Price Drop - update from Hong Kong

[Wrist King]

As I’ve nearly sold my 16710 and maybe also my 16610 I’m shopping for a Hulk or Cermit. Prices on this forum are much higher than the sticker price in Hk shops.

The hulk at HKD136,800 is US$17,580
The sub 126610LV at HKD 128,000 is US$16,450
The BLNR is HKD 112,800 is US$14,500

Soft. BLNR particularly soft as newer shinier models win out.

[jb335]

That pricing/listing is for the old 116 BLNR. The 112 goes a bit higher.

Looks like you are comparing US prices of the 126 BLNR against the HK prices of a 116 BLNR.


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[Podmornica]

The secondary watch market is getting softer with each passing week everywhere in the world as the majority of stock remain unsold followed by the fresh new pieces pouring into the market with not enough buyers to collect them..

We are likely to see the sub MSRP prices for certain references very soon at the grey dealers as that's where the real supply and demand is met. The AD will try their best not to provide any discount and Rolex itself could limit the supply to maintain the desirability of the brand if the demand drop further.

[faimag]

the big question is if you got that Hulk or not yet???

[Wrist King]

Good points. I did not get that Hulk yet. I want to but…it’s quite flash and i am not a fan of the maxi-case. I like the green cermit, if ONLY it had that green dial. I have been watching the Hulk pricing for a while and this is the cheapest I have seen, which may be a red flag. Or the market really is soft.

The hulk jumped on discontinuation and that over-excitement is coming back.

How to choose between hulk and cermit?!

[the dark knight]

OP, may I ask why you are selling both a 16610 and 16710? Kinda surprising as those two may be the most popular 5 digits and some may argue the most popular Rolex watches period.

[the dark knight]

Originally Posted by Podmornica

The secondary watch market is getting softer with each passing week everywhere in the world as the majority of stock remain unsold followed by the fresh new pieces pouring into the market with not enough buyers to collect them..

We are likely to see the sub MSRP prices for certain references very soon at the grey dealers as that's where the real supply and demand is met. The AD will try their best not to provide any discount and Rolex itself could limit the supply to maintain the desirability of the brand if the demand drop further.

Yes, for some models it will go back to the "norm". ADs selling to greys out the back door not for a profit but to unload unwanted inventory at a discount.

[Harry-57]

If I really wanted a Hulk I'd be all over that one.

[cloudsun]

OP can you share the address? Im visiting soon and would like to go take a look!

[wilsonpepper]

There are three Club Watch locations in Hong Kong, go here to see them:

https://www.clubwatchhk.com/?lang=en

Store address:

Shop 1 : Shop No.21 on 1/F of The Podium Admiralty Centre No.18 Harcourt Road Hong Kong



Shop 2 : Unit No.9 on Ground Floor Houston Centre No.63 Mody Road Kowloon Hong Kong

​

Shop 3 : Shop 89-91 1/F Metro Sham Shui Shum Shui Po Kowloon Hong Kong

​

Shop 4 : Shop 13-15, 1/F Metro Sham Shui Shum Shui Po Kowloon Hong Kong

[kscarandwatchguy]

OP thank you for the update. Gives me hope that at least prices are coming down

[Roddypeepa]

According to C24 the Hulk has dropped by 1/3 since it’s absolute peak in spring 22.

I’d say those prices are realistic and imagine a lot of those watches going for that approximate value all over the world.

Prices have softened for sure.


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[cloudsun]

Originally Posted by wilsonpepper

There are three Club Watch locations in Hong Kong, go here to see them:

https://www.clubwatchhk.com/?lang=en

Thank you! If you have any other recommendations please let me know!

[Wrist King]

Lots of pre owned and grey watch shops in Hong Kong. Many centred around the Holiday Inn hotel on Nathan road. But also Tse’s Collection and others.

Originally Posted by cloudsun

OP can you share the address? Im visiting soon and would like to go take a look!

