Reply With Quote+1Originally Posted by lawler
They are. I am still on a waiting list though :-@
+1
Everything I'm interested in is over priced at the moment. Classic cars, Ducati's, watches and carbon road bikes.... I wonder what effect the forthcoming interest rate rise will have.
Personally I don't think 0.25% will make a dent in anyone's wallet. It's just going back to what it was not so long ago. 1% rise may have an effect but that's years away.
And it is getting worse every month, now even the US is feeling the supply squeeze and prices there are shooting up.
When you are mortgaged at 5x income on interest only and currently paying 1.25%, a 0.25% increase represents a significant increase in your monthly outgoings, don't underestimate the effect a rate rise will have given how long they have been stable...
Sent from my iPhone using TZ-UK mobile app
I think that everyone has become used to very low rates. Those more senior amongst us will recall rates briefly hitting 15 per cent just prior to the UK leaving the old ERM.
Those used to only low rates, or those with poor recall, might suffer deep culture shock when rates start to climb.
Sent from my SM-G920F using TZ-UK mobile app
Personally those who mortgage at x5 income can only blame themselves. Banks are irresponsible but doesn't mean you accept it. Apologies a bit off topic here.
Not sure how many have a £200k mortgage but a rise from 0.25% to 0.50% means a monthly increase of £25. All adds up but I would say it's not that significant in the grand scheme of things. 3 packets of fags, 3 bottles of wine etc. If £25 is going to hurt anyone with a mortgage now then good luck, the only wau is up, up and up for rates. May stay low for 2-3 years, won't stay low for the whole mortgage term.
+1
How did this thread get revived again! What a boring topic
Sent from my Moto C Plus using Tapatalk
Boring for some, interesting for others.
Know the prices of them today, I would have bought a few when I had a spare few quid, unfortunately cars and going out was more important.
How much were the 16610 and 14610(?) when they were released ?
Sent from my iPhone using TZ-UK mobile app
And yes they’ve always been overpriced I suppose but as the majority have said you could make you money back plus more
Sent from my iPhone using TZ-UK mobile app
A bit harsh to tell a couple in their mid-20s with decent jobs who need to raise £350k to buy a 1 bed flat in their home town that they are being irresponsible. Would you rather they spent more per month on renting? Or lived at home and spent it on Rolex watches (or TAG and Rado in the case of the son of one of my friends).
It's harsh but also reality. It's people's desire to own their own homes that's partially pushing the prices up so much. Everyone needs a roof to live under but it doesn't mean buy your own house at all costs. Renting and move back home with parents are some options to help build up a decent deposit.
Assuming 20% deposit, I would rather pay more in renting, than to borrow at x5 salary and knowing I owe the bank £280k + interest. Personally I don't think I could sleep if I was on x5 ratio, but that's just me. £56k a year before tax is about £3.5k after tax a month. About £1.3k of that goes to the mortgage...
Last edited by billlo; 29th September 2017 at 17:05.
Well it's off topic so we'll have to agree to disagree. I remember paying half my salary towards the mortgage when interest rates were 15%. I don't have a mortgage now which is why I can afford to buy the odd nice watch and help my kids with their deposits. Your mileage may vary as they say.
As for the topic, no, I don't think they are overpriced when I think about what goes into making one.
I didn't buy my Rolex for return/investment I bought because I loved it back in 2010 , I got the Dssd 😕
It's just as well, that's one Rolex that's yet to appreciate!I didn't buy my Rolex for return/investment I bought because I loved it back in 2010 , I got the Dssd
I got mine around then and paid 5k for it. 2009 maybe. If I still had it I guess it would be worth much the same if not more?
Sent from my SM-G920F using TZ-UK mobile app
I think it would be more 6-7K
Yes, I think the days of the £5k DSSD are long gone. Wearing mine this week, I’ve had it since 2011 and it’s a great watch even in the £6-7k bracket.
That's probably similar many people now. In my parents' day houses were cheap but interest rates high, now rates are low and houses expensive. Rates can't go as high as 15% these days - the banks would have to repossess half the country's housing.
