Crazy Prices

[SWISSAHOLICS]

As long as there are people out there who are willing to pay heavy premiums for these SS sport watches, the madness will continue.

[alpine24]

Originally Posted by Becca1

Whatabout the sd43?


Sent from my iPhone using Tapatalk

got mine MSRP plus tax

[aaamax]

Originally Posted by The Libertine

With the current prices, even more reason to be grateful for the Rolex watches you own.

I know I certainly am.

I'm with ya!

[xspect]

Originally Posted by dmash

And the smart collectors with no emotional attachment are selling their pieces at a profit, and will replace them in the next couple years at reduced prices.

I'm so tempted to sell my kermit that I paid a little over $5k for.

[dmash]

Originally Posted by xspect

I'm so tempted to sell my kermit that I paid a little over $5k for.

Exactly, and that doesn't in any way make you a 'bad' collector.

There are people who perhaps had a set budget for their watch collection, say $15k and bought 3, 5 digit Rolex models at MSRP. They might be able to sell said models for $30k now. They can now own a $30k timepiece for essentially $15k.

As stated before, it's not dumb......if you always wanted to upgrade and didn't have the cash....here's your ticket. Saying it's a seller's market right now is a GROSS understatement.

[The Libertine]

Originally Posted by aaamax

I'm with ya!

[BillA]

It is called the principle of supply and demand.

[Boaters]

I do feel lucky to have the pieces that i own. What you asked what is driving the markets the same thing that drives most markets supply and demand. If we quit paying these exorbitant prices to the grays it will come down sooner or later.

[MinMay]

Prices are not crazy. It’s still under 20k. Cheap.

[Rode]

Best reply ever

Originally Posted by asiparks

August 28th 2020. Around 2:30.

It's probably to do with markets, or money, or production or Illuminati or Instagram...

[Onikage]

Originally Posted by The Libertine

With the current prices, even more reason to be grateful for the Rolex watches you own.

I know I certainly am.

Yep. Lord knows I wouldn't buy them again.

[enjoythemusic]

Enthusiasts wear them :)

HODL

[AK797]

Saw a grey priced TT CHNR for £14.7K I think it was today, not worth that cash at all, nice at retail though, then had the opposite at an AD who asked if I would sell my RG Nautilus, almost felt like he was offering, but I told him I'd have nothing else I'd rather buy with the profits so no point. He said I passed the flipper test and then asked if I'd like my name put down for anything and I said no, you don't get my number that easy, love.

[daemonix]

my question might be a bit more stupid :S
How do people make money with flipping SubC or SD43 when for example in the, UK final grey prices (chrono24 certified or watchfinder) are around 12000-11000 (the top end) minus 20%VAT... and watchfinder has to make profit too?!?

[bayerische]

I'm kinda out of the watch-game. I've had enough of the price madness.

I mean there's a TON of PP Nautilus on chrono at crazy prices. None seem to be selling, but the prices are astronomical... Why?

Anyhoooo. These are watches. Not Oxygen.

I've been looking at lesser known brands lately. Lot's of cool stuff out there at reasonable prices.

[bayerische]

I also think that suddenly "every Joe" wanted to make a profit on watches.

[Justinmg]

More money then Brains

[Zakalwe]

Originally Posted by daemonix

my question might be a bit more stupid :S
How do people make money with flipping SubC or SD43 when for example in the, UK final grey prices (chrono24 certified or watchfinder) are around 12000-11000 (the top end) minus 20%VAT... and watchfinder has to make profit too?!?

Not a stupid question. Hopefully this isn’t a stupid answer, I’m not an expert.

A VAT-registered business that is reselling goods notionally pays VAT on the purchase of the good (input VAT) as well as on the sale of the good (output VAT). The VAT actually paid to HMRC is the difference between the input and output VAT.

