Prices not dropping?

[Moondoggy]

Originally Posted by underpar

Does be anyone actually read anything this long? And who writes this??

More then a sentence I am out, if it has big words I am out.

[HL65]

Why does it matter if prices are dropping? Does that take away from your joy of ownership? If your house price falls are you going to stop enjoying living there? When your car price drops are you going to stop enjoying driving it? At the end of the day watches are not investments they are discretionary purchases. If your life is impacted by your watches going down you clearly have too much money in those watches and should never have purchased them to begin with. Clearly the secondary watch market got way overheated with prices that made no sense. Much like meme stocks, crypto and spacs excesses needed to be taken out or the market repriced. Not much more to it to me than that. Prices get out of whack they correct and that works both ways to the up and down. Prices were and still are out of whack. One thing though that still remains is desirable Rolex models are hard to get from AD’s. Call your AD and ask for a Sub, GMT or Daytona and you will get the same response today as you got a year ago. So at the end of the day buy what you love and can afford. Then enjoy it and remember you didn’t buy it to make money, you bought it to read time. You bought it because you love the timeless design and classic look. Hopefully we move from money back to enthusiasm for the top brands in time.

[David001]

Originally Posted by HL65

Why does it matter if prices are dropping? Does that take away from your joy of ownership? If your house price falls are you going to stop enjoying living there? When your car price drops are you going to stop enjoying driving it? At the end of the day watches are not investments they are discretionary purchases. If your life is impacted by your watches going down you clearly have too much money in those watches and should never have purchased them to begin with.

I totally agree and I said this to someone soon after joining, at which point I was flamed for having the audacity to suggest that some people were buying watches that they couldn't really afford.

If some people believe that the value of their watch will only ever increase then they'll overextend themselves. I think most do actually like the watches, but they probably wouldn't have bought them if they thought they would lose money.

The people in this position are the ones getting emotional now.

[David001]

Originally Posted by GW44

I hope that this (also lengthy) reply goes some way towards answering your questions and fleshing out my views, experience and reasons for posting David.

With respect you haven't pointed out any differences in the US and UK watch buying market.

I was going to type a massive long post discussing fiscal policy, but it's so boring even I got bored with it.

I'm a simple man, I'm not capable of working out what might keep the balloon inflated but let it down at the same time. Ergo I think watches will follow other falling assets, back down to a point that existed prior to the bubble/balloon.

[VegasMilgauss]

I’m looking forward to getting back to searching for bargains second hand and if I like a watch paying a premium for it new.
Normality I guess!

[David001]

Here is a tip from experience, I once bought a car that I wanted really badly, it was expensive and used a lot of my savings but I was pretty sure that it would only ever appreciate in value, so I took the plunge.

From the moment of buying it I started to worry about it's value, I regularly checked the sale listings and kept an eye on prices. It worried me to the point that I stopped enjoying the car and eventually sold it for slightly less than I bought it just to be rid of the worry.

I never made that mistake again.

[mountainjogger]

Originally Posted by HL65

Why does it matter if prices are dropping? Does that take away from your joy of ownership? If your house price falls are you going to stop enjoying living there? When your car price drops are you going to stop enjoying driving it? At the end of the day watches are not investments they are discretionary purchases. If your life is impacted by your watches going down you clearly have too much money in those watches and should never have purchased them to begin with. Clearly the secondary watch market got way overheated with prices that made no sense. Much like meme stocks, crypto and spacs excesses needed to be taken out or the market repriced. Not much more to it to me than that. Prices get out of whack they correct and that works both ways to the up and down. Prices were and still are out of whack. One thing though that still remains is desirable Rolex models are hard to get from AD’s. Call your AD and ask for a Sub, GMT or Daytona and you will get the same response today as you got a year ago. So at the end of the day buy what you love and can afford. Then enjoy it and remember you didn’t buy it to make money, you bought it to read time. You bought it because you love the timeless design and classic look. Hopefully we move from money back to enthusiasm for the top brands in time.

Spot on. But IMOP you forgot the most important point. If I ever spent more on a watch than I could afford to completely loose, my spouse would pack my bags and leave them on the porch.

Currently waiting on the call from an AD. There is a limit to how long I will wait. If I go gray, it will be an amount I can afford to loose in exchange for the joy of wearing it to tell time with a well made time piece.

[ninjin]

Originally Posted by underpar

Does be anyone actually read anything this long? And who writes this??

I wrote this.

I think maybe the ones who read it are those who aren't stressing over their negative equity Rolex?