Back on topic, I bought a Submariner back in January, after 10 months Watchfinder have offered me £250 more than I paid for it making me £25 per month, should I choose to sell. That's pretty good value!
The fact is they are priced at the level the market is willing to pay . If anything there is an argument they are underpriced and that's why demand is outstripping supply and thus theirs is a shortage of steel sports models , this in turn is why people are paying over list to get one .
It's all about demand and supply , and demand suggests they are not overpriced
So, the consensus seems to be that they are priced according to supply and demand, so very much like the London property market. So wether they are overpriced or not would tend to be a subjective assessment.
In my opinion yes, they are over priced for stainless steel.
I bought my DateJust back in 2005 for £2350 retail from an AD.
These are the consumer price index inflation rates since then
Year CPI rate Revised cost
2006 2.33 £2,405
2007 2.32 £2,461
2008 3.61 £2,549
2009 2.17 £2,605
2010 3.29 £2,690
2011 4.48 £2,811
2012 2.83 £2,890
2013 2.53 £2,964
2014 1.47 £3,007
2015 0.005 £3,007
2016 0.64 £3,027
2017 2.58 £3,105
So the current £5850 asking price is taking the p!$$ a little.
The flip side of course, is that as long as mugs are willing to pay and think Rolex are the bee all and end all of watch elitism, then they will continue to get ripped off by this not so charitable organisation. Which, in itself, smacks of some sort of tax dodging, board room shenanigans that are probably taught as best practice in the same school attended by accountants employed by Jimmy Car and Gary Barlow.
That's capitalism for you. Vote with your wallets, buy JLC or another genuine none mass produced brand with more horological pedigree until Rolex get real or just flog everything to the newly minted Chinese. Who then set up factories to rip them off by selling dodgy fakes in the rest of the world.
The ultimate Curly Wurly test. When I was a kid i could use the wrapper from a curly wurly as a sheath for my make believe sword which was in fact a 30cm rule.
Not sure whether you are an idiot or a genius, but thanks for posting. Will give this a go later.
Good luck everybody. Have a good one.
Does this make me Sheldon Cooper?
“Are Rolex overpriced?” - a trick question, surely.
We see this argument all the time, but they general ignore currency rates. CPI is meaningless. You may be right for some markets, but I doubt the uk is one of them.
2005 CHF:GBP 2.2
2017 CHF:GBP 1.3
So there may be some price inflation, but not as much as these type of posts make out, not by a long way.
It's just a matter of time...
This
Are houses? Cars?
The bonus is on a popular sports model you should be able to sell in six months time and get your money back.
If they are selling then no. If anything is 'overpriced' it won't sell. Rolex are selling so they can't be 'overpriced' by definition.
Are they dearer than some people want to pay? Probably. But a lot of people are willing to pay the price.
Are Levi's jeans overpriced? Compared to Tesco's jeans probably. Go figure.
+1 to this.
It is simple - they set the price, they sell.
Nobody is being 'ripped off' and they are not obligated to follow any inflationary or monetary measurement.
When you look long into an abyss, the abyss looks long into you.........
I worked in Ernest Jones in the summer of 2010 staff discount was 40% once one year and 30% family and friends for the rest of the year. So i went to a newly open Westfield store and got a new green Rolex LV for £1800 which I still have. That watch wasn’t over price at the time but the price there go for today is a bit over the top.
It wouldn't be desirable -if it was significantly less, though.
Rolex watches may be expensive in general terms, after all nobody really needs a 5-7k watch to tell the time when a £70 Gshock 5610 is much more accurate. And the time is on everyone's phone anyway.
However some SS models are not overpriced given how hard is to find them at ADs. And given how well they retain value, they are definitely not overpriced relative to other luxury brands. Breitling or most Omega's are another story. You can buy them with 30-40% discount new and still take a bath when reselling them. At the same price point, SS Rolex are actually the best value for money compared to other brands.
Now precious metal Rolexes are overpriced compared to SS. The jump in price from steel is not really explained by the cost of the metal. But those can be had with nice discounts.
To all people who think Rolex are overpriced, just dont buy them and stop complaining.
Sent from my SM-G955F using TZ-UK mobile app
Five pages
What does overpriced mean?
Posting Permissions
