Lots of high demand sports watches not being bought

[WatchesNBlondes]

They’ll get bought. That’s why they buy them to begin with. Always a celebrity or deep pocket out there willing to splurge.

[Bxtek]

The problem was never that there was a shortage of these SS sports models. So many available of just about every reference you want! If they're sitting, the price will definitely be the main reason why.

[CarlOver]

Originally Posted by eugenetsang

Authenticity, they are all legit as far as I know. The jeweler that I see them at has a high reputation and wouldn't jeopardize their reputation associated with shady business.

As for the price, it's not much higher then the ones you see on the secondary market...

Same can be said about the stock in Poland. I just find it odd that no one is gobbling up the stock that's not being sold...

So prices are higher than the already overpriced secondary? And you are wondering why they are sitting?

[eugenetsang]

Just wondering why they were still sitting there. I have pics from today where there are plenty of subs, sky dwellers, OPs, and even Patek/AP sitting in the display window. But Tapatalk won'tet me upload pics.

Other members said it's probably overpriced. Or that they don't trust the jewelry store. But all I can say is, the jewlery store is highly credible, with numerous stores in Hong Kong. And recently brought their business over to the US .

As for pricing, I can't say how much they are selling them for. But even if it's listed higher than gray market dealers, there will be someone willing to pay over asking for it... Considering that it's virtually impossible to scoop up any high depend sports models at retail.




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[Hollie_Rollie]

Originally Posted by WatchesNBlondes

They’ll get bought. That’s why they buy them to begin with. Always a celebrity or deep pocket out there willing to splurge.

I think it’s laughable if you think celebrities in particular are paying the market price. You’re making an assumption with that. Allow me to make an assumption (since yours is no more valid than mine) - celebrities and the wealthy can afford to build relationships with and AD. You don’t think they spend 1.2 mil on a diamond ring and don’t get afford the hard to get stuff do you?

I spent 30k on a ring and got afford 2 hot pieces at retail…


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[ganiccus]

Originally Posted by eugenetsang

Just wondering why they were still sitting there. I have pics from today where there are plenty of subs, sky dwellers, OPs, and even Patek/AP sitting in the display window. But Tapatalk won'tet me upload pics.

Other members said it's probably overpriced. Or that they don't trust the jewelry store. But all I can say is, the jewlery store is highly credible, with numerous stores in Hong Kong. And recently brought their business over to the US .

As for pricing, I can't say how much they are selling them for. But even if it's listed higher than gray market dealers, there will be someone willing to pay over asking for it... Considering that it's virtually impossible to scoop up any high depend sports models at retail.




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That store is either too greedy with their margins or they have failed to understand the local market and bought their stock too high so they are stuck at selling at a higher price. Not that uncommon of a situation, especially if the jewellery store is not too experienced at buying watches at the right price.

I saw a video recently from TraxNYC, a very popular jeweller on 47th street, where the owner was mad that one of his employees paid like 5-6k USD too much for a two tone mother of pearl dial Daytona. The guy thought process was probably like: oh, there is gold and nice looking dial, that must be worth a ton! But Roman Sharf was there and he schooled the guy on how much he would have paid for this particular watch based on the demand, it's really easy to get burned at this game if you don't have the knowledge and experience of this market.

[ArtNouveau]

Originally Posted by Hollie_Rollie

I think it’s laughable if you think celebrities in particular are paying the market price. You’re making an assumption with that. Allow me to make an assumption (since yours is no more valid than mine) - celebrities and the wealthy can afford to build relationships with and AD. You don’t think they spend 1.2 mil on a diamond ring and don’t get afford the hard to get stuff do you?

I spent 30k on a ring and got afford 2 hot pieces at retail…


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I think big name celebrities get whatever watch they want just by asking. I’m sure the SoCal AD’s all have famous clients on speed dial. I doubt any of them have to buy grey, in fact I wouldn’t doubt it that RolexUSA might have a “VIP Concierge” or the like who gives out some pieces for the exposure they get.

[eugenetsang]

Just some of the pics from today's stock on display from my jewler

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[eugenetsang]

For arguments sake, I am just got to say this... The jewler from where I took the pictures from, they are credible and has been in business for a long time. My mom has been shopping with them for decades. So there is no reason to assume that they are selling counterfeit goods.

Price wise when it comes to their stock, it's within reason. They may not be th cheapest around. But the prices are fair enough where my mom doesn't mind paying listed price for. Otherwise she would have gone elsewhere.

When it comes to their watches, as they are not ADs, they are classified as gray market dealers. Rolex, AP, and Patek are displayed. Majority of them still have plastic on them. There is no reason to assume they are fake.

With that being said, there are tons of high demand sports model watches available. They even have 2 Nautilus in the display window. Even if they are overpriced, I am sure someone with deep pockets would not hesitate in gobbling some of the watches up.

Especially when there are two highly sought after Pateks on display. Wasn't the nautilus one of the most desired watch? Where ppl were paying $200k+ for on the gray market?

Anyway. Just trying to pick your brains. I finally figured out how to post pics. And the pics posted were intended to be attached from my original post.

[SS Oyster]

Price is #1 driver ... there are no "deals" to be had anymore. Back in 2014 or so, you could buy a Hulk for $7k, but today it's $25k. Even current watches are commanding upwards of 2-3 times retail on the secondary market, so to me that's the biggest issue with these places. The people who benefit from going in there are Gray dealers looking to buy volume at wholesale prices to turn around and resell them at retail prices through their networks and online presence. The shop with hundreds of watches in the windows IMO don't stand a chance of getting retail prices. People expect a "deal" when they see so many.

I recently was in NYC, so walked through the diamond district and stopped in to many of these shops, only to be driven out by prices that would make your eyes water.

