Watch pro say prices are cooling

[Shazbot302]

A lot of the grey marketers will go bust with even a slight correction in the market.

[Madman37]

Originally Posted by Posh Gentleman

i wonder who's even buying ss daytona for like $40k.

yes, for some folks that's not that much dough. but still, even for the rich, you can invest that wisely and that's significant enough of a capital base to make a difference in your net worth in the span of 5-10 years. and ss daytona isn't some high horology, exclusive piece from AP or Patek.

i got ss daytona from grey 2 years ago for like $17k. I thought I was over paying at the time. but $40k for daytona? meh, hard pass from me.

my guess is pm rolex models will nose dive sooner than later. pre owned YG subs that used to sell for like $22k are now selling above retail. i don't see this trend sticking around much longer. historically pm rolex models have not kept their value well.

I get what you say but it’s not about the investment it’s about the enjoyment. My father in law passed away a while back and he saved and saved and invested and died not buying the stuff he wanted even down to an expensive aftershave. The family ended up buying it and spraying it on him during the funeral which was very sad. It’s not all about net worth sometimes just buying the thing whatever quickly without all the “oh AD let me buy this let me get you a present etc etc” and enjoying before life goes boom and it’s over

[Posh Gentleman]

Originally Posted by Madman37

I get what you say but it’s not about the investment it’s about the enjoyment. My father in law passed away a while back and he saved and saved and invested and died not buying the stuff he wanted even down to an expensive aftershave. The family ended up buying it and spraying it on him during the funeral which was very sad. It’s not all about net worth sometimes just buying the thing whatever quickly without all the “oh AD let me buy this let me get you a present etc etc” and enjoying before life goes boom and it’s over

yea that is true tho. very true.

I am all for ppl buying stuff they really want, for the right reasons, in a responsible manner.

shelling out $40 grand for a SS daytona that could be bought for $17k just 2 years ago, I'd argue, is not a responsible or particularly intelligent use of your capital.

hype aside, is there a particularly compelling reason someone has to drop that kind of money on a ss daytona? or, is the "hype" the only major motivation for people dropping that kinda money on the watch?

if you are a genuine watch lover and a fan of chrono, you can just get an omega speedy for 1/10th of the ss daytona price.

[Madman37]

Originally Posted by Posh Gentleman

yea that is true tho. very true.

I am all for ppl buying stuff they really want, for the right reasons, in a responsible manner.

shelling out $40 grand for a SS daytona that could be bought for $17k just 2 years ago, I'd argue, is not a responsible or particularly intelligent use of your capital.

hype aside, is there a particularly compelling reason someone has to drop that kind of money on a ss daytona? or, is the "hype" the only major motivation for people dropping that kinda money on the watch?

if you are a genuine watch lover and a fan of chrono, you can just get an omega speedy for 1/10th of the ss daytona price.

I get what you say but again that’s like saying someone who buys a Ferrari is not really a car lover because you could buy a Volvo it has four wheels and an amazing engine. You can’t go top speed anywhere in the Ferrari or Volvo and the Ferrari is all over insta and your paying for the brand. I wish I could drop 40k on it because it would mean I was loaded

[mountainjogger]

Originally Posted by Brew

This thread reads like you're discussing pork belly futures.

[Aquinas]

Originally Posted by Madman37

I get what you say but again that’s like saying someone who buys a Ferrari is not really a car lover because you could buy a Volvo it has four wheels and an amazing engine. You can’t go top speed anywhere in the Ferrari or Volvo and the Ferrari is all over insta and your paying for the brand. I wish I could drop 40k on it because it would mean I was loaded

I wouldn't compare Rolex with Ferrari. If you only look at the product, Rolex watches are comparable with Omega or Zenith. We're not talking about haute horlogerie here. In my opinion, if you want to make a comparison with cars, it's Toyota vs. BMW. And quite frankly, I'd consider anybody paying two hundred grand on the secondary market for a Camry at best a marketing victim with poor impulse control.

[Nav01L]

“ This may explain why many traders are looking for “the next big thing” and are increasingly being attracted to low volume artisan independent watchmakers such as F. P. Journe, Philippe Dufour and Kari Voutilainen.”

