Insanity! Where does it stop?

[BillA]

Price of a SS Daytona ranges between $38K to $42K, grey dealers, for a watch with an msrp of $13,150.

Where does it end? Is this insanity? Do people have this kind of money to burn? I just don’t get it.

End rant.

[Cdaddylutz]

It stops when people realize their throwing their money away.

Silly rabbits.

[WalterW]

It will never stop because the rich only get richer. Gotta park your millions somewhere right, why not watches

[Seddyspaghetti]

Originally Posted by BillA

Do people have this kind of money to burn? I just don’t get it.

End rant.

What’s there not to get? There are people out there that have the money to buy these things.

Not sure why people love to pocket watch. If someone wants to spend their $38k on a Daytona then that’s their business.

Playing AD games and spending more than $38k on stuff you initially didn’t want when you have the money to buy a Daytona now can be seen as insanity.

[Calatrava r]

It seems to be working just fine at the moment for the parties involved. Rolex could increase Daytona production at anytime which would drop the used market values.

[mfnj]

Here's how it could stop (but it will never happen). Rolex severs relationships with all AD's and only sells through Rolex owned Boutiques and online. Only way you can purchase a watch is through Rolex which means no more watches for the greys! Demand might still exceed supply but then it might be a level playing field unless Rolex wants to play the games AD's are currently playing with VIP's and the "back room" stuff. As I said, will never happen!

[Fleetlord]

No problem whatsoever for more people than one would expect.

[VegasBaby]

Another one of these threads .....we get it.........you can't get the SS model you want at an AD..............move on...............whining and complaining on TRF won't help.

[Oxfordian]

Originally Posted by BillA

Price of a SS Daytona ranges between $38K to $42K, grey dealers, for a watch with an msrp of $13,150.

Where does it end? Is this insanity? Do people have this kind of money to burn? I just don’t get it.

End rant.

The reason why the prices are what they are is because people buy at that price.

If no one bought the watch at this price then the price would fall.

Hope this helps.

[GMT Aviator]

Insanity?

More like stupidity!

[1William]

I do like the saying, "It is what it is", I know it is a cliché but so appropriate when trying to figure out pricing and buying habits.

[joli160]

For many this is small change

[franktehtank]

Notice how crypto is up again? Follow the money! People are willing to buy watches directly with crypto gains to avoid paying capital gains taxes. When you're up several multiples of your original investment, and stand to lose a large portion to the tax man, those prices don't seem so crazy.

I personally think a large portion of the Rolex hype/flippable brands market is driven by this type of tax evasion.

[IAN1]

PP 5711 is a $35K watch selling for $140. Everyone accepts that as "normal". Is that insanity?

[absoluteczech]

Originally Posted by IAN1

Is that insanity?

Yes

[swish77]

Originally Posted by Cdaddylutz

It stops when people realize their throwing their money away.

Silly rabbits.

Yeah, people said the same thing when Daytonas were selling for only double retail not too long ago. Those same people can now re-sell their Daytonas and make $10K. How is that insane or stupid?

And that's just from an investment standpoint. How about watch lovers who have the money and just want a Daytona to wear and enjoy? Not sure they're stupid either.

[ks58]

Just wait until it gets discontinued. Then that 38k will look like a bargain basement price deal!

[sathwik]

Retail prices don’t mean anything in todays market. It’s more like a reference price and not a maximum retail price. The price you pay is in premium with reference to the retail price that’s it. But things will change in the future, but not anytime soon unless there is a historic market crash or recession. Nothing is permanent.

[sathwik]

Originally Posted by ks58

Just wait until it gets discontinued. Then that 38k will look like a bargain basement price deal!

Which would be when?

[absoluteczech]

Originally Posted by swish77

Yeah, people said the same thing when Daytonas were selling for only double retail not too long ago. Those same people can now re-sell their Daytonas and make $10K. How is that insane or stupid?

Ask someone that bought a house in 2007/8 the same question. It goes up until it doesn't.

[DJ2020]

Originally Posted by sathwik

Which would be when?

I would have know idea.... But hopeful!

[brandrea]

Originally Posted by BillA

Price of a SS Daytona ranges between $38K to $42K, grey dealers, for a watch with an msrp of $13,150.

Where does it end? Is this insanity? Do people have this kind of money to burn? I just don’t get it.

End rant.

I agree with you Bill but …..

Originally Posted by 1William

I do like the saying, "It is what it is", I know it is a cliché but so appropriate when trying to figure out pricing and buying habits.

[Chester01]

Well if one is to look at the ever growing number of grays and the apparent plenty of Daytona's out there....um, well the gray market folk buying and selling them like stock is one answer and the speculators. One may balk at buying a 13k watch at 42k, but with stocks all nonsense is on the table. I mean, look at Game stop. Never underestimate the power of hype.

[Pw92676]

Mods: seriously can a sub forum be made for threads like this. It’s becoming cumbersome to find five of these then finally a thread with pics and watch info.

Nothing wrong with this speculation/investment talk, but that’s not what TRF what it is. It’s a disservice to this fine forum to morph into <insert another less-fun forum name here>.

[TheVTCGuy]

Originally Posted by Pw92676

Mods: seriously can a sub forum be made for threads like this. It’s becoming cumbersome to find five of these then finally a thread with pics and watch info.

Nothing wrong with this speculation/investment talk, but that’s not what TRF what it is. It’s a disservice to this fine forum to morph into <insert another less-fun forum name here>.

That might be a good idea

Oh, and to answer the OPs question: 16 November 2021 04:32:43 US Pacific Standard Time

[AK797]

Originally Posted by WalterW

It will never stop because the rich only get richer. Gotta park your millions somewhere right, why not watches

Elon Musk's wealth alone is now at $230 billion, in light of this absurdity nothing seems that crazy any more. I've never had end of the world vibes before but if it were to happen soon I don't think I'd be that surprised or bothered any more.

[stockae92]

the prices only make sense for the flippers and grey dealers. and i bet some of them are "left hand selling to the right hand" to drive up prices.

how many rappers, pro ballers or bitcoiners out there actually buying Daytona at that price and wear them?

for me, I wasn't interested in the Daytona back then, I am not interested in them now. :)

[Longhorn]

Hype - the satisfaction of getting it because the average enthusiast cannot. Why are people paying thousands for cheaply made Nikes/Jordans? There's a community that's accepted the cultural value and clout of Rolex watches. You're competing against a broader demographic including the financial irresponsible that will stretch their budgets or go into debt to get a watch, competing against people trying to flip to make a quick buck, etc.

[Majin Buu]

It will stop, when customers buy what they really need, a tool watch !
Not a colorfool watch just to show off a fashion statement

Life after fifty becomes uncertain ... how many good years will you have ?
Health Vs Wealth ... I rather spend wisely ...

Just my opinion (as a medical doctor)

J.

[samuel019]

Originally Posted by Oxfordian

The reason why the prices are what they are is because people buy at that price.

If no one bought the watch at this price then the price would fall.

Hope this helps.

Originally Posted by IAN1

PP 5711 is a $35K watch selling for $140. Everyone accepts that as "normal". Is that insanity?

Exactly and Exactly

Always thought it was odd/funny/crazy that the 116500 gets all the attention on insane pricing when the 5711 used to be a slow mover with decent discounts at least here on TRF, yes you can look it up in the classified section, but now its all that and a bag of chips

At least with the Daytona discounts were small at best waaaaaaaay back when. But I guess you can find faults with both.

As to when it ends?? Probably Never ever ever ever ever. I dont see the watch craze ending anytime soon nor do I see the masses going broke anytime soon. Some yes, masses no. Just sayin