I admit it

[Randy9999]

A few months ago (December 2021), like everybody else I noticed that the secondary market prices for the Hulk were rising quickly. So, whether smart or dumb, I must admit that I became infected with FOMO for a watch I always wanted but never got around to buying... So I gulped hard and bought the watch from a grey dealer for $23,700. This morning I checked Chrono24 and was amazed to see that the trend has continued...

[thenewrick]

So with a 30% margin and 15% C24 fee the watch is probably worth about $23k and you've broken even so far

[underpar]

Chrono 24 prices are way over- inflated on many pieces. Most of those sellers don't even have the watch in hand, they're just fishing for buyers.

[Randy9999]

Originally Posted by thenewrick

So with a 30% margin and 15% C24 fee the watch is probably worth about $23k and you've broken even so far

I never sell my watches anyway, but I have enjoyed watching the trends of late.

[dcash0615]

Originally Posted by underpar

Chrono 24 prices are way over- inflated on many pieces. Most of those sellers don't even have the watch in hand, they're just fishing for buyers.

This is exactly correct. A lot of ghost listings on C24 where sellers list watches they don’t have at very high prices to current market and if someone buys, the seller sources the watch for much less and then fills the order.

[Phrank]

Don't feel bad, I waited literally 20 years to finally get the 16520/116520 Black Dial Daytona I'd wanted.

Got told "wait list" so many times, saw it go from around $6,000 - $9,000 to $14,000 Canadian MSRP (if you're willing to sit on a wait list) up until 2018 when I said enough, paid $18,000 Canadian for it and haven't looked back.

Still absolutely rocked every time I put it on. Tony (JUSTROLEXES), put that beautiful watch on my wrist in 30 hours after purchase, still makes me chuckle! haha

Now it's approximately $31,000 Canadian 4 years later....which would've potentially been an entirely different conversation with my wife....lol!

[thenewrick]

If you want to know what a watch is worth, ask DavidSW for a sell value. They will email its worth to you. Then you'll know and won't have to go by rumors "C24 listings"

[dpt.calvin]

Originally Posted by thenewrick

If you want to know what a watch is worth, ask DavidSW for a sell value. They will email its worth to you. Then you'll know and won't have to go by rumors "C24 listings"

DavidSW and any other secondary market seller is going to low ball him. How else will the seller make a profit?

[thenewrick]

That's what it is worth though. Something is worth what it will sell for.

Just because someone else sold something for X doesn't mean you're getting X for it.

Just the reality of a marketplace.

They can change more for many reasons including reputation and customer service, advertising etc. You have none of those things so your watch is worth less.

[dpt.calvin]

Originally Posted by thenewrick

That's what it is worth though. Something is worth what it will sell for.

Just because someone else sold something for X doesn't mean you're getting X for it.

Just the reality of a marketplace.

They can change more for many reasons including reputation and customer service, advertising etc. You have none of those things so your watch is worth less.

If he sells it privately, it’s worth more. I will always sell my cars privately rather than trade or sell them to a dealer. Why? Because I get more.

I’ve bought watches from private sellers without reputation before. Transaction was fine, watch authentic. That seller got more from me than he would have selling it to someone like DavidSW. This isn’t me sh!tying on DSW. I bought my 116500 from him 2 years ago.

[RolexSimon]

Originally Posted by dpt.calvin

DavidSW and any other secondary market seller is going to low ball him. How else will the seller make a profit?

Depends on the grey dealer. Many will work on fast turnover and 10-15% margin - others much more. Still, i agree you'll get offered 20-25K for the watch.

[rmwill]

Nobody is low balling anyone. You pay a premium to have a safe transaction with a bricks and mortar reseller that is in business to make a profit. Using C24 asking prices to determine a watches value is a joke. My "collection" there is at least 25% marked up over what I can sell them myself for with low risk.

Originally Posted by dpt.calvin

DavidSW and any other secondary market seller is going to low ball him. How else will the seller make a profit?

[dpt.calvin]

Originally Posted by rmwill

Nobody is low balling anyone. You pay a premium to have a safe transaction with a bricks and mortar reseller that is in business to make a profit. Using C24 asking prices to determine a watches value is a joke. My "collection" there is at least 25% marked up over what I can sell them myself for with low risk.