[Andad]

Originally Posted by HL65

Why does it matter if prices are dropping? Does that take away from your joy of ownership? If your house price falls are you going to stop enjoying living there? When your car price drops are you going to stop enjoying driving it? At the end of the day watches are not investments they are discretionary purchases. If your life is impacted by your watches going down you clearly have too much money in those watches and should never have purchased them to begin with. Clearly the secondary watch market got way overheated with prices that made no sense. Much like meme stocks, crypto and spacs excesses needed to be taken out or the market repriced. Not much more to it to me than that. Prices get out of whack they correct and that works both ways to the up and down. Prices were and still are out of whack. One thing though that still remains is desirable Rolex models are hard to get from AD’s. Call your AD and ask for a Sub, GMT or Daytona and you will get the same response today as you got a year ago. So at the end of the day buy what you love and can afford. Then enjoy it and remember you didn’t buy it to make money, you bought it to read time. You bought it because you love the timeless design and classic look. Hopefully we move from money back to enthusiasm for the top brands in time.

Best post on this thread Ken.

[travisb]

Originally Posted by HL65

Why does it matter if prices are dropping? Does that take away from your joy of ownership? If your house price falls are you going to stop enjoying living there? When your car price drops are you going to stop enjoying driving it? At the end of the day watches are not investments they are discretionary purchases. If your life is impacted by your watches going down you clearly have too much money in those watches and should never have purchased them to begin with. Clearly the secondary watch market got way overheated with prices that made no sense. Much like meme stocks, crypto and spacs excesses needed to be taken out or the market repriced. Not much more to it to me than that. Prices get out of whack they correct and that works both ways to the up and down. Prices were and still are out of whack. One thing though that still remains is desirable Rolex models are hard to get from AD’s. Call your AD and ask for a Sub, GMT or Daytona and you will get the same response today as you got a year ago. So at the end of the day buy what you love and can afford. Then enjoy it and remember you didn’t buy it to make money, you bought it to read time. You bought it because you love the timeless design and classic look. Hopefully we move from money back to enthusiasm for the top brands in time.

Amen brother! Thank you!!

[mailman]

Originally Posted by HL65

Why does it matter if prices are dropping? Does that take away from your joy of ownership? If your house price falls are you going to stop enjoying living there? When your car price drops are you going to stop enjoying driving it? At the end of the day watches are not investments they are discretionary purchases. If your life is impacted by your watches going down you clearly have too much money in those watches and should never have purchased them to begin with. Clearly the secondary watch market got way overheated with prices that made no sense. Much like meme stocks, crypto and spacs excesses needed to be taken out or the market repriced. Not much more to it to me than that. Prices get out of whack they correct and that works both ways to the up and down. Prices were and still are out of whack. One thing though that still remains is desirable Rolex models are hard to get from AD’s. Call your AD and ask for a Sub, GMT or Daytona and you will get the same response today as you got a year ago. So at the end of the day buy what you love and can afford. Then enjoy it and remember you didn’t buy it to make money, you bought it to read time. You bought it because you love the timeless design and classic look. Hopefully we move from money back to enthusiasm for the top brands in time.

Spot on brother

[GB-man]

But Ken my FA advised I buy the dip and dollar cost average my watches by buying two more of each. He said this is sure to compensate for my net worth being tied up in s*** coins and small cap tech.

Here’s my FA for anyone looking to join me in accumulating great wealth.

[1665fan]

Prices are going back up!!!!!!!!

[GoBig]

Originally Posted by Moondoggy

More then a sentence I am out, if it has big words I am out.

Me too!

[GoBig]

Originally Posted by 1665fan

126610lv just sold for 23k on the forum….

Check the forum again, prices in the $20k to $21k range. More than 10% drop from your $23k number.

[amh]

Originally Posted by HL65

Why does it matter if prices are dropping? Does that take away from your joy of ownership? If your house price falls are you going to stop enjoying living there? When your car price drops are you going to stop enjoying driving it? At the end of the day watches are not investments they are discretionary purchases. If your life is impacted by your watches going down you clearly have too much money in those watches and should never have purchased them to begin with. Clearly the secondary watch market got way overheated with prices that made no sense. Much like meme stocks, crypto and spacs excesses needed to be taken out or the market repriced. Not much more to it to me than that. Prices get out of whack they correct and that works both ways to the up and down. Prices were and still are out of whack. One thing though that still remains is desirable Rolex models are hard to get from AD’s. Call your AD and ask for a Sub, GMT or Daytona and you will get the same response today as you got a year ago. So at the end of the day buy what you love and can afford. Then enjoy it and remember you didn’t buy it to make money, you bought it to read time. You bought it because you love the timeless design and classic look. Hopefully we move from money back to enthusiasm for the top brands in time.

