Craziest markup I've seen yet

[bob78h]

I was at a local mall today and noticed they had a couple of jewelry stores (non AD) that also sold pre-owned Rolex. This is a lower end mall (not a Westfield or anything) so I was quite surprised. Thought I'd take a quick look around, not expecting much.

One shop had a stainless steel Daytona 116520 from 2000. Having never seen a steel Daytona in the flesh I was quite excited to try it on. Then I asked the sales lady how much it was. Her response? "$69000, but we're doing 40% off today so it would be $41400". I almost thought she was joking at first but she said it very matter-of-factly.

I then asked if she knew that was over twice the market value and she told me she'd worked at Rolex for 6 years and I'd be lucky to even get on a list to buy a Daytona for $20k. At retail sure its unobtanium, but at $20k (for a non ceramic at that)? I know there is plenty of stock at grey dealers at that price.

How do these places stay in business asking 2x grey dealer prices? I understand charging a slight premium to cover showroom costs, but don't you also want to move inventory eventually? Are there really people who are so rich or ignorant that they'd drop that kind of cash on a watch without doing any market research or shopping around at all?

Anyway I guess my point is I'm used to seeing grey dealer premiums in this market but still found this shocking. They also had a 16613 (blue non ceramic Sub) for $15k and a 14060 for $9k. Still pretty overpriced but at least not as bad as that Daytona.

[Fchernyak]

Insanity


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[Jeronimo]

Completely crazy... I like the 40% discount particularly.


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[SLSteve]

How can I contact them? Have a nice Rolex they can buy ;)

[Nairn1980]

Originally Posted by SLSteve

How can I contact them? Have a nice Rolex they can buy ;)

These places then kick a watch in the nuts when you want to sell

[westcoastghost]

Why don't people call these people out? Why the discretion

[SS Oyster]

Who in the world would be stupid to buy it?


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[FireMedic37]

I ran buy a pawn shop here in Singapore...had a CHNR for 29,000 and my same SD for 33. I asked if she wanted to buy mine and she said no..........

[crowncollection]

crazy

[junamuan]

Crazy indeed

[kilyung]

Sucker is born every minute. Someone will buy it.

[Monte Cristo]

Tell her she’s dreaming

[Batmannr1]

Probably the watch is not owned by the shop.
Just a prop to generate traffic of curious customers

[artschool]

wow I can believe that SS Daytonas are worth 70k that's incredible.

[Watchdaytona]

They can ask what they want, doesn't mean it will sell.

[ToothandCrown]

Originally Posted by bob78h

I was at a local mall today and noticed they had a couple of jewelry stores (non AD) that also sold pre-owned Rolex. This is a lower end mall (not a Westfield or anything) so I was quite surprised. Thought I'd take a quick look around, not expecting much.

One shop had a stainless steel Daytona 116520 from 2000. Having never seen a steel Daytona in the flesh I was quite excited to try it on. Then I asked the sales lady how much it was. Her response? "$69000, but we're doing 40% off today so it would be $41400". I almost thought she was joking at first but she said it very matter-of-factly.

I then asked if she knew that was over twice the market value and she told me she'd worked at Rolex for 6 years and I'd be lucky to even get on a list to buy a Daytona for $20k. At retail sure its unobtanium, but at $20k (for a non ceramic at that)? I know there is plenty of stock at grey dealers at that price.

How do these places stay in business asking 2x grey dealer prices? I understand charging a slight premium to cover showroom costs, but don't you also want to move inventory eventually? Are there really people who are so rich or ignorant that they'd drop that kind of cash on a watch without doing any market research or shopping around at all?

Anyway I guess my point is I'm used to seeing grey dealer premiums in this market but still found this shocking. They also had a 16613 (blue non ceramic Sub) for $15k and a 14060 for $9k. Still pretty overpriced but at least not as bad as that Daytona.

I was just at the exact same store (Serramonte mall) today and I kid you not did the exact same thing you did. Only difference is she quoted me $50k. When I told her I could buy a new ceramic Daytona for 22k, she then mentions oh but it’s 40% off today. I was laughing my way out the store.

Btw, all the Rolexes on display were so horribly overpolished and in beat conditioned that the watches looked like fake knockoffs (not saying they are). The Milgaus they had was in such bad shape, I could only recognize it by the green sapphire glass

[s7horton]

Originally Posted by Watchdaytona

They can ask what they want, doesn't mean it will sell.

True story. I was on a cruise ship a few weeks back. They had a pre owned DD from the mid 90’s with a fair amount of bracelet stretch. They were asking $30k. I told her I could buy a new one for that price. They have had that watch since 2014. Clearly they aren’t moving stock.


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[jezza17]

Originally Posted by Monte Cristo

Tell her she’s dreaming

Haha yes true statement.

[Roddypeepa]

My thread on a £29 999 SubC date got locked by mods. Mad price. it’s still on Chrono24 uk seller


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[Roddypeepa]

Oh and there’s a 116520 on Chrono24 Swiss seller at £61 856. Beat that.


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[1665fan]

What a joke, probably there to create foot traffic so they can flip you to another crappier watch I’m sure....I would love to see those idiots buy a bunch of Daytona’s at that price lol

[ppalasthira]

Insane.


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[TswaneNguni]

Wearing my lovely IWC "le Petit Prince" Big Pilot today and enjoying it .

Rolex under armed guard.

[1William]

Funny story. I don't even waste my time today going into places like that.

[Swaye]

I accept that most people aren't like those of us on here and research and check stuff out all the time. But even a casual watch fan you would figure would pull out their phone and run a quick search on 116520 and see that there are lots of examples in perfect shape for 20K. It boggles the mind that they think they can sell this for twice the market rate?

[porschejeff]

Targeting Silicon Valley billionaires with more money than brains?

[173rdabn]

It seems sellers are under the impression that any price is OK no matter how stupid or absurd.

[s14roller]

Cant you wear one in and upon hearing this, roll up your sleeves and offer to them for half off? Instant profit for them!

[oldman2005]

Crazy but let me share my story: About 1.5 years ago we visited Las Vegas and saw a small both in a mall near the strip, I saw a used white stainless steel Daytona 116520 and asked the owner how much was it, he told me $24,000 or something around that. I thought it was crazy told my wife I paid around $7,000 for mine brand new from my AD...Fast forward to the present, the 116520 is being sold near that $24,000. Now that's crazy too!

[tkc324]

Someone with a lot of money but limited watch knowledge will come in and offer 30k then get the deal done at 35k...