Gold is getting very very hot.

[watchdisplay]

Originally Posted by eanzenberg

That’s $10k retail. If you can’t get it, or don’t want to wait 2 years, that $10k becomes $20k gray. At that price, it starts to make sense to go $25k PM from an AD. AD will always win out on customer experience and trust.

I personally would prefer to buy from reputable grey market and when I say grey market I mean like DavidSW not Joma etc. I’m not quite sure what people like about the customer experience at a Rolex AD. It’s nothing, it’s a new watch. I’d rather it come to my door the next morning.


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[Snake Plissken]

Originally Posted by watchdisplay

I’m not quite sure what people like about the customer experience at a Rolex AD.

The price

[eanzenberg]

Originally Posted by watchdisplay

I personally would prefer to buy from reputable grey market and when I say grey market I mean like DavidSW not Joma etc. I’m not quite sure what people like about the customer experience at a Rolex AD. It’s nothing, it’s a new watch. I’d rather it come to my door the next morning.


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Sure, if you have a reputable grey dealer nearby. How many people are comfortable dropping $20k online on a steel watch sight-unseen, with a 3 day return policy and a 20% restock fee? 2 year weirdo warranty, which you probably won’t even use if you are creeped out by them? Some non-zero chance that if the watch is legit, it is a franken-watch made of other spare parts hobbled together?

When I was shopping for my SkyD, I contacted a few grays and most were shady as F, requesting wiring $3k to some phone number just to reserve the watch. Only thewatchbox felt legit. Conversely, I stopped by my local AD and got the PM SkyD I requested within 2 weeks of asking for it. No shady F. No questions of “is this legit”. 5 year Rolex warranty. Excellent customer service.

Can you imagine dropping $20k, then having to come to this forum, take a bunch of photos and ask “is this a legit watch?” It’s madness. No thank you. I can’t afford losing $20k. I’d rather spend a bit more, for a PM from an AD. If I couldn’t afford the PM, I would wait for an AD to stock the SS I wanted (and be on multiple lists) and be patient. Sorry, I (and most people) can’t spot a fake vs. a real Rolex. I don’t have the experience of owning 10+ SS watches and know what to look for. I don’t know how to spot a franken-watch. I’d rather not pay over MSRP for a SS with a surprise 10 years down the line sent off to RSC only for them to tell me the things wrong with the watch. It’s not worth the risk.

Just my 2c.

[Robf52]

Originally Posted by eanzenberg

That’s $10k retail. If you can’t get it, or don’t want to wait 2 years, that $10k becomes $20k gray. At that price, it starts to make sense to go $25k PM from an AD. AD will always win out on customer experience and trust.

I think that's a good point. As the prices of SS and PM pieces converge, people are less reluctant to stretch for the PM, especially with PM availability. Seems like we're in some paranormal bubble; one wonders where this will all end...probably won't be pretty. Keep some dry powder.

[Polarexplorerii]

Originally Posted by peterpl

I dont think so. Someone in the game at $10k is not in the game for $30-$40k.

When I was a SS guy there is no way I was going to pay for a PM piece. It was way way way beyond my means back then.

Yup, that is me right there!

[madplatter3381]

5 digit gold watches have been under priced, SS over priced. Discrepancy is now converging.

[ronricks]

Originally Posted by madplatter3381

5 digit gold watches have been under priced, SS over priced. Discrepancy is now converging.

Agree with this. The best deal on a gold Rolex from a ‘gold’ perspective right now is the OQ 19018. They are about 160 grams fully linked compared to 138 grams for a 18038 or 18238 and can be had several thousands cheaper.

[Ihatecheese]

Gold has its fans but I think that hype is more just in these small forums since SS became harder to come by. Going by the ADs carrying and the prohibitive prices and fashion norms, for most Rolex buyers. Rolex isn't the watch aimed at the money is no object crew, rather aspirational wealth on the most part so the addressable market for the gold pieces is split between the higher end brands

[Breizh]

It’s funny I made the same observation last weekend.
Went to LA to check out a few AD and Rodeo Drive was packed. There’s not much tourism from overseas right now and I was stunned by the lines at every high end store. Mostly young folks as well.
AP was by appointment only.
Some young guy came in the Rolex AD and was greeted enthusiastically by his first name while the girlfriend was sporting a birkin.
Yeah, there is money on the street alright.

