Price shock

[Johny]

I was in Glasgow yesterday to have a look at the BATGIRL film set and decided to have a look round the watch shops. Two shops in the Argyle Arcade each had a second hand Anniversary submariner date for sale. They were each priced at a few pounds less than £19,000. I couldn't believe it. Is this really the level that prices have risen to?

[RotorSelfWinding]

Yes. The market is a complete dumpster fire. It's particularly bad in places you can walk into if that makes sense.

[enjoythemusic]

Yup... Time to pivot.

[jaychief]

Watch price gone crazy... Can't see it slowing either

[Cigars&Watches]

As I comparison Ive been getting notified by C24 regarding my CHNR.. (research I was doing at the time). When I bought mine in June 21 they were asking 27-28k CAD. Now that platform is asking about 10k more in 7 months.. crazy..

[jaychief]

Surly there a point we’re watching prices will level out… and have watches become more than watches…..


Sent from my iPhone using Tapatalk

[TimepieceRPP]

if you see 116518LN "Paul newman" i won't be surprised. I saw one of it stickered at C24 from Germany a week ago asking for 45xxxGBP and two days later, price changed to 48XXX and now 55XXX.....

[Dougiebaby]

Originally Posted by jaychief

Surly there a point we’re watching prices will level out… and have watches become more than watches…..


Sent from my iPhone using Tapatalk

Every watch channel on YouTube from WatchBox to Bob’s to other “watch industry experts” are predicting the storages and high demand to continue through this year. I saw one last night that predicted 41mm Sub dates to hit $25k (USD) by end of year. Obviously, these are all speculations but they all predict a continuation of the crazy watch market.


Sent from my iPhone using Tapatalk

[Parapraxis]

Originally Posted by Cigars&Watches

As I comparison Ive been getting notified by C24 regarding my CHNR.. (research I was doing at the time). When I bought mine in June 21 they were asking 27-28k CAD. Now that platform is asking about 10k more in 7 months.. crazy..

Wow you're right. Just checked my chrono24 account and they're going for 34-36k CAD on average now. Looks like the January price bump has hit the secondary stock now.

Glad I bought mine for 19.8k CAD tax-in back in 2020.

[StanGMT]

The grey market is crazy. The picture shows just the Daytona section of the window of my local 'grey' dealer. The whole window display included about twenty Rolex watches, different models, including GMTs and Submariners and mostly not more than two years old.

This dealer seems to have a good turnover, so people are presumably paying somewhere near the asking price for these watches.

Stan.

[S.Explorer]

Crazy times! In my view, there needs to be meaningful interest rate increases before you will see reseller prices falling.

[Mendota]

Originally Posted by Dougiebaby

Every watch channel on YouTube from WatchBox to Bob’s to other “watch industry experts” are predicting the storages and high demand to continue through this year. I saw one last night that predicted 41mm Sub dates to hit $25k (USD) by end of year. Obviously, these are all speculations but they all predict a continuation of the crazy watch market.


Sent from my iPhone using Tapatalk

Wow! Just wow! For all of our sakes, I hope that doesn't happen. That's not a good situation if a basic, current production sub hits $25K. Something is rotten in the state of Denmark if that happens.

[Harry-57]

From the title I was expecting to hear of a shock price drop.

The grey market mark ups are ridiculous but the shock value is long gone.

[brandrea]

Originally Posted by StanGMT

The grey market is crazy. The picture shows just the Daytona section of the window of my local 'grey' dealer. The whole window display included about twenty Rolex watches, different models, including GMTs and Submariners and mostly not more than two years old.

This dealer seems to have a good turnover, so people are presumably paying somewhere near the asking price for these watches.

Stan.

Nutty times Stan. Thanks for that

[Tim Plains]

All you have to do is Google / Chrono24 any watch to see what current market prices are.

Originally Posted by Dougiebaby

I saw one last night that predicted 41mm Sub dates to hit $25k (USD) by end of year.