[Wrist King]

The Pepsi isn’t for me, but I do love my 16610. But times are a little tight and I can’t justify the five digit and the 6 digit sub, really. But yes agree with you.

Originally Posted by the dark knight

OP, may I ask why you are selling both a 16610 and 16710? Kinda surprising as those two may be the most popular 5 digits and some may argue the most popular Rolex watches period.

[sambb]

gray dealers in the US have cut if you talk to them instead of paying online price. They will take a tiny margin in this. demand is down as interest rates are so high.

[sski]

it's happening!

[Wrist King]

It is inevitable. Models in (mass) production should not command a premium. Rolex Pepsi 16710 should.

[enjoythemusic]

Originally Posted by sski

it's happening!

It's all happening. i look forward to a normal balance of supply and demand.

[Oystersteel92]

Originally Posted by enjoythemusic

It's all happening. i look forward to a normal balance of supply and demand.

Not just watches. No car dealer should ever have had as much power as they've had the last couple years. Lots are starting to fill up around here, even Honda, which stayed empty the longest.

[Wrist King]

Originally Posted by Oystersteel92

Not just watches. No car dealer should ever have had as much power as they've had the last couple years. Lots are starting to fill up around here, even Honda, which stayed empty the longest.

This was more due to chip shortages. Not the same, as there was an actual reason new car sales were limited.

[MaxBianc]

Originally Posted by Podmornica

The secondary watch market is getting softer with each passing week everywhere in the world as the majority of stock remain unsold followed by the fresh new pieces pouring into the market with not enough buyers to collect them..

We are likely to see the sub MSRP prices for certain references very soon at the grey dealers as that's where the real supply and demand is met. The AD will try their best not to provide any discount and Rolex itself could limit the supply to maintain the desirability of the brand if the demand drop further.

What I'm also noticing is that most shops that sell pre-owned watches are no longer looking to buy. You can only trade or buy. Even on trades they only want AP, PP and Rolex.

[MaxBianc]

Originally Posted by Oystersteel92

Not just watches. No car dealer should ever have had as much power as they've had the last couple years. Lots are starting to fill up around here, even Honda, which stayed empty the longest.

In my area, the wait for a Toyota Rav 4 Prime was 2+ years and I live in North America.

[enjoythemusic]

Originally Posted by Oystersteel92

Not just watches. No car dealer should ever have had as much power as they've had the last couple years. Lots are starting to fill up around here, even Honda, which stayed empty the longest.

Good News! The car repo guys are very busy nowadays. If you really need a car, imho avoid new and used auto dealers, check the car repo market.

[HK_Expat]

Originally Posted by cloudsun

OP can you share the address? Im visiting soon and would like to go take a look!

Many in Mong Kok, Wan Chai and central also.
Prices certainly coming down across the board here. Some quicker then others tho….Daytonas still holding ground, but trending slightly down

[marte]

I recently bought from the shop in the original post. It was an older 16710. I first looked at it earlier this year. It was reduced by 10% recently so I bought it.

Not bad, although a little surprised at how casual and blase they were about the "full set". They just seemed to randomly find boxes from their cupboard. Anyway I have the original certificate so not bad for the price.

I guess on modern pieces you should expect a full set to be correct so worth checking before you leave.

[RichardBartlett]

When I was in HK early this year I thought prices were way too high on the grey market..

[worldofoyster]

time to buy

[Wmrcer]

Originally Posted by MaxBianc

In my area, the wait for a Toyota Rav 4 Prime was 2+ years and I live in North America.

My FIL is a manager at a Toyota dealership, and they are to receive 100 new vehicles coming in very soon. I believe the vehicle market is getting back to normal as I too see lots filling up.

[Rico_Brasole]

Originally Posted by worldofoyster

time to buy

Not yet. Watching the TS bump their threads into eternity while decreasing the price by $25 is hysterical.

I’d love to see their total assets turnover ratio.


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