Never said one should use C24 to determine value, did I? When I said low ball, I just meant DSW will offer him less than what he can get on the private market. Which you apparently agree about. We just have different definitions of low ball.

[thenewrick]

"can get"

There's a lot built into that statement.

Did you include advertising cost? transaction fees? I think if you sold privately using Ebay and Paypal for advertising and seller protections you'd probably make the difference between Grey trade in sale

Unless you've got some unique benefit like reputation, clients networking etc you're probably not lifehacking you're way out of market value.

[dpt.calvin]

Originally Posted by thenewrick

"can get"

There's a lot built into that statement.

Did you include advertising cost? transaction fees? I think if you sold privately using Ebay and Paypal for advertising and seller protections you'd probably make the difference between Grey trade in sale

Unless you've got some unique benefit like reputation, clients networking etc you're probably not lifehacking you're way out of market value.

Pretty sure the cost to advertise here is just the cost of being a pledge member and then shipping. Cost is negligible.

I bought a watch here from a first time seller. Everyone has to start somewhere. I just properly vetted him and things worked out. That seller paid whatever the pledge cost is and maybe $100 for shipping.

OP - enjoy your watch. Sorry for the thread jack.

[Marcjvr]

Originally Posted by dpt.calvin

If he sells it privately, it’s worth more. I will always sell my cars privately rather than trade or sell them to a dealer. Why? Because I get more.

I’ve bought watches from private sellers without reputation before. Transaction was fine, watch authentic. That seller got more from me than he would have selling it to someone like DavidSW. This isn’t me sh!tying on DSW. I bought my 116500 from him 2 years ago.

I sold a luxury watch privately once. Will never do it again. The amount of tire kickers and scammers out there are ridiculous. My final buyer started out reasonable and by the end I was jumping through ridiculous hoops to put him “at ease” about the watch and the sale

Learnt my lesson and will always sell to a trusted seller like Davidsw on here going forward. The quick, painless and stress free aspect is worth every penny you are “giving up” to a resellers margin

Don’t even start me on a friend who sold to a private buyer and the buyer claimed he received an empty watch box…the amount of scammers out there are unbelievable

[underpar]

Originally Posted by dcash0615

This is exactly correct. A lot of ghost listings on C24 where sellers list watches they don’t have at very high prices to current market and if someone buys, the seller sources the watch for much less and then fills the order.

Yes sir. And those inflated ghost listings on Chrono 24 are driving the secondary market up almost daily. It's a joke.

[ProCoach]

A watch, like a car, is worth what someone (not necessarily a dealer that's online and/or brick and mortar) will pay for it.

Kudos to the OP. Go get some and enjoy.

[Cloudchaser]

Originally Posted by thenewrick

That's what it is worth though. Something is worth what it will sell for.

Just because someone else sold something for X doesn't mean you're getting X for it.

Just the reality of a marketplace.

They can change more for many reasons including reputation and customer service, advertising etc. You have none of those things so your watch is worth less.

The price that DavidSW buys from sellers is the "broker" or "wholesale" price. The price at which DavidSW sells is the "retail" or "market" price.

The "value" of the watch is its market price. The confusion comes from the fact that not everyone can sell at retail/end user price.

[thenewrick]

Originally Posted by Cloudchaser

The price that DavidSW buys from sellers is the "broker" or "wholesale" price. The price at which DavidSW sells is the "retail" or "market" price.

The "value" of the watch is its market price. The confusion comes from the fact that not everyone can sell at retail/end user price.

nope

Market value is whatever people pay for it. Wholesale is how much AD's get them Rolex. There's Grey "wholesale" but that's not really a thing. It's like walking into a pawn shop and selling a engagement ring and telling people you're a jewelry wholesaler. Not really.

People just don't like to admit the actual cost of goods because they're embarrassed they paid or sold for worse than "market" value and got "low balled"

OP probably paid $23,700 plus shipping, fees, taxes and if they tried to sell it at market value now would get about what they paid for it. That's pretty good I think!

