a bubble or if Rolex watches are an investment. There are a lot of moving parts that go into the equation of both before you can say one way or the other.
I don’t think we can say we’re in a bubble but I will say there’s a lot of “Irrational Exuberance” going on created by numerous factors. First let’s give Rolex credit for playing this market like a Stradivarius! They have created uber desirable watches that the public craves. They have created a Value Perception by keeping production steady and aided price wise by the Greys. Combine Desirability with Value perception and you get explosive demand. It’s a rare feeling when you can put on a watch or any other item that instantly makes both your heart and your wallet very happy. It’s a very unique position to be in as a consumer company. Rolex has created the perfect storm whereas you’re buying Beauty, Engineering, Prestige and Value all at the same time.
Look at Omega and other brands and you see the exact opposite. There is a lack of desirability, lack of Value Perception and a lack of Prestige which all equates to being able to buy any watch at any moment at a significant discount. Swatch couldn’t care less it seems since at the end of the day all the watches they make get sold one way or another and are off their books and the money in their bank.
As far as the investment debate, I look at it this way. I don’t buy a modern day watch as an investment BUT if said watch I buy on Monday is now double what I paid on Tuesday I have to as a rational person look at it from a money point of view which makes the watch an investment item(to me) by default. I buy a vintage piece as investment and to enjoy. I say investment because I expect vintage pieces to increase in value as they have for the past couple of decades. They may or may not return the same rate of increase as before but that’s why the Prospectus says “Past results do not guarantee future performance”. So I don’t buy anything I don’t love looking at and wearing.
Getting back to Bubble theory. I classify a bubble when all assets in a class increase beyond what makes sense. IE: Tech stocks, they all went into the stratosphere during the bubble, IE: Housing, all housing went crazy no matter how crappy the property/house was. Both Bubbles. We now see crazy prices in certain Rolex models, also in PP models such as Nautulis to name just one. When you start seeing TT, DJ, PMs and otherwise undesirable vintage pieces that have been languishing price wise all of a sudden going for crazy money and above List price, you can bet we’re in a bubble. One sign that I see we are approaching bubbleville is that auction prices have for Rolex and PP been seeing Hammer prices way above estimates and even gray market prices. This will creep into the general market which will inflate prices even more. Irrational Exuberance, Yes on our way to a bubble, Yes. If you have the cash to buy at these prices and you couldn’t care less that the 50K you just spent on a watch is now worth 25K then you can buy with reckless abandon but if that watch is going to turn your stomach sour it’s best to sit on the sidelines unless you can get an AD to sell to you at list.

[dhknola]

Well said Tavli3. I think the bubble is still blowing up, but a bubble none the less.

[fjack88]

Originally Posted by Tavli3

The current situation has caused a lot of debate on whether we are in a bubble or if Rolex watches are an investment. There are a lot of moving parts that go into the equation of both before you can say one way or the other.
I don’t think we can say we’re in a bubble but I will say there’s a lot of “Irrational Exuberance” going on created by numerous factors. First let’s give Rolex credit for playing this market like a Stradivarius! They have created uber desirable watches that the public craves. They have created a Value Perception by keeping production steady and aided price wise by the Greys. Combine Desirability with Value perception and you get explosive demand. It’s a rare feeling when you can put on a watch or any other item that instantly makes both your heart and your wallet very happy. It’s a very unique position to be in as a consumer company. Rolex has created the perfect storm whereas you’re buying Beauty, Engineering, Prestige and Value all at the same time.
Look at Omega and other brands and you see the exact opposite. There is a lack of desirability, lack of Value Perception and a lack of Prestige which all equates to being able to buy any watch at any moment at a significant discount. Swatch couldn’t care less it seems since at the end of the day all the watches they make get sold one way or another and are off their books and the money in their bank.
As far as the investment debate, I look at it this way. I don’t buy a modern day watch as an investment BUT if said watch I buy on Monday is now double what I paid on Tuesday I have to as a rational person look at it from a money point of view which makes the watch an investment item(to me) by default. I buy a vintage piece as investment and to enjoy. I say investment because I expect vintage pieces to increase in value as they have for the past couple of decades. They may or may not return the same rate of increase as before but that’s why the Prospectus says “Past results do not guarantee future performance”. So I don’t buy anything I don’t love looking at and wearing.
Getting back to Bubble theory. I classify a bubble when all assets in a class increase beyond what makes sense. IE: Tech stocks, they all went into the stratosphere during the bubble, IE: Housing, all housing went crazy no matter how crappy the property/house was. Both Bubbles. We now see crazy prices in certain Rolex models, also in PP models such as Nautulis to name just one. When you start seeing TT, DJ, PMs and otherwise undesirable vintage pieces that have been languishing price wise all of a sudden going for crazy money and above List price, you can bet we’re in a bubble. One sign that I see we are approaching bubbleville is that auction prices have for Rolex and PP been seeing Hammer prices way above estimates and even gray market prices. This will creep into the general market which will inflate prices even more. Irrational Exuberance, Yes on our way to a bubble, Yes. If you have the cash to buy at these prices and you couldn’t care less that the 50K you just spent on a watch is now worth 25K then you can buy with reckless abandon but if that watch is going to turn your stomach sour it’s best to sit on the sidelines unless you can get an AD to sell to you at list.

Very well said!


