PAM 111 sighted.... please advise

[scimps]

can you tell me : is it a good buy?

its 2003 model, so 11 years old, but just been serviced a couple of months ago.... theyre asking £3750 (GBP)

which is money i dont have - so theyve said they would allow my rolex 114060 as straight trade... (i paid £4250 for it BNIB and wore it for a year)

should/could i look around more/ bater more - or go for it ??


ps - that still leaves me a rolex in my hand - so now ill have a PAM and a rolex to swap between, rather than two very similar rolex

[wisguy]

It's a great watch, not sure about the price...

Certainly not a straight trade for a 114060, I would think it should be the 111 plus cash for you.

[B. Doggy]

Look on the for sale forum here and you will quickly have a decent vantage point on where the market is for that piece. Good luck!

[melons]

I'd never trade a 114060 for a Panerai 111, if you do the dealer got the better deal by far.

[Jay Tee]

What is your other watch? I also would not trade your Sub for a 111.

[scimps]

Sure thing guys....

I won't be doing that deal. Thanks

[Cru Jones]

Originally Posted by scimps

Sure thing guys....

I won't be doing that deal. Thanks

there's something to be said for the convenience of trading with a dealer, which does end up costing you some money, but, that particular deal was a bit too one-sided.

[scimps]

Yes... I think dealer has too much emphasis on the service done last month making watch "good as new"

PS. How much is a service?

[kilyung]

Bad idea imo

[subtona]

Pam 111 is a very nice choice & is a good seller from a dealer perspective, but the 114060 is valued a bit higher (also a good seller) however if your trading with a dealer, he is going to work for profit so the trade is not out of line in that circumstance.


And as Cru says,
Having the deal done in a simple trade also has value imho, you dont have to deal with trying to sell independently & you can enjoy your new watch straight away.

Ps sounds like Pam is a painted dial 111 & just serviced (documented?)...thats a nice watch & desirable…. but you should get some money back.

[RUpanerai]

Rolex is worth more than the 111. If it were new it would be a straight trade.

[Steel28]

I have sold my 111 N series for $4000 CAN. Run away from that deal, way too much asking price.

good luck

[Fleetlord]

Ummm...this is one of the worst deals I have seen proposed in a long time...

Pam111's are total dogs at this point. US Selling prices are around $4000.00 to $4500.00 TOPS....The age of the one in your deal would put it at a $4k max with box papers and 95% condition.

The Rolex is worth at least $6k....

So, a straight trade would rip you off for $2,000.00

If you paid cash, you'd overpay by thousands..

Also, NEVER trade a ROLEX into a Panerai under any circumstances. NEVER

Thank goodness you came here and asked us first....That was a terrible, terrible offer..

[scimps]

Originally Posted by Fleetlord

Thank goodness you came here and asked us first....That was a terrible, terrible offer..

indeed

i was most hesitant to say the least.... my interest and knowledge on trading watches, their relative resale and values - is limited to only a few brands and models....

but i am learning still - fortunately : not the HARD WAY -


thanks all

[Cru Jones]

Originally Posted by Steel28

I have sold my 111 N series for $4000 CAN. Run away from that deal, way too much asking price.

good luck

Wow... The buyer got a good deal.....

Originally Posted by Fleetlord

Ummm...this is one of the worst deals I have seen proposed in a long time...

Pam111's are total dogs at this point. US Selling prices are around $4000.00 to $4500.00 TOPS....The age of the one in your deal would put it at a $4k max with box papers and 95% condition.

The Rolex is worth at least $6k....

So, a straight trade would rip you off for $2,000.00

If you paid cash, you'd overpay by thousands..

Also, NEVER trade a ROLEX into a Panerai under any circumstances. NEVER


Thank goodness you came here and asked us first....That was a terrible, terrible offer..

???

Your numbers are way, way off....just a quick look at Chrono24 will show you prices are in the 5s, with the rare mid-4s. In the OP's case, a freshly serviced painted dial 111 will easily be in the mid-5s at least.

You also have to take into account doing a trade with a dealer, which will always cost you.

That all being said, no, it didn't seem like a fair trade, but, not outrageous, either.

[Fleetlord]

Originally Posted by Cru Jones

Wow... The buyer got a good deal.....






???

Your numbers are way, way off....just a quick look at Chrono24 will show you prices are in the 5s, with the rare mid-4s. In the OP's case, a freshly serviced painted dial 111 will easily be in the mid-5s at least.

You also have to take into account doing a trade with a dealer, which will always cost you.

That all being said, no, it didn't seem like a fair trade, but, not outrageous, either.

Nah...

3750 GBP = $6300 WAYYY overpriced

The prices on Chronos24 are wishful thinking ASK prices...What have those watches sold for? Not those prices..

The watch the op was looking at is a $4500 piece TOPS...and that's given it's a painted dial...etc..otherwise...$4k and not a lot of interest..

If you think a Pam111 is worth those prices, be my guest....but the op did the best deal he could by avoiding the watch that was offered to him...and certainly avoided catastrophe by not trading a quality ROLEX Sub into a Panerai...

[Cru Jones]

Originally Posted by Fleetlord

Nah...

3750 GBP = $6300 WAYYY overpriced

The prices on Chronos24 are wishful thinking ASK prices...What have those watches sold for? Not those prices..

The watch the op was looking at is a $4500 piece TOPS...and that's given it's a painted dial...etc..otherwise...$4k and not a lot of interest..

If you think a Pam111 is worth those prices, be my guest....but the op did the best deal he could by avoiding the watch that was offered to him...and certainly avoided catastrophe by not trading a quality ROLEX Sub into a Panerai...

[Fleetlord]

Originally Posted by Cru Jones

Sorry bro'.... Panerai 111 is a total softy right now...just reality..

Try selling one and let me know if you get over $5,000 like you think it's worth..

Maybe 4yrs ago, but that model/ brand has seen better days in terms of resale...


The good news is that the OP didn't know, came here for some insight...and avoided getting hosed out of a quality ROLEX Sub....That's a good day.

[DreambreaX]

stick to rolex.

[kilyung]

Originally Posted by DreambreaX

stick to rolex.

It's good to branch out a bit.

[gyrfalcon01]

Owned several over the past twelve years, including a 111 which I really liked....but I would never do that deal. If you can, hang on to that sub and save for the pam. If you can't do that for some reason, and you're dead set on having a 111 sooner than later, sell the sub on your own first or at least find a better trade. I've been where you are, and I suggest you pass, but whatever you ultimately decide, don't look back and just enjoy.

[scimps]

Just so you know... I did not complete the deal

And do i really appreciate the advice from you guys

I'm just looking to sell sub first

This forum is a wealth of support and advice