8 April 2019, 01:20 PM | #1 |
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Why are people obsessing over getting the hard to obtain models?
Outside of extremely rare rare watches the price of used watches have shown to decrease in value (yup even the pepsi gmt).
The wait is ridiculous, you have to spend at an AD, buying in the secondary market (grey) is at a premium. If this was art and you had to do this to a dealer (invest in the gallery, show up to gallery openings. prove you are not a flipper, etc) I would understand since the painting is unique and most likely to increase in value for hard to attain paintings. I personally bought a painting for 30k and if I sold in the secondary market (auction) it would fetch 200k net in less than a year. The wait for this artists piece is insane. People are on a long wait list. But the ROLEX market is on the same level so just curious as to why. But why ROLEX? Do people here think about this? The amount of time it takes? I get because we enjoy as a hobby but some here look at it as investment. |
8 April 2019, 01:24 PM | #2 |
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It's human nature... the fact that people can't obtain those specific pieces makes them want it even more. It's crazy how many threads a day we have on the same 3 topics!
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8 April 2019, 01:25 PM | #3 |
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People who can afford Rolexes want what they want.
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8 April 2019, 01:26 PM | #4 |
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Yes but the value of used watches do not go up minus the super rare rare models. The SS SUBS, GMT's etc if used will not be valuable 10, 20, 30 years from now. That is why I am curious as to why there is such an obsession?
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8 April 2019, 01:26 PM | #5 |
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Getting your hands on a SS sports model can be likened to being pre-allocated shares in a hot IPO of past.
Alternatively, you are buying off such a holder post IPO and paying a premium. This was the case in the past, but many stocks which IPO'd within the last 12-24 months are well below their IPO prices. Luckily the people that were pre-allocated were able to offload some when the bell opened. |
8 April 2019, 01:27 PM | #6 |
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I'd buy a 20/30k piece of art and see it appreciate 10x fold. Point being the effort and time you put into attaining a ROLEX (SS) you can do the same and get 10x better results in a different market such as art.
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8 April 2019, 01:30 PM | #7 |
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Human’s nature to acquire exclusivity regardless of its price.
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8 April 2019, 01:30 PM | #8 | |
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Quote:
If you are comparing to buying a new SS sport model at an AD you cannot wear it or else it will not fetch the premium compared to new. |
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8 April 2019, 01:30 PM | #9 |
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My angle is...People like the pieces FIRST and the DEMAND for them makes them hard to get. Personally, some of my favorite Rolex's would be DaytonaC's, BLNR's, LVc, and a classic SS Submariner LN...I also like a blue dial Sky-Dweller - Hmm, looks like I just named off some of the most desirable pieces...
Point is, whether these were dime a dozen or impossible to procure, I would still like them. The design and colors of them are just more appealing than the rest of the options for me. I guess that's the case for a lot of people as DaytonaC's, BLRO's etc. are nearing the impossible side of the scale (At retail, from an AD). |
8 April 2019, 01:34 PM | #10 |
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Rolex's tactic is to cement the brand image to the younger generation, a generation that is already over spending on luxury goods. Plus over the last 5 years the new money class has grown in certain Asian countries with an emerging middle class.
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8 April 2019, 01:37 PM | #11 |
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I don't think that's the case for everyone. I saved enough to get a Sub as I always wanted one then when I went to my local AD, I was told about the waitlist. I had no idea there was a shortage. Then I came to TRF and realized the sad truth.
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8 April 2019, 01:40 PM | #12 |
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I say 70% are flippers :) . if Rolex decline in price every year, then I bet most people wouldn't be buying them and we would get 25% discount at AD :)
This applies to all collectible hobbies...same as statues. I collect statues too..bought a statue for $400 and sold it for $3500 last year :) |
8 April 2019, 01:52 PM | #13 | |
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Now that these people are in, actual consumers lose interest as all the holders control who gets what, which is driven by demand from resellers and then consumers. Because of the layers involved, the markup at the consumer end it extremely high. I pity anyone who cannot resist temptation by purchasing at such asking prices and prolonging the death spiral the market is in. I would say the market looks like an inverted triangle with those who can lock in supply holding most (60), resellers/ speculators (20) and end consumers (20). For this reason, the death spiral will be prolonged as the holdings allows the market to be manipulated. |
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8 April 2019, 02:22 PM | #14 | |
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Not sure why you keep saying it will lose value if you wear it. If I buy a BLRO at MSRP of $9,250 I could wear it for a month and sell it for at least $14k. At this point in time any SS sub, GMT, Explorer II or Daytona will take zero depreciation hit to MSRP assuming you don’t mangle it. Sent from my iPhone using Tapatalk |
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8 April 2019, 02:22 PM | #15 |
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isnt nearly every stainless sports model now a bit more difficult to get? they are popular, its always that folks want that which is more popular.
