Sell GMT-Master II now or later?

[Bellavance]

Hi

I've just purchased a new 116710 to replace my 4.5 year old 16710.

Dealer recommends that I keep the 16710 because it will appreciate with time, and I will eventually get a better price for it.

Is this reasonable? Do watches really appreciate with time?

Thanks.

[padi56]

Originally Posted by Bellavance

Hi

I've just purchased a new 116710 to replace my 4.5 year old 16710.

Dealer recommends that I keep the 16710 because it will appreciate with time, and I will eventually get a better price for it.

Is this reasonable? Do watches really appreciate with time?

Thanks.

I would doubt if any modern day Rolex will appreciate like its vintage brothers far too many around.The 16710 has not changed a lot since its introduction 1988/9 ,except for a few slight cosmetic changes and some have a slight movement mod.So who knows in 10-20 years if the 16710 will appreciate more say than any other type of investment.

[Puffy]

unless you need the cash i'd hang onto it. i love having old and new references in my collection

[Bellavance]

Many thanks for your answers. I don't really need the money fast ... nor do I need two expensive watches ...

What is the best way to sell such a watch and get the best price?

How can I find its true resale value? It's 4.5 years old and in the process of being overhauled by my local Rolex dealer.

Thanks again.

[krzspeedstr]

If you bought the new watch with the thought of repleneshing your watch funds with the sale of the previous model, I would sell now. However if you did not do that then I would suggest keeping it. You have had it for almost 5 years, it must have some emotional value as well for you.

[sailmed]

I would only keep it if it gives you great pleasure in doing so.

The time value of the money would likely offset any appreciation of the watch, in that it is not a rare vintage item.

Remember: at a 7% rate of appreciation, your principal will double every 10 years. Will this particular watch do that?

The best reason to keep it would be because you love it, otherwise take the money and run.

IMHO

[MortgageGuy]

I agree unless you are going to wear it on a regular basis and really enjoy keeping the watch, I would let it go... Put the $$$ toward something else or a better investment

[SaddleSC]

I would keep it for a different reason...I would hold onto it for six months or so to make sure that you still love your GMTIIC as much as you think you do right now.

I bought a GMTIIC and for the first couple weeks I was enamored with it, but after a month or so I quickly tired of the PCL and of the bold/flashy appearance of the watch...so I traded the watch for a classic 14060M (which I had owned before the GMTIIC).

I would keep the old-style GMT for at least a few months to make sure that you won't regret selling it down the road.

[Johny]

Originally Posted by SaddleSC

I would keep it for a different reason...I would hold onto it for six months or so to make sure that you still love your GMTIIC as much as you think you do right now.

I bought a GMTIIC and for the first couple weeks I was enamored with it, but after a month or so I quickly tired of the PCL and of the bold/flashy appearance of the watch...so I traded the watch for a classic 14060M (which I had owned before the GMTIIC).

I would keep the old-style GMT for at least a few months to make sure that you won't regret selling it down the road.

x2 this is a very good point.

[Bellavance]

Good idea. I'll keep it for a little while ... just in case ...

Thanks to all.

Is this forum a good place to get a good price for such a watch?

Originally Posted by SaddleSC

I would keep it for a different reason...I would hold onto it for six months or so to make sure that you still love your GMTIIC as much as you think you do right now.

I bought a GMTIIC and for the first couple weeks I was enamored with it, but after a month or so I quickly tired of the PCL and of the bold/flashy appearance of the watch...so I traded the watch for a classic 14060M (which I had owned before the GMTIIC).

I would keep the old-style GMT for at least a few months to make sure that you won't regret selling it down the road.

[CashGap]

Originally Posted by Bellavance

Good idea. I'll keep it for a little while ... just in case ...

Thanks to all.

Is this forum a good place to get a good price for such a watch?

I would say this is a good place to make a good sale, at a good price, to a good buyer. Plus establish yourself as a seller.

Since you have some time, stay on top of the buy/sell forum and watch what works. Start a draft version of your ad, you'll soon see the information everyone expects at the top of the ad. You'll get an idea of the market price for your reference and condition.

PHOTOS. I personally would pay a photographer to take great photos, it's that important. On a used watch, there is an asymmetry of information that discourages buyers from paying top price. Full disclosure of watch facts, seller reputation, and great photos help overcome that asymmetry and encourage buyers to pay closer to their top dollar.