Oh it surely 'matters':
- Those who already have a briefcase full of watches don't care and should not care. They can observe the market from afar, they already have their "house" and it's paid off. They're done. (I suspect you're in this category...)
- Newer enthusiasts and aspiring collectors have been anxiously waiting for this moment. I started out buying my wife watches on a regular cadence but limited myself to one. I would have bought more but I've been in a complete drought for the last 5 years - not even a Datejust offered from any AD.
- The bubble has popped. So far it's not a sudden collapse but rather a controlled drawback. Greys have stopped buying and anyone holding on to a 'safe queen' has put their watches up for sale before the value falls back to MSRP. End of the year looks quite possible for return to normal.
- And of course.... all us enthusiasts still abide by your creed: Buy to enjoy. That has never changed. The issue is that it has not be possible to buy at all unless you're in some special category. I have no idea where the magical threshold is - spent $20k on unplanned stuff at my AD, that's my limit. From now on it's Grey only. Screw the ADs!

[1665fan]

Originally Posted by GoBig

Check the forum again, prices in the $20k to $21k range. More than 10% drop from your $23k number.

We’ll one sold for 23k…. Ask the TS…… maybe unknown sellers have them for 20-21

[rolexpatek363]

Originally Posted by David001

No I wasn't, you're making up stories on the internet again.
I'll post a screen shot of exactly what I said below.

The abnormal conditions that inflated watches to a once in 100yr anomaly in pricing are not coming back in our lifetimes, it would take another perfect storm to recreate them.

It's over, your speculative nest egg has gone up in smoke, it happens, you need to accept it with grace and move on.

I can't be bothered to trawl through your posts, most of which appear to be centred around watch values. I remember someone else called you out on it.

Yes, obviously I'm heartbroken & ruined with a >500% profit.

[underpar]

Originally Posted by ninjin

I wrote this.

I think maybe the ones who read it are those who aren't stressing over their negative equity Rolex?

I'm aware of who actually wrote it. I just can't imagine anyone having the time to write a post of that length or the desire to read it.

[Mystro]

Originally Posted by HL65

Why does it matter if prices are dropping? Does that take away from your joy of ownership? If your house price falls are you going to stop enjoying living there? When your car price drops are you going to stop enjoying driving it? At the end of the day watches are not investments they are discretionary purchases. If your life is impacted by your watches going down you clearly have too much money in those watches and should never have purchased them to begin with. Clearly the secondary watch market got way overheated with prices that made no sense. Much like meme stocks, crypto and spacs excesses needed to be taken out or the market repriced. Not much more to it to me than that. Prices get out of whack they correct and that works both ways to the up and down. Prices were and still are out of whack. One thing though that still remains is desirable Rolex models are hard to get from AD’s. Call your AD and ask for a Sub, GMT or Daytona and you will get the same response today as you got a year ago. So at the end of the day buy what you love and can afford. Then enjoy it and remember you didn’t buy it to make money, you bought it to read time. You bought it because you love the timeless design and classic look. Hopefully we move from money back to enthusiasm for the top brands in time.

Amen and please close the thread leaving everyone with this common sense closing remarks. The investment madness threads have been thoroughly discussed as far as they can go. We can’t control YouTube but we can focus TRF back to talking about actual watch ownership discussions.

[rolex16]

Originally Posted by HL65

Why does it matter if prices are dropping? Does that take away from your joy of ownership?

It matters because there is (hopefully) a correlation between secondary prices dropping and availability at the AD, which matters to some enthusiasts like me.

Originally Posted by Mystro

Amen and please close the thread leaving everyone with this common sense closing remarks. The investment madness threads have been thoroughly discussed as far as they can go.

See above. The state of the market is important for many reasons, not the least of which is to give Joe buyer some amount of transparency that we cannot seem to get from Rolex, ADs, or resellers. To me, these are not investment threads, they are availability threads and should remain open lest we have no transparency at all.

[np2016]

Just buy at msrp only and you never have to worry about any price fluctuations especially overpaying. As stated a million times on this forum timepieces are not investments regardless of the brand. You want an investment buy an etf or blue chip stock instead.

[rolex16]

Originally Posted by np2016

Just buy at msrp only and you never have to worry about any price fluctuations especially overpaying. As stated a million times on this forum timepieces are not investments regardless of the brand. You want an investment buy an etf or blue chip stock instead.

Totally agree, except it is very difficult to do so right now. This is why many are unhappy, refuse to go grey, and are watching the situation to see whether what you suggest will be a possibility again anytime soon.

[Anestheticsaregood]

Originally Posted by GB-man

But Ken my FA advised I buy the dip and dollar cost average my watches by buying two more of each. He said this is sure to compensate for my net worth being tied up in s*** coins and small cap tech.