[Tavli3]

"There's money in the streets"
"Where's the money coming from"

PPP
Biggest government boondoggle of all time. Little to no policing against fraud. Yhea they caught a few guys here and there and a few companies gave the money back. But millions got millions of undeserved cash. Go try and buy a new boat, there are none.
40K Gold watches flying off the shelves like sardine cans??

All of a sudden everybody's rich?? It's either the Day trading Robinhooders or PPP.

[Crazy Lugs]

Originally Posted by Tavli3

"There's money in the streets"
"Where's the money coming from"

PPP
Biggest government boondoggle of all time. Little to no policing against fraud. Yhea they caught a few guys here and there and a few companies gave the money back. But millions got millions of undeserved cash. Go try and buy a new boat, there are none.
40K Gold watches flying off the shelves like sardine cans??

All of a sudden everybody's rich?? It's either the Day trading Robinhooders or PPP.

IMHO, there’s some real truth to this based on the stories I’ve read about those who were caught buying lambos, etc. What a shame.

[JSolution]

what's ppp?

[DtownRRS]

Originally Posted by JSolution

what's ppp?

US FED backed bank loans to business for COVID relief to help keep people on the payroll. If used as intended it can be 100% forgiven as a grant. I would think some of that money is not going to
the intended use.

PPP = Payroll Protection Program (Loan money up to 10 million per company based on head count)

[Wahlberg]

It's crazy how people are talked into buying gold because of no SS available or the current gold prices. Feeling the need to extend themselves when they can't/shouldn't. Fear of missing out... It's a watch. Buy luxuries when you can afford them.

Buy what you love, buy what you feel comfortable with. A lot of people are already worried scratching their 5-10k watch.

[bp1000]

It will be interesting to look back on this period in 5-10 years

The difficulty in getting steel watches has see a huge growth in PM purchases at full price. Historically 15-25% was not hard to achieve for a discount on PM.

Tudor also came into the fold and Rolex new releases seem to be starting with PM first more and more.

We all suspected Tudor would step into the affordable steel watch space and Rolex would move upmarket.

I’m sort of seeing this play out as prices keep creeping up and desirable releases start or stay as PM.

With the final thought of how this strategy will play out as the cost of the raw metals rise on the open market. If this is passed on to the customer these could get very expensive very quickly.

[peterpl]

I dont know but I have a bad feeling PM prices are going to surge and explode bigtime. Just what I have heard and seen just last week shopping around for my 116618LB.

It wasn't actually hard to attain the 116618LB as in where I couldn't actually find one but the asking prices were up there to be honest. Thats why it took me a while to get it because these have also risen so much I was a bit shocked because I was eyeing this watch since 2-3 years ago and compared to back then its gone crazy high.

RG SKyDs for $45k. LOL that is pretty much retail. I got mine for $33k BNIB. Thats a HUGE jump.

Now I"m seeing RG DD40s for >$35k huge jump from the $28k I got it for as well not so long ago.

I really really hope this is not the start of the PM FOMO or investment mentality because I've got my eyes on other PM pieces I want. LOL - I wont be able to afford the damn things they are already so expensive..

[GoingPlaces]

Originally Posted by peterpl

I dont know but I have a bad feeling PM prices are going to surge and explode bigtime. Just what I have heard and seen just last week shopping around for my 116618LB.

It wasn't actually hard to attain the 116618LB as in where I couldn't actually find one but the asking prices were up there to be honest. Thats why it took me a while to get it because these have also risen so much I was a bit shocked because I was eyeing this watch since 2-3 years ago and compared to back then its gone crazy high.

RG SKyDs for $45k. LOL that is pretty much retail. I got mine for $33k BNIB. Thats a HUGE jump.

Now I"m seeing RG DD40s for >$35k huge jump from the $28k I got it for as well not so long ago.

I really really hope this is not the start of the PM FOMO or investment mentality because I've got my eyes on other PM pieces I want. LOL - I wont be able to afford the damn things they are already so expensive..

Yes, I agree. I was able to source my DD40 just under 30K just last year. Over 40K makes it uncomfortable for me. That's pretty much my ceiling.

