“Hulk” prices Sure dropped quickly

[JSolution]

Starting to look a little more realistic as a buy now if you were in the market for one, considering it’s a discontinued piece. That hype was crazy just after the discontinuation I have a good friend who’s a grey dealer who sold a few at £17k and some were listed a lot higher. Crazy what the hype can do to do a watches prices!

Anybody manage to take advantage of the situation and “trade up” towards something else they wanted more? Sure would of been a good opportunity to do so would love to hear any stories?

Hope you’re all well

[mykii]

Not sure what you mean by realistic, the only prices which have shown some softness are the older (several year old) and well worn models. To me that makes sense.

NOS with any type of sticker/unworn are still trading strong, unchanged. Those will be the ones to hold long-only, as for every one that sells, there are fewer unworn NOS in the world.

[JSolution]

Originally Posted by mykii

Not sure what you mean by realistic, the only prices which have shown some softness are the older (several year old) and well worn models.

NOS with any type of sticker/unworn are still trading strong, unchanged.

Just pre-owned models in general. Obviously NOS will always command a higher premium for any watch.

[Tavli3]

The new Kermit price have come down too.
Natural as more supply comes into the market


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[jaychief]

These prices are crazy who is buying them ? A watch shop in London this week told me that hulk sold for £19000...

[fskywalker]

Stop the madness!


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[mykii]

Originally Posted by fskywalker

Stop the madness!


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Why is it madness? No one complained when the original LV Kermits reached 30k NOS.

Once a watch is discontinued, it's all fair game IMO . Now as for current models...

[Nikrnic]

I haven't paid much attention lately but it always comes down to supply and demand. As usual when somethings discontinued the hype and prices escalate as more people want to dump for profit the demand softens as well as prices. I'm sure Hulk prices will soften but will remain higher than before they were discontinued as well as any that are not in production anymore including black 11 series.

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[Fleetlord]

Originally Posted by JSolution

Starting to look a little more realistic as a buy now if you were in the market for one, considering it’s a discontinued piece. That hype was crazy just after the discontinuation I have a good friend who’s a grey dealer who sold a few at £17k and some were listed a lot higher. Crazy what the hype can do to do a watches prices!

Anybody manage to take advantage of the situation and “trade up” towards something else they wanted more? Sure would of been a good opportunity to do so would love to hear any stories?

Hope you’re all well

The watches worth trading up to have gone up themselves, so no gain.

[Bizcut1]

Now over 650 of them on Chrono 24. Every day there are more listed.

The hype was real. The hype is real. This is an emotional ballgame.

I sold mine, originally bought in January of this year at MSRP,
and purchased a new Bluesey (July 2020).

[dmash]

What’s insane to me is some of the guys paying 2x MSRP prices aren’t even loaded to the gills, they’re legitimately spending all their savings to get said watch. That’s so incredibly boring to me to spend all your money on a single watch and have nothing leftover for other fun stuff stuff/travel.

[Bizcut1]

Originally Posted by dmash

What’s insane to me is some of the guys paying 2x MSRP prices aren’t even loaded to the gills, they’re legitimately spending all their savings to get said watch. That’s so incredibly boring to me to spend all your money on a single watch and have nothing leftover for other fun stuff stuff/travel.

How do you know how much they have in savings?

What does “legitimately” spending mean?

Not trying to flame. But curious as to the source.

Ben

[Handey0465]

Originally Posted by Bizcut1

How do you know how much they have in savings?

What does “legitimately” spending mean?

Not trying to flame. But curious as to the source.

Ben

Exactly. I’m curious how he knows the finances of the buyers....

[dmash]

Originally Posted by Bizcut1

How do you know how much they have in savings?

What does “legitimately” spending mean?

Not trying to flame. But curious as to the source.

Ben

I’m friends with some guys who are hypebeasts, influencer types and know this for a fact. Obviously not saying this is the entirety of buyers, just stating there are actual people doing this. Hence me stating ‘some’, as I meant a (very) small subset with which I know with certainty. However if 1 or 2 exist I’m sure there are more. These are the same people who ask their friends to cover NYC rent temporarily because they just dropped a few grand on a Supreme release.

In a different type scenario, one of my long time friends has never cared about watches and still doesn’t. But he wants ‘cool pics’ so he buys a nice watch, grabs pics for a month, then flips it and moves to something else. Will drop wrist shot months later, as if he has this massive collection on IG, but in reality he never owns more than one at a time, haha. There’s always been a part of luxury watch segment who were ‘trendy’ buyers but the pool of them now is unbelievable.

This entire hobby is changing, for how long who knows.

[Rado63]

The least expensive seem to be the oldest watches from 2010. If you want one grab an older one in need of service and make it look brand new.

[chaosiwe]

Originally Posted by fskywalker

Stop the madness!


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The major madness is happening with PP sport pieces prices

[Vivalas]

Originally Posted by jaychief

These prices are crazy who is buying them ? A watch shop in London this week told me that hulk sold for £19000...

Crazy pricing, really is.

[Bizcut1]

Originally Posted by dmash

This entire hobby is changing, for how long who knows.

That’s for sure.

[Toproll85]

Even at 17K, that's twice its base cost.
The only thing that falls quickly is the hair of those who could not have one at the list price!

