Grey Prices dropping definitely

[Madman37]

Watchfinder UK has a Rolex sale

[HogwldFLTR]

Originally Posted by Madman37

Watchfinder UK has a Rolex sale

[Madman37]

This is the watchfinder email says

ROLEX SALE
For a limited time only, we’re reducing the price of a generous selection of our Rolex collection giving you the chance to take away an exceptional Rolex timepiece at a reduced cost.

Over a century of dedication and skill has led Rolex to become one of the most formidable brands in the watchmaking industry, and since 1905 has become synonymous with luxury horology. In 2019, Rolex ranked 78th in the Forbes world’s most powerful brands.

[ancientmariner]

They added 20 GMTII yesterday mainly 116710LN & 116710BLNR so now have 60 GMTII for sale in total. Typical offering is normally about 30.

[stash21]

can't get on their website at the moment,

but generally WF is massively overpriced even relative to the rest of the grey market. However prices are definitely dropping, just need the grey buy price to drop to a level that doesn't incentivise flippers to buy at MSRP. Then the prices will drop very rapidly and probability of acquiring a SS piece from an AD will increase massively.

I am looking forward to be able to buy a discretionary item from a shop without all the games and BS like I am doing the shop a favour by buying their merchandise.

[Madman37]

Everyone’s investment is going down ha ha. Imagine if this means I can walk into a shop and just buy one soon that would be amazing.

[grimps]

Originally Posted by Madman37

Watchfinder UK has a Rolex sale

Any Daytonas half price ?

[Rushne]

I knew there would be a thread as soon as I saw the email :D

Website isn't working for me either

[steeevvvooo]

Originally Posted by Rushne

I knew there would be a thread as soon as I saw the email :D

Website isn't working for me either

Too many people trying to get on to buy?

Sent from my Pixel 3 using Tapatalk

[stash21]

I suspect too many people trying to get on to look and realise that a "sale" in this context means only 2x MSRP rather than 2.5x.

[stash21]

Originally Posted by Madman37

Everyone’s investment is going down ha ha. Imagine if this means I can walk into a shop and just buy one soon that would be amazing.

yes "investors" are going to get burned.

[Madman37]

You only have a sale on stuff that you can’t sell and want to get rid off.

[steeevvvooo]

First BLNR I came across was £11,875, reduced from £14,950. Still strong pricing but definitely closer to what we see on here in USD terms

Sent from my Pixel 3 using Tapatalk

[Magicmerlin]

hope this is reflected in Hong Kong as im off there soon

[WatchLurv]

This "sale" has been going on in the Hong Kong grey market for some time. Everywhere else is always 2-3 months behind. Totally old news.

[peterpl]

Its the start of the end. Market has been very very weak already for the past 2-3 months. Some of the prices offered from grays are very very much lowball now and ZERO money to be made on most models maybe except the SS Daytona (but thats been like that for 25 years already).

Gonna get worse and now HK is really in trouble if things dont improve there. Its gotten worse and worse now.

This aint no summer holiday slump as some are suggesting in the US. Its a global reduction in demand. Seeing it in Asia, US, UK and across Europe.

Never ever buy into a mass produced commodity and think it will appreciate forever. LOL

[Jackumi]

Watchfinder have big reductions on the price of many hot pieces. Looks like the hyped up grey pricing structure is starting to crack big time!

[GreatCircle]

Wow, is this really happening or “fake watch news” ?
A big correction would be great fun , although the SS models are too boring anyway , so for 75%/list still not interested!

[stash21]

great sale I can now buy a £9k Daytona for only £23k instead of £25k

where do I sign up,.

[DBlue2018]

£11875 for a batman
So other grey dealers with less presence will have to ask less
That means traders will be paying loads less for them now

It seems Watchfinder are wanting to dump sea dweller deep seas and Batman’s and normal subs

They aren’t discounting steel skydwellers, pepsis, yachtmaster, Oysterflex Daytona or solid gold sports pieces

That tends to show where the market is

Ok they’re discounting a few white stainless Daytona’s but that’s a token £1k discount

I think the batman is the one that’s falling - £4K off asking price and there are a chunk of them

[georgekart]

Originally Posted by steeevvvooo

First BLNR I came across was £11,875, reduced from £14,950. Still strong pricing but definitely closer to what we see on here in USD terms

Sent from my Pixel 3 using Tapatalk

You gotta remember US prices don't include taxes. In USA sticker price of 15k is 15k+tax. In Europe if you see 15k on sticker it's 15k.

