Anyone do some selling off lately?

[Ocog]

Originally Posted by Patton250

Well with 3.5 million Americans applying for unemployment last week alone and another month of shut down in front of us I suspect you’re going to see people selling a lot more than watchers in the coming months.

As for me though no. I won’t be selling anything unless I get bored of it.

That 3.5M Unemployment claims are mostly from service industry employees or low level workers.

I hope those guys did not buy luxury items working in those types of roles.

[Mbalce]

Selling equities right now is not a good idea. Rearranging your portfolio to take advantage of what you think will be the winners in the New World is imperative.

Little over 2 weeks ago I dumped half my portfolio and put all the proceeds into AMZN at 1682. Seems to be working out.

[Geckobros]

Originally Posted by bayerische

Lots of silly and stupid comments between threads.

I own a restaurant. I’ve been ordered to shut down for two months by the government. No compensation as of yet (and frankly I don’t think I’ll see any).

99,9% of the ones affected now are 100% innocent! It’s not bad business choices. It’s not living beyond your means. It’s a influenza virus with an overreaction by the media/government/public that will be studied by our grand-grand-grandchildren.

I can’t do anything about it, I’m to remain shut for god knows how long! Although at the moment there’s no point for any restaurant to be open, as there are no patrons.

I can go for a year (and I’m the lucky one!) but I’m already after a few weeks of this madness seeing businesses close.

Funny since restaurants are usually very resilient to changes in the economy.

All I can really say; it’s not fair. I like many others have a very well managed business. But our industry’s support did go from 100% to 0% in a few days.

Sorry to hear about your troubles amigo. So your state isn't allowing you to make deliveries? I am unsure as to what sort of restaurant you own or where you live but here restaurants are delivering and paying delivery services to do so. May things get better sooner rather than later.

[hectorlopez]

Originally Posted by Mbalce

Selling equities right now is not a good idea. Rearranging your portfolio to take advantage of what you think will be the winners in the New World is imperative.

Little over 2 weeks ago I dumped half my portfolio and put all the proceeds into AMZN at 1682. Seems to be working out.

You must be a fortune teller. Thats about as low as it's been in the last year.

[Mbalce]

Originally Posted by hectorlopez

You must be a fortune teller. Thats about as low as it's been in the last year.

I will say I started prepping hard about 2nd week of Feb. This whole shit show wasn’t really that hard to predict after about then. Pollyanna is a hell of a drug.


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[westcoastghost]

I paid slightly above MSRP for a new no date sub last year after talking to several sketchy ADs in OC over 8 months wanting any stainless GMT. I ultimately settled for a sub since the markup wasnt too bad (5%). If I can finally land a new GMT I will definitely attempt to sell the sub after landing one.

[bayerische]

Originally Posted by Geckobros

Sorry to hear about your troubles amigo. So your state isn't allowing you to make deliveries? I am unsure as to what sort of restaurant you own or where you live but here restaurants are delivering and paying delivery services to do so. May things get better sooner rather than later.

Thanks!

Sure, delivery or take away.

However for us it isn’t possible. I have a 32 year old brand to protect and the restaurants in our small town who are now doing it won’t do it for long as it costs more than it brings. If I had acute cash flow problems, I guess we would attempt it, but seriously it’s not a good option. Not for us.

Some simpler places might be successful at it. And I’m glad if they are.

[bin31z]

Originally Posted by Ocog

That 3.5M Unemployment claims are mostly from service industry employees or low level workers.

I hope those guys did not buy luxury items working in those types of roles.

3.5? Try 6.6 this week.

[Nairn1980]

Originally Posted by westcoastghost

I paid slightly above MSRP for a new no date sub last year after talking to several sketchy ADs in OC over 8 months wanting any stainless GMT. I ultimately settled for a sub since the markup wasnt too bad (5%). If I can finally land a new GMT I will definitely attempt to sell the sub after landing one.

Someone on another thread claims 1-2 hours of phone calls in your area will get you a Pepsi from an AD.....I don’t buy that, but that’s what he thinks....

[Boaters]

Originally Posted by GradyPhilpott

Everything is staying put, except the Thunderbird I bought from a friend, who now that he's doing better financially, would like to have it back.

I told him I'd sell it back to him, but that he'd have to pay for the service I had done on it.

He was good with that.

We won't make the deal until the all clear is given however.

Thats what friends are for .. love it

[peterpl]

Originally Posted by Nairn1980

Someone on another thread claims 1-2 hours of phone calls in your area will get you a Pepsi from an AD.....I don’t buy that, but that’s what he thinks....