C24 says my watch is up 100% in value, Wowzers! Reality is I paid around $6,400 and I could get $8,000 cash for it; a 20% return over 2 years. Reality not the same as hype. I'm still thrilled though. Love my watch and would be totally okay trading it in for a small profit one day or selling individually if the situation was feasible. I've also had issues with sketchy folks on the forum so, yea it's a common thing. Won't name names.

[Cloudchaser]

Originally Posted by thenewrick

nope

Gotcha. Appreciate the knowledge you've dropped here.

When I sell watches for more than DavidSW would ever dream of giving me (every watch I sell, in fact), what is the name for that price then?

It's a rhetorical question. I buy at wholesale (from people without the interest or ability to realize market price) and I sell at retail/market.

And I do it all without consulting DavidSW (admittedly best in class) at all.

It's just not any more difficult than that. And I'm just a very small fish.

[Cloudchaser]

Exactly...."broker" price is the "wholesale" for "grays." I'm not talking AD wholesale or MSRP. I'm referring to broker/market.

Regardless, semantics aside, what DavidSW pays private sellers for inventory is not market price. Not at all.

Originally Posted by thenewrick

nope

Market value is whatever people pay for it. Wholesale is how much AD's get them Rolex. There's Grey "wholesale" but that's not really a thing. It's like walking into a pawn shop and selling a engagement ring and telling people you're a jewelry wholesaler. Not really.

People just don't like to admit the actual cost of goods because they're embarrassed they paid or sold for worse than "market" value and got "low balled"

OP probably paid $23,700 plus shipping, fees, taxes and if they tried to sell it at market value now would get about what they paid for it. That's pretty good I think!

C24 says my watch is up 100% in value, Wowzers! Reality is I paid around $6,400 and I could get $8,000 cash for it; a 20% return over 2 years. Reality not the same as hype. I'm still thrilled though. Love my watch and would be totally okay trading it in for a small profit one day or selling individually if the situation was feasible. I've also had issues with sketchy folks on the forum so, yea it's a common thing. Won't name names.

[dpt.calvin]

Originally Posted by Cloudchaser

Regardless, semantics aside, what DavidSW pays pays private sellers for inventory is not market price. Not at all.

Exactly. DavidSW is providing a service. He charges for that service by offering you less than market price.

[TswaneNguni]

Yes,should have bought all the grey ss Daytonas you could find two or three years ago .Would have been a bargain .

[Cloudchaser]

Originally Posted by dpt.calvin

Exactly. DavidSW is providing a service. He charges for that service by offering you less than market price.

Exactly; he offers private sellers less than market price so that he can profit by selling at market price.

If the market price were what he buys for, profit would be impossible!

And, Calvin, I sure hope you are enjoying the watch I sold you at less than market price.

[jrs146]

Probably a little high. But I think you’re getting 25-27k private party sale if it’s clean and complete. The question is how long will this last?

Personally… I sold my hulk a long time ago when I needed funds to purchase a grail. I rarely, if ever sell watches, but at the time it seemed like a good plan. I instantly regretted it and pleaded with my AD for another one. Luckily I got another and now I know…. Regardless of price… never sell the Hulk!


Sent from my iPhone using Tapatalk

[TswaneNguni]

Demand rising by the day ,prices rising by the day .

No shortage of affluence in the world for the annual production of Rolex .
It wont change .
Its a BIG pocketed world for 830,000 annual production .

[Jojomojo]

Those prices are no joke. I've seen one traded when i was just browsing at the grey shop. Also, i noticed they don't have as much inventory as they used to. I wouldn't pay grey prices at these levels, but many more people are much richer than me anyway.

[myporsche]

Another value thread, another "hulk thread another, "FOMO" thread another, "DavidSW" thread...

I almost wish I didn't buy this watch anymore, I liked it when it was ugly and sitting in display cases no one liked them. It's almost not cool anymore with all these hype nerds not shutting up about it all over social media.

[dpt.calvin]

Originally Posted by myporsche

Another value thread, another "hulk thread another, "FOMO" thread another, "DavidSW" thread...

I almost wish I didn't buy this watch anymore, I liked it when it was ugly and sitting in display cases no one liked them. It's almost not cool anymore with all these hype nerds not shutting up about it all over social media.

And yet no one is forcing you to keep it.