Always said the highly recognizable dress watches would be next

[RogerOP]

At some point the numbers will have to stop.

Brexit, COVID lockdown, countries opening up for travel, etc means I’m sure the sharp rises will decrease.

I don’t think it will be tens of thousands, but seeing OP41 on Chrono24 for £3-4k more is just mad. Submariners are over x2 the RRP!

There’s a guy in WUS, sportura who has bought all his watches grey and calls us stupid for waiting. But I’m reality I’d feel a bigger idiot paying x2 more when I could just save the money, live my life and get it in a a year.

[askdanny]

Originally Posted by RogerOP

There’s a guy in WUS, sportura who has bought all his watches grey and calls us stupid for waiting. But I’m reality I’d feel a bigger idiot paying x2 more when I could just save the money, live my life and get it in a a year.

Oh, if you can get it in a year, sure; that's a no brainer. Even in two years.

But in the US, ADs can't tell you if you'll EVER get it. We no longer have waiting lists here; just VIP lists.

[Nauti]

I did the classic car thing in a big way and had a lot of fun along the way…

Friends who fancied a nice older car would ask…”what should I buy”…”what will make me money”…

I always answered the same way ….”don’t buy what others recommend, buy what you love what you will enjoy every time you drive it…that way if it goes down in value it doesn’t matter you still have something you love and the lower value is irrelevant as you aren’t selling it….and if by good fortune it goes up its a bonus”…..

That said the appreciation is appealing when most things blow money and owning these lovely watches is more enjoyable than having it sat in a bank earning ‘zip’…. Or at risk in certain markets….

If you look at the appreciation over 10 or 20 years its not a straight upward smooth line its more a sawtooth edge but always upward..(so far)

[RogerOP]

Originally Posted by askdanny

Oh, if you can get it in a year, sure; that's a no brainer. Even in two years.

But in the US, ADs can't tell you if you'll EVER get it. We no longer have waiting lists here; just VIP lists.

We are similar, it's a VIP list - but depends what you want. I'm currently waiting 9 months for a Submariner but my AD said within a year is realistic. But no hard and confirmed dates.

[enjoythemusic]

My best friend's sister's boyfriend's brother's girlfriend heard from this guy who knows this kid who's...

[Bobby100]

I hope this isn't the case, my friend stocked up on Daytona and Hulk from chrono24 saying they will keep going up.

[Madman37]

Originally Posted by Aquinas

I wouldn't compare Rolex with Ferrari. If you only look at the product, Rolex watches are comparable with Omega or Zenith. We're not talking about haute horlogerie here. In my opinion, if you want to make a comparison with cars, it's Toyota vs. BMW. And quite frankly, I'd consider anybody paying two hundred grand on the secondary market for a Camry at best a marketing victim with poor impulse control.

Basically my point is it’s upto whoever what they spend there cash on as long as it makes them happy.

[Mini2]

Im a firm believer what goes up must come down but I don't see corrections on hot pieces of 20%

[Etschell]

i knew i shouldnt have bought that white daytona for 37k plus tax.

[macrowatch]

Originally Posted by Aquinas

I wouldn't compare Rolex with Ferrari. If you only look at the product, Rolex watches are comparable with Omega or Zenith. We're not talking about haute horlogerie here. In my opinion, if you want to make a comparison with cars, it's Toyota vs. BMW. And quite frankly, I'd consider anybody paying two hundred grand on the secondary market for a Camry at best a marketing victim with poor impulse control.

I don’t know…I think it’s fair to ask if you would want 2 Platona or 1 296GTB. Lol.

I know not your specific analogy, but I’m sure this is crossing some people’s minds now.

[SubMillennial]

For every bubble there's always someone at the end holding the bag. Look to your left, then to your right. If it's just you on TRF saying "prices will never stop going up" or any variation on that, then we know who will be holding it.

[bonsai-man]

Prices are way softer in the UK atm, WF currently have a huge sale slashing between 1 - 3% off selected non Rolex, AP and Patek sports models. Oh and they have a 2016 Patek 5711 blue for only £94,950 ($132k) and a 2017 5167/a for just £42,500 ($59k) both with b&p.