[steeevvvooo]

Originally Posted by georgekart

You gotta remember US prices don't include taxes. In USA sticker price of 15k is 15k+tax. In Europe if you see 15k on sticker it's 15k.

For authorised dealers yes. Doesn't seem to be the case for grey sellers though listed in the classifieds here.

Sent from my Pixel 3 using Tapatalk

[georgekart]

Originally Posted by steeevvvooo

For authorised dealers yes. Doesn't seem to be the case for grey sellers though listed in the classifieds here.

Sent from my Pixel 3 using Tapatalk

As far as I know before some time this year when shipped out of state it was a responsibility of the recipient to pay taxes, so many people knowingly or unknowingly didn't do it. But if they followed the letter if the law, they would have to. Nowadays AFAIK, the tax is paid when item is sold, so greys will also add tax on unless you're in tax free place.

[AK797]

WF are opening in HK so they will be very aware of the situation there and if it doesn't improve soon then they will react accordingly, and if things improve there prices will adjust back up have no doubt.

[peterpl]

Originally Posted by georgekart

As far as I know before some time this year when shipped out of state it was a responsibility of the recipient to pay taxes, so many people knowingly or unknowingly didn't do it. But if they followed the letter if the law, they would have to. Nowadays AFAIK, the tax is paid when item is sold, so greys will also add tax on unless you're in tax free place.

There is no tax when you buy from grays. Never has been for me in over 10 years.

This is not about tax or anything - UK prices have always been inflated and grays taking advantage of that. Times will be tough in the coming months if these pieces dont move after the price reductions.

Problem now is once word spreads its like wildfire and everyone stops buying even the true WIS because they think if they wait a few more months prices will continue to drop and its just cascades on from there until a new equilibrium is found.

[WatchLurv]

You guys just havent read into my replies. I've been the first on here to disprove and tell you guys that this isn't because Dow dropped 5 points or because of X reasons you can come up with.

Prices on the grey market are reflected first in Hong Kong. The rest of the world follows. Since Hong Kong has been experiencing a turmoil of no Chinese money coming in, the prices are no longer getting "fried" (as they would say it), since there is no money to fry with. There is no other explanations. Take it from someone who knows first hand and don't just come up with a (plausible) theory.

[kans86]

I just came back from a trip in Asia including Japan. Grey dealers have loads of stock that move slowly. Could have taken a white ceramic Daytona for 15% less than 3 months ago.

[peterpl]

Originally Posted by AK797

WF are opening in HK so they will be very aware of the situation there and if it doesn't improve soon then they will react accordingly, and if things improve there prices will adjust back up have no doubt.

Opening now? Or they already have? No point opening in HK now and I dont think that is a good move. The amount of grays in HK is eye watering and their stock is even more eye watering.

They should just stick to the UK and sell Europe and UK imho.

[georgekart]

Originally Posted by peterpl

There is no tax when you buy from grays. Never has been for me in over 10 years.

This is not about tax or anything - UK prices have always been inflated and grays taking advantage of that. Times will be tough in the coming months if these pieces dont move after the price reductions.

Problem now is once word spreads its like wildfire and everyone stops buying even the true WIS because they think if they wait a few more months prices will continue to drop and its just cascades on from there until a new equilibrium is found.

I am not saying the grey prices in UK aren't inflated, they definitely are. Even compared to mainland continental Europe (which does beg the question as to why Brits don't simply buy watches here, it's not like any duties would be due while UK is still part of EU, but that's besides the point), but at least a part of why watches and other things are more expensive here is because they have tax included in them (when watch was imported tax was paid). And are you sure you wouldn't have to pay tax in addition to grey pricing in US? Because I heard that starting this year, you pay tax depending on where the item gets shipped to.

[scurfa]

I’m hearing from a few people I work with that the have received a Batman recently, more and more hot models turning up


Sent from my iPhone using Tapatalk