[eugenetsang]

I don't expect anyone walking to this specific jewler to be paying "retail". But I do expect jewelers such as this one to be moving stock. Maybe not as break neck speeds. But I do expect someone with deep pockets willing to buy the watches that are shown.

For example as mentioned above, there are highly sought after Nautilus 5712 and 5800 available... Despite the markup, if they were listed on Davidsw, those watches would be gone in a blink of an eye....

But to your point about being driven out because of the prices... Sure, for us regular Joe's/Janes. We probably won't be willing to burn crazy markups... But there has to be someone that will... But those two prized watches are still on display... For over a year now.

[malba2366]

Interest rates are so low right now and capital is basically unlimited so these grey dealers can afford to hold on to inventory with the hopes of getting top dollar. Once rates start increasing and banks start tightening business credit lines then they will have to start taking what they can get.

[donas]

I would speculate pricing keeps them from being sold. I have a very reputable store near me that is not an AD but has at least 12 sports models in stock right now. They are asking very inflated prices and won't budge at all, so their inventory is the same every time I visit.

[Nav01L]

Originally Posted by eugenetsang

Just some of the pics from today's stock on display from my jewler

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What a messy store, doesn’t instill any desire to buy in me…

[Token74]

I haven’t read the whole thread, so apologies. But I’m not sure what this is really all about?? There are Grey dealers all over the place with lots of inventory being advertised at high premiums over retail, this isn’t new or strange??

And yes, they are very happy for inventory to sit there for a long time if need be, assuming they are making large margins on each piece, they don’t need to sell much to pay the bills, and as long as values are increasing, it’s all gravy.


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[telesquire]

I see some really active social media greys with fast turnover of the sort after stuff even at crazy prices. However there's an awful lot of bricks & mortar specialist jewellers who have the same SS sports stock on sale for month after month, I think there is a reasonable percentage of stock on consignment sale here too. People just happy to sit on them.
There's a glut of old Subs and Explorer i for sale at the mo.....endless pieces. Just seen one dealer with 42 Subs in stock all in the 90's to 2010 range.

[tudk]

Maybe they are into something else and the watches are just a front

[1665fan]

I’m sure the prices are all rip offs waiting for a sucker…….I’d be willing to bet that Pepsi is 30k and they are really worth 22-23k……..so they are just there waiting for an idiot/sucker with too much money…….it’s really that simple

[Watcheroo]

Many stores use popular watches as a marketing tool to pull in potential watch buyers. Could be that.


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[Watcheroo]

Originally Posted by eugenetsang

I took a video to show my friend who moved to Poland. He was supposed to go check them out when he came back to visit. So as I was passing by the store, I shot a quick video of the same inventory that the store had from his last visit.

They have hulks, ceramic Panda Daytona, air king... Tiffany blue OP... Strangely enough, the store has a lot of different models.

Seems like more than the ones we saw at the new Rolex/Tudor store in Meatpacking.

I would screenshot the video. But that means I will need to host the pics on another site... I don't want to sign up for it..

You can use Tapatalk. Easy to upload pics.


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[eugenetsang]

Originally Posted by Watcheroo

Many stores use popular watches as a marketing tool to pull in potential watch buyers. Could be that.


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That could just be that... Lure in shoppers into the store. But all watches are display items? But it just baffles my mind that the watches are just sitting there. Bc my logic is this, when iphones, Supreme, Air Jordans, or any super high demand products drop... People camp out overnight to purchase these items at retail price.

But others aren't so lucky... But they are willing to pay 1000% markup, just to own whatever that may be. For example, the sneaker industry... People are willing to pay ridiculous money, just to say they "have it and you don't".

Grant it, yes the prices that these buyers pay pales in comparison to what's going on in the luxury watch industry. But one can say, "there will be a sucker that's willing to pay" $2000+ for a pair of sneakers that originally retails for $140. And will not have any issues with it.

Couldn't that be the same as in the watch game? The demographic in this category are more financially viable.
Yes, you can say majority are also financially smarter, where they are not willing to pay X percentage over blah. But you can also say, there are also others where they do not care about price. But willing to pay whatever was advertised, just to have something that it's virtually unattainable...

That's just my thoughts.

[eugenetsang]

Yup, I DL'd Tapatalk. Took me some time to figure out how it works. At first error message keeps popping up. But the app is fine now!

[arnage]

I happened to go by that store around a month ago; the 5712 was listed at around $128k when I inquired, iirc.. and inside, a white-dialed 116500 was marked as "sold" at $38k.

So while the prices are fairly typical / in-line with grey, I don't know if the store itself is an ideal indicator of how quickly inventory gets moved.. 1) the location is not one where people tend to buy "expensive" watches or jewelry <for NYC>; 2) the store seems to mainly focus on jewelry inside (gold, jade, diamonds, etc). so the watch thing is perhaps ancillary, rather than their main focus. i.e. the main shoppers aren't going in with the intention of buying a watch.

[CarlOver]

Unless you are tracking serial numbers how do you know they are not turning over their stock? A current sub looks like a current sub. Previous gen looks like another previous gen Sub. Seems unlikely that a dealer would stock watches and try to get top dollar for years and still try to get top dollar and not sell anything. Either stock is very overpriced, or they are not great business owners or both. Or they are turning over stock and you just don’t know it. Many gray dealers are chock full of stock. Would we say the same about many US gray dealers that have lots of inventory?

[fskywalker]

Originally Posted by ArtNouveau

The prices at the reseller dealers are outrageous, that’s why they sit there. Someone must be paying reseller prices but not me.
I only buy/have watches I wear, if I can’t get it from my AD I don’t get it.