Its only been a few weeks since all this started. Look how weak the prices of luxury items are already.

In another couple of weeks you will see BLNRs for 11s from private sales (probably you can get these prices now) and BLROs will be 13s soon in private sales.

Some dreamers trying to sell Hulks as well for $14k. There is NO way a dealer would even offer $11.5k for one at the current time. They'll be lucky to get $12k now in private sales.

Another 2 months of this prices are going to dive. Imagine what 6 months will do to these prices. These are not food or houses. NON essential items are the first to go.

I would NOT be buying any hyped model for a premium at the current time if I was in the market for one. 100% you will lose money on it these days.

[Nairn1980]

Originally Posted by peterpl

Its only been a few weeks since all this started. Look how weak the prices of luxury items are already.

In another couple of weeks you will see BLNRs for 11s from private sales (probably you can get these prices now) and BLROs will be 13s soon in private sales.

Some dreamers trying to sell Hulks as well for $14k. There is NO way a dealer would even offer $11.5k for one at the current time. They'll be lucky to get $12k now in private sales.

Another 2 months of this prices are going to dive. Imagine what 6 months will do to these prices. These are not food or houses. NON essential items are the first to go.

I would NOT be buying any hyped model for a premium at the current time if I was in the market for one. 100% you will lose money on it these days.

I only buy at MRSP anyway and i agree prices are falling from previously hyped prices.

I just don’t buy the concept of every Rolex model sitting in AD windows. Rolex has worked hard to make certain models “unobtainable” and I don’t see them wanting windows full of ceramic Pepsi’s. just my opinion

[peterpl]

Originally Posted by Nairn1980

I only buy at MRSP anyway and i agree prices are falling from previously hyped prices.

I just don’t buy the concept of every Rolex model sitting in AD windows. Rolex has worked hard to make certain models “unobtainable” and I don’t see them wanting windows full of ceramic Pepsi’s. just my opinion

Give it time. You will see these watches are at the absolute bottom of the barrel at the moment for many including myself and I AM a Rolex lover. LOL

If I was offered a LV/BLNR/SD43 at retail today I would pass. A BLRO at msrp "maaayyybbbee" I would take it because I do like the new bezel shade.

I was even thinking of selling both my DD40s not because I need the money but because of the entire situation has made me feel bad about wearing any of my watches. I havent worn them for 3 weeks now since all this started.

I've only been in lockdown for 2 weeks as well. Imagine another 6 months!!!! Geez that will absolutely kill all the prices for hyped pieces.

Just look at the sales now. Sooooooooooo many ppl selling at the moment.

[icnbne]

RSC has my Seadweller indefinitely lol, so i won't be able to sell even if I can't feed my wife. Guys, plan ahead for these things

[In-Cog-Neeto]

Yes I have

I love Rolex, and all my watches, but in my opinion the market will correct in a major way and I want to be temporarily out while at the peak. I can reevaluate in the future

All the Dealers in U.K. and where I am currently located are not buying.

I have heard from numerous people in the industry that BLNR jubilee (if that’s your thing) can now be picked up for £10k from dealers. This is unheard of and is just the tip of the berg.

Rolex are, and always will be, easily liquidated. It just depends on when you chose to do it. For me, it was now and I luckily, and unintentionally, made a little money on each piece while having enjoyed them for a period also

Everyone is in a different situation, some extremely dire, and I hope it improves for everyone out there. Watches are just a frivolous item which ultimately has no real significance

[TankTom]

Originally Posted by enjoythemusic

Selling? Heck no!!! Am buying, and in fact got this from Nick @ Mayors Jewellers in Tampa this week :)

If anyone is selling a Hulk with box, papers, etc at or below MSRP lemme know. i don't mind a few scratches as wear 'em like beaters.

Love this. But you won’t be liked by the doom and gloomers on here (in abundance). You should be selling everything because of what’s going on apparently. It’s the moral thing to do

[Arcticsub]

Originally Posted by Ocog

That 3.5M Unemployment claims are mostly from service industry employees or low level workers.

I hope those guys did not buy luxury items working in those types of roles.

I've seen some heartless posts since the start of this outbreak, but this one truly takes the cake.

[chaisson]

Originally Posted by Arcticsub

I've seen some heartless posts since the start of this outbreak, but this one truly takes the cake.

You hit the nail on the head.....

[brandrea]

Originally Posted by Ocog

That 3.5M Unemployment claims are mostly from service industry employees or low level workers.

