Sold one of my PAMs

[Bob tomas]

I recently sold one of my excellent condition 2 year old PAMs to a high end used watch shop. I shopped around a bit but was generally told that the maximum they pay for Panerai is 50% off MRSP (some were even lower - I took the 50% of current MRSP). I realize that you can get more selling privately, but this is not always possible (there are so many watches for sale).

Is this reasonable? I guess 50% off, then re-sold with 50% markup gives ~25% below MRSP. Given that you can often get some discount on brand new PAMs then I guess this is the most you can expect (except for the odd model that is in super high demand).

Not sure what my point is, but even though Panerai "hold their value", you will still usually take a decent hit when selling .

[Wristmaster]

Yes.. I think this happen to every brand, not just panerai.. Demand and supply rule is very much applied here..

[Cru Jones]

when shopping around my explorer ii, a quality second-hand shop also quoted me 50% of current MSRP for my two year-old watch. so, nothing to do with panerai, per se.

selling privately will get you quite a bit more, but, that comes with a "price" in terms of hassle and worry over the transaction.

[mfer]

I'll give you 52%!

See, you just need to shop around a bit more!


I wouldn't have sold it to them.

[kilyung]

It seems like selling privately would net about 60% of retail depending on the usual variables and demand. So worst case, you left 10% on the table.

[Bob tomas]

Originally Posted by mfer

I wouldn't have sold it to them.

But I did not wear the watch anymore so why keep it?

I guess appreciation offests this a little. The current MRSP is 32% higher than when I bought new in 2010, so I got 50% of current price which equates to a 22% loss on my original cost. However, if I had bought more recently it would obviously have been a bigger loss.

[Auto16610]

This post is wrong on so many levels where do I begin. First off, when you sell to a retailer, they need to make a profit. So you can't judge how Panerai's hold there value off of the price a retailer gives you. Second, I have never heard anyone say that if you buy a brand new Panerai, say a 104, for $6,000 plus tax, that you could wear it for a year and sell it for $6,000 plus the tax you may have spent. Why would anyone buy your 2 year old used watch for the same price that they could get new? Third, yes if you purchased a SE 249 for $7,000 new, and that watch is limited and in high demand, you could sell it for $12,000 in 5 years from purchase. So, no, Panerais, like a lot of high end goods, do depreciate! Unless you have one of the vintage first addition Panerai's that sell for $30,000, those may still be worth the same in ten years or more. But not a regular addition modern Panerai.

Example: Say a #1 superman that sold for 5 cents in 1950 will go for $50,000 today. But if youy buy a 50cent 2012 superman comic today, it might sell for 5 cents tomarrow.

[p_mcgee]

You may want contact a few of the TRF trusted sellers & see if they have interest in buying them. This is still a relatively low risk transaction.

[Bob tomas]

Originally Posted by Auto16610

This post is wrong on so many levels ...

Not sure your point here.

I think it has been pretty well established in this thread that you can expect a 40-50 hit when selling (even Rolex), which was my point. Even though I did not go there, I routinely read peple claiming they can buy panerai or rolex and" sell it anytime for what they paid". It makes no sense to me, as I experienced, and as I reasoned from my own Maths.

Your post did not say anthing I already did not point out in my post so you are the one "wrong on so many levels" mate.

[LNX]

I bought my PAM new in the grey market. Even if I sold 50% to a pre-owned high end watch shop (there is one two blocks from my work) I still wouldn't make out too bad. I wouldn't do that though. I would have sold to another enthusiast via TRF or another site

Really isn't that bad of an investment considering the enjoyment I will have benefited from when I go to sell....of course just to upgrade to another PAM.

Buy low, sell high.

[Bob tomas]

Originally Posted by LNX

I bought my PAM new in the grey market. Even if I sold 50% to a pre-owned high end watch shop (there is one two blocks from my work) I still wouldn't make out too bad. I wouldn't do that though. I would have sold to another enthusiast via TRF or another site

Ideally you buy used at a reasonable price and look after it and sell privately for a similar price. However, it is not always that easy to sell privately, there are many, many, many watches for sale...just look at the board at Paneristi. There is a huge oversupply of these watches in the used market. If the right buyer happens to be there at the right time then great, otherwise your watch will disappear into the sea of other watches for sale.

Not knocking anything, just saying the perception in, say this thread http://www.rolexforums.com/showthread.php?t=172519, is a bit rose-tinted goggles IMO.

I paid 15% below MRSP for BNIB @ AD, and despite a >30% rise in current MRSP I still could not recoup my initial cost. Maybe I just suck

[LNX]

Originally Posted by Bob tomas

Ideally you buy used at a reasonable price and look after it and sell privately for a similar price. However, it is not always that easy to sell privately, there are many, many, many watches for sale...just look at the board at Paneristi. There is a huge oversupply of these watches in the used market. If the right buyer happens to be there at the right time then great, otherwise your watch will disappear into the sea of other watches for sale.

Not knocking anything, just saying the perception in, say this thread http://www.rolexforums.com/showthread.php?t=172519, is a bit rose-tinted goggles IMO.

I paid 15% below MRSP for BNIB @ AD, and despite a >30% rise in current MRSP I still could not recoup my initial cost. Maybe I just suck

I hear you. I haven't really looked at the used PAM market in a while but I bought my 177 bnib at 70% msrp. If a high end watch shop will buy for 50% I'm sure I can be patient and sell for 65% or trade up with some cash. Guess I just got mine pretty cheap