So for example a scalper buys a BLNR from an AD for £6600. The AD foolishly fails to remove the stickers and withhold the warranty card and the scalper sells the watch to Watchfinder the next day for £7.5k. The input VAT is therefore £1.5k. WF immediately list the BNIB watch for £9.5k and some poor sap/rich bugger ponies up the full amount. The output VAT is £1.9k. Therefore WF owes the taxman £1.9k - £1.5k = £400, meaning if we ignore the various business costs they incur, WF have made a profit of £1.6k and the scalper made £900. Everybody’s a winner expect the poor buggers who just want a BLNR at retail.

Now I just made the figures up to illustrate the point, I’ve no idea how much flippers are flipping for, but you get the idea.

[SilverFoxUK]

Originally Posted by AK797

Saw a grey priced TT CHNR for £14.7K I think it was today, not worth that cash at all, nice at retail though, then had the opposite at an AD who asked if I would sell my RG Nautilus, almost felt like he was offering, but I told him I'd have nothing else I'd rather buy with the profits so no point. He said I passed the flipper test and then asked if I'd like my name put down for anything and I said no, you don't get my number that easy, love.

Picking up on your point about the ‘flipper test’... how long do people typically have to keep a watch before you are considered a ‘flipper’ if you sell it? Surely PP or Rolex don’t have an issue if a person sells a watch after a few (e.g. ~5?) years of ownership? And if you were selling it to buy another watch of their brand, would you still risk being labelled a flipper?

[Thuilln]

Originally Posted by racer24

right on! I brought 2 hulks from local AD last year, one in Feb with 6% discount, one in June with no discount. after that, the madness came in.

And why did you buy two hulk in 4 months? Maybe you're part of the problem.

[mray6375]

Originally Posted by HL65

Actually smart collectors are not selling their watches because they actually bought them to wear and enjoy and paid retail from an AD.

Exactly right

[HogwldFLTR]

Originally Posted by HL65

Actually smart collectors are not selling their watches because they actually bought them to wear and enjoy and paid retail from an AD.

Actually some of us even bought slightly used watches and paid less than retail through grays. Those were the days (queue Archie and Edith).

[psv]

Originally Posted by HL65

Actually smart collectors are not selling their watches because they actually bought them to wear and enjoy and paid retail from an AD.

Amen

[Submaster]

The increase in prices by all the brands mentioned is caused by a decrease in supply so demand was clearly not strong enough to keep pieces from being heavily discounted and most others available at retail. Even the 116520 which once sold at a premium was hit hard when supplies became more plentiful as many will remember. If value retention is a concern than one should question how long the current supply shock will last which leads one to also question why it is deemed necessary now and what this may tell us about the future value of these watches. While nothing is certain, I do not see this supply shock as a healthy sign. If the market is growing and strong, no need to intervene.

[TickTockChuck]

Originally Posted by The Libertine

With the current prices, even more reason to be grateful for the Rolex watches you own.

I know I certainly am.

Indeed! I'm certainly appreciating all my current watches even more. I'm okay to just lay low and enjoy what I already have. I'm on a wait list for a SS Pepsi, but that could be years, but that's okay too. Sometimes a person has to resist the urges of consumerism and quick gratification to have a happy life. So sit back and wait for this crazy market to pass as it will eventually. Cheers!

[MTdweller]

World economy is great, consumer confidence is high. Plus, lots of people with access to credit.

[Rondineli]

Originally Posted by Lee66

When will this madness end? The crazy prices being asked for the Batman, Hulk, James Cameron and the new ceramic Daytona are just depressing. What's driving the demand?

Have you seen the indicators of the US economy of late?

If you have some $$$ and invested in AMZN, FB, NFLX this year do you know how much are people up?

[Quamby]

But there is something serious wrong when even a TT Daytona 116503 is nowhere to be found in display cases at Hongkong AD's.

I got mine at discount before.

[No SUBctitute]

Originally Posted by Kigan

It would be worse if these models were not in demand and their prices only fell.

You are advocating for HIGHER prices.

You are saying it would be a worse situation if prices fell? Well, it would NOT be worse for those who just want to buy and wear and not sell.

[No SUBctitute]

Originally Posted by tyler1980

If they start going for a discount then demand will fall off tremendously.

I don't know that we have any evidence that these watches are Veblen goods. Why would you think that demand increased only because the price went up?