Here’s my FA for anyone looking to join me in accumulating great wealth.

This is gold

[Chiboy]

Originally Posted by HL65

Why does it matter if prices are dropping? Does that take away from your joy of ownership? If your house price falls are you going to stop enjoying living there? When your car price drops are you going to stop enjoying driving it? At the end of the day watches are not investments they are discretionary purchases. If your life is impacted by your watches going down you clearly have too much money in those watches and should never have purchased them to begin with. Clearly the secondary watch market got way overheated with prices that made no sense. Much like meme stocks, crypto and spacs excesses needed to be taken out or the market repriced. Not much more to it to me than that. Prices get out of whack they correct and that works both ways to the up and down. Prices were and still are out of whack. One thing though that still remains is desirable Rolex models are hard to get from AD’s. Call your AD and ask for a Sub, GMT or Daytona and you will get the same response today as you got a year ago. So at the end of the day buy what you love and can afford. Then enjoy it and remember you didn’t buy it to make money, you bought it to read time. You bought it because you love the timeless design and classic look. Hopefully we move from money back to enthusiasm for the top brands in time.

No surprise, words of wisdom.

FWIW, I am a bit relieved prices have declined. I wear my Daytona every single day, and it's "only" insured for about $50k. With all the talk of robbery and "is it safe?" here, I was starting to wonder if I should be more selective about where I enjoy it. I thought it was shocking and was surprised when they were supposedly going for $200k, but thought if they really were, I possibly didn't want to daily something so valuable. Or that maybe I needed to spend $2k/year to insure it for real market value. So now if the value is back down to something more realistic (I really don't know what that number would be), I can just wear and enjoy it like I always have, and not wonder if I should be worrying about it. Because, you know, I bought it to wear and enjoy.

[Calatrava r]

Originally Posted by HL65

Why does it matter if prices are dropping? Does that take away from your joy of ownership? If your house price falls are you going to stop enjoying living there? When your car price drops are you going to stop enjoying driving it? At the end of the day watches are not investments they are discretionary purchases. If your life is impacted by your watches going down you clearly have too much money in those watches and should never have purchased them to begin with. Clearly the secondary watch market got way overheated with prices that made no sense. Much like meme stocks, crypto and spacs excesses needed to be taken out or the market repriced. Not much more to it to me than that. Prices get out of whack they correct and that works both ways to the up and down. Prices were and still are out of whack. One thing though that still remains is desirable Rolex models are hard to get from AD’s. Call your AD and ask for a Sub, GMT or Daytona and you will get the same response today as you got a year ago. So at the end of the day buy what you love and can afford. Then enjoy it and remember you didn’t buy it to make money, you bought it to read time. You bought it because you love the timeless design and classic look. Hopefully we move from money back to enthusiasm for the top brands in time.

Right on. Who should care about the used watch market. Its highly visible but actually a drop in the bucket to total Rolex sales. Believe it or not most new AD purchases are not immediately flipped to the used watch dealers. And now it appears the used watch dealers are full of stock that isn't selling at the crazy high prices. Great as that should overall lessen demand at ADs which benefits us all. In any event, I bought my watches to wear and enjoy, so the used market means nothing to me.

[QuelleHeureEstIl]

Originally Posted by Al1969

Time for the hobby to return to the enthusiasts.

We also have to think about some of the wonderful and passionate employees working at AD.

During my visits I have seen so many nice sellers treated awfully by "new" customers.
I know some have already quit their job.

[2loaded]

Originally Posted by VegasMilgauss

I’m looking forward to getting back to searching for bargains second hand and if I like a watch paying a premium for it new.
Normality I guess!

I agree and I'll beat the dead horse with you.
This indeed is normality and not just with the watch market.

[David001]

Originally Posted by rolexpatek363

I can't be bothered to trawl through your posts, most of which appear to be centred around watch values. I remember someone else called you out on it.

Yes, obviously I'm heartbroken & ruined with a >500% profit.

You're a funny guy, 90% of everything you've posted recently on this forum is whining about watch prices and arguing that they're not going down.

By the way, it's not 500% profit, you'd be lucky to sell it at all now and for the next few years it's only ever going to go down in price.
In your heart you know this is true, that's why you're so triggered.

[rolexpatek363]

Originally Posted by David001

You're a funny guy, 90% of everything you've posted recently on this forum is whining about watch prices and arguing that they're not going down.

By the way, it's not 500% profit, you'd be lucky to sell it at all now and for the next few years it's only ever going to go down in price.
In your heart you know this is true, that's why you're so triggered.

My Nautilus is now virtually unsaleable because certain Rolexes, none of which I own, have recently gone down in value?