Got A Call (Not Quite ‘The’ Call)

[oo7ml]

Hi,

I have expressed interest in a number of watches at my local Rolex dealer who has been very good to me over the years.

They called me yesterday to see if I wanted a DD in YG with a Black dial (standard version - i.e - no diamonds, etc)

It is a watch that I want, particularly with the black dial, but I have a few other watches ahead of it in terms of priority, as such.

I don’t flip watches and never had, and 2 years ago I would have jumped at this as it would have been a safe place to put money, while enjoying the watch.

However, now with the watch market softening a lot, I really really can’t make up my mind if this is a sensible buy, or if I should wait for something that is higher up my preference list.

Any advice or thoughts that I am missing here, would be greatly appreciated, thank you.

[Jackiejaxk]

Pass if u really don’t want it. But a Yg , black dial dd40 is nice and shiny, I have the champagne Roman’s as my daily , ��

[Jackiejaxk]

Pass if u really don’t want it. But a Yg , black dial dd40 is nice and shiny, I have the champagne Roman’s as my daily , 😎

[thenewrick]

I don’t think buying jewelry is ever a sensible buy. It’s just for fun and to ideally not lose your shirt in the process.

PM pieces and hype references are dropping in resale value the fastest though.

[KatGirl]

If you can afford all the watches on your list, and this is one of them, what’s your hesitation? It won’t go down in price, except possibly on the secondary market. When I buy watches, no matter the brand, or price range, I buy what I want to wear, and that I can afford. Those are the only factors that affect my decision. So, do you want to wear this watch, and can you afford it?

Kat


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[mmmk604]

The way I see it is, if I’m eventually going to buy it, why not buy it now if the opportunity presents itself? With that said, I only have 2 watches on a list right now with my ADs. If either of them come in, I’ll jump on the chance right away.

I only buy from ADs, the grey market in Canada is tiny compared to the US, so I don’t even bother looking at grey.

[1William]

One on the wrist is worth many on the list. If this is one that you like and were going to buy, then why not? Just reshuffle your list and enjoy a great and iconic watch. Good luck and let us know what you decide.

[fsprow]

My mantra is “don’t try to time the market”. This applies to stock investments, real estate, watches and all other purchases.

[Harry-57]

If you don't want it, don't buy it. If you do buy it, insure it, which covers the value.

[Calatrava r]

Originally Posted by oo7ml

Hi,


I don’t flip watches and never had, and 2 years ago I would have jumped at this as it would have been a safe place to put money, while enjoying the watch.

However, now with the watch market softening a lot, I really really can’t make up my mind if this is a sensible buy, or if I should wait for something that is higher up my preference list.

It seems like you are more focused on the investment angle of Rolex than the watches themselves, so that factor should guide your decision.

[brandrea]

Originally Posted by Calatrava r

It seems like you are more focused on the investment angle of Rolex than the watches themselves, so that factor should guide your decision.

Exactly how I’m reading it too.

[Dave O]

This may be controversial, but some of us buy watches for the pure love of the watch and could care less about it as an investment. It sounds to me like you are more concerned with the investment aspect of the watch. If this is the case, my advise is to pass and let someone else buy it who will truly love the watch for what it is, a beautiful time piece and not an investment. I, for one, could care less if my watches drop in value the second I walk out of the AD's door.

If more people who view a Rolex as an investment would just take a pass it would leave a lot more watches for those of us who want them for the pure love of the watch.

[oo7ml]

Thank you all for the input.

As for the comments re “investment”… I have a rule with cars and watches… I buy them for enjoyment and a hobby, and NOT as investments… I stick to what I know best for investments, and keep my hobbies separate.

However, I do (try) to apply common sense to all significant purchase in life. So it is not a case of investment, it is a case of spending €39k on a watch that I like, but there are a few others ahead of it that I prefer more… so if it wasn’t going to lose my shirt on it, then I would feel ok buying it ahead of others… again to reiterate, it is not investment led, but trying to apply a level of common sense.