Photos are less important when selling a new watch. If a trusted seller says "BNIB 116710 untouched all stickers all books and papers, random serial number, warranty card filled out February 2011", there isn't much else you need to know to pay your top price.

Photos increase in value as the distance from BNIB increases. Same seller with two BNIB watches will see very little difference in buyer price expectations between a watch with stunning photos and one with none. But as you progress through BNIB to MNIB to 95% to "keeps good time", photos become increasingly important

If you're already a great photographer, so much the better.

[Bellavance]

Thanks !!

I'll keep looking at the For Sale ads on this forum.

My main reason for getting the new watch was the modern numbers on the ceramic bezel, which I'd always preferred.

Originally Posted by CashGap

I would say this is a good place to make a good sale, at a good price, to a good buyer. Plus establish yourself as a seller.

Since you have some time, stay on top of the buy/sell forum and watch what works. Start a draft version of your ad, you'll soon see the information everyone expects at the top of the ad. You'll get an idea of the market price for your reference and condition.

PHOTOS. I personally would pay a photographer to take great photos, it's that important. On a used watch, there is a asymmetry of information that discourages buyers from paying top price. Full disclosure of watch facts, seller reputation, and great photos help overcome that asymmetry and encourage buyers to pay closer to their top dollar.

If you're already a great photographer, so much the better.

[(213)GMT]

Hang onto it. If you don't need the money, why not just hold it?

[PeterT]

I have watched the Ebay prices on these watches since I bought my 3 x GMT II models 2-3 year ago. I would suggest that prices are now approx 20% higher.
Hang on to it!
Peter

[Bellavance]

Because I don't need two expensive watches that will both need service every five years. I'll wait for it to come back from the overhaul, and meanwhile, I'll probably decide that I prefer the new one, and will then probably sell the 16710. I'll try advertising it here.

I don't have a son, and my 25 year old daughter thinks it's too big for her.

I'll keep my old Tag Heuer - it's $ worthless anyway - that I'll wear for a few weeks when the 116710 watch has to be serviced five years from now.

Originally Posted by (213)GMT

Hang onto it. If you don't need the money, why not just hold it?

[Bellavance]

20% higher than 2-3 years ago?

Originally Posted by PeterT

I have watched the Ebay prices on these watches since I bought my 3 x GMT II models 2-3 year ago. I would suggest that prices are now approx 20% higher.
Hang on to it!
Peter

[garGARgar]

Originally Posted by SaddleSC

I would keep it for a different reason...I would hold onto it for six months or so to make sure that you still love your GMTIIC as much as you think you do right now.

I bought a GMTIIC and for the first couple weeks I was enamored with it, but after a month or so I quickly tired of the PCL and of the bold/flashy appearance of the watch...so I traded the watch for a classic 14060M (which I had owned before the GMTIIC).

I would keep the old-style GMT for at least a few months to make sure that you won't regret selling it down the road.

x3. You never know. I much prefer the pre-ceramic GMT's.

[Lion]

If you do not need the money I'd keep the older GMT. I doubt it will lose money if you hold onto to it and who knows your daughter may change her mind. The trend has been for ladies to wear the Rolex tool watches!!!

[Richard.]

I would definitely keep it unless you need the cash. Recently the values have appreciated many times more than the interest the money would earn plus it's nice to be able to have a change now and then.

I was in exactly the same position 18 months ago and I sold my 16710. Since I was getting £600 more than I paid for it new (c. 1997) it seemed like the right thing to do. If I had the opportunity to buy it back today I'd probably pay another £600 on top again!

[mrbill2mrbill2]

As stated previously, if you do not need the money hold on to it.

[San Francisco]

I've noticed prices creeping up the last year or two. I've got the exact same watch and am thinking about selling mine too and have wondered whether or not it's worth waiting a bit. I've seen them going for around $4K in excellent used condition. They'll probably move up in price proportionately as Rolex prices move up. Can't see much more upside, they're all over the place. I do prefer the 16710 to the 116710, so agree with those who say you would wait for a few months to make sure you prefer the 116710.

[RRGHOST1]

If you are going to sell it, then straight after a service, is a good time. If you dont need the money then keep hold of it. It will not appreciate like the old Rolex's but you would get your money back what you payed for it, at least. That means you have worn a Rolex for peanuts over the years.

[Bellavance]

Thanks to all who responded. I'll wait for the 16710 to come back from the overhaul, and I'll probably sell it. I'm certain I'll be chagrined to sell it, but I'll cheer up by using the money for a Europe cruise next September.