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[Jacentito]

I agree with Tavli3. It is not just Rolex, take this forum and replace Rolex with Porsche, Beretta, Alden, French Grand Cru, Goyard, Louboutin etc...the commoditization of luxury goods and hoarding mentality has permeated the global psyche.

I buy luxury goods for the quality of materials and craftsmanship, the enjoyment of ownership or consumption. I invest in equities/securities and education/licenses for the returns they can provide. I don't mix the two.

[77T]

Originally Posted by Triple Crown

Did anyone notice that the date window on this reference is framed? Are there any other references with framed date windows?

Ive noticed the Day Dates have framing around the date window on Rolex.com


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[cdubg21]

I think people also know they have a safety net, for now, and can buy a Rolex knowing if SHTF they can unload it for at least what they paid if not more, within days. I think this helps more people take the plunge and enter the market, which means more demand, same supply, price goes up, cycle continues.

Originally Posted by Tavli3

The current situation has caused a lot of debate on whether we are in a bubble or if Rolex watches are an investment. There are a lot of moving parts that go into the equation of both before you can say one way or the other.
I don’t think we can say we’re in a bubble but I will say there’s a lot of “Irrational Exuberance” going on created by numerous factors. First let’s give Rolex credit for playing this market like a Stradivarius! They have created uber desirable watches that the public craves. They have created a Value Perception by keeping production steady and aided price wise by the Greys. Combine Desirability with Value perception and you get explosive demand. It’s a rare feeling when you can put on a watch or any other item that instantly makes both your heart and your wallet very happy. It’s a very unique position to be in as a consumer company. Rolex has created the perfect storm whereas you’re buying Beauty, Engineering, Prestige and Value all at the same time.
Look at Omega and other brands and you see the exact opposite. There is a lack of desirability, lack of Value Perception and a lack of Prestige which all equates to being able to buy any watch at any moment at a significant discount. Swatch couldn’t care less it seems since at the end of the day all the watches they make get sold one way or another and are off their books and the money in their bank.
As far as the investment debate, I look at it this way. I don’t buy a modern day watch as an investment BUT if said watch I buy on Monday is now double what I paid on Tuesday I have to as a rational person look at it from a money point of view which makes the watch an investment item(to me) by default. I buy a vintage piece as investment and to enjoy. I say investment because I expect vintage pieces to increase in value as they have for the past couple of decades. They may or may not return the same rate of increase as before but that’s why the Prospectus says “Past results do not guarantee future performance”. So I don’t buy anything I don’t love looking at and wearing.
Getting back to Bubble theory. I classify a bubble when all assets in a class increase beyond what makes sense. IE: Tech stocks, they all went into the stratosphere during the bubble, IE: Housing, all housing went crazy no matter how crappy the property/house was. Both Bubbles. We now see crazy prices in certain Rolex models, also in PP models such as Nautulis to name just one. When you start seeing TT, DJ, PMs and otherwise undesirable vintage pieces that have been languishing price wise all of a sudden going for crazy money and above List price, you can bet we’re in a bubble. One sign that I see we are approaching bubbleville is that auction prices have for Rolex and PP been seeing Hammer prices way above estimates and even gray market prices. This will creep into the general market which will inflate prices even more. Irrational Exuberance, Yes on our way to a bubble, Yes. If you have the cash to buy at these prices and you couldn’t care less that the 50K you just spent on a watch is now worth 25K then you can buy with reckless abandon but if that watch is going to turn your stomach sour it’s best to sit on the sidelines unless you can get an AD to sell to you at list.

[G.D.BeanCounter]

Originally Posted by Mystro

At this price point I would have to be done with buying a new Rolex. I love the brand but don’t value them as much as the free market does. I am from the generation of walking in any AD and buying a SS Sub for $3k in the 1990’s. My CHNR may be my last “new” Rolex.

Add me to the list. I recently bought my first non-Rolex watch in 10 years and 12 different models. An Omega Planet Ocean, no less. I never would have thought....

[bruinmd]

Originally Posted by Chiboy

This is ridiculous, but the same thing happened with the BLRO. Gray price was more than double MSRP, but didn't last long. I do wonder why people would pay the extra $5k - $10 over the gray price a few months down the line. We all know that virtually NO ONE notices your watch, so the desire to pay up big time to be first on your block with a slightly different BLNR seems kinda crazy.

That said, Trusted Sellers are getting more and more like ticket brokers every day.

BLRO grey price is still close to double, if I'm not mistaken.

[hbombkid]

Originally Posted by quakeroatmeal

I'm sure this means everyone else online will follow suit the moment they get one too.

This makes me wonder, do they all sit around and discuss pricing?

Like when the black ceramic GMT was discontinued and they ALL removed stock and then posted them at all around the same price.

Shady. This honestly really mars my perception of certain "Amazing Honorable Wonderful Stand Up Trusted Sellers" without mentioning names.

Shady lol what are you smoking haha

It’s called business. People are willing to pay and people are in business to make money. Good for him if he can make a profit. I am no flipper but sold a couple and was happy not to lose money and break even. If someone told me I could make 7-10k profit on a watch sign me up it would never even hit my wrist. There are plenty of other watches I would be happy with.

[oldman2005]

For those who can afford to pay 200% of MSRP, more power to them.

I'm just glad I'm not desperate enough for another SS sport. Beside that there are so many other nice watches to get not just Rolex!

[Bozack90]

AD removed plastics except for that one on the clasp....looks nice, I totally would want a PM model so I can just get those little markings under the lugs :)