I hope things work out where people who want sports watches can get them with a few exceptions like it used to be, but who know what will happen with demand being what it is. |
8 April 2019, 03:15 PM | #16 | |
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That’s actually a really good analogy. There certainly is a huge FOMO factor running through buyers. And it is this same fear that’s leading to plenty of speculation. Indeed there are a fairly large number (by proportion) of buyers who really are interested in nothing more than flipping their buys at a profit as quickly as they can. Just like an IPO participant trying to be the first to key in their sell order when trading begins. It seems particularly prevalent in this part of the world. It is unlikely demand can run this hot forever, but I am also doubtful the ‘good old days’ of there being enough to go round in ADs will ever return in the absence of meaningful supply increases. What is happening now is abnormal, but when normalcy returns, it is unlikely to be the old normal. Sent from my iPhone using Tapatalk |
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8 April 2019, 03:22 PM | #17 | |
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2) You like buying art. Sometimes other people prefer buying watches. I don't understand how you can keep mentioning art and not get how some people feel about watches. If you understand how someone can like art enough to spend time and energy pursuing it, how can you not understand how someone could like watches enough to spend time and energy pursuing them? |
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8 April 2019, 03:25 PM | #18 |
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8 April 2019, 03:32 PM | #19 | |
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8 April 2019, 03:42 PM | #20 | |
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Why are people obsessing over getting the hard to obtain models?
Quote:
I am not art expert, however I don't understand why you say used steel rolex depreciate heavily? If you look at vintage references of steel subs, Daytonas, GMTs etc they actually appreciated heavily compared to their msrp |
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8 April 2019, 03:42 PM | #21 | |
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Every one buys there watches for different reasons. At the end of the day it's our money and our business. And usually by nature hard to find items increase in value over time. Not always but most of the time they do. Sent from my SM-T830 using Tapatalk |
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8 April 2019, 03:45 PM | #22 |
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8 April 2019, 03:49 PM | #23 |
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Have you ever tried to pickup a beautiful woman with a painting strapped to your wrist?
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8 April 2019, 04:12 PM | #24 |
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I guess this is concept of scarcity. It doesn’t apply just to watches. It applies to car, houses, clothes, collectibles and even food etc :) the limited food will always seems to many as imore desirable and tasty, even though the food stall which opens 24/7 with no queue could in fact taste better for you.
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8 April 2019, 04:49 PM | #25 |
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Hypebeast on all levels. Cars, watches, sneakers, clothing, fancy restaurants, handbags, (shall I keep going?).
Same story. Different toy. Nothing new here. |
8 April 2019, 05:13 PM | #26 |
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Because the "Hard to attain"models are just about every decent looking model that is affordable in the eyes of the middle to upper middle class. I've walked into 1000 sqft stores with completely empty cases and only 4 PM pieces that are 40K+ each. Many people may have put off a purchase or were not in the market two years ago, and now that they are, they can not attain anything. It is not just hype and not just about wanting what you cant have, because unless you are in the good graces of an AD you get nothing but old man watches or watches that are 4X the price of what you are in the market for.
It is not like we are walking into stores full of watches and looking for a white dial daytona only. |
8 April 2019, 05:24 PM | #27 | |
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8 April 2019, 05:29 PM | #28 | |
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Herd mentality, fear of missing out and investor wannabes join forces :) Sent from my iPhone using Tapatalk |
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8 April 2019, 05:30 PM | #29 |
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Meanwhile, there’s another’s active thread on TRF where people are claiming that Submariners are literally “everywhere” and “everyone” has one.
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8 April 2019, 06:19 PM | #30 | |
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What does an art dealer care whether you are a flipper or not? Most likely he does not and what he does care about is instant cash and investment in the gallery. |
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