Thoughts on 116718 pricing.....

[mjr24]

I've really been going back and forth on what to do the last few weeks.

The 166718 is my grail (I currently have a SS GMT and a Breitling Navitimer GMT). However, the prices just aren't that good right now. Seems almost all of the pre-owned ones are going for $23k-25k and those are all for 2007-2008-2009 models....in other words watches that probably need or are going to need servicing soon.

I can get a new one from a gray dealer for $26,500 or so.....that seems to be the common low point from many grays. So, yeah, buying new is likely the choice there given the pricing. When I went into my search, I figured I'd easily be able to get a 2-3 year old 116718 for like low 20's easy but apparently that isn't reality.

However, my other option is to just get a TT GMT for $10k and was thinking of picking up another Breitling Navitimer Limited Edition I liked for like $6k. In other words, this options saves me $10k and I get 2 watches instead of 1 (the TT which is already 70% of what the 116718 is in terms of gold).

The things pulling me back from paying $26k for a 116718 is the uncertainty as to whether Rolex puts the new movement in the rest of their GMT's this next year (as this would likely drop 116718 prices).....as well as the fact that 116718's were READILY available maybe 2 years ago for $20k-21k for models that were just about new (based this off pricing in the for sale forum from back then).

I know we live for today.....but $26k is a lot of coin to throw down for a model that might be $20k in 6 months depending on what happens at Basel 2019 and with the economy. Maybe I should wait it out?

How much do some of the other PM models drop once a new movement comes out? For instance, the 16718......those still go for like $20k apparently?

Thoughts?

[watchwatcher]

Here's my thought. Forget about the money and focus on getting what you really want.

Yes, it's a lot of money. But it's not nearly as much money as you're going to spend trying to save money.

For me, I would much rather have a 116718 than a TT and a Breitling. Hell, throw in another 6k watch. But that's me.

[wiswrist]

If what you truly want is a 166718, nothing else will scratch the itch.

[joli160]

Nobody can predicts the future but I take the 116718 anytime over any two or three SS models.
Generally the movement fitted is irrelevant in value. You assume prices go down but it might go up being discontinued.

Any luxury jewellery like watches take a hit, few models exempted which is normal and acceptable.

[Wcdhtwn]

I'd be hesitant too with the next release possibly getting the new movement. It's only 5 months, it you really want it then doesn't hurt to wait. You'll either get the new one or decide you don't really care about the new movement and pay less for the current one. A $26,000 spend deserves being patient. Agree that getting something else in lieu won't satisfy and you'll end up flipping what you buy now at a substantial loss to get what you wanted in the first place.

[encarter13]

I will say I am in a similar boat. I have three SS Rolex watches that I really enjoy wearing. They are great and make me happy. I could easily sell 1, 2, or all 3 and go the PM route. However, I really like variety. I know PM is amazing, but I just cannot trade 2-3 watches for 1 watch.

[AK797]

Originally Posted by watchwatcher

Here's my thought. Forget about the money and focus on getting what you really want.

Yes, it's a lot of money. But it's not nearly as much money as you're going to spend trying to save money.

For me, I would much rather have a 116718 than a TT and a Breitling. Hell, throw in another 6k watch. But that's me.

Agree with Larry, at this price point getting your ultimate watch is the priority, yes prices are high now but that is across the board and at least PMs are still buyable for good discounts from greys unlike many SS and TT.

[Bigblu10]

That YG GMT will not plummet in price down to 20K just because the new movement is installed into the new ones from the factory. If you want the watch, just buy it. Shoot off some emails to Tony, DavidSW, Takuya, OCRolexguy and pick who can get you the best price on a BNIB or LNIB piece. Too many here become speculators as to waiting for a watch that doesn't exist yet and missing out on buying their holy grail piece.

[huncho]

100% don't get a TT and breitling as a compromise

if anything just wait til basel to pull the trigger on the 116718, but i would expect prices for one with a new movement to have less of a discount

[envuks]

I did the same as you. Started with a 116710ln, had it for 10 years, and upgraded to "my grail" 116718 earlier this year.

I'd say that good examples can be found in the ~$23-$24k usd range. New at $26k isn't bad either....

Regardless of what you pay, if you ever sell it you'll take a hit of at least a few thousand. BUT it's not about that! But what you love. You only live once.

At the end of the day if you lose $6k over the life of ownership on a watch you love, who cares?

Just my $.02


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[envuks]

I bet you'll end up paying $24.5k for a new version of the 116718 in today's market. I think there was one recently in the classified if I am not mistaken


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[mistercoach32]

Originally Posted by rac10000

If what you truly want is a 166718, nothing else will scratch the itch.

I agree with this wholeheartedly.

[mjr24]

Hmm.....sounds like maybe I should wait it out a little.

I have no issue taking a small hit....which is why I am trying to determine how much current models may drop once a new movement comes in. Like I said, it seems 16713 YG models still go for $20k or so. If I could find a LNIB for $23-24k, I would be all in but they do not exist right now. I am still weary of one that is 10 years old regardless of condition because it basically has to go in for service regardless and that is going to put another $1k-2k onto the price anyways.

[codecow]

TT is not even close. The 718 is a heavy monster just get it.

[Nocomment]

Whatever you do... DoNOT get the TT, you will regret and flip it for a full pm !

[Al1969]

Full PM is the way to go.

[faimag]

I would get a 16718 instead (in fact I have)! Nowadays you can get a mint/near-mint full set for about 20K which is your sweet price point. And you won't lose any money regardless of future Basels...

[Rilz]

Whatever you do don't go with TT you would end up flipping it in no time.