Schizofrenic Daytona owner with a question

[Baksken13]

Hi everyone,

I initially had a 116520 (black dial) which I sold to a friend of mine when I had a chance to buy the 116500LN panda dial. But each time I saw my friend with my watch😁, I started regretting more and more the fact that I sold the 116520. I told him that if one day he would dispose of it, he should give me a right of first refusal, which he did and I bought it back😎.

I have now two daytona’s in my collection and to be bluntly honest, I have a sort of love & hate affair with the 116500LN. I really like the watch but I am missing that special connection with it (which I for example ave with my 16750).

With that in mind and having regard with the price evolution of the 116500LN, I am treating this watch a bit more of a little investment. I am sure that a lot of you will think now “you should not consider watches as investments (there are better ways of investing), you are killing the watch passion, etc.” but fact is that having a couple of other watches in my collection it is comforting to know that at least one will retain and/or increase its value whatever happens.

Question now to you: how do you see the price evolution of this model in the medium/long term? Knowing that I do not have sentimental link with the watch, should I sell it now or wait longer and enjoy a further (if any) value increase?

Thanks a lot for your thoughts

[RJRJRJ]

I don't think anybody has the answer to that.

[|404|]

Sell it now whilst the prices are hot, no-one can predict the market. Even if they carry on going up, you're not going to lose that much.

But if they crash...

[Baksken13]

Originally Posted by RJRJRJ

I don't think anybody has the answer to that.

I know that no one has a crystal ball, just asking for personal opinions😉

[ckaynyc]

I would sell and invest it in more traditional means, or consume it on things that will bring you more happiness than the watch.

[beshannon]

Originally Posted by Baksken13

should I sell it now or wait longer and enjoy a further (if any) value increase?

Has it reached your price target?

If so, then sell

If not, then hold

[MinMay]

who cares what people think....all that matters is you...and your happiness.

If you want to keep the watch sitting there for 20 years or 30 years to maybe double your money or break even, then it's your decision. Hopefully, you'll see the outcome :)

Just remember...your Daytona is not rare or one of a kind... 200 years from now, Rolex will always have a Daytona in their product line.

[watchwatcher]

I would have never dreamed it would hit 20k, so I obviously am not the right guy to ask.

Seriously though, it hasn't shown much signs of stopping since it broke through the 20k barrier. Unless you're just physically repulsed by the sight of it, I think I'd hang on to it a while longer.

[R!$]

Originally Posted by Baksken13

With that in mind and having regard with the price evolution of the 116500LN, I am treating this watch a bit more of a little investment.

[DahMan]

Oh ,you’re absolutely fine. Your not a physco, would you mind giving your current location, address, and please stay put...
We just want to all stop by, and give you a high five, or whatever to you, is less threatening, maybe a “what’s up”....
Anyway give us the info , and hang tite...
Your the best.......

[peterpl]

Sell it now while its a bubble and cash in. Then buy something you really can connect with.

[Roger Lococco]

Originally Posted by ckaynyc

I would sell and invest it in more traditional means, or consume it on things that will bring you more happiness than the watch.

Exactly


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[GFONG]

The higher price is the purchasing price not the selling price. Please note that resellers need to make profit (around 20%). After deduction of the reseller profit, I don’t think you make a lot of profit.

[RHIII]

Sell it and move on. It’s just a watch - we’re not talking about a PN or a Big Red 6263 — this is a modern Daytona - which will be around for years to come.


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[Nikrnic]

I agree, if you don't wear it or enjoy wearing it don't keep it. The market is hot now, I wouldn't speculate on it as being an investment. The must be another one you'd like to have.

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[jfmiii]

anyone who thinks these bubble grey prices are sustainable, read the OP again. he isnt the only one. how many people are out there hoarding modern SS watches they dont really want but dont sell bc they view it as an "investment?" at the first hint of downward pressure on prices, guys like the OP will be flooding the market.

sell the watch OP. 30-40% appreciation on modern SS Rolex is ephemeral. youre much better off with that 15-20k in a real asset than a trinket.

[accountank2000]

If you don't have any kind of sentimental link with the 500LN, and you already have the 520:

Imagine your friend has gone behind your back, stolen your 116500 and papers, and sold it for current market value (say, $20k or whatever the market is at right now). But he didn't keep the money for himself like a thief... he just deposited it in your bank account.