I hope those guys did not buy luxury items working in those types of roles.

Do you travel much or just live in your little bubble? Lots of “low level” service employees wearing Rolex

[myusernamez]

Originally Posted by Patton250

Well with 3.5 million Americans applying for unemployment last week alone and another month of shut down in front of us I suspect you’re going to see people selling a lot more than watchers in the coming months.

As for me though no. I won’t be selling anything unless I get bored of it.

I think you mean 6.6Million

[Tha Baron]

I punted a DJ and Tudor at the end of February... timing was great although I never wore them.

[GoingPlaces]

Originally Posted by Ocog

That 3.5M Unemployment claims are mostly from service industry employees or low level workers.

I hope those guys did not buy luxury items working in those types of roles.

Wow, just wow.

[Marcjvr]

Originally Posted by Ocog

That 3.5M Unemployment claims are mostly from service industry employees or low level workers.

I hope those guys did not buy luxury items working in those types of roles.

Never look down on anybody unless you’re helping them up.

[Speedsleev]

Some selling as well as some buying.

[GradyPhilpott]

Originally Posted by Boaters

Thats what friends are for .. love it

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[brmott]

Originally Posted by Ocog

That 3.5M Unemployment claims are mostly from service industry employees or low level workers.

I hope those guys did not buy luxury items working in those types of roles.

Wrong. Try again. Man, the arrogance is abound. I’m in the oil/fuel industry. Lots of educated, hard working, experienced folks now without a job. Definitely not low level workers.

[Rolex3135]

Originally Posted by brmott

Wrong. Try again. Man, the arrogance is abound. I’m in the oil/fuel industry. Lots of educated, hard working, experienced folks now without a job. Definitely not low level workers.

Entire sales forces are being laid off or furloughed, from the absolute top. This isn’t going to get any better either.

[Mbalce]

Originally Posted by brmott

Wrong. Try again. Man, the arrogance is abound. I’m in the oil/fuel industry. Lots of educated, hard working, experienced folks now without a job. Definitely not low level workers.

Gotta agree with you on this one. In the IT field. 6 months ago we were offering stupid wages for any decent Sales Engineers. Finding good people has been our companys biggest go to market challenge. Wages have increased over 50% for that position over the last 5 years.

We just laid off half of them.


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[Rashid.bk]

Originally Posted by brmott

I see ignorant and arrogant statements like this far too often. With the unprecedented turmoil on the economy, people’s situations can turn from great to dismal very quickly. I personally know several people who have lost jobs recently. Another one that might have to come out of retirement due to the loss in his portfolio. If I lost my job, would I sell my unnecessary luxuries to keep a roof over my family’s head and food on the table? Damn right I would. Does that mean that those who find themselves in a hardship couldn’t afford a watch prior to Corona? No, it doesn’t.

Very well said.

Originally Posted by aw9nineteen

I disagree with that. If you are purchasing luxury items, I’d hope you have savings or enough to float you without income for at least a few months. Also, in the US they are doing things to help Small Business owners. I’d hold the watch. I’d rather take out a loan with low interest for 6 months than give up my timepiece.

I am a Small Business owner like a lot of others on this thread. Any shut down is devastating, especially suddenly. Tough times don’t begin to describe what is currently happening. I’d just hope that someone who buys a 10-20k watch, has a solid amount of capital on the side. No judgement here, as I am in real estate and understand that most people don’t have an emergency fund, and I myself have had some tough times.

I wouldn’t sell my watch because it would feel a part of me. Like I said, I’d take out a loan to cover overhead. It will come back around. I tend to be optimistic.


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I had a nice amount of capital saved up, own two watches and then suddenly corona world, but that's not all, I've been hit by an illness that has left me partially paralyzed all over.
Now without corona world I could manage for about six months, but add the effects of the virus and the future looks bleak.

It's easy to point fingers to those who are more vulnerable during hardships when you have seemingly made all the right choices in life. It's one thing to work a retail job, live check to check, buy a watch on credit and then complain about hard times. This is being compared to the spanish flu and the great depression if it keeps escalating. Under the best of circumstances, only those that are truly wealthy and have a sound extended family structure can weather this type of storm.
A watch is simply a toy to me when put up against what we are seeing with this virus and it's an after thought when put up against one's health. I am not a collector nor an investor and a watch is easily liquidated. I think I can find many other things in my life that are truly valuable, to me or my family.

[ChrisGio315]

Im more so looking to buy/trade rather than sell right now...Everything will recover eventually