[Vipes]

The big 3 (Rolex, AP, Patek) are still very hot. I spoke with 3 ADs and they are doing better in sales than last year (Patek and Rolex ADs). New AP boutique opened in my area a couple of months ago and they are doing really well. Seems like the watch market is still going strong. I guess the shortage in SS pieces is causing buyers to gravitate towards PM.

[peterpl]

Originally Posted by Vipes

Seems like the watch market is still going strong. I guess the shortage in SS pieces is causing buyers to gravitate towards PM.

Yeah watch market is still quite strong. I was convinced with 33% GDP drop and like 40+ Million unemployed the watch market was going to tank. LOL

Money is pouring in from somewhere.

Dont really agree that SS shortage is causing ppl to buy PM. Someone in the market for a $10k-$15k watch cant all of a sudden drop $35k on a watch. Its easy to say but hard to do without stretching financially and that alone would eliminate 90% of SS buyers.

Dunno what it is causing the hype. Might be grays hoarding as well just like we saw with SS. Artificial maybe?

[Wcdhtwn]

Originally Posted by Vipes

The big 3 (Rolex, AP, Patek) are still very hot. I spoke with 3 ADs and they are doing better in sales than last year (Patek and Rolex ADs). New AP boutique opened in my area a couple of months ago and they are doing really well. Seems like the watch market is still going strong. I guess the shortage in SS pieces is causing buyers to gravitate towards PM.

Where are you in TX? I'm in Houston, have I missed an AP Boutique opening around me?

[tie219]

Originally Posted by Wcdhtwn

Where are you in TX? I'm in Houston, have I missed an AP Boutique opening around me?

I live in Houston too and only know of Zadok in our area and they're not a boutique. I think one opened up in Dallas recently.

[Wcdhtwn]

Originally Posted by tie219

I live in Houston too and only know of Zadok in our area and they're not a boutique. I think one opened up in Dallas recently.

Yes, Zadok is the place for AP and several other brands. The manager told me they are reorganizing the store and will be building boutiques for several brands inside the shop, i don’t remember which ones but I’m pretty sure he said AP and IWC, and a couple others. I don’t think that turns it into an official AP boutique but sounds like they are trying to make individualized/personalized buying experiences for certain brands.


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[JodyHighroller]

Originally Posted by Wcdhtwn

Where are you in TX? I'm in Houston, have I missed an AP Boutique opening around me?

There is an AP boutique now in Highland Park Village in Dallas.

[fsprow]

As they say:
“A rising tide raises all boats”

Many people have money to spend and are doing so.

[jltait]

Gold isn’t all of a sudden worth more. The dollar is all of a sudden worth less. You won’t see inflation in the usual places these days, not yet at least. That pm Rolex you’re shopping for, it costs more in nominal terms. And that ticking you’re hearing inside the case - a tiny printing press.

[peterpl]

Originally Posted by jltait

Gold isn’t all of a sudden worth more. The dollar is all of a sudden worth less. You won’t see inflation in the usual places these days, not yet at least. That pm Rolex you’re shopping for, it costs more in nominal terms. And that ticking you’re hearing inside the case - a tiny printing press.

Its got nothing to do with the US Dollar at the moment. Its only marginally weaker. Nowhere near enough to justify the price rises in any PM watch.

[gaeleus]

Originally Posted by jltait

Gold isn’t all of a sudden worth more. The dollar is all of a sudden worth less. You won’t see inflation in the usual places these days, not yet at least. That pm Rolex you’re shopping for, it costs more in nominal terms. And that ticking you’re hearing inside the case - a tiny printing press.

Agree with this. My sense, a lot of money printing by Fed. These are the signs of inflation/ currency devaluation. Yeah, the Dollar has def seen better days.

[peterskinner]

When I saw the title ‘gold is getting very hot’ I assumed this would be a discussion about how the weight of gold bracelets could be uncomfortable in the heat.
Boy, got that wrong.

[teager]

That was my initial thought too !

Originally Posted by peterskinner

When I saw the title ‘gold is getting very hot’ I assumed this would be a discussion about how the weight of gold bracelets could be uncomfortable in the heat.
Boy, got that wrong.

[mrricks]

Gold, love it!



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