Thinking of upgrading a 20 month old 116200 for a new 126334. Am I likely to get a fair price from the AD I bought the original from? Cheers for any advice.
No idea....but if you let us all know which dial configuration of your 116200 someone may be interested in buying.....some dials are far more appealing than others IMO.....but that's only my opinion and what I like may not appeal to others. 116200's one of the best current Rolex models, one of the few fatter lugs versions that really looks 'right' to my eye.Originally Posted by Slamdoor
Paul
Last edited by walkerwek1958; 24th September 2017 at 21:24.
In my previous experience, ADs (UK) offer shockingly poor trade values.
I’ve tried several times but ended up selling in other ways.
As long as you approach in the same way you would the PX on A car then yes, if you are expecting to get retail money then you will disappointed, the AD will need to make money when they sell it, these watches don’t refurbish themselves, and when it goes wrong it’s down to them (depending on warranty)
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It’s not a case of always wanting retail money, if they’re a chain AD they phone a central buyer and offer a low price without being seen.
I’ve tried to trade in a few models still under warranty over the past few years. They needed zero reconditioning, were pristine and still under warranty. The prices were so low.
Eg a few years ago I was offered £3,000 for a SubC....
Why do you need to see a watch, I buy watches without seeing them everyday, if when it arrives it’s not as described then theres no deal and it goes straight back
It’s in everyone’s interest to be honest from the start, the price is the same with or without seeing it
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Last edited by J3w3ll3r; 24th September 2017 at 19:48.
You went to the wrong AD....
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It depends how many years ago.
AD's will be different but I'd say 9 times out of 10 you'll get a better price elsewhere.
Try a grey/pre owned dealer for a quick sale probably get a better price,or if you can wait sell privately.
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Usually they are pretty poor, although I did get a decent trade in price when buying and selling a gold watch.
In my experience, no. I was offered £1k less than I eventually sold my 114270 for and that was against a new 116234. No harm in asking but selling privately is most likely the way to go.
No. If you are considering trade ins go to the likes of Watchfinder.
I spoke to watchfinder recently about a trade in and was surprised at how low it was.
They offered 60% of the price they sell them for and this was a steel sports Rolex, so not exactly something it would be difficult for them to move.
One huge problem is the price sellers expect to be offered. These businesses need to make money and just because you are ‘giving them profit’ in the one you buy, with a part exchange, some of that profit is deferred until they sell the trade in. Part exchange is like many things today - convenience - but true you’ll tend to get less than if selling privately, which is to be expected really.
How much are you expecting, I have a pretty good idea of what your PX value will be
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Be interesting to hear from any of the dealers what kind of percentage of their expected sales figure they would give for a decent condition watch. 60% doesn't sound too bad to me. Those dealers that buy and trade all the time and are recommended by the good folks on here have to make a living and you have to be realistic with your expectations.
I just think that you would ultimately get a better deal out of them than a part ex with a retail suit who doesn't have the first clue what you are offering them.
Deal with people who know what they are doing.
I don’t know any dealer that pays 60% of the retail value on a Regular basis, I would be interested to hear from anyone that does
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On the quotes I’ve had from Watchfinder they’ve generally had a markup of 25% on the offer versus advertised price.
The problem is that a few people have extremely high expectations and want the Earth - this is evident on some listings on SC.
Given the retail value as new is now £4900 and this one has over three years warranty remaining I was thinking around £2800.
I think that's very realistic for a 116200 PX, provided there is nothing substantial in need of replacement (chipped or scratched glass, dented crown etc).
This is a watch to be selling for around £3,600.
If cost were £2,800 and selling price £3,600 you take VAT off the £800 difference and then have £665 to cover any costs of refurbishment plus all the overheads a retailer has such as wages, rent, insurance, corporation tax and everything else. I wouldn't be surprised to find that when all is accounted for the retailer actually makes less than £100 profit from such a PX.
Haywood
Last edited by Haywood_Milton; 25th September 2017 at 10:19.
Actually 3600 minus 2800 is 800. Just sayin like.... 😀😀
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Thankyou, now corrected! I'd originally drafted £3,500 as the likely SP, then revised that to £3,600 and correctly updated the ex-VAT figure to c.£665....but inadvertantly left the gross difference from the old sum unchanged. I promise my maths is up to it!
H
I have no doubt that it is ☺☺ the vat calculation is beyond me.....
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Much appreciated.
I always enjoy reading Haywood's posts, they always give a good insight into the retail side of the watch business ,which I find very interesting
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Yes, wasn't knocking them. They're entitled to offer whatever they want of course but based on previous prices given by other members I had expected it to be more like 25% on popular models.
Last edited by OliverD; 25th September 2017 at 14:57.
Pretty much what Haywood saidexcept I think you may get a little more than that
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Last edited by J3w3ll3r; 25th September 2017 at 13:54.
If the seller has a fat enough profit in the watch they are selling, they will often "massage" that profit into an apparently more flattering part-exchange offer for the client's current watch.Pretty much what Haywood said
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Every month my colleagues will tell me of half a dozen enquiries along these lines :
"XYZ-finder have offered me £300 more than you for my Rolex, in part-exchange against THEIR unworn SwingTagMaster II."
"Yes, but our unworn Rolex SwingTagMaster II is £700 less."
"So you won't give me as much in part-exchange? Well you'll not be getting MY business!"
One can lead a horse to water...
I`ve just had a PX offer on a 2016 December GMTII BLNR of £6500. (not an AD though) against a 36mm Datejust which again is a 2016 UK supplied RRP £9500. Up at £8000 cash. So £1500 to swap
That makes sense, the BLNR is a watch more in demand than the Datejust and there are no potential warranty costs as both watches are still under the manufacturers warranty period. Both watches are therefore guaranteed (almost) trouble free for the dealer so he can afford to make a smaller return.
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