[boogiebot]

Originally Posted by dmash

I’m friends with some guys who are hypebeasts, influencer types and know this for a fact. Obviously not saying this is the entirety of buyers, just stating there are actual people doing this. Hence me stating ‘some’, as I meant a (very) small subset with which I know with certainty. However if 1 or 2 exist I’m sure there are more. These are the same people who ask their friends to cover NYC rent temporarily because they just dropped a few grand on a Supreme release.

In a different type scenario, one of my long time friends has never cared about watches and still doesn’t. But he wants ‘cool pics’ so he buys a nice watch, grabs pics for a month, then flips it and moves to something else. Will drop wrist shot months later, as if he has this massive collection on IG, but in reality he never owns more than one at a time, haha. There’s always been a part of luxury watch segment who were ‘trendy’ buyers but the pool of them now is unbelievable.

This entire hobby is changing, for how long who knows.

Sounds like you have some interesting friends. Out of pure curiosity, how old are your friends


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[mykii]

Originally Posted by dmash

I’m friends with some guys who are hypebeasts, influencer types and know this for a fact. Obviously not saying this is the entirety of buyers, just stating there are actual people doing this. Hence me stating ‘some’, as I meant a (very) small subset with which I know with certainty. However if 1 or 2 exist I’m sure there are more. These are the same people who ask their friends to cover NYC rent temporarily because they just dropped a few grand on a Supreme release.

In a different type scenario, one of my long time friends has never cared about watches and still doesn’t. But he wants ‘cool pics’ so he buys a nice watch, grabs pics for a month, then flips it and moves to something else. Will drop wrist shot months later, as if he has this massive collection on IG, but in reality he never owns more than one at a time, haha. There’s always been a part of luxury watch segment who were ‘trendy’ buyers but the pool of them now is unbelievable.

This entire hobby is changing, for how long who knows.

This phenomenon is very real and this is a huge reason why prices have surged; its because of a younger market entering via social media. Actually, most of these people aren't even that young. There's tons of people in their late 20s/mid 30s and even older doing this. People love to show off.

And yes, people will spend money on things they like, and watches aren't excluded from that. No difference than the ladies who plonk money at Saks or Bloomingdales on bags/clothes/other crap no one notices except other likeminded souls. But I guess that's why they do it, too. .

[JSolution]

Originally Posted by mykii

This phenomenon is very real and this is a huge reason why prices have surged; its because of a younger market entering via social media. Actually, most of these people aren't even that young. There's tons of people in their late 20s/mid 30s and even older doing this. People love to show off.

And yes, people will spend money on things they like, and watches aren't excluded from that. No difference than the ladies who plonk money at Saks or Bloomingdales on bags/clothes/other crap no one notices except other likeminded souls. But I guess that's why they do it, too. .

Very good point I wouldn’t know a Birkin bag if I saw one

[Goin2drt]

Honestly I love my hulk but if someone came up to me on the street and offered this crazy money I ask him if he wants that bagged in paper or plastic. I got my from an AD at MSRP a few years ago, again I love it and wear it a ton but for double what I paid, I’d give it up. I am not that attached to any material thing that much.

[NYG1121]

This was so obvious. Feel for those who paid >20k. You might have to wait 20 years for that to be worth it (assuming you didn’t buy it because u actually love the watch.. doubtful for most that fell for it)

[peterpl]

Yep they did drop very very quickly.

I feel sorry the some of the stories I heard about guys flipping their 116619LB and 116618LB for a direct swap for an LV. That dealer is laughing all the way to the bank.

the Smurf is now trading above $40k for second hand and the full gold bluesy is now trading above $35k for second hand. Gold prices have increased WAY more than SS recently and the guys that did that trade got screwed bigtime.

This is a perfect example of never get caught in the hype especially for SS pieces that has been produced for 10+ years and are neither rare or limited.

[JSolution]

Originally Posted by peterpl

Yep they did drop very very quickly.

I feel sorry the some of the stories I heard about guys flipping their 116619LB and 116618LB for a direct swap for an LV. That dealer is laughing all the way to the bank.

the Smurf is now trading above $40k for second hand and the full gold bluesy is now trading above $35k for second hand. Gold prices have increased WAY more than SS recently and the guys that did that trade got screwed bigtime.

This is a perfect example of never get caught in the hype especially for SS pieces that has been produced for 10+ years and are neither rare or limited.

Yeah I do remember a post or two directly after it was discontinued such as you described. That was crazy. Ss subs being traded for gold models it was unbelievable.

[FTX I]

I remember someone posting that trusted sellers are just paying around msrp for new/mint hulks. Not sure it's true but I was really surprised to read that

[iLLGT2]

And there are people on the contrary, I just picked up an 18 mint complete in the 17's...wanted one for long time never got one from AD.

Lot of generalizing going around both ways! Yes there are some people buying them cause they've wanted and never got around to acquiring one... for a lot of people in this hobby the money isn't a big factor if its what you want !

[supernova]

Originally Posted by jaychief

These prices are crazy who is buying them ? A watch shop in London this week told me that hulk sold for £19000...

And you always believe everything a saleperson tells you?

[dmash]

Originally Posted by boogiebot

Sounds like you have some interesting friends. Out of pure curiosity, how old are your friends


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That’s what’s even more mind boggling, late 20s/early 30s (I’m 30 myself). Exactly as mykii mentioned right after you, it’s not even 16-18 year olds with this mentality, the need for ‘IG approval’ is strong even in my age group. Pandemic has only made this worse as they can’t show off in public, so they’re wanting to do so via social media even more so.

Nuts if you ask me, I didn’t even have an IG until I married my wife and that’s because she runs it for me