[Avs Fan]

Originally Posted by 1William

One on the wrist is worth many on the list. If this is one that you like and were going to buy, then why not? Just reshuffle your list and enjoy a great and iconic watch. Good luck and let us know what you decide.

On the wrist not the list! I like it!

[SamArj]

Originally Posted by oo7ml

Thank you all for the input.

As for the comments re “investment”… I have a rule with cars and watches… I buy them for enjoyment and a hobby, and NOT as investments… I stick to what I know best for investments, and keep my hobbies separate.

However, I do (try) to apply common sense to all significant purchase in life. So it is not a case of investment, it is a case of spending €39k on a watch that I like, but there are a few others ahead of it that I prefer more… so if it wasn’t going to lose my shirt on it, then I would feel ok buying it ahead of others… again to reiterate, it is not investment led, but trying to apply a level of common sense.

Completely understand, don't justify yourself to those that seem to have a stroke if anyone mentions retained value.

I'm pretty sure the watch you mentioned trades well below rrp, in the UK anyway.
So why would one pay more for something from the AD than it costs in the grey market?

[77T]

Originally Posted by oo7ml

Thank you all for the input.

As for the comments re “investment”… I have a rule with cars and watches… I buy them for enjoyment and a hobby, and NOT as investments… I stick to what I know best for investments, and keep my hobbies separate.

However, I do (try) to apply common sense to all significant purchase in life. So it is not a case of investment, it is a case of spending €39k on a watch that I like, but there are a few others ahead of it that I prefer more…so if it wasn’t going to lose my shirt on it, then I would feel ok buying it ahead of others… again to reiterate, it is not investment led, but trying to apply a level of common sense.

How would you lose your shirt on any Rolex that you buy to never flip/sell?


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[oo7ml]

Originally Posted by 77T

How would you lose your shirt on any Rolex that you buy to never flip/sell?


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Asset value… you don’t have to sell assets, but always wise to ensure you don’t “lose your shirt on assets”..

[Dave O]

Originally Posted by oo7ml

Asset value… you don’t have to sell assets, but always wise to ensure you don’t “lose your shirt on assets”..

Again, if you don't intend to flip/sell why does it matter? Whether you call it an investment or asset it seems to me that retaining that value matters more to you than the watch itself. Just saying.

[tmoy810]

Originally Posted by oo7ml

Asset value… you don’t have to sell assets, but always wise to ensure you don’t “lose your shirt on assets”..

I guess that makes it easier to justify purchasing items that are not necessary.

The reality is, there is a possibility that you are going to take a bath on most precious metal and two tone pieces. If you look at the market historically, that has always been the trend.

The past 3/4 years are an outlier. The unprecedented value of Stainless Steel pieces drove up the value of two tone and precious metal. The illusion of Precious Metal and Two Tone pieces being worth more than retail, had people purchasing Rolex on a speculative basis. The quick price correction of two tone and precious metal pieces at the first signs of the market "softening" shows this is most likely an unsustainable trend.

Of course many other factors contributed to this crazy. I.E. low interest rates, covid (many people had excess funds for the first time, crypto, the stock market etc. A lot of artificial currencies being pumped into the marketplace.

So, basically. If you want to buy smart. Stay away from PM and Two Tone pieces for the foreseeable future. If you want the watch for the love of it and "asset value" does not bother you? Day date is probably one of the best watches in the Rolex line up.

[alphadweller]

If it's a watch that I want, I buy it. The order in the list doesn't matter to me.

[worldofoyster]

that's why when you express interest, focus on 1 or 2 pieces

[Rolexatlast]

Originally Posted by oo7ml

I'm pretty sure the watch you mentioned trades well below rrp, in the UK anyway.
So why would one pay more for something from the AD than it costs in the grey market?

Many people prefer new to used, like the security of an AD purchased, and are willing to pay the premium

[Rico_Brasole]

If you want a safe place to put your money why not just buy some T-Bonds?

Jewelry is never a safe place for money. Don’t let the market the 4-5 years fool you. Just look at the FS section w/ multiples of same watch with capital tied up bc they can’t move without meeting their margins

Sounds like you don’t really want the watch


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