You'll be angry he did it, broke your trust etc, but at the end of the day, you didn't have a sentimental connection with the piece and with all that cash in the bank account, you can buy it back (or an equivalent, same model) tomorrow if you wanted. So you won't be mad at him forever.

And then the question becomes one that might be easier to answer. If you have a 520 on your wrist and (say) $20k in your pocket to spend on either another watch or a traditional investment... out of all the possible uses on planet earth for that $20k - would you really really think the best thing you could buy is a 116500LN?

A watch that you don't have a special affinity for, that doesn't 'sing to you' or whatever, and would cost you some high multiple of MSRP without being particularly rare (modern reference, not discontinued etc). It's expensive because there is a lot of money in the market at the moment. That won't always be the case. When we go through a recession, stock market crash etc, it won't be valued at a high multiple of MSRP. So, knowing it won't always be worth that high multiple, and you don't love the watch, why buy it?. Why not keep the $20k instead, to spend it on more sensible investments, or more exotic pursuits?

The smart move is not to buy it. So, sell it, and then you will be in that position where you don't have it and you know the smart move is not to buy it.

Instead you're choosing to think of it as a "should I sell... it might go up in value and I might be able to time it perfectly and get out at the perfect temporary top of the market!" decision. But that's the sort of thing that people do when they are seduced by a nice market upswing in some investment, and aren't thinking clearly. Or maybe what people do when they are seduced by a perfect 'grail' watch and are letting their heart rule their head.

But you know it's not your perfect grail watch, and you know it's currently trading for a pretty high price. So, don't get taken in by the hype. The market is fickle. If you hold it there's no more likelihood of being able to sell at a higher premium than there is of having to sell it for less than you could get from a portfolio of global equity funds. Sell up, and don't buy it back.

[KBM]

It's ok to go against the grain and not like a popular model. Cash in now, as a current production model can't stay much above retail forever.

[bdex75]

Sell it now. Even if they go up, so what. Take your money and run.


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[psv]

Sell the '500 Daytona and be done with it. Who knows if prices will go up or down? There might be another economic meltdown and then prices fall?

If you don't love your ceramic Daytona, take the profit and be happy. It is that simple.

[imgook]

Sell sell sell!

[Cold904L]

PSA: Being “schizophrenic” isn’t humorous. It’s one of the most devastating illnesses known to man. You could do better.

[Token74]

I can see it continuing to climb, but only inline with inflation, so I’d sell if I were you. I’m considering letting mine go as it is getting very little wrist time, but unlike you I do have a connection with mine so it’s not an easy choice. But financially, it’s far more straight forward.


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[Rocco21]

I do not believe that the price will go any higher as it’s pretty absurd now,I think this time next year they will be selling around 16-17k.

[Toony]

Why not ask your friend to trade your old watch back to you for the new Daytona?

[VicLeChic]

My common sense (or so I think) tells me the following.

Long term, secondary market price for your Daytona will go up if economy does well. I can't see demand abate in such scenario.

There's however a risk of bubble burst if we enter a recession and demand falls off a cliff. No negative effect on MSRP but huge impact on grey price.

Me, I'd hold on to it unless something else picks my fancy and I'm strapped for watch cash (which I am).

[brandrea]

Originally Posted by kauebm

It's ok to go against the grain and not like a popular model. Cash in now, as a current production model can't stay much above retail forever.

Exactly this

[1William]

Take the profits from the sale of the Daytona-C and get something else that you like. The market will never be better for it.

[brettpaul]

Originally Posted by |404|

Sell it now whilst the prices are hot, no-one can predict the market. Even if they carry on going up, you're not going to lose that much.

But if they crash...

Have to agree with James here - the price is high now as it's still in high-demand, and likely will be for a while. If you sell you reap the benefit of the high price and can always reacquire for similar (if not a bit less) cash.

I too have the 116520 and it's just a great watch...love the steel bezel. I will get the new LN eventually, but too many other watches for similar money to buy rather than pay a premium.

[encarter13]

Sell now!

Bird in the hand is worth two in bush. Don't get greedy. Take the money and run. ETC....