Grab em while you can folks.

[SLWoodster]

The same exact guy that felt exactly how you feel, except he's willing to throw down $40k now.

Originally Posted by Posh Gentleman

i wonder who's even buying ss daytona for like $40k.

yes, for some folks that's not that much dough. but still, even for the rich, you can invest that wisely and that's significant enough of a capital base to make a difference in your net worth in the span of 5-10 years. and ss daytona isn't some high horology, exclusive piece from AP or Patek.

i got ss daytona from grey 2 years ago for like $17k. I thought I was over paying at the time. but $40k for daytona? meh, hard pass from me.

my guess is pm rolex models will nose dive sooner than later. pre owned YG subs that used to sell for like $22k are now selling above retail. i don't see this trend sticking around much longer. historically pm rolex models have not kept their value well.

[Oxfordian]

As a Rolex watch owner I am happy that my watches are holding their own value wise, I have no intention of selling but none of us know what is round the corner so I have a bit of security knowing that I should get back what I paid if I am forced to sell one.

I see no point in buying from anywhere other than the AD, paying over retail doesn’t seem logical, but that’s just me, so if markets are softening then it won’t affect me.

[dannyp]

Originally Posted by Mini2

Im a firm believer what goes up must come down but I don't see corrections on hot pieces of 20%

The hot pieces will stay hot. What might cool off are all of the “second choice” models. No longer will an Explorer II go for a high premium since you can’t get the GMT you really want.

[GSDLover]

Originally Posted by macrowatch

I don’t know…I think it’s fair to ask if you would want 2 Platona or 1 296GTB. Lol.

I know not your specific analogy, but I’m sure this is crossing some people’s minds now.

I doubt it. Not many people know what a 296GTB is, seeing how it was just introduced 8 hours ago.
And they are in the solid $300k area. IF you could get one.

[Madman37]

Originally Posted by GSDLover

I doubt it. Not many people know what a 296GTB is, seeing how it was just introduced 8 hours ago.
And they are in the solid $300k area. IF you could get one.

Rubbish only two seater. I would rather have an S class and would save a ton of cash.

[Aquinas]

Originally Posted by macrowatch

I don’t know…I think it’s fair to ask if you would want 2 Platona or 1 296GTB. Lol.

I know not your specific analogy, but I’m sure this is crossing some people’s minds now.

Here’s the thing: the platinum Daytona is not a great watch. Its movement is the same as the one in the ordinary Daytona, which for all matters and purposes is comparable with the speedmaster or, at best, the el primero. It’s a 10k watch in a 10k case. There’s a very good reason why they did not sell before Rolex became a universally acknowledged status symbol.
Now, of course, conspicuous consumption rules. As long as people know that the watch costs 100k, it’s worth 100k to any person who wants to show off that they can spend 100k.

[MILGAUSS88]

Originally Posted by Posh Gentleman

i wonder who's even buying ss daytona for like $40k.
.

I blamed Bitcoin millionaires.
I can't imagine anybody who works for their money being so willing to hand that much over to someone else.

This hypothesis would also explain a softening in the market if that is indeed true.
And if you are aware of the sport card market that would explain a lot there as well.

[GSDLover]

Originally Posted by Madman37

Rubbish only two seater. I would rather have an S class and would save a ton of cash.

Lol. You're funny.

[enjoythemusic]

Originally Posted by MILGAUSS88

I blamed Bitcoin millionaires.
I can't imagine anybody who works for their money being so willing to hand that much over to someone else..

The financial folks are rolling in bonus cash. Developers and real estate agents are doing well too.

[bob sims]

Originally Posted by Posh Gentleman

i wonder who's even buying ss daytona for like $40k.

Enough people, globally, to keep the price pretty close to 40.
The other day someone in NH left a 16K tip on a $30 check at a diner. People spend 6 figures on bar mitzvah and sweet 16 parties.

[huncho]

seems like prices have stagnated for this month at least, before this they were going up 1k or more per month it seemed