I saw that as well. What I found odd is he showed the current MSRP at $14,700 USD. I'm in Canada and they are $11,900 CDN here. That conversion doesn't work out.

[GW44]

Originally Posted by S.Explorer

Crazy times! In my view, there needs to be meaningful interest rate increases before you will see reseller prices falling.

Which isn't going to happen any time soon. At all.

[blargle]

Originally Posted by GW44

Which isn't going to happen any time soon. At all.

what else do you suggest is done to combat rampant inflation?

[Loevhagen]

Originally Posted by enjoythemusic

Yup... Time to pivot.

I get the reference. ;)

However, on a serious note - I actually did pivot - to GS.

[garyk]

Originally Posted by Loevhagen

I get the reference. ;)

However, on a serious note - I actually did pivot - to GS.

GS makes good sense, bravo!

[seattlewatch]

a logical person might think that with the nasdaq/crypto/etc now in correction territory, we would see a breather (or even a slight reversal) on some of these recent price increases -- but if you look back at the march 2020 early covid threads when FUD was extremely high, you'll see that prices didn't really soften that much.

[Belinus]

Originally Posted by Johny

I was in Glasgow yesterday to have a look at the BATGIRL film set and decided to have a look round the watch shops. Two shops in the Argyle Arcade each had a second hand Anniversary submariner date for sale. They were each priced at a few pounds less than £19,000. I couldn't believe it. Is this really the level that prices have risen to?

The Argyle Arcade prices for 2nd hand Rolexes are eye watering. Chrono24 looks positively cheap in comparison. Laings in the Arcade wouldn’t let me through the door to talk about Rolex unless I bought a Tudor first (“as it looks like a Rolex”). I pointed out that I’ve been on their list for three years for an OP whilst I went in and bought one on my first visit to the Rolex Boutique just along the road (when it was still badged as WoS)

[Nairn1980]

Originally Posted by Johny

I was in Glasgow yesterday to have a look at the BATGIRL film set and decided to have a look round the watch shops. Two shops in the Argyle Arcade each had a second hand Anniversary submariner date for sale. They were each priced at a few pounds less than £19,000. I couldn't believe it. Is this really the level that prices have risen to?

I thought your finger was on the pulse, J?
Cup of tea catch up long overdue

[Johny]

Originally Posted by Johny

I was in Glasgow yesterday to have a look at the BATGIRL film set and decided to have a look round the watch shops. Two shops in the Argyle Arcade each had a second hand Anniversary submariner date for sale. They were each priced at a few pounds less than £19,000. I couldn't believe it. Is this really the level that prices have risen to?

Update ....... I was in for a look last week. Price was now £22,000.

[Johny]

Originally Posted by Nairn1980

I thought your finger was on the pulse, J?
Cup of tea catch up long overdue

Hi bud. Tea and a catch up would be good.

[Chewbacca]

Rolexeses only go up and the best time to buy was yesterday.

Always buy!!!!

[berchris]

Buy from a wholesaler. Much cheaper.

[SLWoodster]

LOL. No idea what they are smoking. Secondary prices are down to mid 2020 prices. Definitely come down since you first saw it in January.

But if you're a lookie-lou and not in the market to buy at all, what does it matter?

It's like gawking at a $10 bottle of coca cola being sold at Disneyland while it is $.50 at the grocery store.

I don't actually drink much soda, it don't matter to me.

[EndlessEight]

Originally Posted by Johny

Update ....... I was in for a look last week. Price was now £22,000.

Sounds like they are bagholding.

I’m seeing Sub NDs selling for 11,200 and BLROs for 17,000 USD

[wilsonpepper]

Same with Grey market shops in Sydney Australia, and Incheon/Seoul South Korea. Prices there are out of control in those cities for sure !

[JRell]

Online the prices have come way down. Maybe these local shops attract people that don’t know the market value.